Microchip Technology, Inc. (NASDAQ:MCHP) shares traded 2.59% higher at $88.78 on Wall Street last session.
MCHP stock price is now -4.16% away from the 50-day moving average and 1.86% away from the 200-day moving average. The market capitalization of the company currently stands at $47.63B.
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With the price target reduced from $102 to $100, Morgan Stanley Downgraded its rating from Overweight to Equal-Weight for Microchip Technology, Inc. (NASDAQ: MCHP). On May 24, 2024, Mizuho Upgraded its previous ‘Neutral’ rating to ‘Buy’ on the stock increasing its target price from $85 to quote $115, while ‘Jefferies’ rates the stock as ‘Buy’
In other news, CHAPMAN MATTHEW W, Director sold 2,748 shares of the company’s stock on Jun 10 ’24. The stock was sold for $257,982 at an average price of $93.88. Upon completion of the transaction, the Director now directly owns 35,682 shares in the company, valued at $3.17 million. An SEC document containing details of the transaction can be found on the SEC’s website. On May 31 ’24, Director Johnson Karlton D sold 227 shares of the business’s stock. A total of $22,019 was realized by selling the stock at an average price of $97.00. This leaves the insider owning 1,470 shares of the company worth $0.13 million. A total of 2.10% 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 $100.57. As of last week, the company has a debt-to-equity ratio of 0.93, a current ratio of 1.20, and a quick ratio of 0.67. The fifty day moving average price for MCHP is $92.5192 and a two-hundred day moving average price translates $87.19785 for the stock.
The latest earnings results from Microchip Technology, Inc. (NASDAQ: MCHP) was released for 2024-03-31. The net profit margin was 24.98% and return on equity was 28.96% for MCHP. The company reported revenue of $1.33 billion for the quarter, compared to $2.23 billion a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue fell -40.62 percent.
