Media stories about Microchip Technology (NASDAQ:MCHP) have been trending somewhat positive on Saturday, Accern Sentiment reports. The research firm ranks the sentiment of media coverage by analyzing more than 20 million news and blog sources in real-time. Accern ranks coverage of companies on a scale of negative one to positive one, with scores closest to one being the most favorable. Microchip Technology earned a media sentiment score of 0.12 on Accern’s scale. Accern also assigned news headlines about the semiconductor company an impact score of 46.1707270041033 out of 100, meaning that recent media coverage is somewhat unlikely to have an impact on the company’s share price in the near term.
Here are some of the news headlines that may have effected Accern Sentiment’s analysis:
- Analysts Expect Microchip Technology Incorporated (NASDAQ:MCHP) to Post $1.27 EPS (americanbankingnews.com)
- Microchip Technology Inc (NASDAQ:MCHP) Institutional Investor Sentiment Is 0.91 (vothemes.com)
- BidaskClub Upgrades Microchip Technology Incorporated (NASDAQ:MCHP) to Strong-Buy (expressnewsline.com)
- Microchip Technology Incorporated (NASDAQ:MCHP) Position Reduced by Tdam USA Inc (famososartistas.com)
- Microchip Technology Inc. (MCHP) — Recommendation Trends (campdesrecrues.com)
Microchip Technology (NASDAQ MCHP) opened at 82.21 on Friday. The company has a market capitalization of $19.13 billion, a P/E ratio of 44.29 and a beta of 1.06. The firm has a 50-day moving average of $80.52 and a 200 day moving average of $76.82. Microchip Technology has a 52-week low of $57.52 and a 52-week high of $87.49.
Microchip Technology (NASDAQ:MCHP) last announced its quarterly earnings results on Thursday, August 3rd. The semiconductor company reported $1.31 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.14 by $0.17. The firm had revenue of $972.10 million for the quarter, compared to the consensus estimate of $944.87 million. Microchip Technology had a net margin of 12.53% and a return on equity of 34.33%. The firm’s quarterly revenue was up 21.6% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.84 earnings per share. Equities analysts predict that Microchip Technology will post $5.27 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 5th. Stockholders of record on Monday, August 21st will be given a $0.362 dividend. This represents a $1.45 dividend on an annualized basis and a dividend yield of 1.76%. This is a boost from Microchip Technology’s previous quarterly dividend of $0.36. The ex-dividend date of this dividend is Thursday, August 17th. Microchip Technology’s dividend payout ratio is 77.54%.
A number of research firms recently issued reports on MCHP. B. Riley reissued a “buy” rating and issued a $90.00 price target on shares of Microchip Technology in a research note on Monday, May 8th. BidaskClub raised shares of Microchip Technology from a “hold” rating to a “buy” rating in a research note on Wednesday. Jefferies Group LLC reissued a “buy” rating and issued a $94.00 price target (up from $92.00) on shares of Microchip Technology in a research note on Friday, August 4th. Mizuho reissued a “neutral” rating and issued a $84.00 price target (up from $80.00) on shares of Microchip Technology in a research note on Wednesday. Finally, Credit Suisse Group reissued a “buy” rating on shares of Microchip Technology in a research note on Friday, August 4th. Six equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus target price of $88.80.
In other Microchip Technology news, CFO James Eric Bjornholt sold 2,510 shares of the firm’s stock in a transaction that occurred on Monday, May 22nd. The shares were sold at an average price of $80.29, for a total transaction of $201,527.90. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, VP Stephen V. Drehobl sold 3,974 shares of Microchip Technology stock in a transaction on Monday, May 22nd. The shares were sold at an average price of $80.29, for a total transaction of $319,072.46. Following the completion of the transaction, the vice president now directly owns 14,263 shares in the company, valued at $1,145,176.27. The disclosure for this sale can be found here. 2.13% of the stock is currently owned by company insiders.
Microchip Technology Company Profile
Microchip Technology Incorporated is engaged in developing, manufacturing and selling specialized semiconductor products used by its customers for a range of embedded control applications. The Company operates through two segments: semiconductor products and technology licensing. In the semiconductor products segment, the Company designs, develops, manufactures and markets microcontrollers, development tools and analog, interface, mixed signal and timing products.
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