Press coverage about Microchip Technology (NASDAQ:MCHP) has trended somewhat positive recently, Accern Sentiment reports. Accern ranks the sentiment of media coverage by analyzing more than 20 million blog and news sources. Accern ranks coverage of publicly-traded companies on a scale of negative one to one, with scores nearest to one being the most favorable. Microchip Technology earned a news sentiment score of 0.15 on Accern’s scale. Accern also gave press coverage about the semiconductor company an impact score of 46.825929182511 out of 100, indicating that recent media coverage is somewhat unlikely to have an impact on the stock’s share price in the next few days.
These are some of the media headlines that may have effected Accern Sentiment Analysis’s scoring:
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Microchip Technology Inc. (NASDAQ:MCHP) Receives Antitrust Clearance For Microsemi Corporation (NASDAQ:MSCC) Acquisition From China (financialstrend.com) Beijing Approves Microchip Deal, Boding Well For Qualcomm-NXP (seekingalpha.com) Free Post Earnings Research Report: Maxims Revenue Climbed 12%; Adjusted EPS Surged 30% (finance.yahoo.com) This Chipmaker’s Prospects Are Anything but Micro (finance.yahoo.com) Microchip Gets Anitrust Clearance In Five Countries For Microsemi Acquisition (nasdaq.com)
Microchip Technology traded down $0.21, hitting $92.80, during trading on Friday, Marketbeat reports. 1,434,901 shares of the stock traded hands, compared to its average volume of 2,549,797. Microchip Technology has a one year low of $75.80 and a one year high of $101.48. The company has a market capitalization of $21.88 billion, a P/E ratio of 17.78, a P/E/G ratio of 1.15 and a beta of 1.08. The company has a quick ratio of 1.43, a current ratio of 1.66 and a debt-to-equity ratio of 0.54.
Microchip Technology (NASDAQ:MCHP) last announced its quarterly earnings results on Tuesday, May 8th. The semiconductor company reported $1.40 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.27 by $0.13. Microchip Technology had a net margin of 6.41% and a return on equity of 38.62%. The firm had revenue of $1 billion during the quarter, compared to the consensus estimate of $984.80 million. During the same period last year, the firm posted $1.16 EPS. The firm’s quarterly revenue was up 11.0% on a year-over-year basis. research analysts expect that Microchip Technology will post 5.57 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Monday, June 4th. Investors of record on Monday, May 21st will be issued a dividend of $0.3635 per share. This is an increase from Microchip Technology’s previous quarterly dividend of $0.36. This represents a $1.45 annualized dividend and a yield of 1.57%. The ex-dividend date of this dividend is Friday, May 18th.
A number of equities analysts have recently commented on the stock. Morgan Stanley reduced their price objective on shares of Microchip Technology from $99.00 to $96.00 and set an “equal weight” rating for the company in a report on Wednesday, February 7th. Goldman Sachs raised shares of Microchip Technology from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $95.57 to $108.00 in a report on Thursday, March 8th. Mizuho raised shares of Microchip Technology from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $92.00 to $110.00 in a report on Monday, March 5th. KeyCorp raised shares of Microchip Technology from a “sector weight” rating to an “overweight” rating in a report on Friday, March 2nd. Finally, Zacks Investment Research raised shares of Microchip Technology from a “hold” rating to a “buy” rating and set a $98.00 price objective for the company in a report on Tuesday, April 3rd. Four analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the stock. The stock presently has an average rating of “Buy” and an average target price of $104.61.
In other Microchip Technology news, VP Mitchell R. Little sold 4,159 shares of the firm’s stock in a transaction dated Thursday, February 22nd. The shares were sold at an average price of $84.14, for a total value of $349,938.26. Following the completion of the sale, the vice president now owns 15,767 shares in the company, valued at approximately $1,326,635.38. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO James Eric Bjornholt sold 2,109 shares of the firm’s stock in a transaction dated Thursday, February 22nd. The shares were sold at an average price of $84.18, for a total transaction of $177,535.62. The disclosure for this sale can be found here. Insiders have sold a total of 33,667 shares of company stock valued at $3,132,552 over the last three months. 2.13% of the stock is currently owned by insiders.
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.
