Microchip Technology (NASDAQ:MCHP) Stock Price Target Lowered at KeyCorp

Microchip Technology (NASDAQ:MCHP) had its target price lowered by KeyCorp from $135.00 to $120.00 in a report issued on Friday,Benzinga reports. The brokerage currently has an overweight rating on the semiconductor company’s stock.

Other analysts have also recently issued reports about the company. B. Riley Financial dropped their price target on Microchip Technology from $108.00 to $98.00 and set a “buy” rating on the stock in a research report on Thursday, October 22nd. TD Cowen lowered their price objective on Microchip Technology from $90.00 to $75.00 and set a “hold” rating for the company in a research note on Monday, October 19th. BMO Capital Markets started coverage on Microchip Technology in a research note on Friday, August 21st. They set an “outperform” rating and a $95.00 price objective for the company. Rosenblatt Securities dropped their target price on Microchip Technology from $120.00 to $115.00 and set a “buy” rating on the stock in a research report on Friday. Finally, Citigroup cut their target price on Microchip Technology from $113.00 to $95.00 and set a “buy” rating on the stock in a research note on Friday, August 7th. Three investment analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and seven have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $91.64.

Microchip Technology Stock Down 10.0%

MCHP stock traded down $6.50 during midday trading on Friday, hitting $58.35. 47,392,436 shares of the company’s stock were exchanged, compared to its average volume of 10,941,434. The stock has a market capitalization of $31.68 billion, a price-to-earnings ratio of 44.20, a price-to-earnings-growth ratio of 0.52 and a beta of 1.84. The company has a current ratio of 1.92, a quick ratio of 1.11 and a debt-to-equity ratio of 0.83. The firm has a 50 day moving average price of $74.85 and a 200-day moving average price of $79.41. Microchip Technology has a 12-month low of $48.52 and a 12-month high of $105.91.

Microchip Technology (NASDAQ:MCHP) last announced its quarterly earnings data on Thursday, November 5th. The semiconductor company reported $0.97 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.94 by $0.03. Microchip Technology had a return on equity of 14.97% and a net margin of 9.34%. The firm had revenue of $1.62 billion for the quarter, compared to analysts’ expectations of $1.61 billion. During the same period last year, the business posted $0.35 earnings per share. The firm’s revenue for the quarter was up 42.2% on a year-over-year basis. On average, analysts anticipate that Microchip Technology will post 3.20 EPS for the current year.

Microchip Technology Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 8th. Investors of record on Monday, November 23rd will be given a $0.4550 dividend. This represents a $1.82 annualized dividend and a yield of 3.1%. The ex-dividend date is Monday, November 23rd. Microchip Technology’s dividend payout ratio (DPR) is currently 271.64%.

Insiders Place Their Bets

In other Microchip Technology news, CFO James Bjornholt sold 4,112 shares of Microchip Technology 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 of the company’s stock, valued at $2,152,118.36. The trade was a 12.58% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 1.79% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of MCHP. Private Capital Advisors Inc. acquired a new stake in Microchip Technology in the third quarter worth approximately $21,230,000. Viking Fund Management LLC bought a new position in Microchip Technology during the 3rd quarter valued at $8,555,000. Junto Capital Management LP acquired a new position in shares of Microchip Technology during the 2nd quarter valued at $38,537,000. Hsbc Holdings PLC increased its position in shares of Microchip Technology by 13.0% during the 1st quarter. Hsbc Holdings PLC now owns 1,160,129 shares of the semiconductor company’s stock valued at $74,649,000 after purchasing an additional 133,813 shares during the period. Finally, LGT Fund Management Co Ltd. bought a new stake in shares of Microchip Technology in the 1st quarter worth $3,428,000. 91.51% of the stock is owned by institutional investors and hedge funds.

Microchip Technology News Summary

Here are the key news stories impacting Microchip Technology this week:

• Positive Sentiment: Fiscal Q2 EPS was $0.97 versus the $0.94 consensus, while revenue of $1.62 billion topped estimates and rose 42.2% year over year. Reports cited recovering industrial and data-center demand and improving margins as growth drivers. Zacks earnings report
• Positive Sentiment: Microchip declared a quarterly dividend of $0.455 per share, equivalent to $1.82 annually and a reported yield of about 3.2%. The dividend may appeal to income-focused investors.
• Neutral Sentiment: Several analysts still rate MCHP Buy or Overweight, and their revised targets remain above the cited $58.35 share price. However, the target reductions signal more cautious expectations.
• Negative Sentiment: Management’s fiscal Q3 outlook is a key concern: revenue is forecast to range from 3% below to 1% above Q2, with non-GAAP EPS of $0.87–$0.95. The midpoint was reported below consensus; supply constraints and rising costs could limit near-term growth. Benzinga analyst coverage
• Negative Sentiment: Analysts cut targets after the results, including Truist to $62 from $90 and Evercore ISI to $75 from $117. Citigroup lowered its target to $75 from $95 but kept a Buy rating; the broader reset in expectations may pressure shares despite generally higher remaining targets. Truist analyst recommendations Evercore ISI target update

Microchip Technology Company Profile