Microchip Technology (MCHP) Earning Somewhat Favorable Media Coverage, Report Finds

News headlines about Microchip Technology (NASDAQ:MCHP) have trended somewhat positive this week, Accern reports. Accern ranks the sentiment of media coverage by analyzing more than twenty million blog and news sources in real-time. Accern ranks coverage of public companies on a scale of negative one to one, with scores closest to one being the most favorable. Microchip Technology earned a media sentiment score of 0.13 on Accern’s scale. Accern also gave news stories about the semiconductor company an impact score of 46.1804421282523 out of 100, indicating that recent media coverage is somewhat unlikely to have an effect on the stock’s share price in the immediate future.

Shares of Microchip Technology stock traded up $0.54 during trading on Wednesday, hitting $82.98. The stock had a trading volume of 2,701,946 shares, compared to its average volume of 3,203,626. The company has a market cap of $19,778.56, a P/E ratio of 22.80, a price-to-earnings-growth ratio of 1.05 and a beta of 1.06. The company has a debt-to-equity ratio of 0.95, a current ratio of 2.98 and a quick ratio of 2.33. Microchip Technology has a 1 year low of $74.55 and a 1 year high of $101.48.

Microchip Technology (NASDAQ:MCHP) last announced its quarterly earnings data on Tuesday, February 6th. The semiconductor company reported $1.36 EPS for the quarter, beating the Zacks’ consensus estimate of $1.35 by $0.01. Microchip Technology had a net margin of 6.33% and a return on equity of 36.54%. The firm had revenue of $994.10 million for the quarter, compared to the consensus estimate of $992.10 million. During the same period in the previous year, the firm posted $1.05 earnings per share. The firm’s revenue was up 19.1% on a year-over-year basis. analysts expect that Microchip Technology will post 5.13 EPS for the current fiscal year.

A number of analysts recently commented on the stock. BidaskClub downgraded shares of Microchip Technology from a “buy” rating to a “hold” rating in a report on Wednesday, April 18th. Stifel Nicolaus reissued an “average” rating and issued a $112.00 target price on shares of Microchip Technology in a research report on Tuesday, March 6th. Argus reissued a “buy” rating and issued a $90.00 target price (up from $79.90) on shares of Microchip Technology in a research report on Friday, February 9th. Rosenblatt Securities reissued a “buy” rating on shares of Microchip Technology in a research report on Tuesday, March 6th. Finally, Needham & Company LLC reissued a “buy” rating and issued a $130.00 target price on shares of Microchip Technology in a research report on Friday, March 2nd. Five equities research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the stock. The stock has an average rating of “Buy” and an average price target of $103.99.

In related news, Director Esther Johnson sold 2,275 shares of the business’s stock in a transaction that occurred on Wednesday, March 14th. The shares were sold at an average price of $97.90, for a total transaction of $222,722.50. Following the transaction, the director now directly owns 6,081 shares of the company’s stock, valued at $595,329.90. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Steve Sanghi sold 20,124 shares of the business’s stock in a transaction that occurred on Tuesday, March 6th. The shares were sold at an average price of $94.80, for a total transaction of $1,907,755.20. The disclosure for this sale can be found here. Insiders have sold 33,667 shares of company stock worth $3,132,552 over the last ninety days. 2.13% of the stock is currently owned by insiders.

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About Microchip Technology

Microchip Technology Incorporated develops, manufactures, and sells semiconductor products for various embedded control applications. The company offers general purpose and specialized 8-bit, 16-bit, and 32-bit microcontrollers; and microcontrollers for automotive networking, computing, lighting, power supplies, motor control, human machine interface, security, wired connectivity, and wireless connectivity.

Insider Buying and Selling by Quarter for Microchip Technology (NASDAQ:MCHP)

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