Brokerages Set Microchip Technology Incorporated (NASDAQ:MCHP) PT at $99.76

Shares of Microchip Technology Incorporated (NASDAQ:MCHP) have been given a consensus recommendation of “Moderate Buy” by the twenty-four ratings firms that are presently covering the company, Marketbeat.com reports. Seven research analysts have rated the stock with a hold recommendation, thirteen have issued a buy recommendation and four have given a strong buy recommendation to the company. The average twelve-month price target among analysts that have issued a report on the stock in the last year is $99.7619.

Several brokerages recently commented on MCHP. Needham & Company LLC upped their price target on shares of Microchip Technology from $84.00 to $120.00 and gave the stock a “buy” rating in a research report on Friday, May 8th. Barclays upped their price target on Microchip Technology from $80.00 to $105.00 and gave the stock an “equal weight” rating in a report on Monday, May 11th. Weiss Ratings downgraded Microchip Technology from a “hold (c)” rating to a “hold (c-)” rating in a research note on Friday, July 24th. Wall Street Zen raised shares of Microchip Technology from a “hold” rating to a “buy” rating in a research report on Saturday, May 9th. Finally, Rosenblatt Securities boosted their price objective on Microchip Technology from $115.00 to $120.00 and gave the company a “buy” rating in a report on Friday, May 8th.

Microchip Technology Trading Down 5.7%

Microchip Technology stock opened at $71.37 on Thursday. The stock has a 50-day moving average price of $89.57 and a 200 day moving average price of $81.20. The company has a current ratio of 2.09, a quick ratio of 1.18 and a debt-to-equity ratio of 0.85. The stock has a market cap of $38.75 billion, a PE ratio of 339.87, a P/E/G ratio of 0.76 and a beta of 1.74. Microchip Technology has a 52 week low of $48.52 and a 52 week high of $105.91.

Microchip Technology (NASDAQ:MCHP) last announced its quarterly earnings data on Thursday, May 7th. The semiconductor company reported $0.57 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.50 by $0.07. The business had revenue of $1.31 billion for the quarter, compared to the consensus estimate of $1.26 billion. Microchip Technology had a net margin of 4.88% and a return on equity of 10.87%. The company’s quarterly revenue was up 35.1% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.11 earnings per share. Microchip Technology has set its Q1 2027 guidance at 0.670-0.710 EPS. Equities research analysts predict that Microchip Technology will post 2.7 earnings per share for the current fiscal year.

Microchip Technology Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 5th. Investors of record on Friday, May 22nd were paid a dividend of $0.455 per share. The ex-dividend date was Friday, May 22nd. This represents a $1.82 annualized dividend and a yield of 2.6%. Microchip Technology’s dividend payout ratio is 866.67%.

Insider Buying and Selling

In other Microchip Technology news, CFO James Eric Bjornholt sold 3,667 shares of the business’s stock in a transaction dated Friday, May 22nd. The shares were sold at an average price of $90.87, for a total transaction of $333,220.29. Following the completion of the transaction, the chief financial officer directly owned 28,573 shares of the company’s stock, valued at $2,596,428.51. The trade was a 11.37% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Matthew W. Chapman sold 3,000 shares of the business’s stock in a transaction that occurred on Thursday, May 28th. The stock was sold at an average price of $97.52, for a total value of $292,560.00. Following the transaction, the director owned 17,665 shares of the company’s stock, valued at approximately $1,722,690.80. This represents a 14.52% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 103,219 shares of company stock valued at $9,699,139 over the last quarter. Company insiders own 1.79% of the company’s stock.

Institutional Investors Weigh In On Microchip Technology

Several institutional investors have recently bought and sold shares of MCHP. Beese Fulmer Investment Management Inc. acquired a new position in shares of Microchip Technology during the second quarter valued at approximately $311,000. Ethic Inc. acquired a new stake in Microchip Technology during the second quarter valued at approximately $5,740,000. Westfuller Advisors LLC bought a new stake in shares of Microchip Technology during the 2nd quarter worth $83,000. Chesapeake Capital Corp IL acquired a new stake in shares of Microchip Technology during the second quarter worth $277,000. Finally, Ashton Thomas Private Wealth LLC purchased a new stake in shares of Microchip Technology during the second quarter valued at $228,000. Institutional investors and hedge funds own 91.51% of the company’s stock.

About Microchip Technology

Microchip Technology Inc is a semiconductor company headquartered in Chandler, Arizona, that designs, develops and supplies a broad portfolio of embedded control and analog semiconductors. Its product lineup centers on microcontrollers (including the well-known PIC family), digital signal controllers and associated development tools and software, along with a range of mixed-signal and analog devices, nonvolatile memory, power management, timing, interface, wireless and security products. The company also provides integrated hardware and software solutions intended to simplify embedded design and accelerate time to market for OEMs and contract manufacturers.

Microchip’s products are used across a wide range of end markets, including automotive, industrial automation, consumer electronics, communications, aerospace and defense, and Internet of Things (IoT) applications.