Microchip Technology, Inc (NASDAQ:MCHP) shares, rose in value on Thursday, February 13, with the stock price up by 0.76% to the previous day’s close as strong demand from buyers drove the stock to $54.26.
Actively observing the price movement in the last trading, the stock closed the session at $53.85. The PE ratio was 95.68 over 12-month period. Referring to stock’s 52-week performance, its high was $100.57, and the low was $50.21. On the whole, MCHP has fluctuated by -4.61% over the past month.
With the market capitalization of Microchip Technology, Inc currently standing at about $29.18 billion, investors are eagerly awaiting this quarter’s results, scheduled for in March. The company’s Forward Dividend Ratio is 1.81, with its dividend yield at 3.34%.
Projections by analysts suggest varying estimates for the company’s quarterly revenue. Analysts have estimated the company’s revenue for the quarter at 4.39B, with a low estimate of 959.2M and a high estimate of 1B. Wall Street analysts also predicted that the company’s y-o-y revenues would reach 962.94M.
Technical indicators serve as essential tools for traders, offering insights into market sentiment and potential price movements. We see that MCHP’s technical picture suggests that short-term indicators denote the stock is a 100% Sell on average. However, medium-term indicators have put the stock in the category of 100% Sell while long-term indicators on average have been pointing out that it is a 100% Sell.
The stock’s technical analysis shows that the price of MCHP currently trading nearly -1.54% and -5.41% away from the simple moving averages for 20 and 50 days respectively. The Relative Strength Index (RSI, 14) currently indicates a reading of 44.93, while the 7-day volatility ratio is showing 3.76% which for the 30-day chart, stands at 3.40%. Furthermore, Microchip Technology, Inc (MCHP)’s beta value is 1.54, and its average true range (ATR) is 1.94.
A comparison of Microchip Technology, Inc (MCHP) with its peers suggests the former has fared considerably weaker in the market. MCHP showed an intraday change of 0.76% in last session, and over the past year, it shrunk by -35.37%%.
Data on historical trading for Microchip Technology, Inc (NASDAQ:MCHP) indicates that the trading volumes over the past 3 months, they’ve averaged 8.89 million. According to company’s latest data on outstanding shares, there are 537.76 million shares outstanding.
Nearly 2.15% of Microchip Technology, Inc’s shares belong to company insiders and institutional investors own 93.90% of the company’s shares. The stock has fallen by -5.39% since the beginning of the year, thereby showing the potential of a further growth. This could raise investors’ confidence to be optimistic about the MCHP stock heading into the next quarter.
