Microchip Technology Incorporated (NASDAQ:MCHP) Stock Has Consensus Price Target of $98.67

Shares of Microchip Technology Incorporated (NASDAQ:MCHP) have received an average rating of “Moderate Buy” from the twenty-four analysts that are presently covering the firm, MarketBeat Ratings reports. Eight research analysts have rated the stock with a hold recommendation, thirteen have given a buy recommendation and three have given a strong buy recommendation to the company. The average 1 year price objective among brokerages that have issued a report on the stock in the last year is $98.67.

A number of research firms have commented on MCHP. UBS Group reaffirmed a “buy” rating and issued a $120.00 target price (down from $130.00) on shares of Microchip Technology in a research report on Friday, August 7th. Wells Fargo & Company decreased their price target on Microchip Technology from $95.00 to $88.00 and set an “equal weight” rating on the stock in a research note on Monday, July 20th. TD Cowen lowered their price target on Microchip Technology from $105.00 to $90.00 and set a “hold” rating for the company in a research report on Monday, July 13th. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Microchip Technology in a research note on Wednesday, September 9th. Finally, Rosenblatt Securities reaffirmed a “buy” rating and issued a $120.00 price objective on shares of Microchip Technology in a research note on Friday, August 7th.

Insider Transactions at Microchip Technology

In related news, CFO James Bjornholt sold 4,112 shares of the company’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 sale, the chief financial officer directly owned 28,573 shares in the company, valued at approximately $2,152,118.36. This represents a 12.58% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 1.79% of the company’s stock.

Institutional Investors Weigh In On Microchip Technology

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Resonant Capital Advisors LLC raised its stake in shares of Microchip Technology by 0.9% during the 1st quarter. Resonant Capital Advisors LLC now owns 12,542 shares of the semiconductor company’s stock worth $810,000 after buying an additional 118 shares in the last quarter. Apella Capital LLC lifted its stake in shares of Microchip Technology by 4.8% in the second quarter. Apella Capital LLC now owns 2,669 shares of the semiconductor company’s stock valued at $225,000 after purchasing an additional 122 shares during the period. Bridgewater Advisors Inc. boosted its holdings in Microchip Technology by 4.2% during the second quarter. Bridgewater Advisors Inc. now owns 3,331 shares of the semiconductor company’s stock worth $304,000 after buying an additional 133 shares in the last quarter. MCF Advisors LLC boosted its holdings in Microchip Technology by 25.8% during the fourth quarter. MCF Advisors LLC now owns 659 shares of the semiconductor company’s stock worth $42,000 after buying an additional 135 shares in the last quarter. Finally, Gagnon Securities LLC boosted its holdings in Microchip Technology by 0.5% during the fourth quarter. Gagnon Securities LLC now owns 27,162 shares of the semiconductor company’s stock worth $1,731,000 after buying an additional 137 shares in the last quarter. Hedge funds and other institutional investors own 91.51% of the company’s stock.

Microchip Technology Stock Performance

MCHP opened at $75.55 on Tuesday. 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 company has a market cap of $41.02 billion, a price-to-earnings ratio of 112.76, a PEG ratio of 0.53 and a beta of 1.77. Microchip Technology has a 52-week low of $48.52 and a 52-week high of $105.91. The firm’s fifty day simple moving average is $76.05 and its two-hundred day simple moving average is $82.11.

Microchip Technology (NASDAQ:MCHP) last issued its quarterly earnings results on Thursday, August 6th. The semiconductor company reported $0.76 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.70 by $0.06. Microchip Technology had a return on equity of 14.97% and a net margin of 9.34%. The firm had revenue of $1.48 billion for the quarter, compared to analyst estimates of $1.46 billion. During the same period in the previous year, the company posted $0.27 earnings per share. The business’s revenue was up 38.0% on a year-over-year basis. Microchip Technology has set its Q2 2027 guidance at 0.910-0.950 EPS. Equities analysts anticipate that Microchip Technology will post 3.16 earnings per share for the current fiscal year.

Microchip Technology Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, September 9th. Shareholders of record on Monday, August 24th were paid a $0.4550 dividend. The ex-dividend date was Monday, August 24th. This represents a $1.82 annualized dividend and a dividend yield of 2.4%. Microchip Technology’s payout ratio is 271.64%.

Microchip Technology Company Profile

Microchip Technology Inc is a semiconductor company that develops and manufactures embedded control solutions for automotive, industrial, aerospace and defense, communications, consumer, and computing applications. Its products are designed to help customers manage processing, connectivity, power, timing, security, and data storage within electronic systems.

The company’s product portfolio includes microcontrollers, microprocessors, analog and mixed-signal devices, power-management products, timing and synchronization solutions, memory products, connectivity components, and field-programmable gate arrays.