Microchip Technology, Inc (NASDAQ: MCHP) is -26.05% lower on its value in year-to-date trading and has touched a low of $62.62 and a high of $100.57 in the current 52-week trading range. The question becomes, what are the chances the stock will make a comeback and enjoy potential growth. Why not look at analysts view on what the future holds for the stock. The MCHP stock was last observed hovering at around $66.51 in the last trading session, with the day’s gains setting it 0.18%.
Currently trading at $66.69, the stock is -5.49% and -10.59% below its SMA20 and SMA50 respectively. However, with a daily trading volume of 5.38 million and changing 0.27% at the moment leaves the stock -20.85% off its SMA200. MCHP registered -19.12% loss for a year compared to 6-month loss of -32.11%. The firm has a 50-day simple moving average (SMA 50) of $74.5864 and a 200-day simple moving average (SMA200) of $84.2627.
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The stock witnessed a -12.09% gain in the last 1 month and extending the period to 3 months gives it a -16.95%, and is 6.09% up over the last 5 days. If we measure the stock’s price variations over the week and the month, we find that the volatility rates stand at 2.70% over the week and 3.25% over the month.
Microchip Technology, Inc (MCHP) has around 22300 employees, a market worth around $35.91B and $5.50B in sales. Current P/E ratio is 46.51 and Fwd P/E is 26.49. Profit margin for the company is 14.22%. Distance from 52-week low is 6.49% and -33.68% from its 52-week high. The company has generated returns on investments over the last 12 months (7.27%).
with sales reaching $1.06B over the same period.The EPS is expected to shrink by -67.03% this year, but quarterly earnings will post -40.09% year-over-year. Quarterly sales are estimated to shrink -39.84% in year-over-year returns.
Microchip Technology, Inc (MCHP) Top Institutional Holders
1622.0 institutions hold shares in Microchip Technology, Inc (MCHP), with institutional investors hold 99.85% of the company’s shares. The shares outstanding are 536.66M, and float is at 525.57M with Short Float at 5.77%. Institutions hold 97.75% of the Float.
The top institutional shareholder in the company is VANGUARD GROUP INC with over 68.03 million shares valued at $6.22 billion. The investor’s holdings represent 12.6231% of the MCHP Shares outstanding. As of 2024-06-30, the second largest holder is BLACKROCK INC. with 45.69 million shares valued at $4.18 billion to account for 8.4782 of the shares outstanding. The other top investors are STATE STREET CORP which holds 25.49 million shares representing 4.7304% and valued at over $2.33 billion, while T. ROWE PRICE INVESTMENT MANAGEMENT, INC. holds 3.4398 of the shares totaling 18.54 million with a market value of $1.7 billion.
Microchip Technology, Inc (MCHP) Insider Activity
The most recent transaction is an insider sale by Bjornholt James Eric , the company’s Senior VP and CFO. SEC filings show that Bjornholt James Eric sold 2,154 shares of the company’s common stock on Aug 23 ’24 at a price of $81.50 per share for a total of $0.18 million. Following the sale, the insider now owns 33257.0 shares.
Still, SEC filings show that on Jun 10 ’24, CHAPMAN MATTHEW W (Director) disposed off 2,748 shares at an average price of $93.88 for $0.26 million. The insider now directly holds 35,682 shares of Microchip Technology, Inc (MCHP).
