Microchip Technology (NASDAQ:MCHP) Given New $115.00 Price Target at Rosenblatt Securities

Microchip Technology (NASDAQ:MCHP) had its price objective decreased by Rosenblatt Securities from $120.00 to $115.00 in a research report sent to investors on Friday morning,Benzinga reports. Rosenblatt Securities currently has a buy rating on the semiconductor company’s stock.

Several other equities analysts also recently weighed in on the company. Weiss Ratings upgraded Microchip Technology from a “hold (c-)” rating to a “hold (c)” rating in a report on Tuesday, August 11th. Truist Financial dropped their price target on shares of Microchip Technology from $105.00 to $90.00 and set a “hold” rating on the stock in a research note on Friday, August 7th. Cantor Fitzgerald cut their price objective on shares of Microchip Technology from $125.00 to $100.00 and set an “overweight” rating on the stock in a research report on Friday. UBS Group restated a “buy” rating and set a $120.00 price objective (down from $130.00) on shares of Microchip Technology in a research note on Friday, August 7th. Finally, B. Riley Financial decreased their target price on shares of Microchip Technology from $108.00 to $98.00 and set a “buy” rating for the company in a report on Thursday, October 22nd. Three investment analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating and seven have given a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $91.64.

Microchip Technology Stock Down 10.0%

Shares of MCHP traded down $6.50 during mid-day trading on Friday, reaching $58.35. The company had a trading volume of 47,392,436 shares, compared to its average volume of 10,941,434. The company has a debt-to-equity ratio of 0.83, a quick ratio of 1.11 and a current ratio of 1.92. The company has a market capitalization of $31.68 billion, a price-to-earnings ratio of 44.20, a price-to-earnings-growth ratio of 0.52 and a beta of 1.84. The firm has a 50-day moving average price of $74.85 and a 200 day moving average price of $79.41. Microchip Technology has a 52 week low of $48.52 and a 52 week high of $105.91.

Microchip Technology (NASDAQ:MCHP) last announced its quarterly earnings data on Thursday, November 5th. The semiconductor company reported $0.97 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.94 by $0.03. Microchip Technology had a return on equity of 14.97% and a net margin of 9.34%. The business had revenue of $1.62 billion during the quarter, compared to analysts’ expectations of $1.61 billion. During the same quarter in the previous year, the business earned $0.35 earnings per share. The firm’s quarterly revenue was up 42.2% compared to the same quarter last year. On average, sell-side analysts forecast that Microchip Technology will post 3.20 EPS for the current year.

Microchip Technology Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 8th. Shareholders of record on Monday, November 23rd will be paid a dividend of $0.4550 per share. The ex-dividend date is Monday, November 23rd. This represents a $1.82 annualized dividend and a yield of 3.1%. Microchip Technology’s dividend payout ratio is currently 271.64%.

Insider Activity

In other news, CFO James Bjornholt sold 4,112 shares of the firm’s stock in a transaction dated 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 owned 28,573 shares of the company’s stock, valued at $2,152,118.36. This trade represents a 12.58% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 1.79% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

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

Key Microchip Technology News

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