The stock of Microchip Technology, Inc. (NASDAQ:MCHP) last traded at $94.24, down -1.17% from the previous session.
MCHP stock price is now 5.56% away from the 50-day moving average and 12.14% away from the 200-day moving average. The market capitalization of the company currently stands at $50.93B.
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With the price target of $115, Jefferies recently initiated with Buy rating for Microchip Technology, Inc. (NASDAQ: MCHP). On May 07, 2024, TD Cowen reiterated its ‘Hold’ rating on the stock by increasing its target price from $80 to quote $90, while ‘Evercore ISI’ rates the stock as ‘Outperform’
In other news, DREHOBL STEPHEN V, Senior VP, MCU8/MCU16 BU sold 10,000 shares of the company’s stock on May 08 ’24. The stock was sold for $908,800 at an average price of $90.88. Upon completion of the transaction, the Senior VP, MCU8/MCU16 BU now directly owns 82,203 shares in the company, valued at $7.75 million. An SEC document containing details of the transaction can be found on the SEC’s website. On Mar 07 ’24, Executive Chair SANGHI STEVE sold 36,443 shares of the business’s stock. A total of $3,392,789 was realized by selling the stock at an average price of $93.10. This leaves the insider owning 10,090,421 shares of the company worth $950.92 million. A total of 2.11% of the company’s stock is owned by insiders.
During the past 12 months, Microchip Technology, Inc. has had a low of $68.75 and a high of $96.14. As of last week, the company has a debt-to-equity ratio of 0.90, a current ratio of 1.20, and a quick ratio of 0.67.
The net profit margin was 24.98% and return on equity was 28.96% for MCHP. The company reported revenue of $1.77 billion for the quarter, compared to $2.17 billion a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue fell -18.6 percent.
