Microchip Technology (NASDAQ:MCHP) Earns “Hold” Rating from Truist Financial

Microchip Technology (NASDAQ:MCHP)‘s stock had its “hold” rating restated by equities researchers at Truist Financial in a report released on Friday,Benzinga reports. They currently have a $60.00 price objective on the semiconductor company’s stock, down from their previous price objective of $64.00. Truist Financial’s target price suggests a potential upside of 10.28% from the stock’s previous close.

Several other research analysts also recently commented on MCHP. Weiss Ratings reissued a “sell (d+)” rating on shares of Microchip Technology in a report on Wednesday, October 8th. Cantor Fitzgerald reduced their price objective on Microchip Technology from $70.00 to $65.00 and set a “neutral” rating on the stock in a research report on Friday. Needham & Company LLC dropped their target price on shares of Microchip Technology from $77.00 to $73.00 and set a “buy” rating on the stock in a research report on Friday. Wells Fargo & Company began coverage on shares of Microchip Technology in a research report on Monday, September 15th. They set an “equal weight” rating and a $60.00 target price on the stock. Finally, Susquehanna reduced their target price on Microchip Technology from $85.00 to $75.00 and set a “positive” rating for the company in a report on Friday. One research analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating, seven have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $74.11.

Microchip Technology Stock Down 8.3%

NASDAQ:MCHP traded down $4.94 during midday trading on Friday, hitting $54.41. 9,764,959 shares of the company were exchanged, compared to its average volume of 9,657,281. Microchip Technology has a fifty-two week low of $34.13 and a fifty-two week high of $77.20. The company has a market capitalization of $29.36 billion, a PE ratio of -159.90, a price-to-earnings-growth ratio of 1.79 and a beta of 1.57. The company has a fifty day simple moving average of $64.42 and a 200 day simple moving average of $63.97. The company has a current ratio of 2.31, a quick ratio of 1.33 and a debt-to-equity ratio of 0.80.

Microchip Technology (NASDAQ:MCHP) last posted its earnings results on Thursday, November 6th. The semiconductor company reported $0.35 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.33 by $0.02. Microchip Technology had a positive return on equity of 6.24% and a negative net margin of 3.50%.The firm had revenue of $1.14 billion for the quarter, compared to analyst estimates of $1.13 billion. During the same quarter in the prior year, the company earned $0.46 EPS. Microchip Technology’s revenue was down 2.0% on a year-over-year basis. Microchip Technology has set its Q3 2026 guidance at 0.340-0.400 EPS. As a group, equities analysts anticipate that Microchip Technology will post 1.03 earnings per share for the current fiscal year.

Insider Activity at Microchip Technology

In other news, Director Matthew W. Chapman sold 10,000 shares of Microchip Technology stock in a transaction on Monday, August 25th. The shares were sold at an average price of $68.25, for a total transaction of $682,500.00. Following the completion of the sale, the director directly owned 30,665 shares in the company, valued at approximately $2,092,886.25. The trade was a 24.59% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO James Eric Bjornholt sold 7,356 shares of the company’s stock in a transaction on Monday, August 25th. The stock was sold at an average price of $68.72, for a total transaction of $505,504.32. Following the transaction, the chief financial officer owned 30,010 shares of the company’s stock, valued at $2,062,287.20. This represents a 19.69% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 1.94% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Microchip Technology

Hedge funds and other institutional investors have recently modified their holdings of the stock. Winnow Wealth LLC bought a new position in shares of Microchip Technology during the third quarter worth $25,000. Root Financial Partners LLC acquired a new stake in shares of Microchip Technology during the 3rd quarter valued at $28,000. Salomon & Ludwin LLC increased its position in Microchip Technology by 219.3% during the 3rd quarter. Salomon & Ludwin LLC now owns 479 shares of the semiconductor company’s stock valued at $32,000 after purchasing an additional 329 shares during the period. Quent Capital LLC acquired a new position in shares of Microchip Technology during the 3rd quarter valued at $32,000. Finally, MCF Advisors LLC lifted its stake in shares of Microchip Technology by 211.2% in the second quarter. MCF Advisors LLC now owns 473 shares of the semiconductor company’s stock valued at $33,000 after buying an additional 321 shares in the last quarter. 91.51% of the stock is currently owned by institutional investors and hedge funds.

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.