TD Cowen Lowers Microchip Technology (NASDAQ:MCHP) Price Target to $60.00

Microchip Technology (NASDAQ:MCHP) had its target price cut by TD Cowen from $65.00 to $60.00 in a research report issued to clients and investors on Friday, MarketBeat Ratings reports. The firm currently has a “hold” rating on the semiconductor company’s stock. TD Cowen’s price target would indicate a potential upside of 11.74% from the stock’s current price.

A number of other equities analysts have also recently weighed in on MCHP. Weiss Ratings reiterated a “sell (d+)” rating on shares of Microchip Technology in a report on Wednesday, October 8th. 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 target price for the company. Wells Fargo & Company initiated coverage on shares of Microchip Technology in a report on Monday, September 15th. They issued an “equal weight” rating and a $60.00 target price for the company. Raymond James Financial upped their target price on Microchip Technology from $65.00 to $75.00 and gave the company a “strong-buy” rating in a research note on Friday, August 8th. Finally, Morgan Stanley boosted their price target on Microchip Technology from $63.00 to $68.00 and gave the stock an “equal weight” rating in a report on Tuesday. One investment 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. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $74.32.

Microchip Technology Price Performance

NASDAQ MCHP traded down $5.65 on Friday, reaching $53.70. The company had a trading volume of 6,064,948 shares, compared to its average volume of 9,635,962. The company has a quick ratio of 1.33, a current ratio of 2.31 and a debt-to-equity ratio of 0.80. The stock has a market capitalization of $28.98 billion, a PE ratio of -157.95, a price-to-earnings-growth ratio of 1.79 and a beta of 1.57. Microchip Technology has a 12 month low of $34.13 and a 12 month high of $77.20. The firm’s 50 day moving average price is $64.42 and its 200 day moving average price is $63.97.

Microchip Technology (NASDAQ:MCHP) last released its quarterly earnings results on Thursday, November 6th. The semiconductor company reported $0.35 earnings per share for the quarter, beating the consensus estimate 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 company 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 firm posted $0.46 EPS. Microchip Technology’s quarterly 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. As a group, equities analysts predict that Microchip Technology will post 1.03 earnings per share for the current year.

Insider Buying and Selling

In other news, Director Matthew W. Chapman sold 10,000 shares of Microchip Technology stock in a transaction dated Monday, August 25th. The shares were sold at an average price of $68.25, for a total value of $682,500.00. Following the completion of the transaction, 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 filing with the SEC, which is accessible through this hyperlink. Also, CFO James Eric Bjornholt sold 7,356 shares of the stock in a transaction dated Monday, August 25th. The stock was sold at an average price of $68.72, for a total transaction of $505,504.32. Following the sale, the chief financial officer owned 30,010 shares in the company, valued at approximately $2,062,287.20. This trade represents a 19.69% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 1.94% of the company’s stock.

Institutional Investors Weigh In On Microchip Technology

Several hedge funds have recently made changes to their positions in the company. Winnow Wealth LLC purchased a new stake in shares of Microchip Technology in the third quarter valued at $25,000. Root Financial Partners LLC purchased a new position in Microchip Technology during the 3rd quarter valued at about $28,000. Salomon & Ludwin LLC boosted its holdings in shares of Microchip Technology by 219.3% during the third quarter. Salomon & Ludwin LLC now owns 479 shares of the semiconductor company’s stock worth $32,000 after purchasing an additional 329 shares during the period. Quent Capital LLC purchased a new position in Microchip Technology during the third quarter valued at approximately $32,000. Finally, MCF Advisors LLC boosted its stake in shares of Microchip Technology by 211.2% during the 2nd quarter. MCF Advisors LLC now owns 473 shares of the semiconductor company’s stock valued at $33,000 after buying an additional 321 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.