KeyCorp Issues Pessimistic Forecast for Microchip Technology (NASDAQ:MCHP) Stock Price

Microchip Technology (NASDAQ:MCHP) had its price objective lowered by analysts at KeyCorp from $135.00 to $120.00 in a report issued on Friday, Benzinga reports. The brokerage presently has an “overweight” rating on the semiconductor company’s stock. KeyCorp‘s price target would suggest a potential upside of 105.66% from the stock’s current price.

A number of other equities research analysts have also recently issued reports on the stock. Susquehanna decreased their price objective on shares of Microchip Technology from $120.00 to $100.00 and set a “positive” rating for the company in a report on Friday. Zacks Research lowered Microchip Technology from a “strong-buy” rating to a “hold” rating in a report on Monday, August 17th. Needham & Company LLC cut their target price on Microchip Technology from $120.00 to $85.00 and set a “buy” rating on the stock in a report on Friday. Rosenblatt Securities reduced their price target on Microchip Technology from $120.00 to $115.00 and set a “buy” rating for the company in a research report on Friday. Finally, Citigroup decreased their price target on Microchip Technology from $113.00 to $95.00 and set a “buy” rating for the company in a research note on Friday, August 7th. Three equities research analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and seven have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, Microchip Technology presently has a consensus rating of “Moderate Buy” and a consensus price target of $91.64.

Microchip Technology Stock Performance

Shares of MCHP stock opened at $58.35 on Friday. The company has a market capitalization of $31.68 billion, a price-to-earnings ratio of 44.20, a P/E/G ratio of 0.40 and a beta of 1.84. Microchip Technology has a 1-year low of $48.52 and a 1-year high of $105.91. The company has a current ratio of 1.92, a quick ratio of 1.11 and a debt-to-equity ratio of 0.83. The stock’s fifty day simple moving average is $74.85 and its 200-day simple moving average is $79.41.

Microchip Technology (NASDAQ:MCHP) last released its earnings results on Thursday, November 5th. The semiconductor company reported $0.97 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.94 by $0.03. Microchip Technology had a net margin of 14.96% and a return on equity of 20.45%. The company had revenue of $1.62 billion during the quarter, compared to the consensus estimate of $1.61 billion. During the same quarter in the prior year, the firm earned $0.35 EPS. The company’s revenue was up 42.2% compared to the same quarter last year. On average, sell-side analysts predict that Microchip Technology will post 3.20 earnings per share for the current fiscal year.

Insider Activity at Microchip Technology

In other news, CFO James Bjornholt sold 4,112 shares of the business’s stock in a transaction that occurred on Tuesday, August 25th. The stock was sold at an average price of $75.32, for a total transaction of $309,715.84. Following the sale, the chief financial officer directly owned 28,573 shares in the company, valued at approximately $2,152,118.36. The trade was a 12.58% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 1.79% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in MCHP. State Street Corp boosted its position in Microchip Technology by 2.9% in the second quarter. State Street Corp now owns 28,851,673 shares of the semiconductor company’s stock valued at $2,631,273,000 after buying an additional 821,147 shares in the last quarter. Van ECK Associates Corp grew its stake in Microchip Technology by 18.3% during the second quarter. Van ECK Associates Corp now owns 8,224,808 shares of the semiconductor company’s stock worth $750,102,000 after buying an additional 1,272,838 shares during the last quarter. Barrow Hanley Mewhinney & Strauss LLC acquired a new stake in shares of Microchip Technology during the second quarter worth approximately $537,423,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in shares of Microchip Technology by 23.5% during the second quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 5,060,528 shares of the semiconductor company’s stock worth $461,520,000 after buying an additional 962,362 shares in the last quarter. Finally, Pictet Asset Management Holding SA raised its stake in shares of Microchip Technology by 30.7% in the third quarter. Pictet Asset Management Holding SA now owns 4,881,363 shares of the semiconductor company’s stock valued at $379,661,000 after acquiring an additional 1,145,500 shares during the last quarter. 91.51% of the stock is owned by institutional investors.

Microchip Technology News Summary

Here are the key news stories impacting Microchip Technology this week:

• Positive Sentiment: Fiscal Q2 EPS was $0.97 versus the $0.94 consensus, while revenue of $1.62 billion topped estimates and rose 42.2% year over year. Reports cited recovering industrial and data-center demand and improving margins as growth drivers. Zacks earnings report
• Positive Sentiment: Microchip declared a quarterly dividend of $0.455 per share, equivalent to $1.82 annually and a reported yield of about 3.2%. The dividend may appeal to income-focused investors.
• Neutral Sentiment: Several analysts still rate MCHP Buy or Overweight, and their revised targets remain above the cited $58.35 share price. However, the target reductions signal more cautious expectations.
• Negative Sentiment: Management’s fiscal Q3 outlook is a key concern: revenue is forecast to range from 3% below to 1% above Q2, with non-GAAP EPS of $0.87–$0.95. The midpoint was reported below consensus; supply constraints and rising costs could limit near-term growth. Benzinga analyst coverage
• Negative Sentiment: Analysts cut targets after the results, including Truist to $62 from $90 and Evercore ISI to $75 from $117. Citigroup lowered its target to $75 from $95 but kept a Buy rating; the broader reset in expectations may pressure shares despite generally higher remaining targets. Truist analyst recommendations Evercore ISI target update

Microchip Technology Company Profile