Microchip Technology (NASDAQ:MCHP) Price Target Cut to $75.00 by Analysts at Susquehanna

Microchip Technology (NASDAQ:MCHP) had its price objective lowered by analysts at Susquehanna from $85.00 to $75.00 in a report released on Friday,Benzinga reports. The firm presently has a “positive” rating on the semiconductor company’s stock. Susquehanna’s target price would suggest a potential upside of 39.92% from the company’s current price.

A number of other analysts have also weighed in on MCHP. Needham & Company LLC dropped their price objective on Microchip Technology from $77.00 to $73.00 and set a “buy” rating for the company in a research note on Friday. Morgan Stanley boosted their target price on Microchip Technology from $63.00 to $68.00 and gave the company an “equal weight” rating in a research note on Tuesday. TD Cowen dropped their price target on Microchip Technology from $65.00 to $60.00 and set a “hold” rating for the company in a research note on Friday. Stifel Nicolaus reduced their price objective on shares of Microchip Technology from $82.00 to $75.00 and set a “buy” rating on the stock in a research report on Friday. Finally, Raymond James Financial upped their price objective on shares of Microchip Technology from $65.00 to $75.00 and gave the stock a “strong-buy” rating in a report on Friday, August 8th. One analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating, seven have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $74.32.

Microchip Technology Price Performance

Shares of MCHP traded down $5.75 during midday trading on Friday, reaching $53.60. The stock had a trading volume of 6,064,948 shares, compared to its average volume of 9,635,962. The company has a market capitalization of $28.93 billion, a price-to-earnings ratio of -157.95, a price-to-earnings-growth ratio of 1.79 and a beta of 1.57. The company’s 50-day moving average is $64.42 and its 200 day moving average is $63.97. The company has a current ratio of 2.31, a quick ratio of 1.33 and a debt-to-equity ratio of 0.80. Microchip Technology has a 12-month low of $34.13 and a 12-month high of $77.20.

Microchip Technology (NASDAQ:MCHP) last posted its quarterly earnings results on Thursday, November 6th. The semiconductor company reported $0.35 EPS for the quarter, topping the consensus estimate of $0.33 by $0.02. The firm had revenue of $1.14 billion for the quarter, compared to the consensus estimate of $1.13 billion. Microchip Technology had a negative net margin of 3.50% and a positive return on equity of 6.24%. The business’s revenue was down 2.0% compared to the same quarter last year. During the same period last year, the firm posted $0.46 earnings per share. Microchip Technology has set its Q3 2026 guidance at 0.340-0.400 EPS. On average, equities analysts predict that Microchip Technology will post 1.03 EPS for the current fiscal year.

Insiders Place Their Bets

In other Microchip Technology news, CFO James Eric Bjornholt sold 7,356 shares of the firm’s stock in a transaction dated Monday, August 25th. The shares were sold at an average price of $68.72, for a total transaction of $505,504.32. Following the completion of the sale, the chief financial officer directly owned 30,010 shares in the company, valued at approximately $2,062,287.20. This trade represents a 19.69% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Matthew W. Chapman sold 10,000 shares of the company’s stock in a transaction that occurred on Monday, August 25th. The stock was sold at an average price of $68.25, for a total transaction of $682,500.00. Following the completion of the transaction, the director owned 30,665 shares in the company, valued at approximately $2,092,886.25. This represents a 24.59% decrease in their position. The disclosure for this sale is available in the SEC filing. 1.94% of the stock is currently owned by insiders.

Institutional Trading of Microchip Technology

A number of institutional investors and hedge funds have recently modified their holdings of MCHP. Winnow Wealth LLC bought a new position in shares of Microchip Technology during the third quarter valued at $25,000. Root Financial Partners LLC bought a new position in Microchip Technology during the 3rd quarter valued at about $28,000. Salomon & Ludwin LLC boosted its holdings in shares of Microchip Technology by 219.3% during the 3rd quarter. Salomon & Ludwin LLC now owns 479 shares of the semiconductor company’s stock valued at $32,000 after acquiring an additional 329 shares during the last quarter. Quent Capital LLC bought a new stake in shares of Microchip Technology in the third quarter worth approximately $32,000. Finally, MCF Advisors LLC grew its stake in shares of Microchip Technology by 211.2% in the second quarter. MCF Advisors LLC now owns 473 shares of the semiconductor company’s stock worth $33,000 after acquiring an additional 321 shares during the period. Institutional investors own 91.51% of the company’s stock.

About Microchip Technology

Microchip Technology Incorporated engages in the development, manufacture, and sale of smart, connected, and secure embedded control solutions in the Americas, Europe, and Asia. The company offers general purpose 8-bit, 16-bit, and 32-bit mixed-signal microcontrollers; 32-bit embedded mixed-signal microprocessors; and specialized microcontrollers for automotive, industrial, computing, communications, lighting, power supplies, motor control, human machine interface, security, wired connectivity, and wireless connectivity applications.