Microchip Technology, Inc (NASDAQ:MCHP) price on Thursday, February 06, fall -0.73% below its previous day’s close as a downside momentum from buyers pushed the stock’s value to $53.11.
A look at the stock’s price movement, the close in the last trading session was $53.50, moving within a range at $52.715 and $54.2195. The beta value (5-Year monthly) was 1.526 while the PE ratio in trailing twelve months stood at 37.04. Turning to its 52-week performance, $100.57 and $51.37 were the 52-week high and 52-week low respectively. Overall, MCHP moved -8.89% over the past month.
Microchip Technology, Inc’s market cap currently stands at around $28.52 billion, with investors looking forward to this quarter’s earnings report slated for in March. The company has a Forward Dividend ratio of 1.81, with its dividend yield at 3.41%. As such, investors might be keen on an upside in the stock’s price ahead of the scheduled earnings report.
Analysts have a consensus estimate of 1.05B for the company’s revenue for the quarter, with a low and high estimate of 967.14M and 1.14B respectively. The average forecast suggests down to a -20.63% growth in sales growth compared to quarterly growth in the same period last fiscal year. Wall Street analysts have also projected the company’s year-on-year revenue to grow to 4.52B, representing a -40.77% decline on that reported in the last financial year.
Turning to the stock’s technical picture we see that short term indicators suggest on average that MCHP is a 100% Sell. On the other hand, the stock is on average a 100% Sell as suggested by medium term indicators while long term indicators are putting the stock in 100% Sell category.
14 analyst(s) have given their forecast ratings for the stock on a scale of 1.00-5.00 for a strong buy to strong sell recommendation. A total of 5 analyst(s) rate the stock as a Hold, 8 recommend MCHP as a Buy and 1 give it an Overweight rating. Meanwhile, 0 analyst(s) rate the stock as Underweight and 0 say it is a Sell. As such, the average rating for the stock is Buy which could provide an opportunity for investors keen on increasing their holdings of the company’s stock.
MCHP’s current price about -5.07% and -9.82% off the 20-day and 50-day simple moving averages respectively. The Relative Strength Index (RSI, 14) currently prints 36.28, while 7-day volatility ratio is 3.28% and 3.16% in the 30-day chart. Further, Microchip Technology, Inc (MCHP) has a beta value of 1.54, and an average true range (ATR) of 1.97. Analysts have given the company’s stock an average 52-week price target of $91, forecast between a low of $58 and high of $95. Looking at the price targets, the low is -9.21% off current price level while to achieve the yearly target high, price needs to move -78.87%. Nonetheless, investors will most likely welcome a -71.34% jump to $91 which is the analysts’ median price.
If we refocus on Microchip Technology, Inc (NASDAQ:MCHP), historical trading data shows that trading volumes averaged 9.97 over the past 10 days and 8.64 million over the past 3 months. The company’s latest data on shares outstanding shows there are 537.01 million shares.
The 2.14% of Microchip Technology, Inc’s shares are in the hands of company insiders while institutional holders own 95.31% of the company’s shares. Also important is the data on short interest which shows that short shares stood at 29.22 million on 2025-01-15, giving us a short ratio of 3.39. The data shows that as of 2025-01-15 short interest in Microchip Technology, Inc (MCHP) stood at 636.0 of shares outstanding, with shares short falling to 30.99 million registered in 2024-12-13. Current price change has pushed the stock -7.39% YTD, which shows the potential for further growth is there. It is this reason that could see investor optimism for the MCHP stock continues to rise going into the next quarter.
