Microchip Technology (NASDAQ:MCHP) Price Target Raised to $95.00

Microchip Technology (NASDAQ:MCHP) had its price target hoisted by B. Riley from $85.00 to $95.00 in a research report released on Monday,Benzinga reports. B. Riley currently has a buy rating on the semiconductor company’s stock.

MCHP has been the subject of a number of other reports. Susquehanna decreased their target price on Microchip Technology from $85.00 to $75.00 and set a “positive” rating for the company in a research report on Friday, November 7th. Rosenblatt Securities reiterated a “buy” rating and issued a $80.00 price objective on shares of Microchip Technology in a research note on Tuesday, January 6th. Wells Fargo & Company increased their price objective on Microchip Technology from $58.00 to $68.00 and gave the company an “equal weight” rating in a report on Wednesday, January 7th. Truist Financial restated a “hold” rating and set a $60.00 target price (down from $64.00) on shares of Microchip Technology in a research report on Friday, November 7th. Finally, TD Cowen reduced their price target on shares of Microchip Technology from $65.00 to $60.00 and set a “hold” rating for the company in a research report on Friday, November 7th. One investment analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $78.57.

Microchip Technology Trading Up 0.8%

Shares of Microchip Technology stock opened at $74.68 on Monday. 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 company has a fifty day simple moving average of $62.16 and a 200-day simple moving average of $65.20. The stock has a market cap of $40.36 billion, a price-to-earnings ratio of -165.96, a PEG ratio of 2.23 and a beta of 1.46. Microchip Technology has a 12-month low of $34.13 and a 12-month high of $77.20.

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

Microchip Technology Announces Dividend

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

Insider Buying and Selling at Microchip Technology

In other Microchip Technology news, CFO James Eric Bjornholt sold 4,292 shares of the company’s stock in a transaction on Tuesday, November 25th. The shares were sold at an average price of $50.39, for a total transaction of $216,273.88. Following the completion of the transaction, the chief financial officer owned 30,089 shares in the company, valued at approximately $1,516,184.71. This represents a 12.48% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.94% of the stock is currently owned by corporate insiders.

Institutional Trading of Microchip Technology

Several hedge funds and other institutional investors have recently made changes to their positions in MCHP. Winnow Wealth LLC acquired a new stake in Microchip Technology in the third quarter valued at about $25,000. Root Financial Partners LLC acquired a new position in Microchip Technology during the 3rd quarter worth approximately $28,000. Salomon & Ludwin LLC raised its stake in shares of Microchip Technology by 219.3% during 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 acquired a new stake in shares of Microchip Technology in the 3rd quarter valued at approximately $32,000. Finally, MCF Advisors LLC lifted its holdings in shares of Microchip Technology by 211.2% in 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 during the period. Hedge funds and other institutional investors 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.