Microchip Technology (NASDAQ:MCHP) Price Target Raised to $68.00

Microchip Technology (NASDAQ:MCHP) had its target price hoisted by Morgan Stanley from $63.00 to $68.00 in a research note issued to investors on Tuesday,Benzinga reports. Morgan Stanley currently has an equal weight rating on the semiconductor company’s stock.

Other equities research analysts have also recently issued reports about the stock. Stifel Nicolaus increased their target price on shares of Microchip Technology from $70.00 to $82.00 and gave the company a “buy” rating in a research report on Friday, July 18th. KeyCorp increased their price objective on shares of Microchip Technology from $70.00 to $85.00 and gave the company an “overweight” rating in a report on Tuesday, July 8th. The Goldman Sachs Group began coverage on Microchip Technology in a report on Thursday, July 10th. They set a “buy” rating and a $88.00 target price on the stock. Zacks Research cut Microchip Technology from a “strong-buy” rating to a “hold” rating in a report on Monday, August 18th. Finally, Weiss Ratings reissued a “sell (d+)” rating on shares of Microchip Technology in a research note on Wednesday, October 8th. One research analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating, seven have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, Microchip Technology has an average rating of “Moderate Buy” and a consensus target price of $75.95.

Microchip Technology Stock Performance

Shares of NASDAQ MCHP opened at $59.35 on Tuesday. The company has a market capitalization of $32.03 billion, a PE ratio of -174.56, a price-to-earnings-growth ratio of 1.79 and a beta of 1.57. The company has a debt-to-equity ratio of 0.80, a quick ratio of 1.33 and a current ratio of 2.31. The company’s fifty day moving average price is $64.42 and its 200 day moving average price is $63.97. Microchip Technology has a 1 year low of $34.13 and a 1 year high of $77.20.

Microchip Technology (NASDAQ:MCHP) last posted its quarterly earnings data on Thursday, November 6th. The semiconductor company reported $0.35 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 business had revenue of $1.14 billion during the quarter, compared to analysts’ expectations of $1.13 billion. During the same period in the previous year, the business earned $0.46 earnings per share. The business’s revenue was down 2.0% compared to the same quarter last year. Microchip Technology has set its Q3 2026 guidance at 0.340-0.400 EPS. On average, research analysts predict that Microchip Technology will post 1.03 earnings per share for the current year.

Microchip Technology Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 9th. Investors of record on Monday, November 24th will be given a dividend of $0.455 per share. This represents a $1.82 dividend on an annualized basis and a dividend yield of 3.1%. The ex-dividend date of this dividend is Monday, November 24th. Microchip Technology’s dividend payout ratio (DPR) is presently -535.29%.

Insider Activity

In other news, Director Matthew W. Chapman sold 10,000 shares of the business’s stock in a transaction that occurred on Monday, August 25th. The shares were 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 approximately $2,092,886.25. The trade was a 24.59% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO James Eric Bjornholt sold 7,356 shares of the stock in a transaction that occurred 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 directly owned 30,010 shares of the company’s stock, valued at $2,062,287.20. The trade was a 19.69% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 1.94% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the company. Public Sector Pension Investment Board boosted its position in shares of Microchip Technology by 11.6% during the third quarter. Public Sector Pension Investment Board now owns 56,847 shares of the semiconductor company’s stock worth $3,651,000 after buying an additional 5,918 shares during the period. Cibc World Market Inc. lifted its stake in Microchip Technology by 223.4% during the 3rd quarter. Cibc World Market Inc. now owns 140,902 shares of the semiconductor company’s stock worth $9,049,000 after acquiring an additional 97,333 shares in the last quarter. ING Groep NV boosted its holdings in Microchip Technology by 51.3% during the 3rd quarter. ING Groep NV now owns 377,550 shares of the semiconductor company’s stock valued at $24,246,000 after acquiring an additional 128,053 shares during the period. Krilogy Financial LLC acquired a new position in Microchip Technology in the 3rd quarter valued at about $434,000. Finally, Advisors Asset Management Inc. grew its position in Microchip Technology by 16.2% in the 3rd quarter. Advisors Asset Management Inc. now owns 153,654 shares of the semiconductor company’s stock valued at $9,868,000 after acquiring an additional 21,475 shares in the last quarter. 91.51% of the stock is currently owned by institutional investors and hedge funds.

About Microchip Technology

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.