Stifel Nicolaus Cuts Microchip Technology (NASDAQ:MCHP) Price Target to $75.00

Microchip Technology (NASDAQ:MCHP) had its price target lowered by Stifel Nicolaus from $82.00 to $75.00 in a report published on Friday morning,Benzinga reports. The brokerage currently has a buy rating on the semiconductor company’s stock.

Several other equities analysts have also weighed in on MCHP. Susquehanna lifted their target price on shares of Microchip Technology from $60.00 to $90.00 and gave the company a “positive” rating in a report on Tuesday, July 22nd. Piper Sandler raised their target price on Microchip Technology from $65.00 to $80.00 and gave the company an “overweight” rating in a report on Friday, August 8th. Weiss Ratings restated a “sell (d+)” rating on shares of Microchip Technology in a report on Wednesday, October 8th. Morgan Stanley lifted their price objective on shares of Microchip Technology from $63.00 to $68.00 and gave the company an “equal weight” rating in a research note on Tuesday, November 4th. Finally, Raymond James Financial upped their target price on shares of Microchip Technology from $65.00 to $75.00 and gave the company a “strong-buy” rating in a research note on Friday, August 8th. One analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating, seven have given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $73.47.

Microchip Technology Trading Down 0.9%

Shares of NASDAQ:MCHP traded down $0.53 during midday trading on Friday, reaching $55.76. The company’s stock had a trading volume of 2,458,214 shares, compared to its average volume of 9,666,291. The firm has a market cap of $30.09 billion, a price-to-earnings ratio of -163.68, a price-to-earnings-growth ratio of 1.79 and a beta of 1.57. The business has a 50 day moving average price of $64.24 and a 200 day moving average price of $64.41. Microchip Technology has a 1 year low of $34.13 and a 1 year high of $77.20. The company has a quick ratio of 1.33, a current ratio of 2.31 and a debt-to-equity ratio of 0.80.

Microchip Technology (NASDAQ:MCHP) last released its earnings results on Thursday, November 6th. The semiconductor company reported $0.35 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.33 by $0.02. Microchip Technology had a negative net margin of 3.50% and a positive return on equity of 6.24%. The business had revenue of $1.14 billion for the quarter, compared to analysts’ expectations of $1.13 billion. During the same period last year, the company earned $0.46 earnings per share. The company’s quarterly revenue was down 2.0% on a year-over-year basis. Microchip Technology has set its Q3 2026 guidance at 0.340-0.400 EPS. Research analysts forecast that Microchip Technology will post 1.03 EPS for the current year.

Microchip Technology Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 9th. Stockholders of record on Monday, November 24th will be issued a $0.455 dividend. The ex-dividend date is Monday, November 24th. This represents a $1.82 annualized dividend and a dividend yield of 3.3%. Microchip Technology’s dividend payout ratio (DPR) is -404.44%.

Insider Buying and Selling at Microchip Technology

In related news, Director Matthew W. Chapman sold 10,000 shares of the firm’s stock in a transaction dated Monday, August 25th. The stock was sold at an average price of $68.25, for a total transaction of $682,500.00. Following the completion of the transaction, the director owned 30,665 shares of the company’s stock, valued at $2,092,886.25. This trade represents a 24.59% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO James Eric Bjornholt sold 7,356 shares of the stock in a transaction that occurred on Monday, August 25th. The shares were sold at an average price of $68.72, for a total transaction of $505,504.32. Following the sale, the chief financial officer directly owned 30,010 shares of the company’s stock, valued at approximately $2,062,287.20. This represents a 19.69% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 1.94% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Microchip Technology

Several hedge funds have recently bought and sold shares of the business. Winnow Wealth LLC purchased a new position in Microchip Technology during the 3rd quarter valued at about $25,000. Root Financial Partners LLC bought a new position in Microchip Technology during the third quarter valued at about $28,000. Salomon & Ludwin LLC boosted its position in Microchip Technology by 219.3% during the third quarter. Salomon & Ludwin LLC now owns 479 shares of the semiconductor company’s stock worth $32,000 after purchasing an additional 329 shares during the period. Quent Capital LLC acquired a new position in Microchip Technology in the 3rd quarter valued at $32,000. Finally, MCF Advisors LLC grew its position in shares of Microchip Technology by 211.2% in the second quarter. MCF Advisors LLC now owns 473 shares of the semiconductor company’s stock valued at $33,000 after purchasing an additional 321 shares during the last quarter. 91.51% of the stock is owned by hedge funds and other institutional investors.

About Microchip Technology

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.