Several analysts have recently updated their ratings and price targets for Microchip Technology (NASDAQ: MCHP):

  • 9/25/2018 – Microchip Technology is now covered by analysts at KeyCorp. They set a “sector weight” rating on the stock.
  • 9/25/2018 – Microchip Technology was downgraded by analysts at Raymond James from an “outperform” rating to a “market perform” rating. They now have a $105.00 price target on the stock.
  • 9/20/2018 – Microchip Technology was downgraded by analysts at BidaskClub from a “hold” rating to a “sell” rating.
  • 9/19/2018 – Microchip Technology had its “buy” rating reaffirmed by analysts at Cfra. They now have a $110.00 price target on the stock. They wrote, “Sales are likely to increase 48% in FY 19 (Mar.) and 11% in FY 20, reflecting the acquisition of 14% increase in FY 18. MCHP is gaining share within most microcontroller categories, driven by new product momentum. Orders are likely to trend upwards over time, but there is limited visibility given demand uncertainty in China.””
  • 9/18/2018 – Microchip Technology was downgraded by analysts at ValuEngine from a “sell” rating to a “strong sell” rating.
  • 9/17/2018 – Microchip Technology was downgraded by analysts at Bank of America Corp from a “buy” rating to a “neutral” rating. They now have a $95.00 price target on the stock, down previously from $115.00.
  • 8/16/2018 – Microchip Technology was downgraded by analysts at BidaskClub from a “buy” rating to a “hold” rating.
  • 8/14/2018 – Microchip Technology was downgraded by analysts at ValuEngine from a “hold” rating to a “sell” rating.
  • 8/13/2018 – Microchip Technology had its price target lowered by analysts at Needham & Company LLC from $130.00 to $120.00. They now have a “strong-buy” rating on the stock.
  • 8/12/2018 – Microchip Technology had its “buy” rating reaffirmed by analysts at Rosenblatt Securities. They now have a $125.00 price target on the stock. They wrote, “We rate MCHP as a Buy with a $125 price target and would be opportunistic on potential near-term price pressure.””
  • 8/10/2018 – Microchip Technology had its price target lowered by analysts at JPMorgan Chase & Co. from $125.00 to $113.00. They now have an “overweight” rating on the stock.
  • 8/10/2018 – Microchip Technology had its price target lowered by analysts at KeyCorp from $116.00 to $111.00. They now have an “overweight” rating on the stock.
  • 8/10/2018 – Microchip Technology had its price target lowered by analysts at Nomura from $110.00 to $105.00. They now have a “buy” rating on the stock.
  • 8/10/2018 – Microchip Technology was upgraded by analysts at BidaskClub from a “hold” rating to a “buy” rating.
  • 8/9/2018 – Microchip Technology was downgraded by analysts at TheStreet from an “a-” rating to a “c+” rating.
  • 8/1/2018 – Microchip Technology was downgraded by analysts at Zacks Investment Research from a “strong-buy” rating to a “hold” rating. According to Zacks, “Microchip develops and manufacturers microcontrollers, memory and analog and interface products for embedded control systems. Microchip is benefiting from robust demand for 8-bit, 16-bit and 32-bit microcontrollers. We believe that Microchip's expanding product portfolio driven by new launches will continue to expand customer base. Additionally, the company expanded collaboration with Amazon Web services to support AWS offerings as well as develop secure cloud system. Shares have outperformed the industry in the past year. Moreover, the company has a positive record of earnings surprises in recent quarters. However, increasing lead time and significant exposure to Asian markets remain major headwinds. A stretched valuation is also a concern.”

Shares of Microchip Technology stock traded up $0.34 during trading on Thursday, hitting $79.13. 37,875 shares of the stock were exchanged, compared to its average volume of 3,013,204. The stock has a market cap of $18.55 billion, a P/E ratio of 15.25, a price-to-earnings-growth ratio of 0.82 and a beta of 1.09. Microchip Technology Inc. has a 12-month low of $78.33 and a 12-month high of $104.20. The company has a current ratio of 1.32, a quick ratio of 0.80 and a debt-to-equity ratio of 1.96.

Microchip Technology (NASDAQ:MCHP) last released its quarterly earnings data on Thursday, August 9th. The semiconductor company reported $1.61 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.48 by $0.13. The business had revenue of $1.21 billion during the quarter, compared to analysts’ expectations of $1.21 billion. Microchip Technology had a net margin of 2.85% and a return on equity of 36.33%. The company’s revenue for the quarter was up 24.7% on a year-over-year basis. During the same period in the previous year, the company earned $1.31 EPS. sell-side analysts forecast that Microchip Technology Inc. will post 6.51 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 4th. Stockholders of record on Tuesday, August 21st were given a dividend of $0.364 per share. This is a boost from Microchip Technology’s previous quarterly dividend of $0.36. This represents a $1.46 annualized dividend and a dividend yield of 1.84%. The ex-dividend date of this dividend was Monday, August 20th. Microchip Technology’s payout ratio is 28.13%.

In other news, CFO James Eric Bjornholt sold 1,887 shares of Microchip Technology stock in a transaction on Wednesday, August 22nd. The shares were sold at an average price of $84.33, for a total transaction of $159,130.71. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, COO Ganesh Moorthy purchased 12,000 shares of Microchip Technology stock in a transaction that occurred on Tuesday, August 14th. The stock was bought at an average cost of $84.10 per share, with a total value of $1,009,200.00. The disclosure for this purchase can be found here. 2.13% of the stock is currently owned by insiders.

Institutional investors and hedge funds have recently made changes to their positions in the stock. Psagot Investment House Ltd. purchased a new stake in Microchip Technology in the second quarter valued at $125,000. Canada Pension Plan Investment Board lifted its position in Microchip Technology by 14,030.0% in the second quarter. Canada Pension Plan Investment Board now owns 1,413 shares of the semiconductor company’s stock valued at $129,000 after acquiring an additional 1,403 shares during the last quarter. Summit Trail Advisors LLC lifted its position in Microchip Technology by 9,097.1% in the first quarter. Summit Trail Advisors LLC now owns 138,325 shares of the semiconductor company’s stock valued at $138,000 after acquiring an additional 136,821 shares during the last quarter. Prospera Financial Services Inc purchased a new stake in Microchip Technology in the second quarter valued at $200,000. Finally, Homrich & Berg purchased a new stake in Microchip Technology in the second quarter valued at $202,000.

Microchip Technology Incorporated develops, manufactures, and sells semiconductor products for various embedded control applications. The company offers general purpose and specialized 8-bit, 16-bit, and 32-bit microcontrollers; 32-bit microprocessors; and microcontrollers for automotive networking, computing, lighting, power supplies, motor control, human machine interface, security, wired connectivity, and wireless connectivity.

Recommended Story: Day Trading – Risk Worth the Reward?

Receive News & Ratings for Microchip Technology Inc Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Microchip Technology Inc and related companies with MarketBeat.com's FREE daily email newsletter.