Microchip Technology (NASDAQ:MCHP) Stock Gets Price Target Trim from B. Riley Financial

Microchip Technology (NASDAQ:MCHP) had its target price decreased by B. Riley Financial from $108.00 to $98.00 in a research note issued to investors on Thursday,Benzinga reports. B. Riley Financial currently has a buy rating on the semiconductor company’s stock.

MCHP has been the topic of a number of other research reports. Rosenblatt Securities reiterated a “buy” rating and set a $120.00 target price on shares of Microchip Technology in a report on Friday, August 7th. Zacks Research downgraded Microchip Technology from a “strong-buy” rating to a “hold” rating in a research report on Monday, August 17th. Truist Financial cut their price target on Microchip Technology from $105.00 to $90.00 and set a “hold” rating for the company in a report on Friday, August 7th. Wells Fargo & Company reduced their price objective on Microchip Technology from $88.00 to $80.00 and set an “equal weight” rating on the stock in a research report on Tuesday, October 20th. Finally, UBS Group reaffirmed 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. Three research analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and eight have issued a Hold rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $97.71.

Microchip Technology Stock Down 0.6%

Shares of NASDAQ MCHP opened at $74.05 on Thursday. Microchip Technology has a 12-month low of $48.52 and a 12-month high of $105.91. The company has a market capitalization of $40.21 billion, a PE ratio of 110.52, a price-to-earnings-growth ratio of 0.51 and a beta of 1.77. The company has a debt-to-equity ratio of 0.83, a current ratio of 1.92 and a quick ratio of 1.11. The firm’s 50-day moving average is $75.09 and its two-hundred day moving average is $82.82.

Microchip Technology (NASDAQ:MCHP) last released its quarterly earnings results on Thursday, August 6th. The semiconductor company reported $0.76 EPS for the quarter, beating the consensus estimate of $0.70 by $0.06. Microchip Technology had a net margin of 9.34% and a return on equity of 14.97%. The business had revenue of $1.48 billion for the quarter, compared to analyst estimates of $1.46 billion. During the same period in the prior year, the business earned $0.27 earnings per share. The company’s quarterly revenue was up 38.0% on a year-over-year basis. Microchip Technology has set its Q2 2027 guidance at 0.910-0.950 EPS. Equities analysts anticipate that Microchip Technology will post 3.20 EPS for the current fiscal year.

Microchip Technology Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, September 9th. Shareholders of record on Monday, August 24th were paid a dividend of $0.4550 per share. This represents a $1.82 dividend on an annualized basis and a dividend yield of 2.5%. The ex-dividend date of this dividend was Monday, August 24th. 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 on Tuesday, August 25th. The stock was 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 in the company, valued at $2,152,118.36. This trade represents a 12.58% 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. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 1.79% of the stock is owned by company insiders.

Institutional Trading of Microchip Technology

A number of hedge funds have recently added to or reduced their stakes in MCHP. Broadway Wealth Solutions Inc. boosted its stake in Microchip Technology by 11.6% in the 3rd quarter. Broadway Wealth Solutions Inc. now owns 6,919 shares of the semiconductor company’s stock worth $538,000 after buying an additional 718 shares during the last quarter. Probity Advisors Inc. increased its stake in shares of Microchip Technology by 1.6% during the 3rd quarter. Probity Advisors Inc. now owns 36,537 shares of the semiconductor company’s stock valued at $2,842,000 after acquiring an additional 566 shares during the last quarter. Signaturefd LLC increased its stake in shares of Microchip Technology by 3.8% during the 3rd quarter. Signaturefd LLC now owns 10,921 shares of the semiconductor company’s stock valued at $849,000 after acquiring an additional 397 shares during the last quarter. Citizens Financial Group Inc. RI increased its stake in shares of Microchip Technology by 51.1% during the 3rd quarter. Citizens Financial Group Inc. RI now owns 11,449 shares of the semiconductor company’s stock valued at $890,000 after acquiring an additional 3,872 shares during the last quarter. Finally, Evergreen Capital Management LLC purchased a new position in shares of Microchip Technology during the 3rd quarter worth about $256,000. 91.51% of the stock is owned by institutional investors and hedge funds.

About Microchip Technology

Microchip Technology Incorporated (NASDAQ:MCHP) develops and manufactures semiconductor products used in embedded control and connected electronic systems. Its portfolio includes microcontrollers, microprocessors, analog and power-management devices, memory products, timing and connectivity components, security solutions, and field-programmable gate arrays. The company also provides development tools, software, evaluation kits, and technical support to help customers design and produce electronic equipment.

Microchip’s products are used across a range of markets, including automotive, industrial, aerospace and defense, communications, consumer electronics, data centers, and medical applications.