Brokerages Set Microchip Technology Incorporated (NASDAQ:MCHP) Price Target at $86.00

Shares of Microchip Technology Incorporated (NASDAQ:MCHP) have earned an average recommendation of “Moderate Buy” from the twenty-six brokerages that are currently covering the company, MarketBeat.com reports. Eight equities research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and three have issued a strong buy rating on the company. The average 1 year price target among analysts that have covered the stock in the last year is $86.00.

Several research firms recently issued reports on MCHP. Citigroup dropped their price target on shares of Microchip Technology from $92.00 to $91.00 and set a “buy” rating on the stock in a research note on Friday, February 6th. Piper Sandler upped their price objective on shares of Microchip Technology from $80.00 to $85.00 and gave the company an “overweight” rating in a research report on Thursday, January 15th. BNP Paribas Exane upgraded Microchip Technology from a “neutral” rating to an “outperform” rating and set a $90.00 target price for the company in a research note on Thursday, January 22nd. JPMorgan Chase & Co. lifted their target price on Microchip Technology from $85.00 to $95.00 and gave the stock an “overweight” rating in a research report on Friday, February 6th. Finally, Wolfe Research set a $85.00 price target on Microchip Technology in a research note on Tuesday, January 6th.

Microchip Technology Price Performance

Shares of NASDAQ MCHP opened at $65.63 on Friday. The company has a market capitalization of $35.52 billion, a price-to-earnings ratio of -226.31, a PEG ratio of 1.62 and a beta of 1.45. The company has a debt-to-equity ratio of 0.82, a current ratio of 2.16 and a quick ratio of 1.16. Microchip Technology has a 1-year low of $34.13 and a 1-year high of $83.35. The business has a 50-day moving average of $72.95 and a 200-day moving average of $66.59.

Microchip Technology (NASDAQ:MCHP) last released its quarterly earnings results on Thursday, February 5th. The semiconductor company reported $0.44 earnings per share for the quarter, topping analysts’ consensus estimates of $0.43 by $0.01. Microchip Technology had a positive return on equity of 7.16% and a negative net margin of 1.57%.The firm had revenue of $1.19 billion during the quarter, compared to analysts’ expectations of $1.19 billion. During the same quarter in the prior year, the business earned $0.20 EPS. Microchip Technology’s quarterly revenue was up 15.6% compared to the same quarter last year. Microchip Technology has set its Q4 2026 guidance at 0.480-0.520 EPS. On average, equities analysts anticipate that Microchip Technology will post 1.03 EPS for the current fiscal year.

Microchip Technology Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, March 10th. Investors of record on Monday, February 23rd were issued a $0.455 dividend. The ex-dividend date of this dividend was Monday, February 23rd. This represents a $1.82 annualized dividend and a yield of 2.8%. Microchip Technology’s dividend payout ratio is currently -627.59%.

Insiders Place Their Bets

In other Microchip Technology news, CEO Steve Sanghi sold 98,814 shares of the firm’s stock in a transaction on Wednesday, January 28th. The shares were sold at an average price of $80.55, for a total transaction of $7,959,467.70. Following the completion of the transaction, the chief executive officer directly owned 9,922,319 shares of the company’s stock, valued at $799,242,795.45. This trade represents a 0.99% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 1.94% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Microchip Technology

A number of institutional investors have recently modified their holdings of the stock. Winnow Wealth LLC acquired a new position in Microchip Technology in the third quarter valued at approximately $25,000. Root Financial Partners LLC acquired a new stake in shares of Microchip Technology during the 3rd quarter worth approximately $28,000. EFG International AG acquired a new stake in shares of Microchip Technology during the 4th quarter worth approximately $29,000. Miller Capital Partners Inc. bought a new stake in shares of Microchip Technology in the 4th quarter worth approximately $29,000. Finally, Salomon & Ludwin LLC lifted its holdings in shares of Microchip Technology by 219.3% in the 3rd 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 last quarter. Institutional investors and hedge funds own 91.51% of the company’s stock.

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.