Microchip Technology Incorporated (NASDAQ:MCHP) Receives $95.35 Average PT from Brokerages

Shares of Microchip Technology Incorporated (NASDAQ:MCHP) have been given a consensus rating of “Moderate Buy” by the twenty-six brokerages that are covering the company, Marketbeat.com reports. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating, fifteen have issued a buy rating and three have given a strong buy rating to the company. The average 12-month price objective among brokers that have issued a report on the stock in the last year is $97.5217.

A number of research analysts have recently weighed in on MCHP shares. Stifel Nicolaus set a $90.00 price objective on Microchip Technology in a research report on Friday, February 6th. Needham & Company LLC boosted their target price on Microchip Technology from $84.00 to $120.00 and gave the stock a “buy” rating in a research report on Friday, May 8th. Jefferies Financial Group reissued a “hold” rating on shares of Microchip Technology in a research note on Wednesday, February 4th. Mizuho lifted their price objective on Microchip Technology from $83.00 to $90.00 and gave the stock an “outperform” rating in a research note on Friday, February 6th. Finally, Weiss Ratings cut Microchip Technology from a “hold (c-)” rating to a “sell (d+)” rating in a report on Friday, May 8th.

Insider Transactions at Microchip Technology

In other Microchip Technology news, CEO Steve Sanghi sold 76,469 shares of the stock in a transaction on Friday, May 1st. The shares were sold at an average price of $93.58, for a total transaction of $7,155,969.02. Following the completion of the transaction, the chief executive officer owned 9,385,834 shares in the company, valued at $878,326,345.72. This trade represents a 0.81% 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. Insiders have sold a total of 526,552 shares of company stock worth $47,130,465 over the last quarter. 1.94% of the stock is owned by corporate insiders.

Institutional Trading of Microchip Technology

Several hedge funds have recently made changes to their positions in MCHP. Wolverine Asset Management LLC raised its position in Microchip Technology by 3,833.7% during the 4th quarter. Wolverine Asset Management LLC now owns 37,921 shares of the semiconductor company’s stock valued at $2,416,000 after purchasing an additional 36,957 shares in the last quarter. Vanguard Group Inc. grew its position in shares of Microchip Technology by 2.1% during the 3rd quarter. Vanguard Group Inc. now owns 72,075,558 shares of the semiconductor company’s stock worth $4,628,692,000 after buying an additional 1,507,554 shares in the last quarter. PNC Financial Services Group Inc. raised its holdings in shares of Microchip Technology by 13.5% in the third quarter. PNC Financial Services Group Inc. now owns 209,384 shares of the semiconductor company’s stock valued at $13,447,000 after acquiring an additional 24,963 shares in the last quarter. Natixis Advisors LLC raised its holdings in shares of Microchip Technology by 18.7% in the third quarter. Natixis Advisors LLC now owns 1,233,018 shares of the semiconductor company’s stock valued at $79,184,000 after acquiring an additional 194,048 shares in the last quarter. Finally, Cibc World Market Inc. lifted its stake in Microchip Technology by 223.4% in the third 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 during the period. 91.51% of the stock is currently owned by hedge funds and other institutional investors.

Microchip Technology Trading Down 1.0%

Microchip Technology stock opened at $96.71 on Friday. Microchip Technology has a 1 year low of $48.52 and a 1 year high of $105.91. The firm’s 50 day moving average price is $75.13 and its 200-day moving average price is $70.10. The company has a debt-to-equity ratio of 0.85, a current ratio of 2.09 and a quick ratio of 1.18. The stock has a market cap of $52.33 billion, a P/E ratio of 460.55, a PEG ratio of 1.20 and a beta of 1.75.

Microchip Technology (NASDAQ:MCHP) last posted its earnings results on Thursday, May 7th. The semiconductor company reported $0.57 earnings per share for the quarter, beating the consensus estimate of $0.50 by $0.07. The company had revenue of $1.31 billion during the quarter, compared to analysts’ expectations of $1.26 billion. Microchip Technology had a net margin of 4.88% and a return on equity of 10.87%. Microchip Technology’s quarterly revenue was up 35.1% on a year-over-year basis. During the same period last year, the company posted $0.11 earnings per share. Microchip Technology has set its Q1 2027 guidance at 0.670-0.710 EPS. On average, equities analysts predict that Microchip Technology will post 2.21 earnings per share for the current fiscal year.

Microchip Technology Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 5th. Investors of record on Friday, May 22nd will be given a $0.455 dividend. This represents a $1.82 annualized dividend and a yield of 1.9%. The ex-dividend date is Friday, May 22nd. Microchip Technology’s payout ratio is currently 866.67%.

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.