Microchip Technology (NASDAQ:MCHP) Research Coverage Started at BMO Capital Markets

BMO Capital Markets began coverage on shares of Microchip Technology (NASDAQ:MCHP) in a report issued on Friday morning, MarketBeat.com reports. The firm issued an outperform rating and a $95.00 price objective on the semiconductor company’s stock.

Other equities research analysts also recently issued reports about the stock. Citigroup reduced their price objective on shares of Microchip Technology from $113.00 to $95.00 and set a “buy” rating for the company in a research report on Friday, August 7th. JPMorgan Chase & Co. lifted their target price on shares of Microchip Technology from $95.00 to $120.00 and gave the stock an “overweight” rating in a research report on Friday, May 8th. Barclays boosted their target price on Microchip Technology from $80.00 to $105.00 and gave the stock an “equal weight” rating in a research note on Monday, May 11th. Rosenblatt Securities reaffirmed a “buy” rating and issued a $120.00 target price on shares of Microchip Technology in a report on Friday, August 7th. Finally, Weiss Ratings upgraded Microchip Technology from a “hold (c-)” rating to a “hold (c)” rating in a report on Tuesday, August 11th. Three analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and eight have given a Hold rating to the stock. According to data from MarketBeat.com, Microchip Technology currently has a consensus rating of “Moderate Buy” and a consensus price target of $98.67.

Microchip Technology Price Performance

Shares of NASDAQ:MCHP opened at $76.08 on Friday. The company has a current ratio of 1.92, a quick ratio of 1.11 and a debt-to-equity ratio of 0.83. The stock’s fifty day simple moving average is $84.29 and its two-hundred day simple moving average is $81.51. Microchip Technology has a 1-year low of $48.52 and a 1-year high of $105.91. The stock has a market cap of $41.31 billion, a PE ratio of 113.55, a price-to-earnings-growth ratio of 0.53 and a beta of 1.76.

Microchip Technology (NASDAQ:MCHP) last posted its quarterly earnings data on Thursday, August 6th. The semiconductor company reported $0.76 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.70 by $0.06. The firm had revenue of $1.48 billion for the quarter, compared to the consensus estimate of $1.46 billion. Microchip Technology had a net margin of 9.34% and a return on equity of 14.97%. The business’s revenue for the quarter was up 38.0% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.27 EPS. Microchip Technology has set its Q2 2027 guidance at 0.910-0.950 EPS. As a group, analysts forecast that Microchip Technology will post 3.16 EPS for the current fiscal year.

Microchip Technology Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, September 9th. Investors of record on Monday, August 24th will be paid a dividend of $0.455 per share. This represents a $1.82 dividend on an annualized basis and a dividend yield of 2.4%. The ex-dividend date is Monday, August 24th. Microchip Technology’s dividend payout ratio is presently 271.64%.

Insider Buying and Selling

In other Microchip Technology news, COO Richard J. Simoncic sold 5,000 shares of the business’s stock in a transaction on Thursday, June 4th. The shares were sold at an average price of $97.52, for a total transaction of $487,600.00. Following the sale, the chief operating officer owned 130,508 shares of the company’s stock, valued at $12,727,140.16. The trade was a 3.69% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO James Eric Bjornholt sold 837 shares of the stock in a transaction on Monday, August 17th. The stock was sold at an average price of $80.26, for a total value of $67,177.62. Following the sale, the chief financial officer owned 30,960 shares in the company, valued at approximately $2,484,849.60. This represents a 2.63% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders sold 8,837 shares of company stock valued at $847,338. Company insiders own 1.79% of the company’s stock.

Institutional Trading of Microchip Technology

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Norges Bank bought a new stake in Microchip Technology during the 4th quarter worth approximately $664,564,000. Barrow Hanley Mewhinney & Strauss LLC purchased a new stake in Microchip Technology in the 2nd quarter worth approximately $537,423,000. Barclays PLC lifted its stake in Microchip Technology by 66.5% in the 4th quarter. Barclays PLC now owns 13,996,883 shares of the semiconductor company’s stock worth $891,881,000 after purchasing an additional 5,590,210 shares in the last quarter. Legal & General Group Plc bought a new position in Microchip Technology in the 2nd quarter valued at $312,597,000. Finally, Rafferty Asset Management LLC boosted its holdings in Microchip Technology by 41.0% in the 2nd quarter. Rafferty Asset Management LLC now owns 6,203,762 shares of the semiconductor company’s stock valued at $436,559,000 after purchasing an additional 1,803,945 shares during the period. 91.51% of the stock is currently owned by institutional investors.

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.