95.74 0.00 (0.00%)
After hours: 5:23PM EDT
Price Crosses Moving Average
|Bid||94.00 x 800|
|Ask||95.70 x 900|
|Day's Range||94.05 - 96.64|
|52 Week Range||53.15 - 112.47|
|Beta (5Y Monthly)||1.60|
|PE Ratio (TTM)||42.93|
|Earnings Date||Aug 04, 2020 - Aug 10, 2020|
|Forward Dividend & Yield||1.47 (1.53%)|
|Ex-Dividend Date||May 20, 2020|
|1y Target Est||102.42|
We at Insider Monkey have gone over 821 13F filings that hedge funds and prominent investors are required to file by the SEC The 13F filings show the funds' and investors' portfolio positions as of March 31st, near the height of the coronavirus market crash. In this article, we look at what those funds think […]
To support cloud, data center and hyperscale computing that facilitates advancements in Artificial Intelligence (AI) and Machine Learning (ML), Microchip Technology Inc. (Nasdaq: MCHP) today released to production its Switchtec™ PAX Advanced Fabric Gen 4 PCIe switch family, enabling complex fabric topologies with greater scalability, lower latency, and higher performance than traditional Peripheral Component Interconnect Express (PCIe) switches.
The Senior Secured Notes will bear interest at an annual rate of 2.670 percent and the Senior Notes will bear interest at annual rate of 4.250 percent. Any remaining net proceeds from the offering of the Notes will be used for general corporate purposes, which may include the repayment of a portion of the amounts outstanding under Microchip’s revolving credit facility.
The global case tally from the coronavirus that causes COVID-19 climbed above 5.5 million on Tuesday, as the World Health Organization warned of the possibility of an immediate “second peak” in infections from the current wave, if countries and local governments ease measures to contain the spread too soon.
Moody's Investors Service ("Moody's") affirmed the Ba1 corporate family rating and Baa3 senior secured rating of Microchip Technology Inc. ("Microchip") following the company's announcement that it has agreed to exchange $1.2 billion in aggregate principal amount of senior unsecured convertible notes and fund the cash portion of the exchange with a $1.2 billion senior unsecured note. Concurrently, Microchip is offering a new $1 billion secured note with proceeds partly used to refinance a $615 million, 364 day secured bridge facility. Remaining proceeds may be used to reduce revolving credit outstanding and for general corporate purposes.
Finding a reliable stock strategy is a key to sanity in this Age of Coronavirus. The pandemic has pushed governments to impost extreme economic shutdown orders, as part of a larger society ‘stay at home’ policy. The result has been a stoppage of business, a decline in earnings, and a sudden sharp turn from steady economic growth to a deep recessionary event, perhaps even a Depression. And so, for investors, a reliable stock strategy is both necessary and hard to find.One strategy is to follow the insiders. Insiders are the corporate officers and board members charged with running and overseeing public companies. Their positions give them access to information that’s not always available to the general public. To keep the playing field honest, Federal regulators require that insiders publish their trades – and that information can be used by the general public for trading purposes.When the insiders make large purchases, laying down large sums for hefty blocs of shares, it can be taken as a clear sign of confidence. So following their purchases is a viable strategy for finding potentially profitable stock plays.TipRanks has the tools to help you do just that. The Insiders’ Hot Stocks page shows which stocks top insiders are most active on, for both purchases and sales. You can sort insider trades by a variety of filters, including trading strategy. We’ve done some of the legwork for you, and pulled up three stocks with recent informative buy-side transactions. Here are the results.Microchip Technology (MCHP)We’ll start in the semiconductor chip industry. Microchip is a major name in the industry, boasting a market cap of $21.5 billion and the sixth largest sales share among its peers. The company’s focus is on microcontroller and microprocessor chips for memory solutions, power managements apps, and wireless connection devices. These are essential components in today’s digital world – Microchip never has a problem finding customers.Two important company officers have bought up large blocs of shares in recent days. First up was Steve Sanghi, CEO and Chairman, who put down $3.1 million to buy 37,000 shares. Also buying shares was Senior VP Richard Simoncic, who bought over 6,000 shares for more than $501K. This is a substantial fraction of his total $4.8 million holding.The calendar Q1 performance shows the company’s quality. MCHP reported strong EPS, of $1.46, beating the forecast by over 6%. Revenues, while missing the estimates, did grow over 3% sequentially, to $1.33 billion. Management attributed the mixed results to the impact of coronavirus on demand – weak demand in the automotive, industrial, and consumer segments meant that those manufacturers in turn had weak demand for Microchip’s products. At the same time, communication and data center demand grew, as a direct result of the move toward remote office work and customer service.Writing on the stock for Piper Sandler, 5-star analyst Harsh Kumar notes that Microchip’s forward guidance was squarely in line with expectations, and that the company is taking a cautious approach to the 2020 sales environment. Kumar writes, “Looking to the mid and long-term, we continue to like Microchip, as it remains one of the best positioned and most profitable semiconductor companies. Even in the current environment, free cash flow and debt pay down were both exceptional.”Kumar places a Buy rating on MCHP shares, and that backs that with a $120 price target suggesting a 36% upside potential for the coming 12 months. (To watch Kumar’s track record, click here)The Strong Buy analyst consensus rating on this stock is based on 16 reviews, including 13 Buys and 3 Holds. Shares are priced at $87.81, while the average target of $102.56 implies a 16% upside potential. (See Microchip stock analysis on TipRanks)Arconic (ARNC)Last on today’s list is Arconic, a name you may not have heard of in its current incarnation. This company is a spin-off from the aluminum giant Alcoa. Arconic became an independent entity, controlling the parent company’s bauxite and aluminum operations, last November. The new company’s focus is lightweight metals engineering and precision manufacturing. Arconic’s products are used in the aerospace, automotive, commercial transport, defense, electronics, and oil and gas fields. Arconic is particularly well-known for turbine blades. ARNC shares started trading this past March. Since it opened trading less than three months ago, ARCN shares are up 46%.In recent days, no fewer than 5 of Arconic’s insiders have bought up blocs of shares. The prices paid ranged from $114,000 to $346,000. The two largest purchases were by directors: William Austen bought 17,620 shares for $202,000, and Frederick Henderson bought 33,200 shares for $346,000. These purchases are a clear indicator for investors that this company’s officers are confident in its future.Also confident is Credit Suisse analyst Curt Woodworth, who writes, “ARNC is a high-quality producer of aluminum alloy rolled products with significant leverage to secular growth in automotive and packaging, and a LT recovery in aerospace. We see 3Q as a major inflection point as Ford and GM truck / SUV production sharply accelerates and OEMs need to restock heat-treat plate, which has limited shelf life.”Woodworth puts a $22 price target on ARNC shares, implying a strong 71% upside as he initiates coverage on this new industrial stock. (To watch Woodworth’s track record, click here)While ARNC has only two recent reviews (it is a new stock, after all), they combine to a Moderate Buy rating. Shares are selling for $12.84, after two months of solid gains, and the average price target of $19.50 suggests the stock has room for a 51% upside this year. (See Arconic stock analysis on TipRanks)Clipper Realty, Inc. (CLPR)Next up is a real estate investment trust (REIT). These companies typically offer investors a solid combination of firm financial and reliable dividends. Clipper Realty owns, manages and operates commercial properties and multi-family residential (that’s apartments) properties, in and around the New York City area.Two insiders have made informative buys here in the past 7 days. The larger purchase was by David Bistricer, a director of the company. He bought up 106,666 shares for $611,000. His Board colleague, Sam Levinson, made a smaller purchase of 14,334 shares, paying over $82,000. CLPR showed $30.9 million in revenue for Q1 2020, up more than 11% from the year before. Net operating income, at $17.1 million, was a company record – but better for investors, was also up 16% year-over-year. The strong income supported a dividend of 9.5 cents per share for the quarter. CLPR’s dividend has been steady for the past three years, and the current payout ratio, of 73%, is a clear attraction for investors interested in an income stock. The yield, at 5.6%, is almost triple the average yield among financial sector peers.The stock has only one recent analyst review, by B. Riley FBR analyst Craig Kucera, but he wears his bullishness on his sleeve. His Buy rating is backed up with a $14 price target – which implies a robust 107% one-year upside potential. (To watch Kucera’s track record, click here)Kucera writes of CLPR, “1Q20 results were ahead of expectations, and April cash rent collections from CLPR's diversified portfolio of residential, office, and retail assets located in the greater NYC metro were at 94%... we believe CLPR's decision to significantly increase its liquidity during a challenging NYC commercial real estate environment related to COVID-19 was prudent.”To find good ideas for stocks trading at attractive valuations, visit TipRanks’ Best Stocks to Buy, a newly launched tool that unites all of TipRanks’ equity insights.
Microchip Technology Inc. said Tuesday it is planning to issue $2.2 billion worth of bonds to raise the funds needed to repay a senior secured bridge loan and finance the cash portion of an exchange of convertible bonds. The Chandler, Ariz.-based company said it will issue $1.0 billion of senior secured notes, and $1.2 billion of senior notes. Shares were up 2.4% premarket but are down 16% in the year to date, while the S&P 500 has fallen 9%.
CHANDLER, Ariz., May 26, 2020 -- Microchip Technology Incorporated (NASDAQ: MCHP) (“Microchip,” “we” or “our”) announced today that it has commenced offerings of $1.0 billion.
With the rise of Artificial Intelligence (AI), Machine Learning (ML) and the Internet of Things (IoT), applications are moving to the network edge where data is collected, requiring power-efficient solutions to deliver more computational performance in ever smaller, thermally constrained form factors. Through its Smart Embedded Vision initiative, Microchip Technology Inc. (Nasdaq: MCHP) is meeting the growing need for power-efficient inferencing in edge applications by making it easier for software developers to implement their algorithms in PolarFire® field-programmable gate arrays (FPGAs). As a significant addition to the solutions portfolio in this segment, Microchip's VectorBlox Accelerator Software Development Kit (SDK) helps developers take advantage of Microchip's PolarFire FPGAs for creating low-power, flexible overlay-based neural network applications without learning an FPGA tool flow.
Qualcomm is pleased with how Chinese 5G phone sales are trending, while TI is cautious about how customer orders might trend in the near-term.
CHANDLER, Ariz., May 11, 2020 -- (NASDAQ:MCHP) – Microchip Technology Incorporated, a leading provider of smart, connected and secure embedded control solutions, announced.
Is Microchip Technology Incorporated (NASDAQ:MCHP) a good dividend stock? How can we tell? Dividend paying companies...
Inphi stock gapped up Friday after the data-center chipmaker delivered a beat-and-raise quarterly report. Qorvo, Microchip and Power Integrations also posted March-quarter results.
Microchip's (MCHP) fourth-quarter results reflect strength in demand across communication and data center end-markets. Moreover, solid demand of microcontrollers holds promise.
Microchip Technology Inc. shares ticked higher in the extended session Thursday after the chip maker topped Wall Street estimates for the quarter. Microchip Technology shares rose 1.1% after hours, following a 2.1% rise in the regular session to close at $85.50. The company reported fiscal fourth-quarter net income of $99.9 million, or 39 cents a share, compared with $174.7 million, or 70 cents a share, in the year-ago period. Adjusted earnings were $1.46 a share, compared $1.48 a share in the year-ago period. Revenue came in flat at $1.33 billion compared with $1.33 billion in the year-ago quarter. Analysts surveyed by FactSet had forecast earnings of $1.35 a share on revenue of $1.32 billion. Microchip expects adjusted fiscal first-quarter earnings of $1.25 to $1.45 a share on revenue of $1.19 billion to $1.3 billion, while analysts had forecast on earnings of $1.25 a share on revenue of $1.25 billion. "Although our backlog for the June quarter started out much higher than the opening backlog for the March quarter, we have seen a combination of deteriorating bookings, customer pushout of orders and cancellations since the middle of April," said Steve Sanghi, Microchip chief executive, in a statement. "We believe our backlog position for the June quarter will continue to deteriorate compared to the March quarter due to the combined effect of supply chain disruptions, customer factory closures and demand destruction. Taking these factors into consideration, we expect our net sales in the June quarter to be down between 2% and 10% sequentially. The broad guidance range is to help account for the uncertainty caused by the COVID-19 pandemic."
CHANDLER, Ariz., May 07, 2020 (GLOBE NEWSWIRE) -- (MCHP) – Microchip Technology Incorporated, a leading provider of smart, connected and secure embedded control solutions, today announced that its Board of Directors has declared a quarterly cash dividend on its common stock of 36.75 cents per share. The dividend is payable on June 4, 2020 to stockholders of record on May 21, 2020. “Microchip’s financial performance in the March 2020 quarter was very good with the backdrop of a very uncertain economic environment,” said Steve Sanghi, Chief Executive Officer.
For the quarter ended March 31, 2020 Net sales of $1.326 billion, up 3.0% sequentially and down 0.3% from the year ago quarter. Our updated guidance provided on.
As the Internet of Things (IoT) delivers greater connectivity for industrial and home applications and as connected vehicles enhance cabin and operational features, higher-performance microcontrollers are required for better real-time control as well as to enable enhanced human machine interface applications. Microchip Technology Inc. (Nasdaq: MCHP) today announced its next generation AVR®-DA family of microcontrollers (MCUs) - its first Functional Safety Ready AVR MCU family with Peripheral Touch Controller (PTC).
Here is a sneak peek on how five notable semiconductor stocks are poised ahead of their upcoming quarterly results scheduled for May 7.
Microchip Technology (MCHP) is seeing favorable earnings estimate revision activity and has a positive Zacks Earnings ESP heading into earnings season.
Uber and Lyft's cash burn, Microchip's demand commentary and Shopify's GMV growth are among the things that tech investors might want to keep an eye on.
Microchip (MCHP) fiscal fourth-quarter results are likely to reflect growth in bookings triggered by coronavirus crisis-induced supply chain disruptions.