Microchip Technology (NASDAQ:MCHP) Upgraded at Cantor Fitzgerald

Cantor Fitzgerald upgraded shares of Microchip Technology (NASDAQ:MCHP) from a neutral rating to an overweight rating in a report issued on Tuesday morning, Marketbeat.com reports. They currently have $85.00 price objective on the semiconductor company’s stock, up from their previous price objective of $65.00.

Several other equities research analysts have also recently issued reports on the company. KeyCorp reissued an “overweight” rating on shares of Microchip Technology in a research note on Wednesday, December 3rd. Bank of America raised their price objective on Microchip Technology from $67.00 to $72.00 and gave the stock a “neutral” rating in a research report on Friday, December 5th. Wells Fargo & Company decreased their target price on shares of Microchip Technology from $60.00 to $58.00 and set an “equal weight” rating on the stock in a research report on Friday, November 7th. Susquehanna dropped their price target on shares of Microchip Technology from $85.00 to $75.00 and set a “positive” rating for the company in a research report on Friday, November 7th. Finally, Rosenblatt Securities reissued a “buy” rating and issued a $80.00 price target on shares of Microchip Technology in a research note on Wednesday, December 3rd. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $76.00.

Microchip Technology Price Performance

Microchip Technology stock opened at $64.06 on Tuesday. Microchip Technology has a 12-month low of $34.13 and a 12-month high of $77.20. The stock has a market cap of $34.62 billion, a P/E ratio of -142.36, a PEG ratio of 2.02 and a beta of 1.47. The company has a 50-day moving average price of $60.36 and a 200 day moving average price of $65.10. The company has a current ratio of 2.25, a quick ratio of 1.20 and a debt-to-equity ratio of 0.80.

Microchip Technology (NASDAQ:MCHP) last posted its 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. The company had revenue of $1.14 billion for the quarter, compared to analyst estimates of $1.13 billion. Microchip Technology had a negative net margin of 4.39% and a positive return on equity of 5.21%. Microchip Technology’s revenue was down 2.0% on a year-over-year basis. During the same period in the previous year, the business posted $0.46 EPS. Microchip Technology has set its Q3 2026 guidance at 0.340-0.400 EPS. Sell-side analysts anticipate that Microchip Technology will post 1.03 earnings per share for the current year.

Microchip Technology Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, December 9th. Investors of record on Monday, November 24th were paid a dividend of $0.455 per share. This represents a $1.82 annualized dividend and a yield of 2.8%. The ex-dividend date of this dividend was Monday, November 24th. Microchip Technology’s dividend payout ratio is presently -404.44%.

Insider Transactions at Microchip Technology

In other Microchip Technology news, CFO James Eric Bjornholt sold 4,292 shares of the firm’s stock in a transaction that occurred on Tuesday, November 25th. The shares were sold at an average price of $50.39, for a total value of $216,273.88. Following the completion of the transaction, the chief financial officer owned 30,089 shares of the company’s stock, valued at $1,516,184.71. This trade represents a 12.48% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. 1.94% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of MCHP. Parsons Capital Management Inc. RI purchased a new position in Microchip Technology in the second quarter valued at $280,000. Mizuho Markets Cayman LP purchased a new position in shares of Microchip Technology in the 2nd quarter valued at about $107,584,000. Boston Partners increased its holdings in shares of Microchip Technology by 38.0% in the 2nd quarter. Boston Partners now owns 14,802,525 shares of the semiconductor company’s stock valued at $1,040,114,000 after acquiring an additional 4,076,112 shares during the last quarter. United Advisor Group LLC acquired a new stake in shares of Microchip Technology during the 2nd quarter worth about $380,000. Finally, T. Rowe Price Investment Management Inc. lifted its stake in Microchip Technology by 0.9% during the first quarter. T. Rowe Price Investment Management Inc. now owns 16,630,574 shares of the semiconductor company’s stock worth $805,087,000 after purchasing an additional 152,434 shares during the last quarter. 91.51% of the stock is currently owned by hedge funds and other institutional investors.

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.