Microchip Technology Incorporated (NASDAQ:MCHP – Free Report) – Analysts at KeyCorp boosted their Q3 2027 EPS estimates for shares of Microchip Technology in a research note issued to investors on Wednesday, October 14th. KeyCorp analyst J. Vinh now expects that the semiconductor company will post earnings of $0.94 per share for the quarter, up from their prior forecast of $0.81. The consensus estimate for Microchip Technology’s current full-year earnings is $3.20 per share. KeyCorp also issued estimates for Microchip Technology’s FY2027 earnings at $3.41 EPS, Q2 2028 earnings at $1.16 EPS, Q3 2028 earnings at $1.14 EPS, Q4 2028 earnings at $1.21 EPS and FY2028 earnings at $4.54 EPS.
Microchip Technology (NASDAQ:MCHP – Get Free Report) last released its quarterly earnings results on Thursday, August 6th. The semiconductor company reported $0.76 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.70 by $0.06. The company had revenue of $1.48 billion during the quarter, compared to analysts’ expectations of $1.46 billion. Microchip Technology had a net margin of 9.34% and a return on equity of 14.97%. The business’s quarterly revenue was up 38.0% compared to the same quarter last year. During the same period in the prior year, the company earned $0.27 earnings per share. Microchip Technology has set its Q2 2027 guidance at 0.910-0.950 EPS.
Other equities research analysts have also recently issued reports about the company. Cantor Fitzgerald reissued an “overweight” rating on shares of Microchip Technology in a research report on Wednesday, September 9th. Weiss Ratings raised shares of Microchip Technology from a “hold (c-)” rating to a “hold (c)” rating in a research report on Tuesday, August 11th. UBS Group reaffirmed a “buy” rating and set a $120.00 target price (down from $130.00) on shares of Microchip Technology in a research report on Friday, August 7th. BMO Capital Markets began coverage on shares of Microchip Technology in a research note on Friday, August 21st. They set an “outperform” rating and a $95.00 target price for the company. Finally, Truist Financial reduced their price target on shares of Microchip Technology from $105.00 to $90.00 and set a “hold” rating for the company in a report on Friday, August 7th. Three research analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and eight have given a Hold rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $97.57.
Check Out Our Latest Report on Microchip Technology
Microchip Technology Stock Performance
Shares of NASDAQ MCHP opened at $75.85 on Monday. Microchip Technology has a 12 month low of $48.52 and a 12 month high of $105.91. The company has a market cap of $41.19 billion, a P/E ratio of 45.38, a P/E/G ratio of 0.51 and a beta of 1.77. The business’s 50 day moving average is $75.30 and its two-hundred day moving average is $82.74. The company has a quick ratio of 1.11, a current ratio of 1.92 and a debt-to-equity ratio of 0.83.
Microchip Technology Dividend Announcement
The company also recently declared a quarterly dividend, which was paid on Wednesday, September 9th. Shareholders of record on Monday, August 24th were issued a $0.4550 dividend. The ex-dividend date of this dividend was Monday, August 24th. This represents a $1.82 annualized dividend and a yield of 2.4%. Microchip Technology’s dividend payout ratio is 271.64%.
Insider Buying and Selling
In other Microchip Technology news, CFO James Bjornholt sold 4,112 shares of the firm’s stock in a transaction that occurred on Tuesday, August 25th. The stock was sold at an average price of $75.32, for a total value of $309,715.84. Following the completion of the sale, the chief financial officer owned 28,573 shares in the company, valued at approximately $2,152,118.36. This trade represents a 12.58% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 1.79% of the stock is currently owned by company insiders.
Institutional Trading of Microchip Technology
Several institutional investors have recently modified their holdings of MCHP. Robeco Institutional Asset Management B.V. bought a new stake in shares of Microchip Technology during the third quarter worth approximately $423,000. Norway Savings Bank lifted its holdings in Microchip Technology by 0.7% in the third quarter. Norway Savings Bank now owns 32,040 shares of the semiconductor company’s stock valued at $2,492,000 after buying an additional 223 shares during the period. CFS Investment Advisory Services LLC boosted its stake in Microchip Technology by 10.9% in the third quarter. CFS Investment Advisory Services LLC now owns 3,343 shares of the semiconductor company’s stock valued at $272,000 after acquiring an additional 328 shares during the last quarter. Jackson Square Capital LLC bought a new position in Microchip Technology in the third quarter valued at approximately $995,000. Finally, IFP Advisors Inc boosted its stake in Microchip Technology by 102.7% in the third quarter. IFP Advisors Inc now owns 3,568 shares of the semiconductor company’s stock valued at $277,000 after acquiring an additional 1,808 shares during the last quarter. Institutional investors and hedge funds own 91.51% of the company’s stock.
About Microchip Technology
Microchip Technology Incorporated (NASDAQ:MCHP) develops and manufactures semiconductor products used in embedded control and connected electronic systems. Its portfolio includes microcontrollers, microprocessors, analog and power-management devices, memory products, timing and connectivity components, security solutions, and field-programmable gate arrays. The company also provides development tools, software, evaluation kits, and technical support to help customers design and produce electronic equipment.
Microchip’s products are used across a range of markets, including automotive, industrial, aerospace and defense, communications, consumer electronics, data centers, and medical applications.
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