Analysts Set Microchip Technology Incorporated (NASDAQ:MCHP) PT at $74.95

Shares of Microchip Technology Incorporated (NASDAQ:MCHP) have been given an average recommendation of “Moderate Buy” by the twenty-one brokerages that are covering the firm, MarketBeat.com reports. One research analyst has rated the stock with a sell recommendation, seven have issued a hold recommendation, twelve have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12-month target price among brokerages that have updated their coverage on the stock in the last year is $74.9474.

Several research analysts recently weighed in on the stock. Needham & Company LLC upped their target price on shares of Microchip Technology from $73.00 to $75.00 and gave the stock a “buy” rating in a report on Thursday, December 4th. Zacks Research downgraded Microchip Technology from a “strong-buy” rating to a “hold” rating in a research report on Monday, August 18th. Cantor Fitzgerald cut their target price on Microchip Technology from $70.00 to $65.00 and set a “neutral” rating for the company in a research report on Friday, November 7th. Susquehanna decreased their target price on Microchip Technology from $85.00 to $75.00 and set a “positive” rating on the stock in a research note on Friday, November 7th. Finally, Stifel Nicolaus lowered their price target on Microchip Technology from $82.00 to $75.00 and set a “buy” rating on the stock in a report on Friday, November 7th.

Microchip Technology Trading Down 2.8%

Shares of NASDAQ:MCHP opened at $67.18 on Wednesday. The stock has a 50 day moving average of $60.42 and a 200 day moving average of $64.90. The company has a market cap of $36.31 billion, a PE ratio of -149.29, a price-to-earnings-growth ratio of 2.18 and a beta of 1.47. Microchip Technology has a 12-month low of $34.13 and a 12-month high of $77.20. The company has a current ratio of 2.25, a quick ratio of 1.20 and a debt-to-equity ratio of 0.80.

Microchip Technology (NASDAQ:MCHP) last posted its quarterly earnings results on Thursday, November 6th. The semiconductor company reported $0.35 earnings per share for the quarter, topping analysts’ consensus estimates of $0.33 by $0.02. The business had revenue of $1.14 billion during the quarter, compared to analyst estimates of $1.13 billion. Microchip Technology had a negative net margin of 4.39% and a positive return on equity of 5.21%. The company’s revenue was down 2.0% on a year-over-year basis. During the same period in the prior year, the business posted $0.46 earnings per share. Microchip Technology has set its Q3 2026 guidance at 0.340-0.400 EPS. As a group, equities research analysts expect that Microchip Technology will post 1.03 EPS for the current year.

Microchip Technology Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, December 9th. Stockholders of record on Monday, November 24th were issued a $0.455 dividend. This represents a $1.82 annualized dividend and a dividend yield of 2.7%. The ex-dividend date of this dividend was Monday, November 24th. Microchip Technology’s payout ratio is -404.44%.

Insiders Place Their Bets

In related news, CFO James Eric Bjornholt sold 4,292 shares of the firm’s stock in a transaction on Tuesday, November 25th. The shares were sold at an average price of $50.39, for a total transaction of $216,273.88. Following the completion of the transaction, the chief financial officer directly owned 30,089 shares of the company’s stock, valued at approximately $1,516,184.71. This trade represents a 12.48% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 1.94% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. Winnow Wealth LLC bought a new position in Microchip Technology during the third quarter valued at approximately $25,000. Root Financial Partners LLC bought a new position in shares of Microchip Technology during the 3rd quarter valued at approximately $28,000. Salomon & Ludwin LLC grew its holdings in shares of Microchip Technology by 219.3% in the third quarter. Salomon & Ludwin LLC now owns 479 shares of the semiconductor company’s stock valued at $32,000 after purchasing an additional 329 shares in the last quarter. Quent Capital LLC bought a new stake in Microchip Technology in the third quarter worth $32,000. Finally, MCF Advisors LLC raised its stake in Microchip Technology by 211.2% during the second quarter. MCF Advisors LLC now owns 473 shares of the semiconductor company’s stock valued at $33,000 after purchasing an additional 321 shares in the last quarter. Hedge funds and other 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.