Microchip Technology (NASDAQ:MCHP) Price Target Raised to $85.00

Microchip Technology (NASDAQ:MCHP) had its price objective lifted by Piper Sandler from $80.00 to $85.00 in a research report sent to investors on Thursday morning,Benzinga reports. Piper Sandler currently has an overweight rating on the semiconductor company’s stock.

A number of other equities research analysts have also recently commented on MCHP. TD Cowen decreased their target price on shares of Microchip Technology from $65.00 to $60.00 and set a “hold” rating on the stock in a research note on Friday, November 7th. Bank of America increased their price objective on shares of Microchip Technology from $67.00 to $72.00 and gave the stock a “neutral” rating in a research note on Friday, December 5th. Cantor Fitzgerald raised shares of Microchip Technology from a “neutral” rating to an “overweight” rating and upped their target price for the stock from $65.00 to $85.00 in a report on Tuesday, December 16th. Weiss Ratings reissued a “sell (d+)” rating on shares of Microchip Technology in a report on Wednesday, October 8th. Finally, Wolfe Research set a $85.00 price objective on Microchip Technology in a research report on Tuesday, January 6th. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, six have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $79.38.

Microchip Technology Stock Performance

Shares of NASDAQ MCHP opened at $74.70 on Thursday. Microchip Technology has a 12-month low of $34.13 and a 12-month high of $77.20. The firm has a market capitalization of $40.37 billion, a price-to-earnings ratio of -166.00, a price-to-earnings-growth ratio of 2.25 and a beta of 1.46. The company has a current ratio of 2.25, a quick ratio of 1.20 and a debt-to-equity ratio of 0.80. The firm has a 50 day moving average of $62.83 and a 200 day moving average of $65.25.

Microchip Technology (NASDAQ:MCHP) last issued its quarterly earnings results on Thursday, November 6th. The semiconductor company reported $0.35 earnings per share for the quarter, topping the consensus estimate of $0.33 by $0.02. The business had revenue of $1.14 billion for the quarter, compared to analysts’ expectations of $1.13 billion. Microchip Technology had a negative net margin of 4.39% and a positive return on equity of 5.21%. The company’s revenue was down 2.0% compared to the same quarter last year. During the same quarter last year, the company posted $0.46 EPS. Microchip Technology has set its Q3 2026 guidance at 0.340-0.400 EPS. On average, research analysts anticipate that Microchip Technology will post 1.03 earnings per share for the current year.

Microchip Technology Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, December 9th. Stockholders of record on Monday, November 24th were given a dividend of $0.455 per share. The ex-dividend date was Monday, November 24th. This represents a $1.82 dividend on an annualized basis and a dividend yield of 2.4%. Microchip Technology’s dividend payout ratio (DPR) is presently -404.44%.

Insider Activity

In related news, CFO James Eric Bjornholt sold 4,292 shares of the business’s stock in a transaction dated Tuesday, November 25th. The stock was sold at an average price of $50.39, for a total value of $216,273.88. Following the sale, the chief financial officer directly owned 30,089 shares in the company, valued at approximately $1,516,184.71. The trade was a 12.48% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 1.94% of the company’s stock.

Institutional Trading of Microchip Technology

Hedge funds have recently modified their holdings of the company. Winnow Wealth LLC bought a new stake in Microchip Technology in the third quarter worth $25,000. Root Financial Partners LLC purchased a new position in shares of Microchip Technology in the 3rd quarter worth $28,000. Salomon & Ludwin LLC grew its stake in shares of Microchip Technology by 219.3% in the 3rd quarter. Salomon & Ludwin LLC now owns 479 shares of the semiconductor company’s stock worth $32,000 after buying an additional 329 shares in the last quarter. Quent Capital LLC bought a new stake in shares of Microchip Technology in the 3rd quarter worth about $32,000. Finally, MCF Advisors LLC raised its position 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 in the last quarter. 91.51% of the stock is owned by hedge funds and other institutional investors.

Microchip Technology Company Profile

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.