TD Cowen Cuts Microchip Technology (NASDAQ:MCHP) Price Target to $60.00

Microchip Technology (NASDAQ:MCHP) had its price objective trimmed by TD Cowen from $65.00 to $60.00 in a research report sent to investors on Friday, Marketbeat Ratings reports. The brokerage currently has a hold rating on the semiconductor company’s stock.

MCHP has been the topic of several other research reports. Weiss Ratings restated a “sell (d+)” rating on shares of Microchip Technology in a report on Wednesday, October 8th. Susquehanna upped their price target on shares of Microchip Technology from $60.00 to $90.00 and gave the stock a “positive” rating in a research report on Tuesday, July 22nd. The Goldman Sachs Group initiated coverage on shares of Microchip Technology in a research report on Thursday, July 10th. They issued a “buy” rating and a $88.00 price objective for the company. Needham & Company LLC reduced their target price on shares of Microchip Technology from $77.00 to $73.00 and set a “buy” rating on the stock in a research report on Friday. Finally, Wells Fargo & Company started coverage on shares of Microchip Technology in a research note on Monday, September 15th. They set an “equal weight” rating and a $60.00 price target on the stock. One investment analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, seven have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, Microchip Technology currently has an average rating of “Moderate Buy” and a consensus price target of $73.47.

Microchip Technology Price Performance

NASDAQ:MCHP traded down $0.33 on Friday, reaching $55.95. The stock had a trading volume of 3,845,186 shares, compared to its average volume of 9,674,531. The company has a quick ratio of 1.33, a current ratio of 2.31 and a debt-to-equity ratio of 0.80. The company has a market capitalization of $30.19 billion, a P/E ratio of -164.62, a price-to-earnings-growth ratio of 1.79 and a beta of 1.57. Microchip Technology has a 1-year low of $34.13 and a 1-year high of $77.20. The stock has a fifty day moving average price of $64.24 and a 200-day moving average price of $64.41.

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 company had revenue of $1.14 billion during the quarter, compared to analysts’ expectations 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 quarterly revenue was down 2.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.46 earnings per share. 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 Announces Dividend

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

Insider Activity

In other Microchip Technology news, Director Matthew W. Chapman sold 10,000 shares of the stock in a transaction dated Monday, August 25th. The stock was sold at an average price of $68.25, for a total value of $682,500.00. Following the transaction, 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 ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO James Eric Bjornholt sold 7,356 shares of the business’s stock in a transaction dated Monday, August 25th. The stock was sold at an average price of $68.72, for a total value of $505,504.32. Following the transaction, the chief financial officer owned 30,010 shares of the company’s stock, valued at $2,062,287.20. The trade was a 19.69% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Corporate insiders own 1.94% of the company’s stock.

Institutional Investors Weigh In On Microchip Technology

Hedge funds have recently bought and sold shares of the company. Winnow Wealth LLC bought a new stake in Microchip Technology during the 3rd quarter worth approximately $25,000. Root Financial Partners LLC acquired a new position in shares of Microchip Technology during the third quarter worth about $28,000. Salomon & Ludwin LLC grew its holdings in shares of 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 buying an additional 329 shares in the last quarter. Quent Capital LLC acquired a new stake in Microchip Technology in the 3rd quarter valued at approximately $32,000. Finally, MCF Advisors LLC lifted its stake in 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 acquiring an additional 321 shares in the last quarter. 91.51% of the stock is currently 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.