Somewhat Positive Media Coverage Somewhat Unlikely to Affect Microchip Technology (MCHP) Share Price
News coverage about Microchip Technology (NASDAQ:MCHP) has been trending somewhat positive this week, Accern Sentiment Analysis reports. The research group scores the sentiment of news coverage by monitoring more than 20 million blog and news sources in real time. Accern ranks coverage of public companies on a scale of negative one to one, with scores closest to one being the most favorable. Microchip Technology earned a daily sentiment score of 0.09 on Accern’s scale. Accern also assigned press coverage about the semiconductor company an impact score of 47.0920162843261 out of 100, indicating that recent news coverage is somewhat unlikely to have an effect on the stock’s share price in the near future.
Here are some of the media headlines that may have impacted Accern Sentiment’s rankings:
- Bitcoin could climb to 25,000 before the Dow (finance.yahoo.com)
- Microchip Technology Incorporated (MCHP) Stake Lowered by Engineers Gate Manager LP (nismagazine.com)
- Reviewing the Current Circumstance for Microchip Technology Incorporated (MCHP), Gilead Sciences, Inc. (GILD) – Market Movers (financialqz.com)
- Microchip Technology (MCHP) Given New $99.00 Price Target at Morgan Stanley (americanbankingnews.com)
- Up-to-the-minute Analysts Reports: Micron Technology, Inc. (MU), Microchip Technology Incorporated (MCHP) – Market Movers (financialqz.com)
MCHP has been the topic of several analyst reports. Zacks Investment Research raised shares of Microchip Technology from a “hold” rating to a “buy” rating and set a $102.00 price target on the stock in a report on Friday, November 10th. Morgan Stanley lifted their price target on shares of Microchip Technology from $97.00 to $99.00 and gave the stock an “equal weight” rating in a report on Wednesday. Jefferies Group lifted their price target on shares of Microchip Technology from $106.00 to $110.00 and gave the stock a “buy” rating in a report on Tuesday, November 7th. J P Morgan Chase & Co reaffirmed an “overweight” rating and issued a $120.00 price target on shares of Microchip Technology in a report on Tuesday, November 7th. Finally, Credit Suisse Group reaffirmed an “outperform” rating and issued a $110.00 price target (up from $95.00) on shares of Microchip Technology in a report on Tuesday, November 7th. Five equities research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. Microchip Technology presently has a consensus rating of “Buy” and a consensus target price of $99.71.
Microchip Technology (NASDAQ:MCHP) last announced its quarterly earnings data on Monday, November 6th. The semiconductor company reported $1.41 earnings per share for the quarter, beating analysts’ consensus estimates of $1.27 by $0.14. The firm had revenue of $1.01 billion for the quarter, compared to analyst estimates of $1 billion. Microchip Technology had a net margin of 16.23% and a return on equity of 35.48%. The business’s quarterly revenue was up 16.2% compared to the same quarter last year. During the same period in the previous year, the company earned $0.94 earnings per share. equities research analysts forecast that Microchip Technology will post 5.12 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Tuesday, December 5th. Stockholders of record on Tuesday, November 21st were issued a dividend of $0.3625 per share. The ex-dividend date was Monday, November 20th. This is a positive change from Microchip Technology’s previous quarterly dividend of $0.36. This represents a $1.45 dividend on an annualized basis and a dividend yield of 1.67%. Microchip Technology’s payout ratio is 58.00%.
In other news, CFO James Eric Bjornholt sold 1,801 shares of the business’s stock in a transaction on Wednesday, November 22nd. The shares were sold at an average price of $91.66, for a total transaction of $165,079.66. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, VP Stephen V. Drehobl sold 2,852 shares of the business’s stock in a transaction on Wednesday, November 22nd. The shares were sold at an average price of $91.66, for a total transaction of $261,414.32. Following the sale, the vice president now directly owns 15,767 shares in the company, valued at $1,445,203.22. The disclosure for this sale can be found here. 2.13% of the stock is owned by insiders.
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About Microchip Technology
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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