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Things appear to be looking up for Microchip Technology, Inc (MCHP)

Microchip Technology, Inc (NASDAQ: MCHP) is 6.49% higher on its value in year-to-date trading and has touched a low of $50.21 and a high of $100.57 in the current 52-week trading range. The question becomes, what are the chances the stock will continue to grow shareholders’ wealth in the market. Here’s what analysts think will happen to its price in the coming time. The MCHP stock was last observed hovering at around $64.30 in the last trading session, with the day’s loss setting it -3.23%.

Currently trading at $61.07, the stock is 9.63% and 6.92% above its SMA20 and SMA50 respectively. However, with a daily trading volume of 13.46 million and changing -5.02% at the moment leaves the stock -19.42% off its SMA200. MCHP registered -25.89% loss for a year compared to 6-month loss of -23.93%.

The stock witnessed a 4.43% gain in the last 1 month and extending the period to 3 months gives it a -6.41%, and is 12.55% 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 5.57% over the week and 4.05% over the month.

Microchip Technology, Inc (MCHP) has around 22300 employees, a market worth around $32.84B and $4.76B in sales. Current P/E ratio is 107.69 and Fwd P/E is 49.50. Profit margin for the company is 6.49%. Distance from 52-week low is 21.63% and -39.27% from its 52-week high. The company has generated returns on investments over the last 12 months (2.42%).

with sales reaching $962.86M over the same period.The EPS is expected to shrink by -73.63% this year, but quarterly earnings will post -42.44% year-over-year. Quarterly sales are estimated to shrink -27.37% in year-over-year returns.

Microchip Technology, Inc (MCHP) Top Institutional Holders

The shares outstanding are 537.76M, and float is at 526.34M with Short Float at 5.32%.

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 3.4539 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’sSENIOR VP AND CFO. SEC filings show that Bjornholt James Eric sold 4,688 shares of the company’s common stock on Nov 25 ’24 at a price of $67.75 per share for a total of $0.32 million. Following the sale, the insider now owns 33272.0 shares.

Still, SEC filings show that on Aug 23 ’24, Bjornholt James Eric (Senior VP and CFO) disposed off 2,154 shares at an average price of $81.50 for $0.18 million. The insider now directly holds 33,257 shares of Microchip Technology, Inc (MCHP).

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