Microchip Technology Stock (MCHP:NSD) Q3-2023 Earnings Outlook

On Thursday, Microchip Technology Stock (MCHP:NSD) Q3 Earnings outlook has been revised for 2023.

In contrast to the consensus EPS estimate of $1.45, the company offered EPS guidance of $1.54 to $1.56 for the relevant period. In contrast to the average revenue forecast of $2.08 billion, the company provided revenue guidance of $2.13 billion to $2.18 billion.

 

Microchip Technology Stock Down 1.9%

On Thursday, the opening price of MCHP stock was $66.50. The company’s fifty-day and two-hundred-day simple moving averages are $63.19 and $64.88, respectively.

Microchip Technology’s low point for the year is $54.33 and its high point is $90.00. Quick ratio for the business is 0.65, current ratio is 1.05, and debt-to-equity ratio is 1.03. The stock is valued at $36.58 billion, has a 20.34 P/E ratio, a 0.73 PEG ratio, and a 1.51 beta.

 

Increment of the Microchip Technology Stock Dividend:

A quarterly dividend was also recently issued by the company and will be paid on Tuesday, December 6. A dividend of $0.328 per share will be paid to shareholders as of Tuesday, November 22nd.

This dividend’s ex-dividend date was Monday, November 21st. This has a yield of 1.97% and a dividend value of $1.31 on an annualized basis.

The last quarterly dividend paid by Microchip Technology was $0.30, thus this is an increase. The payout ratio for Microchip Technology is 36.70%.

 

Analyst Forecasts & Price Targets:

Several research analysts have commented on the shares of MCHP. In a research report published on Wednesday, August 3rd, B. Riley increased their price target on shares of Microchip Technology from $78.00 to $86.00 and assigned the company a buy rating.

In a research note published on Tuesday, October 25th, Needham & Company LLC decreased their target price on shares of Microchip Technology from $92.00 to $82.00.

In a research note published on Wednesday, August 3rd, Cowen increased their target price on shares of Microchip Technology from $60.00 to $72.00 and rated the business as outperform.

In a research note published on Friday, November 4th, Mizuho dropped their price target on shares of Microchip Technology from $75.00 to $72.00 and assigned a neutral rating to the business.

Finally, in a research note published on Wednesday, August 3rd, Cowen increased their price objective for shares of Microchip Technology from $60.00 to $72.00 and rated the stock as outperform.

The stock has received a “Buy” rating from 16 analysts, while the stock has received a “Hold” rating from 4 analysts.

Based on the data from Stock Target Advisor, the stock currently has a Strong Buy average rating and a $76.65 consensus target price.

 

Microchip Technology Insider Transactions:

Other Microchip Technology news includes the sale on Tuesday, August 23rd of 1,000 shares of the company’s stock by Director Matthew W. Chapman. For a total transaction value of $68,210.00, the shares were sold at an average price of $68.21. The director now owns 37,682 shares in the business, valued at approximately $2,570,289.22, after the sale.

In other Microchip Technology stock news, on Monday, November 7th, Director Karlton D. Johnson sold 927 shares of the company’s stock. The shares were sold for a total sum of $59,828.58 at an average price of $64.54. The director now directly owns 1,369 shares of the firm, worth $88,355.26, after the sale.

Insiders have sold 4,306 shares of company stock in the last quarter for a total value of $290,310. Insiders of the business own 2.00% of the shares.

 

Microchip Technology Stock- Institutional Trading:

Several hedge funds and institutional investors have lately bought and sold MCHP shares. During the first quarter, Kinneret Advisory LLC grew its holdings in Microchip Technology by 2.3%. After acquiring 167 more shares during the course of the quarter, Kinneret Advisory LLC now owns 7,495 shares of the semiconductor company’s stock, valued at $563,000 in total.

During the first quarter, Covestor Ltd grew its holdings in Microchip Technology by 48.2%. Covestor Ltd now owns 185 more shares of the semiconductor company’s stock, bringing its total share count to 569, valued at $43,000.

During the first quarter, First Commonwealth Financial Corp PA grew its holdings in Microchip Technology by 2.8%. After acquiring an additional 212 shares over the course of the period, First Commonwealth Financial Corp PA now owns 7,831 shares of the semiconductor company’s stock, valued at $588,000.

During the first quarter, KB Financial Partners LLC grew its holdings in Microchip Technology shares by 36.1%. KB Financial Partners LLC acquired an additional 245 shares during the period, for a total acquisition of 923 shares, valued at $69,000.

And finally, during the first quarter, Wetherby Asset Management Inc. raised its holdings in Microchip Technology shares by 3.5%. After purchasing an additional 261 shares over the course of the period, Wetherby Asset Management Inc. now owns 7,691 shares of the semiconductor company’s stock, valued at $578,000.

Institutional investors and hedge funds currently hold 89.81% of the stock.

 

About Microchip Technologies (MCHP:NSD):

Microchip Technology Incorporated develops, manufactures, and sells smart, connected, and secure embedded control solutions in the Americas, Europe, and Asia. The company offers general purpose 8-bit, 16-bit, and 32-bit microcontrollers; 32-bit embedded microprocessors markets; and specialized microcontrollers for automotive, industrial, computing, communications, lighting, power supplies, motor control, human machine interface, security, wired connectivity, and wireless connectivity applications.

Further, it offers wafer foundry and assembly, and test subcontracting manufacturing services; and timing systems products, application specific integrated circuits, and aerospace products. Microchip Technology Incorporated was incorporated in 1989 and is headquartered in Chandler, Arizona.