Needham & Company LLC Issues Pessimistic Forecast for Microchip Technology (NASDAQ:MCHP) Stock Price

Microchip Technology (NASDAQ:MCHP) had its target price decreased by research analysts at Needham & Company LLC from $77.00 to $73.00 in a report issued on Friday,Benzinga reports. The firm currently has a “buy” rating on the semiconductor company’s stock. Needham & Company LLC’s target price points to a potential upside of 23.00% from the stock’s previous close.

Several other equities research analysts also recently issued reports on MCHP. Stifel Nicolaus raised their price objective on shares of Microchip Technology from $70.00 to $82.00 and gave the stock a “buy” rating in a research note on Friday, July 18th. Susquehanna boosted their price objective on shares of Microchip Technology from $60.00 to $90.00 and gave the stock a “positive” rating in a report on Tuesday, July 22nd. Raymond James Financial upped their price objective on shares of Microchip Technology from $65.00 to $75.00 and gave the company a “strong-buy” rating in a research report on Friday, August 8th. TD Cowen decreased their target price on Microchip Technology from $75.00 to $60.00 and set a “hold” rating on the stock in a research report on Friday, August 8th. Finally, The Goldman Sachs Group assumed coverage on Microchip Technology in a report on Thursday, July 10th. They issued a “buy” rating and a $88.00 price target for the company. One investment 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 given a Sell rating to the company’s stock. According to MarketBeat, Microchip Technology currently has a consensus rating of “Moderate Buy” and an average target price of $75.37.

Microchip Technology Stock Down 2.4%

MCHP opened at $59.35 on Friday. The business has a 50 day moving average price of $64.42 and a 200 day moving average price of $63.97. The company has a debt-to-equity ratio of 0.80, a quick ratio of 1.33 and a current ratio of 2.31. Microchip Technology has a twelve month low of $34.13 and a twelve month high of $77.20. The firm has a market cap of $32.03 billion, a P/E ratio of -174.56, a price-to-earnings-growth ratio of 1.79 and a beta of 1.57.

Microchip Technology (NASDAQ:MCHP) last posted its earnings results on Thursday, November 6th. The semiconductor company reported $0.35 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.33 by $0.02. The business had revenue of $1.14 billion for the quarter, compared to analyst estimates of $1.13 billion. Microchip Technology had a negative net margin of 3.50% and a positive return on equity of 6.24%. Microchip Technology’s revenue was down 2.0% compared to the same quarter last year. During the same period last year, the business posted $0.46 EPS. 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.

Insider Activity

In other news, Director Matthew W. Chapman sold 10,000 shares of the company’s stock in a transaction dated Monday, August 25th. The shares were sold at an average price of $68.25, for a total value of $682,500.00. Following the sale, the director owned 30,665 shares of the company’s stock, valued at approximately $2,092,886.25. This represents a 24.59% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO James Eric Bjornholt sold 7,356 shares of Microchip Technology stock in a transaction dated Monday, August 25th. The shares were sold at an average price of $68.72, for a total transaction of $505,504.32. Following the transaction, the chief financial officer directly owned 30,010 shares of the company’s stock, valued at $2,062,287.20. This represents a 19.69% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 1.94% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of MCHP. Winnow Wealth LLC acquired a new stake in Microchip Technology during the 3rd quarter valued at $25,000. Root Financial Partners LLC bought a new stake in shares of Microchip Technology during the third quarter worth $28,000. Salomon & Ludwin LLC increased its stake in shares of Microchip Technology by 219.3% in the third quarter. Salomon & Ludwin LLC now owns 479 shares of the semiconductor company’s stock valued at $32,000 after buying an additional 329 shares in the last quarter. Quent Capital LLC bought a new position in shares of Microchip Technology in the third quarter valued at about $32,000. Finally, MCF Advisors LLC lifted its position in Microchip Technology by 211.2% during the 2nd quarter. MCF Advisors LLC now owns 473 shares of the semiconductor company’s stock worth $33,000 after buying an additional 321 shares in the last quarter. 91.51% of the stock is owned by institutional investors and hedge funds.

Microchip Technology Company Profile

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.