Microchip Technology (MCHP) – Investment Analysts’ Recent Ratings Updates

Microchip Technology (NASDAQ: MCHP) has recently received a number of price target changes and ratings updates:

• 11/7/2024 – Microchip Technology was downgraded by analysts at StockNews.com from a “hold” rating to a “sell” rating.
• 11/6/2024 – Microchip Technology had its price target lowered by analysts at Susquehanna from $95.00 to $90.00. They now have a “positive” rating on the stock.
• 11/6/2024 – Microchip Technology had its price target lowered by analysts at Piper Sandler from $100.00 to $85.00. They now have an “overweight” rating on the stock.
• 11/6/2024 – Microchip Technology had its price target lowered by analysts at KeyCorp from $100.00 to $95.00. They now have an “overweight” rating on the stock.
• 11/6/2024 – Microchip Technology had its “outperform” rating reaffirmed by analysts at Evercore ISI. They now have a $95.00 price target on the stock, down previously from $101.00.
• 11/6/2024 – Microchip Technology had its price target lowered by analysts at TD Cowen from $80.00 to $70.00. They now have a “hold” rating on the stock.
• 11/6/2024 – Microchip Technology had its price target lowered by analysts at Jefferies Financial Group Inc. from $100.00 to $90.00. They now have a “buy” rating on the stock.
• 11/6/2024 – Microchip Technology had its price target lowered by analysts at Citigroup Inc. from $92.00 to $82.00. They now have a “buy” rating on the stock.
• 11/6/2024 – Microchip Technology had its “buy” rating reaffirmed by analysts at Rosenblatt Securities. They now have a $90.00 price target on the stock.
• 11/6/2024 – Microchip Technology had its price target lowered by analysts at Needham & Company LLC from $96.00 to $85.00. They now have a “buy” rating on the stock.
• 10/21/2024 – Microchip Technology had its price target lowered by analysts at Susquehanna from $105.00 to $95.00. They now have a “positive” rating on the stock.
• 10/18/2024 – Microchip Technology was given a new $95.00 price target on by analysts at Mizuho.
• 10/17/2024 – Microchip Technology was upgraded by analysts at StockNews.com from a “sell” rating to a “hold” rating.

Microchip Technology Stock Performance

Shares of NASDAQ:MCHP opened at $66.69 on Monday. The company has a current ratio of 0.88, a quick ratio of 0.48 and a debt-to-equity ratio of 0.71. Microchip Technology Incorporated has a 1-year low of $62.63 and a 1-year high of $100.57. The stock has a market capitalization of $35.81 billion, a P/E ratio of 46.64 and a beta of 1.53. The business has a 50-day moving average price of $74.59 and a two-hundred day moving average price of $83.11.

Microchip Technology (NASDAQ:MCHP) last announced its quarterly earnings results on Tuesday, November 5th. The semiconductor company reported $0.46 earnings per share for the quarter, beating analysts’ consensus estimates of $0.43 by $0.03. The business had revenue of $1.16 billion for the quarter, compared to the consensus estimate of $1.15 billion. Microchip Technology had a net margin of 14.22% and a return on equity of 19.47%. Microchip Technology’s revenue for the quarter was down 48.4% on a year-over-year basis. During the same period last year, the company posted $1.54 EPS. Equities analysts predict that Microchip Technology Incorporated will post 1.38 earnings per share for the current year.

Microchip Technology Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 6th. Shareholders of record on Friday, November 22nd will be paid a $0.455 dividend. This is a positive change from Microchip Technology’s previous quarterly dividend of $0.45. This represents a $1.82 annualized dividend and a yield of 2.73%. The ex-dividend date of this dividend is Friday, November 22nd. Microchip Technology’s payout ratio is presently 127.27%.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in MCHP. Empowered Funds LLC lifted its stake in shares of Microchip Technology by 25.7% during the 3rd quarter. Empowered Funds LLC now owns 96,163 shares of the semiconductor company’s stock worth $7,721,000 after buying an additional 19,663 shares during the last quarter. Pinnacle Associates Ltd. boosted its holdings in shares of Microchip Technology by 50.0% during the third quarter. Pinnacle Associates Ltd. now owns 105,694 shares of the semiconductor company’s stock worth $8,486,000 after acquiring an additional 35,213 shares during the period. Swedbank AB acquired a new position in shares of Microchip Technology in the first quarter valued at approximately $1,079,000. Aigen Investment Management LP bought a new position in shares of Microchip Technology during the third quarter worth approximately $2,391,000. Finally, Mirae Asset Global Investments Co. Ltd. lifted its holdings in Microchip Technology by 12.0% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 870,072 shares of the semiconductor company’s stock worth $69,355,000 after purchasing an additional 93,464 shares during the last quarter. Institutional investors and hedge funds own 91.51% of the company’s stock.

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.