Microchip Technology - MCHP Stock Forecast, Price & News

21 Wall Street analysts have issued "buy," "hold," and "sell" ratings for Microchip Technology in the last twelve months. There are currently 5 hold ratings, 15 buy ratings and 1 strong buy rating for the stock. The consensus among Wall Street analysts is that investors should "buy" MCHP shares.
View MCHP analyst ratings or view top-rated stocks.

21 Wall Street research analysts have issued 1 year price targets for Microchip Technology's shares. Their MCHP share price forecasts range from $72.00 to $125.00. On average, they expect the company's share price to reach $92.73 in the next twelve months. This suggests a possible upside of 8.7% from the stock's current price.
View analysts price targets for MCHP or view top-rated stocks among Wall Street analysts.

Microchip Technology's stock was trading at $70.25 at the beginning of 2023. Since then, MCHP shares have increased by 21.5% and is now trading at $85.34.
View the best growth stocks for 2023 here.

Microchip Technology saw a decline in short interest in the month of January. As of January 15th, there was short interest totaling 13,600,000 shares, a decline of 13.4% from the December 31st total of 15,700,000 shares. Based on an average daily trading volume, of 4,770,000 shares, the short-interest ratio is currently 2.9 days.
View Microchip Technology's Short Interest.

The company is scheduled to release its next quarterly earnings announcement on Monday, May 8th 2023.
View our MCHP earnings forecast.

Microchip Technology Incorporated (NASDAQ:MCHP) announced its quarterly earnings data on Thursday, November, 4th. The semiconductor company reported $1.07 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.06 by $0.01. The semiconductor company earned $1.65 billion during the quarter, compared to analysts' expectations of $1.65 billion. Microchip Technology had a net margin of 24.14% and a trailing twelve-month return on equity of 47.90%. The business's revenue for the quarter was up 26.0% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.69 EPS.
Read the conference call transcript.

Microchip Technology declared a quarterly dividend on Thursday, February 2nd. Stockholders of record on Tuesday, February 21st will be paid a dividend of $0.358 per share on Tuesday, March 7th. This represents a $1.43 dividend on an annualized basis and a dividend yield of 1.68%. This is a positive change from the stock's previous quarterly dividend of $0.33.
Read our dividend analysis for MCHP.

Microchip Technology (NASDAQ:MCHP) pays an annual dividend of $1.31 per share and currently has a dividend yield of 1.62%. The company has been increasing its dividend for 19 consecutive years, indicating the company has a strong committment to maintain and grow its dividend. The dividend payout ratio is 40.06%. This payout ratio is at a healthy, sustainable level, below 75%. Based on earnings estimates, MCHP will have a dividend payout ratio of 23.56% next year. This indicates that the company will be able to sustain or increase its dividend.
Read our dividend analysis for MCHP.

Microchip Technology updated its fourth quarter 2023 earnings guidance on Thursday, February, 2nd. The company provided earnings per share guidance of $1.61-$1.63 for the period, compared to the consensus estimate of $1.58. The company issued revenue guidance of $2.19 billion-$2.26 billion, compared to the consensus revenue estimate of $2.19 billion.

534 employees have rated Microchip Technology Chief Executive Officer Steve Sanghi on Glassdoor.com. Steve Sanghi has an approval rating of 90% among the company's employees.

Based on aggregate information from My MarketBeat watchlists, some companies that other Microchip Technology investors own include NVIDIA (NVDA), Micron Technology (MU), Intel (INTC), QUALCOMM (QCOM), Advanced Micro Devices (AMD), Alibaba Group (BABA), Cisco Systems (CSCO), Applied Materials (AMAT), Lam Research (LRCX) and Broadcom (AVGO).

Microchip Technology trades on the NASDAQ under the ticker symbol "MCHP."

Microchip Technology's stock is owned by a number of institutional and retail investors. Top institutional investors include Coho Partners Ltd. (0.68%), Sumitomo Mitsui Trust Holdings Inc. (0.51%), Allspring Global Investments Holdings LLC (0.47%), Mizuho Markets Americas LLC (0.00%), Fenimore Asset Management Inc. (0.24%) and Bank of Montreal Can (0.14%). Insiders that own company stock include Ganesh Moorthy, James Eric Bjornholt, John P Sexton, Karlton D Johnson, Karlton D Johnson, Matthew W Chapman, Mitchell R Little, Richard J Simoncic, Stephen V Drehobl, Steve Sanghi and Wade F Meyercord.
View institutional ownership trends.

Shares of MCHP stock can be purchased through any online brokerage account. Popular online brokerages with access to the U.S. stock market include WeBull, Vanguard Brokerage Services, TD Ameritrade, E*TRADE, Robinhood, Fidelity, and Charles Schwab.
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One share of MCHP stock can currently be purchased for approximately $85.34.

Microchip Technology (NASDAQ:MCHP) has a market capitalization of $46.94 billion and generates $6.82 billion in revenue each year. The semiconductor company earns $1.29 billion in net income (profit) each year or $3.27 on an earnings per share basis.

The company employs 21,000 workers across the globe.

Microchip Technology's mailing address is 2355 W CHANDLER BLVD, CHANDLER AZ, 85224. The official website for the company is www.microchip.com. The semiconductor company can be reached via phone at (480) 792-7200, via email at ir@microchip.com, or via fax at 480-899-9210.