Microchip Technology (NASDAQ:MCHP) Given New $60.00 Price Target at TD Cowen

Microchip Technology (NASDAQ:MCHP) had its price target trimmed by TD Cowen from $65.00 to $60.00 in a research note issued to investors on Friday, Marketbeat reports. They currently have a hold rating on the semiconductor company’s stock.

Other research analysts also recently issued reports about the stock. Raymond James Financial lifted their price target on shares of Microchip Technology from $65.00 to $75.00 and gave the stock a “strong-buy” rating in a research note on Friday, August 8th. Morgan Stanley lifted their target price on shares of Microchip Technology from $63.00 to $68.00 and gave the stock an “equal weight” rating in a research report on Tuesday. Stifel Nicolaus cut their price target on shares of Microchip Technology from $82.00 to $75.00 and set a “buy” rating for the company in a research report on Friday. Needham & Company LLC reduced their price objective on Microchip Technology from $77.00 to $73.00 and set a “buy” rating on the stock in a research note on Friday. Finally, The Goldman Sachs Group initiated coverage on Microchip Technology in a report on Thursday, July 10th. They issued a “buy” rating and a $88.00 price objective on the stock. One analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, seven have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $73.47.

Microchip Technology Price Performance

NASDAQ MCHP traded down $3.07 during trading hours on Friday, reaching $56.28. 19,091,235 shares of the stock traded hands, compared to its average volume of 9,702,577. The company has a debt-to-equity ratio of 0.80, a current ratio of 2.31 and a quick ratio of 1.33. The stock has a 50 day simple moving average of $64.24 and a two-hundred day simple moving average of $64.08. Microchip Technology has a 1 year low of $34.13 and a 1 year high of $77.20. The company has a market cap of $30.37 billion, a price-to-earnings ratio of -165.53, a price-to-earnings-growth ratio of 1.79 and a beta of 1.57.

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

Microchip Technology Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 9th. Shareholders of record on Monday, November 24th will be given a $0.455 dividend. The ex-dividend date is Monday, November 24th. This represents a $1.82 dividend on an annualized basis and a dividend yield of 3.2%. Microchip Technology’s payout ratio is presently -535.29%.

Insider Transactions at Microchip Technology

In related news, Director Matthew W. Chapman sold 10,000 shares of the firm’s stock in a transaction dated Monday, August 25th. The stock was sold at an average price of $68.25, for a total value of $682,500.00. Following the sale, the director directly owned 30,665 shares of the company’s stock, valued at $2,092,886.25. This trade represents a 24.59% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO James Eric Bjornholt sold 7,356 shares of the business’s stock in a transaction dated Monday, August 25th. The shares were sold at an average price of $68.72, for a total value of $505,504.32. Following the transaction, the chief financial officer owned 30,010 shares in the company, valued at approximately $2,062,287.20. This represents a 19.69% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 1.94% of the company’s stock.

Institutional Trading of Microchip Technology

A number of institutional investors and hedge funds have recently added to or reduced their stakes in MCHP. Orbis Allan Gray Ltd purchased a new position in Microchip Technology during the 1st quarter valued at $369,612,000. Norges Bank purchased a new stake in shares of Microchip Technology in the 2nd quarter worth about $473,320,000. Invesco Ltd. boosted its stake in shares of Microchip Technology by 63.0% during the 1st quarter. Invesco Ltd. now owns 16,707,031 shares of the semiconductor company’s stock valued at $808,787,000 after purchasing an additional 6,459,123 shares in the last quarter. Dodge & Cox increased its position in shares of Microchip Technology by 958.4% during the second quarter. Dodge & Cox now owns 6,339,800 shares of the semiconductor company’s stock valued at $446,132,000 after buying an additional 5,740,827 shares during the period. Finally, Goldman Sachs Group Inc. increased its position in shares of Microchip Technology by 138.9% during the first quarter. Goldman Sachs Group Inc. now owns 8,834,550 shares of the semiconductor company’s stock valued at $427,681,000 after buying an additional 5,136,154 shares during the period. Hedge funds and other institutional investors own 91.51% of the company’s stock.

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.