Q3 EPS Estimates for Microchip Technology Boosted by KeyCorp

Microchip Technology Incorporated (NASDAQ:MCHP) – Analysts at KeyCorp boosted their Q3 2027 EPS estimates for Microchip Technology in a report released on Wednesday, October 14th. KeyCorp analyst J. Vinh now forecasts that the semiconductor company will post earnings of $0.94 per share for the quarter, up from their previous estimate of $0.81. The consensus estimate for Microchip Technology’s current full-year earnings is $3.20 per share. KeyCorp also issued estimates for Microchip Technology’s FY2027 earnings at $3.41 EPS, Q2 2028 earnings at $1.16 EPS, Q3 2028 earnings at $1.14 EPS, Q4 2028 earnings at $1.21 EPS and FY2028 earnings at $4.54 EPS.

Microchip Technology (NASDAQ:MCHP) last posted its quarterly earnings data on Thursday, August 6th. The semiconductor company reported $0.76 EPS for the quarter, beating the consensus estimate of $0.70 by $0.06. Microchip Technology had a net margin of 9.34% and a return on equity of 14.97%. The firm had revenue of $1.48 billion during the quarter, compared to analyst estimates of $1.46 billion. During the same quarter last year, the business posted $0.27 EPS. The company’s revenue for the quarter was up 38.0% on a year-over-year basis. Microchip Technology has set its Q2 2027 guidance at 0.910-0.950 EPS.

A number of other analysts also recently commented on the company. Weiss Ratings raised Microchip Technology from a “hold (c-)” rating to a “hold (c)” rating in a research report on Tuesday, August 11th. TD Cowen cut their price objective on Microchip Technology from $105.00 to $90.00 and set a “hold” rating on the stock in a research report on Monday, July 13th. Wells Fargo & Company reduced their price objective on Microchip Technology from $95.00 to $88.00 and set an “equal weight” rating for the company in a research note on Monday, July 20th. Rosenblatt Securities restated a “buy” rating and issued a $120.00 price objective on shares of Microchip Technology in a research note on Friday, August 7th. Finally, BMO Capital Markets began coverage on Microchip Technology in a research report on Friday, August 21st. They set an “outperform” rating and a $95.00 target price for the company. Three equities research analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and eight have given a Hold rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $98.67.

Microchip Technology Stock Performance

MCHP stock opened at $74.41 on Monday. The firm has a market cap of $40.40 billion, a PE ratio of 45.03, a P/E/G ratio of 0.51 and a beta of 1.77. The company has a quick ratio of 1.11, a current ratio of 1.92 and a debt-to-equity ratio of 0.83. The business has a 50 day moving average of $75.41 and a 200-day moving average of $82.66. Microchip Technology has a 12-month low of $48.52 and a 12-month high of $105.91.

Hedge Funds Weigh In On Microchip Technology

Several institutional investors and hedge funds have recently bought and sold shares of MCHP. CFS Investment Advisory Services LLC grew its stake in Microchip Technology by 10.9% in the 3rd quarter. CFS Investment Advisory Services LLC now owns 3,343 shares of the semiconductor company’s stock worth $272,000 after buying an additional 328 shares in the last quarter. Jackson Square Capital LLC bought a new position in shares of Microchip Technology in the 3rd quarter worth $995,000. IFP Advisors Inc increased its holdings in shares of Microchip Technology by 102.7% in the 3rd quarter. IFP Advisors Inc now owns 3,568 shares of the semiconductor company’s stock worth $277,000 after buying an additional 1,808 shares during the last quarter. TD Waterhouse Canada Inc. increased its holdings in shares of Microchip Technology by 5.8% in the 3rd quarter. TD Waterhouse Canada Inc. now owns 12,817 shares of the semiconductor company’s stock worth $1,005,000 after buying an additional 706 shares during the last quarter. Finally, Pension & Wealth Management Advisors Inc. raised its position in shares of Microchip Technology by 88.5% during the 3rd quarter. Pension & Wealth Management Advisors Inc. now owns 1,278 shares of the semiconductor company’s stock valued at $99,000 after buying an additional 600 shares in the last quarter. 91.51% of the stock is owned by institutional investors.

Insider Activity

In other news, CFO James Bjornholt sold 4,112 shares of the firm’s stock in a transaction that occurred on Tuesday, August 25th. The shares were sold at an average price of $75.32, for a total transaction of $309,715.84. Following the completion of the sale, the chief financial officer owned 28,573 shares in the company, valued at $2,152,118.36. This trade represents a 12.58% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 1.79% of the stock is currently owned by insiders.

Microchip Technology Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, September 9th. Stockholders of record on Monday, August 24th were given a dividend of $0.4550 per share. This represents a $1.82 dividend on an annualized basis and a dividend yield of 2.4%. The ex-dividend date of this dividend was Monday, August 24th. Microchip Technology’s dividend payout ratio is currently 271.64%.

Microchip Technology Company Profile

Microchip Technology Incorporated (NASDAQ:MCHP) develops and manufactures semiconductor products used in embedded control and connected electronic systems. Its portfolio includes microcontrollers, microprocessors, analog and power-management devices, memory products, timing and connectivity components, security solutions, and field-programmable gate arrays. The company also provides development tools, software, evaluation kits, and technical support to help customers design and produce electronic equipment.

Microchip’s products are used across a range of markets, including automotive, industrial, aerospace and defense, communications, consumer electronics, data centers, and medical applications.