Microchip Technology (NASDAQ:MCHP – Free Report) had its price objective lowered by Citigroup from $113.00 to $95.00 in a research report report published on Friday,Benzinga reports. The firm currently has a buy rating on the semiconductor company’s stock.
A number of other equities research analysts have also recently issued reports on MCHP. Wells Fargo & Company dropped their price objective on Microchip Technology from $95.00 to $88.00 and set an “equal weight” rating on the stock in a research note on Monday, July 20th. UBS Group reaffirmed a “buy” rating and set a $120.00 price target (down from $130.00) on shares of Microchip Technology in a research report on Friday. Wall Street Zen upgraded shares of Microchip Technology from a “hold” rating to a “buy” rating in a research note on Saturday, May 9th. Truist Financial lowered their price objective on shares of Microchip Technology from $105.00 to $90.00 and set a “hold” rating on the stock in a research note on Friday. Finally, Needham & Company LLC upped their target price on shares of Microchip Technology from $84.00 to $120.00 and gave the company a “buy” rating in a report on Friday, May 8th. Three investment analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating and seven have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $98.85.
View Our Latest Stock Analysis on Microchip Technology
Microchip Technology Stock Up 13.9%
Microchip Technology (NASDAQ:MCHP – Get Free Report) last announced its quarterly earnings data on Thursday, August 6th. The semiconductor company reported $0.76 earnings per share for the quarter, beating the consensus estimate of $0.70 by $0.06. Microchip Technology had a return on equity of 10.87% and a net margin of 4.88%.The company had revenue of $1.48 billion during the quarter, compared to analysts’ expectations of $1.46 billion. During the same quarter last year, the company earned $0.27 EPS. Microchip Technology’s revenue for the quarter was up 38.0% compared to the same quarter last year. Microchip Technology has set its Q2 2027 guidance at 0.910-0.950 EPS. On average, equities analysts predict that Microchip Technology will post 2.7 EPS for the current fiscal year.
Microchip Technology Dividend Announcement
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 9th. Stockholders of record on Monday, August 24th will be given a $0.455 dividend. The ex-dividend date of this dividend is Monday, August 24th. This represents a $1.82 annualized dividend and a dividend yield of 2.1%. Microchip Technology’s dividend payout ratio is presently 866.67%.
Insiders Place Their Bets
In related news, Director Matthew W. Chapman sold 3,000 shares of Microchip Technology stock in a transaction that occurred on Thursday, May 28th. The stock was sold at an average price of $97.52, for a total transaction of $292,560.00. Following the completion of the sale, the director directly owned 17,665 shares of the company’s stock, valued at approximately $1,722,690.80. This trade represents a 14.52% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CFO James Eric Bjornholt sold 3,667 shares of the business’s stock in a transaction on Friday, May 22nd. The shares were sold at an average price of $90.87, for a total value of $333,220.29. Following the completion of the sale, the chief financial officer owned 28,573 shares of the company’s stock, valued at $2,596,428.51. This trade represents a 11.37% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 26,750 shares of company stock worth $2,543,170 over the last three months. Insiders own 1.79% of the company’s stock.
Institutional Investors Weigh In On Microchip Technology
A number of hedge funds and other institutional investors have recently modified their holdings of the company. EFG International AG acquired a new stake in Microchip Technology in the 4th quarter worth about $29,000. Miller Capital Partners Inc. acquired a new position in shares of Microchip Technology during the 4th quarter worth approximately $29,000. Continuum Advisory LLC bought a new position in shares of Microchip Technology during the second quarter worth approximately $30,000. Reflection Asset Management acquired a new stake in shares of Microchip Technology in the fourth quarter valued at approximately $33,000. Finally, Garton & Associates Financial Advisors LLC acquired a new stake in shares of Microchip Technology in the fourth quarter valued at approximately $33,000. Institutional investors and hedge funds own 91.51% of the company’s stock.
Trending Headlines about Microchip Technology
Here are the key news stories impacting Microchip Technology this week:
- Positive Sentiment: Quarterly results exceeded expectations. Microchip reported fiscal Q1 2027 earnings of $0.76 per share, above the $0.70 consensus estimate, while revenue rose 38% year over year to $1.48 billion, topping expectations of $1.46 billion. Management cited demand recovery, inventory normalization, higher factory utilization and improved cash flow. MCHP Q1 Earnings Beat Estimates, Revenues Rise on Demand Recovery
- Positive Sentiment: Forward guidance was well above Wall Street forecasts. Microchip projected fiscal Q2 EPS of $0.91-$0.95 and revenue of approximately $1.6 billion, versus consensus estimates of $0.76 EPS and $1.5 billion in revenue. The outlook reflects strengthening demand for chips used in AI data centers, industrial, automotive and aerospace applications. Microchip Tech forecasts upbeat quarterly revenue on strong demand
- Positive Sentiment: Analysts see potential for a longer growth cycle. Commentary highlighted data-center-related revenue and AI infrastructure demand as possible drivers of sustained growth. Rosenblatt reaffirmed its “buy” rating and maintained a $120 price target. Microchip’s data center-related revenue likely drives longer up-cycle
- Neutral Sentiment: Microchip declared a quarterly dividend of $0.455 per share, payable September 9 to shareholders of record August 24. The dividend provides income support and represents an annualized yield of roughly 2.2%.
- Negative Sentiment: Truist lowered its price target to $90 from $105 and retained a “hold” rating. The revision suggests some caution about how much of the recovery is already reflected in MCHP’s valuation, despite the improved outlook. Truist price-target update
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.
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