Microchip Technology, Inc. (NASDAQ:MCHP) shares, rose in value, with the stock price down by -2.13% to the previous day’s close as strong demand from buyers drove the stock to $86.26.
Actively observing the price movement in the last trading, the stock closed the session at $88.14. The value of beta (5-year monthly) was 1.64 whereas the PE ratio was 20.16 over 12-month period. Referring to stock’s 52-week performance, its high was $94.30, and the low was $68.75. On the whole, MCHP has fluctuated by 0.72% over the past month.
With the market capitalization of Microchip Technology, Inc. currently standing at about $46.61 billion, investors are eagerly awaiting this quarter’s results, scheduled for May 02, 2024 – May 06, 2024. The company’s Forward Dividend Ratio is 1.68, with its dividend yield at 1.95%. As a result, investors might want to see an improvement in the stock’s price before the company announces its earnings report. Analysts are projecting the company’s earnings per share (EPS) to be $0.57, which is expected to increase to $0.7 for fiscal year $4.91 and then to about $3.13 by fiscal year 2025. Data indicates that the EPS growth is expected to be -18.40% in 2025, while the next year’s EPS growth is forecast to be -36.30%.
Analysts have estimated the company’s revenue for the quarter at $1.33 billion, with a low estimate of $1.32 billion and a high estimate of $1.37 billion. According to the average forecast, sales growth in current quarter could jump down -40.40%, compared to the corresponding quarter of last year. Wall Street analysts also predicted that in 2025, the company’s y-o-y revenues would reach $7.66 billion, representing a decrease of -9.20% from the revenues reported in the last year’s results.
Revisions could be a useful indicator to get insight on short-term price movement; so for the company, there were no upward and no downward review(s) in last seven days. We see that MCHP’s technical picture suggests that short-term indicators denote the stock is a 50% Buy on average. However, medium term indicators have put the stock in the category of 50% Buy while long term indicators on average have been pointing out that it is a 100% Buy.
The stock’s technical analysis shows that the PEG ratio is about 0, with the price of MCHP currently trading nearly -3.08% and -0.23% away from the simple moving averages for 20 and 50 days respectively. The Relative Strength Index (RSI, 14) currently indicates a reading of 45.62, while the 7-day volatility ratio is showing 2.41% which for the 30-day chart, stands at 2.85%. Furthermore, Microchip Technology, Inc. (MCHP)’s beta value is 1.62, and its average true range (ATR) is 2.48.
A comparison of Microchip Technology, Inc. (MCHP) with its peers suggests the former has fared considerably weaker in the market. MCHP showed an intraday change of -2.13% in last session, and over the past year, it grew by 4.29%%.
Data on historical trading for Microchip Technology, Inc. (NASDAQ:MCHP) indicates that the trading volumes over the past 10 days have averaged 4.07 million and over the past 3 months, they’ve averaged 5.67 million. According to company’s latest data on outstanding shares, there are 545.46 million shares outstanding.
Nearly 2.11% of Microchip Technology, Inc.’s shares belong to company insiders and institutional investors own 92.89% of the company’s shares. The data on short interest also indicates that stock shorts accounted for 25.39 million shares as on Mar 15, 2024, resulting in a short ratio of 4.06. According to the data, the short interest in Microchip Technology, Inc. (MCHP) stood at 4.70% of shares outstanding as of Mar 15, 2024; the number of short shares registered in Feb 15, 2024 reached 21.26 million. The stock has fallen by -4.35% since the beginning of the year, thereby showing the potential of a further growth. This could raise investors’ confidence to be optimistic about the MCHP stock heading into the next quarter.
