Analysts Set Microchip Technology Incorporated (NASDAQ:MCHP) Target Price at $77.11

Microchip Technology Incorporated (NASDAQ:MCHP) has earned an average rating of “Moderate Buy” from the nineteen research firms that are currently covering the company, Marketbeat reports. One research analyst has rated the stock with a sell rating, four have assigned a hold rating, thirteen have given a buy rating and one has issued a strong buy rating on the company. The average twelve-month price target among brokers that have updated their coverage on the stock in the last year is $77.11.

Several research firms have weighed in on MCHP. Piper Sandler restated an “overweight” rating and issued a $65.00 price target (down from $85.00) on shares of Microchip Technology in a research note on Friday, February 7th. StockNews.com downgraded Microchip Technology from a “hold” rating to a “sell” rating in a research note on Monday, February 10th. Rosenblatt Securities reaffirmed a “buy” rating and set a $90.00 price objective on shares of Microchip Technology in a report on Thursday, February 6th. B. Riley reaffirmed a “buy” rating and set a $75.00 price objective (down from $85.00) on shares of Microchip Technology in a report on Friday, February 7th. Finally, Susquehanna decreased their price objective on Microchip Technology from $95.00 to $90.00 and set a “positive” rating on the stock in a report on Wednesday, November 6th.

Microchip Technology Trading Up 9.9 %

Shares of NASDAQ:MCHP opened at $63.59 on Thursday. Microchip Technology has a 12-month low of $50.21 and a 12-month high of $100.57. The company has a current ratio of 2.25, a quick ratio of 1.23 and a debt-to-equity ratio of 1.12. The company has a market cap of $34.20 billion, a PE ratio of 113.55 and a beta of 1.50. The stock has a 50 day moving average of $56.58 and a 200 day moving average of $68.22.

Microchip Technology (NASDAQ:MCHP) last posted its quarterly earnings results on Thursday, February 6th. The semiconductor company reported $0.13 earnings per share for the quarter, missing the consensus estimate of $0.28 by ($0.15). Microchip Technology had a return on equity of 12.62% and a net margin of 6.49%. As a group, equities research analysts expect that Microchip Technology will post 1.03 EPS for the current year.

Microchip Technology Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 7th. Stockholders of record on Monday, February 24th will be given a dividend of $0.455 per share. The ex-dividend date is Monday, February 24th. This represents a $1.82 annualized dividend and a dividend yield of 2.86%. Microchip Technology’s dividend payout ratio (DPR) is 325.00%.

Institutional Trading of Microchip Technology

Institutional investors and hedge funds have recently made changes to their positions in the business. Prospera Private Wealth LLC bought a new stake in shares of Microchip Technology during the third quarter worth $29,000. Peterson Financial Group Inc. bought a new stake in shares of Microchip Technology during the third quarter worth $34,000. Truvestments Capital LLC bought a new stake in shares of Microchip Technology during the third quarter worth $34,000. Mainstream Capital Management LLC bought a new stake in shares of Microchip Technology during the fourth quarter worth $26,000. Finally, Rakuten Securities Inc. increased its stake in shares of Microchip Technology by 309.5% during the fourth quarter. Rakuten Securities Inc. now owns 475 shares of the semiconductor company’s stock valued at $27,000 after buying an additional 359 shares during the period. 91.51% of the stock is currently owned by institutional investors.

About Microchip Technology

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.