Home Analyst Ratings KeyBanc maintains Microchip Technology ’s rating to Overweight and price target at...

KeyBanc maintains Microchip Technology [MCHP]’s rating to Overweight and price target at $170

KeyBanc maintained its Microchip Technology [MCHP] rating to the equivalent of Overweight but changed the price target to $170 from $165, in a research note dated 2021-01-06. That figure represents around a 21.26% premium from where the company’s shares closed on Tuesday. Other analysts also revised their coverage, with B. Riley Securities’s analysts reiterating the shares to “a Buy” rating in a research note to investors issued in early November. Meanwhile, Citigroup had lowered its rating on MCHP to “Neutral” from the earlier “Buy”, in a research note produced for clients November 06, 2020. In addition, there was an upgrade from Morgan Stanley on October 19, 2020. The rater changed MCHP from “an Equal-weight” to “an Overweight”.

Get the hottest stocks to trade every day before the market opens 100% free. Click here now. 

Is Microchip Technology Incorporated [NASDAQ:MCHP] a Good Buy Right Now?

It should be noted that MCHP technical indicators for short, intermediate as well as long term progress have placed an overall average of 100% as Buy. The average signal changed from 88% Buy in the last week and compares with 100% Buy in the past month. Data from Microchip Technology Incorporated’s Trend Spotter indicated that the signals were Strongest. The stock current average is 1.72 million shares in the past 20 days and the short term average signal indicates a 100% Buy. In the last 50 days, the average trading volume was 1.83 million shares while the medium term average advocated for 100% Buy. The average long-term signal stands at 100% Buy and the 100-day average volume stands at 1.92 million shares.

3 Tiny Stocks Primed to Explode The world's greatest investor — Warren Buffett — has a simple formula for making big money in the markets. He buys up valuable assets when they are very cheap. For stock market investors that means buying up cheap small cap stocks like these with huge upside potential.

We've set up an alert service to help smart investors take full advantage of the small cap stocks primed for big returns.

Click here for full details and to join for free


MCHP Price Performance

On Wall Street, Microchip Technology Incorporated [NASDAQ:MCHP] finished Tuesday’s session up 2.19% at $140.19. The stock went up to $140.34 at the same session while its lowest single day price was $137.29. In the last five days, it saw a rise of about 2.89%, Microchip Technology Incorporated shares gained by almost 1.51% since the beginning of the year. However, the share price has dropped to as low as -3.54% below its one year high. On 01/04/21, the company shares recorded $142.26, the highest single-day price it has got to in the last 52-weeks and a 52-week low was seen on 01/04/21, the same year at $136.42. The company’s shares have inclined by 35.15% in the past year. The 50-day SMA achieved is $129.64 while the 200-day SMA is $105.36. Volume dropped to 1.89 million from 2.15 million in the previous session.

Microchip Technology Incorporated [MCHP] Valuation Measures

Notably, Microchip Technology Incorporated [MCHP] stock cannot be classified as a good candidate in the listing of underestimated low-priced Semiconductors companies to purchase soonest possible with the prevailing 12-month PE ratio of 59.73. The measure means the stock is exchanging at a premium as compared to the 32.75x trailing earnings of the industry. It can be helpful for investors to consider historical price-sales ratio, more specifically, a 6.91 PS value ratio is reported for the last one year of reported earnings. That is higher than the industry average of 2.64 which means MCHP serve an unattractive investment opportunity compared to its competitors.

MCHP Stock Support And Resistance Levels

On the 24-hour scale, the immediate backing is perceived around 138.21 level, and in case of violation of this particular level, it will cause more drop to 136.22 level. On the upper level, 142.32 is still the key resistance. The stock may increase to the subsequent resistance at 141.26. The Relative Strength Index (RSI) pinned on the 14-day chart is 60.95, implying a neutral technical stance while the MACD stands at 0.70, meaning price will decrease in the next trading period. Percent R indicator moved to 37.83%, implying low price movement. Stochastic %K at 45.24% suggest selling the stock.

What is the short interest in Microchip Technology Incorporated?

Short interest in the Microchip Technology Incorporated stock has surged, increasing by 5.72 million shares to total 6.37 million shares on Dec 14, 2020. The interest had seen shares on Nov 12, 2020 stand at 12.09 million, data from Yahoo Finance shows. The decrease of -89.8% suggests the stock saw some decreased bullish sentiment. The stock’s days to cover (short ratio) moved to while the shorted shares account for just 2.71% of the overall float for the stock.

Microchip Technology Incorporated’s Biggest Shareholders: Who Owns Microchip Technology Incorporated [MCHP]?

Filings by The Vanguard Group, Inc. showed that the firm now holds a total of 28,210,947 shares or roughly 10.84% of the outstanding MCHP shares. This means their shares have increased by 206,553 from the 28,210,947 the investor reportedly held in its prior 13-F filing. With the conclusion of the purchase, Dodge & Cox updated stake is worth $2,788,849,588. Details in the latest 13F filings reveal that BlackRock Fund Advisors acquired their 2.89% stake valued at $1,837,297,968 while T. Rowe Price Associates, Inc. added theirs at $1,764,818,887. During the last quarter, BlackRock Fund Advisors raised 384,124 of its shares in Microchip Technology Incorporated while T. Rowe Price Associates, Inc. bought 14,945 shares. The Janus Capital Management LLC’s holdings currently number 10,991,759 shares at $1540934694.21. According to the firm’s last 13F report, SSgA Funds Management, Inc. shares in the company at filing stood at 9,873,962 shares, roughly $1,326,961,753.

MCHP Earnings Forecast For The Current Quarter

Microchip Technology Incorporated [MCHP] is expected to report strong earnings results for the quarter ending on Dec 2020. Consensus estimates give the company expected revenues of $1.36B and an earnings per share of $1.58 for Dec 2020. Looking further ahead, the company is expected to report revenue of $1.38B at an EPS of $1.64 for Mar 2021. The estimates represent upside of 9.90% and 13.62% in the company’s revenue and earnings per share, respectively, on a year-on-year basis.

Get the hottest stocks to trade every day before the market opens 100% free. Click here now. 

MCHP Earnings Estimates For The Current Year

For the financial year, Microchip Technology Incorporated [NASDAQ:MCHP] is expected to bring in revenue of $5.35B. The returns are nearly $80.0 million higher than the company’s actual revenue recorded in the fiscal year 2020. In terms of EPS for the 2021, estimate put it at 6.27, higher than that of FY20 by $0.65. Estimates put this year’s earnings growth at 11.60%, 13.70% for the next, and at an annual 12.30% over the next 5-year period. As for sales, forecasts are for an increase of 1.50% in the current fiscal year and a further 9.90% over the following year.

Get The Best Stocks To Trade Every Day!

Join now to get the NewsHeater.com pre-market morning brief 100% free

Must Read

Palatin Technologies Inc. (PTN) stock rises during pre-market trading. What has been happening lately?

Palatin Technologies Inc. (NASDAQ: PTN) stock declined by 1.16% the last close whereas the PTN stock price gains by 3.91% in the pre-market trading...

Smith Micro Develops Inc. (SMSI) stock soars during current market trading. Here’s to know why?

Smith Micro Develops Inc. (NASDAQ: SMSI) stock surged by 2.39% during the current market trading session. Smith Micro creates software that simplifies and improves...

Drive Shack Inc. (DS) stock soars during after-hour trading, followed by no recent update

Drive Shack Inc. (NASDAQ: DS) stock declined by 3.94% at last close while the DS stock-price surged by 7.38% in the after-hour session. Drive...

SPX Flow Inc. (FLOW) stock surged during current market. Here’s why the stock is sky-rocketing?

SPX Flow Inc. (NASDAQ: FLOW) stock gained by 24.24% in the current market trading session. SPX FLOW, based in Charlotte, works to make the...

Platinum Group Metal Ltd. (PLG) stock surges during after-market trading. Here’s to know what’s happening?

Platinum Group Metal Ltd. (NASDAQ: PLG) stock declined by 8.54% at last close whereas the PLG stock price gains by 7% in the after-market...

Why did Protagenic Therapeutics Inc. (PTIX) stock commence the new week with a negative trend?

Protagenic Therapeutics Inc. (PTIX) shares declined 13.82% in the pre-market on Monday, July 26, 2021, as of this writing. In after-hours on Friday, Protagenic...

Acorda Therapeutics Inc. (ACOR) stock plunged during pre-market. Here’s what you should know.

Acorda Therapeutics Inc. (ACOR) stock rose by 24.15% at the last close whereas the ACOR stock price fell by 9.30% in the pre-market trading...

Why Socket Mobile Inc. (SCKT) stock price faced negativity in the pre-market?

Socket Mobile Inc. (SCKT) shares declined 10.18% in pre-hours to $7.50 per share. On Friday, SCKT's stock gained 43.97% to close Friday's morning session...

Related News

Ocugen Inc. (NASDAQ:OCGN) stock plunged in the premarket trading session; here’s why

At last check Ocugen Inc. (OCGN) stock had plunged by-11.92% to $9.61 in premarket trading session. OCGN stock previously closed at $10.91 losing -12.79%....

KeyBanc reiterates Magna International [MGA] rating to Overweight and sets new price target at $86

KeyBanc maintained its Magna International rating to the equivalent of Overweight but changed the price target to $86.0 from $72, in a research...

Jefferies upgrades Medifast [MED] to Buy rating with a $265 price target

Jefferies took its Medifast rating to the equivalent of Buy from Hold, and the price target to $265.0 from $205, in a research...

American Eagle Outfitters [AEO] Upgraded to Outperform at RBC Capital

RBC Capital took its American Eagle Outfitters rating to the equivalent of Outperform from Sector Perform, and the price target to $30.0 from...

KeyBanc reiterates Nike [NKE] rating to Overweight and sets new price target at $180

KeyBanc maintained its Nike rating to the equivalent of Overweight but changed the price target to $180.0 from $174, in a research note...


Please enter your comment!
Please enter your name here

Get The Best Stocks To Trade Every Day!

Join now to get the NewsHeater.com pre-market morning brief 100% free



Download Free eBook For


100% free. stop anytime no spam