Microchip Technology’s (MCHP) “Strong-Buy” Rating Reiterated at Raymond James

Raymond James reiterated their strong-buy rating on shares of Microchip Technology (NASDAQ:MCHP) in a report released on Friday morning,Benzinga reports. They currently have a $60.00 price objective on the semiconductor company’s stock, down from their prior price objective of $95.00.

Several other equities analysts have also weighed in on the stock. Stifel Nicolaus cut their target price on shares of Microchip Technology from $90.00 to $87.00 and set a “buy” rating for the company in a report on Tuesday, December 3rd. B. Riley reaffirmed a “buy” rating and set a $75.00 target price (down from $85.00) on shares of Microchip Technology in a report on Friday. Susquehanna cut their price target on shares of Microchip Technology from $95.00 to $90.00 and set a “positive” rating for the company in a report on Wednesday, November 6th. TD Cowen cut their price target on shares of Microchip Technology from $80.00 to $70.00 and set a “hold” rating for the company in a report on Wednesday, November 6th. Finally, Morgan Stanley cut their price target on shares of Microchip Technology from $71.00 to $58.00 and set an “equal weight” rating for the company in a report on Tuesday, February 4th. One research analyst has rated the stock with a sell rating, five have issued a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Microchip Technology presently has a consensus rating of “Moderate Buy” and an average price target of $77.11.

Microchip Technology Stock Performance

Shares of NASDAQ MCHP opened at $51.89 on Friday. The company has a current ratio of 0.88, a quick ratio of 0.48 and a debt-to-equity ratio of 0.71. The stock has a market cap of $27.87 billion, a price-to-earnings ratio of 92.66 and a beta of 1.50. The company has a 50 day simple moving average of $57.71 and a two-hundred day simple moving average of $69.84. Microchip Technology has a 12 month low of $50.21 and a 12 month high of $100.57.

Microchip Technology (NASDAQ:MCHP) last posted its earnings results on Thursday, February 6th. The semiconductor company reported $0.13 earnings per share for the quarter, missing the consensus estimate of $0.28 by ($0.15). Microchip Technology had a net margin of 6.49% and a return on equity of 12.41%. As a group, analysts predict that Microchip Technology will post 1.3 earnings per share for the current year.

Microchip Technology Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, March 7th. Stockholders of record on Monday, February 24th will be given a dividend of $0.455 per share. The ex-dividend date of this dividend is Monday, February 24th. This represents a $1.82 annualized dividend and a dividend yield of 3.51%. Microchip Technology’s payout ratio is 325.00%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the company. Corundum Group Inc. boosted its position in shares of Microchip Technology by 3.4% during the 3rd quarter. Corundum Group Inc. now owns 4,315 shares of the semiconductor company’s stock valued at $346,000 after acquiring an additional 143 shares during the last quarter. Financial Advocates Investment Management lifted its position in Microchip Technology by 1.5% in the third quarter. Financial Advocates Investment Management now owns 10,795 shares of the semiconductor company’s stock valued at $867,000 after buying an additional 158 shares during the last quarter. Metis Global Partners LLC lifted its position in Microchip Technology by 1.0% in the third quarter. Metis Global Partners LLC now owns 17,161 shares of the semiconductor company’s stock valued at $1,378,000 after buying an additional 172 shares during the last quarter. Americana Partners LLC lifted its position in Microchip Technology by 5.5% in the third quarter. Americana Partners LLC now owns 3,441 shares of the semiconductor company’s stock valued at $276,000 after buying an additional 179 shares during the last quarter. Finally, Plato Investment Management Ltd lifted its position in Microchip Technology by 5.8% in the third quarter. Plato Investment Management Ltd now owns 3,499 shares of the semiconductor company’s stock valued at $281,000 after buying an additional 191 shares during the last quarter. Institutional investors and hedge funds own 91.51% of the company’s stock.

Microchip Technology Company Profile

Microchip Technology Incorporated engages in the development, manufacture, and sale of 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 mixed-signal microcontrollers; 32-bit embedded mixed-signal microprocessors; and specialized microcontrollers for automotive, industrial, computing, communications, lighting, power supplies, motor control, human machine interface, security, wired connectivity, and wireless connectivity applications.