Brokers Issue Forecasts for MCHP FY2028 Earnings

Microchip Technology Incorporated (NASDAQ:MCHP) – Research analysts at Zacks Research issued their FY2028 EPS estimates for shares of Microchip Technology in a research note issued on Thursday, May 29th. Zacks Research analyst R. Department expects that the semiconductor company will post earnings per share of $2.65 for the year. The consensus estimate for Microchip Technology’s current full-year earnings is $1.03 per share.

Several other analysts also recently issued reports on the stock. Evercore ISI lifted their price target on shares of Microchip Technology from $65.00 to $71.00 and gave the company an “outperform” rating in a research report on Tuesday, March 4th. Rosenblatt Securities lifted their price target on shares of Microchip Technology from $63.00 to $70.00 and gave the company a “buy” rating in a research report on Friday, May 30th. Wall Street Zen downgraded shares of Microchip Technology from a “hold” rating to a “sell” rating in a research report on Monday, February 10th. Piper Sandler reissued an “overweight” rating and issued a $65.00 price target (down previously from $85.00) on shares of Microchip Technology in a research report on Friday, February 7th. Finally, Bank of America raised shares of Microchip Technology from an “underperform” rating to a “neutral” rating and set a $56.00 price target for the company in a research report on Friday, May 9th. One research analyst has rated the stock with a sell rating, five have given a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Microchip Technology currently has a consensus rating of “Moderate Buy” and an average price target of $67.68.

Microchip Technology Stock Performance

NASDAQ MCHP opened at $63.84 on Monday. The company has a fifty day simple moving average of $48.97 and a 200 day simple moving average of $54.90. Microchip Technology has a 12-month low of $34.13 and a 12-month high of $96.98. The company has a current ratio of 2.25, a quick ratio of 1.23 and a debt-to-equity ratio of 1.12. The company has a market cap of $34.44 billion, a P/E ratio of 114.00 and a beta of 1.42.

Microchip Technology (NASDAQ:MCHP) last posted its quarterly earnings results on Thursday, May 8th. The semiconductor company reported $0.11 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.10 by $0.01. Microchip Technology had a net margin of 6.49% and a return on equity of 12.62%. The business had revenue of $970.50 million during the quarter, compared to the consensus estimate of $962.86 million. During the same quarter last year, the firm posted $0.57 EPS. Microchip Technology’s revenue was down 26.8% compared to the same quarter last year.

Microchip Technology Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, June 5th. Stockholders of record on Thursday, May 22nd will be paid a dividend of $0.455 per share. This represents a $1.82 dividend on an annualized basis and a dividend yield of 2.85%. The ex-dividend date is Thursday, May 22nd. Microchip Technology’s payout ratio is -18,200.00%.

Insider Transactions at Microchip Technology

In other news, CFO James Eric Bjornholt sold 2,015 shares of Microchip Technology stock in a transaction on Friday, May 23rd. The stock was sold at an average price of $55.78, for a total transaction of $112,396.70. Following the sale, the chief financial officer now directly owns 34,313 shares in the company, valued at $1,913,979.14. The trade was a 5.55% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Karlton D. Johnson sold 494 shares of Microchip Technology stock in a transaction on Tuesday, May 20th. The stock was sold at an average price of $60.69, for a total value of $29,980.86. Following the sale, the director now owns 3,468 shares in the company, valued at $210,472.92. The trade was a 12.47% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 2.10% of the company’s stock.

Institutional Investors Weigh In On Microchip Technology

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its stake in Microchip Technology by 0.6% in the 1st quarter. Vanguard Group Inc. now owns 69,302,614 shares of the semiconductor company’s stock valued at $3,354,940,000 after acquiring an additional 390,269 shares during the period. Invesco Ltd. raised its stake in Microchip Technology by 63.0% in the 1st quarter. Invesco Ltd. now owns 16,707,031 shares of the semiconductor company’s stock valued at $808,787,000 after acquiring an additional 6,459,123 shares during the period. T. Rowe Price Investment Management Inc. raised its stake in Microchip Technology by 0.9% in the 1st quarter. T. Rowe Price Investment Management Inc. now owns 16,630,574 shares of the semiconductor company’s stock valued at $805,087,000 after acquiring an additional 152,434 shares during the period. Van ECK Associates Corp raised its stake in Microchip Technology by 39.3% in the 4th quarter. Van ECK Associates Corp now owns 11,093,007 shares of the semiconductor company’s stock valued at $636,184,000 after acquiring an additional 3,131,807 shares during the period. Finally, Boston Partners raised its stake in Microchip Technology by 35.3% in the 1st quarter. Boston Partners now owns 10,726,413 shares of the semiconductor company’s stock valued at $517,082,000 after acquiring an additional 2,795,650 shares during the period. 91.51% of the stock is currently owned by institutional investors.

Microchip Technology Company Profile

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.