In yesterday’s Wall Street session, Microchip Technology, Inc (NASDAQ:MCHP) shares traded at $59.93, down -2.55% from the previous session.
MCHP stock price is now -15.21% away from the 50-day moving average and -27.75% away from the 200-day moving average. The market capitalization of the company currently stands at $31.36B.
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With the price target reduced from $80 to $70, TD Cowen maintained Hold rating for Microchip Technology, Inc (NASDAQ: MCHP). On September 23, 2024, Truist Downgraded its previous ‘Buy’ rating to ‘Hold’ on the stock reducing its target price from $89 to quote $80, while ‘Piper Sandler’ rates the stock as ‘Overweight’
In other news, Bjornholt James Eric, SENIOR VP AND CFO sold 4,688 shares of the company’s stock on Nov 25 ’24. The stock was sold for $317,612 at an average price of $67.75. Upon completion of the transaction, the SENIOR VP AND CFO now directly owns 33,272 shares in the company, valued at $1.99 million. An SEC document containing details of the transaction can be found on the SEC’s website. On Nov 25 ’24, Officer Bjornholt James Eric bought 4,688 shares of the business’s stock. A total of $317,121 was incurred on buying the stock at an average price of $67.65. A total of 2.13% of the company’s stock is owned by insiders.
During the past 12 months, Microchip Technology, Inc has had a low of $57.96 and a high of $100.57. As of last week, the company has a debt-to-equity ratio of 1.03, a current ratio of 0.88, and a quick ratio of 0.48. According to the stock market information, the enterprise value for the company is $38354522112, which is based on a 41.80 price-to-earnings ratio, a 2.09 price-to-earnings-growth ratio, and a beta of 1.49. The fifty day moving average price for MCHP is $70.6828 and a two-hundred day moving average price translates $82.9446 for the stock.
The latest earnings results from Microchip Technology, Inc (NASDAQ: MCHP) was released for 2024-09-30. The net profit margin was 14.22% and return on equity was 11.80% for MCHP. The company reported revenue of $1.16 billion for the quarter, compared to $2.25 billion a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue fell -48.37 percent.
