BofA Securities downgraded Microchip from Buy to Neutral and set a new price target of $90.00 from $110.00 previously
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| Date | Price Target | Rating | Analyst |
|---|---|---|---|
| 3/4/2025 | $50.00 → $60.00 | Hold | TD Cowen |
| 1/24/2025 | $93.00 → $85.00 | Buy | B. Riley Securities |
| 12/16/2024 | $80.00 → $65.00 | Neutral → Underperform | BofA Securities |
| 11/6/2024 | $80.00 → $70.00 | Hold | TD Cowen |
| 9/23/2024 | $89.00 → $80.00 | Buy → Hold | Truist |
| 8/16/2024 | $90.00 → $100.00 | Neutral → Overweight | Piper Sandler |
| 8/2/2024 | $90.00 → $80.00 | Hold | TD Cowen |
| 8/2/2024 | $110.00 → $90.00 | Buy → Neutral | BofA Securities |
CHANDLER, Ariz., April 15, 2025 (GLOBE NEWSWIRE) -- As a leading supplier to the aerospace and defense market, Microchip is committed to providing innovative and robust products that are designed for mission-critical performance in the most demanding environments. Microchip Technology (NASDAQ:MCHP) today announces the release of its BR235 and BR235D series of 25A QPL hermetically sealed electromechanical power relays that meet the requirements of MIL-PRF-83536 specification and ISO-9001 certification. This new series of power relays is specifically engineered for mission-critical commercial aviation, defense and space applications. These devices offer supply certainty coupled with global t
CHANDLER, Ariz., April 10, 2025 (GLOBE NEWSWIRE) -- The rapid integration of AI into industrial, computing and data center applications is fueling a growing demand for more efficient and advanced power management solutions. Microchip Technology (NASDAQ:MCHP) today announces the MCP16701, a Power Management Integrated Circuit (PMIC) designed to meet the needs of high-performance MPU and FPGA designers. The MCP16701 integrates eight 1.5A buck converters that can be paralleled, four 300 mA internal Low Dropout Voltage Regulators (LDOs) and a controller to drive external MOSFETs. This highly integrated device can result in a 48% area reduction with less than 60% of the component count of a
CHANDLER, Ariz., March 24, 2025 (GLOBE NEWSWIRE) -- Microchip Technology's (NASDAQ:MCHP) PolarFire® System on Chip (SoC) FPGAs have earned the Automotive Electronics Council (AEC)-Q100 qualification. The AEC-Q standards are a guideline for integrated circuits, using stress tests to measure the reliability of electronic components in vehicles. AEC-Q100 qualified devices have gone through rigorous testing to demonstrate they can withstand extreme conditions in automotive applications. The PolarFire SoC FPGA has been qualified for automotive Grade 1 temperatures, -40°C to 125°C. PolarFire SoC FPGAs feature an embedded 64-bit, quad-core RISC-V® architecture capable of running Linux® and real
Net sales of $1.026 billion, down 11.8% sequentially and down 41.9% from the year ago quarter. Our updated guidance provided on December 2, 2024 was net sales of $1.025 billion.On a GAAP basis: gross profit of 54.7%; operating income of $30.9 million and 3.0% of net sales; net loss of $53.6 million; and loss of $0.10 per diluted share. Our guidance provided on November 5, 2024 was for GAAP earnings (loss) per share of $(0.04) to $0.03 per diluted share. On a Non-GAAP basis: gross profit of 55.4%; operating income of $210.7 million and 20.5% of net sales; net income of $107.3 million; and EPS of $0.20 per diluted share. Our updated guidance provided on December 2, 2024 was for No
CHANDLER, Ariz., Feb. 06, 2025 (GLOBE NEWSWIRE) -- (NASDAQ:MCHP) – Microchip Technology Incorporated, a leading provider of smart, connected, and secure embedded control solutions, today announced that its Board of Directors declared a quarterly cash dividend on its common stock of 45.5 cents per share. The dividend is payable on March 7, 2025, to stockholders of record on February 24, 2025. Microchip initiated quarterly cash dividend payments in the third quarter of fiscal year 2003 and has increased its dividend 83 times since then. About Microchip: Microchip Technology Incorporated is a leading provider of smart, connected and secure embedded control solutions. Its easy-to-use develop
CHANDLER, Ariz., Nov. 05, 2024 (GLOBE NEWSWIRE) -- (NASDAQ:MCHP) – Microchip Technology Incorporated, a leading provider of smart, connected, and secure embedded control solutions, today announced that its Board of Directors declared a quarterly cash dividend on its common stock of 45.5 cents per share. The dividend is payable on December 6, 2024, to stockholders of record on November 22, 2024. Microchip initiated quarterly cash dividend payments in the third quarter of fiscal year 2003 and has increased its dividend 83 times since then. About Microchip: Microchip Technology Incorporated is a leading provider of smart, connected and secure embedded control solutions. Its easy-to-use deve
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TD Cowen reiterated coverage of Microchip with a rating of Hold and set a new price target of $60.00 from $50.00 previously
B. Riley Securities reiterated coverage of Microchip with a rating of Buy and set a new price target of $85.00 from $93.00 previously
BofA Securities downgraded Microchip from Neutral to Underperform and set a new price target of $65.00 from $80.00 previously
CHANDLER, Ariz., Feb. 04, 2025 (GLOBE NEWSWIRE) -- Microchip Technology Incorporated, a leading provider of smart, connected and secure embedded control solutions, today announced that Victor Peng, former President of Advanced Micro Devices, Inc. (AMD), will join the Board of Directors of Microchip effective February10, 2024. Regarding Mr. Peng's appointment to the board, Microchip's President and CEO, Steve Sanghi, said, "Victor most recently served as the President of AMD, a publicly held company that designs and manufactures hardware for high-performance computing. Prior to that, he served Xilinx for 14 years, most recently holding roles of president, CEO, board member. With over 40
CHANDLER, Ariz., June 03, 2024 (GLOBE NEWSWIRE) -- Critical infrastructure communication networks require highly accurate and resilient synchronization and timing, but over time these systems age out and must be migrated to a more modern architecture. Microchip Technology (NASDAQ:MCHP) today announces the new TimeProvider® XT Extension System, a fan-out shelf used with redundant TimeProvider 4100 grandmasters to migrate legacy BITS/SSU equipment to a modular and resilient architecture. The TimeProvider XT provides operators with a clear path to replace existing SONET/SDH frequency synchronization equipment while adding timing and phase, essential for 5G networks. As an accessory device to
Cohu, Inc. (NASDAQ:COHU), a global leader in equipment and services optimizing semiconductor manufacturing yield and productivity, today announced that Karen M. Rapp has been appointed to the Cohu Board of Directors, effective today. Ms. Rapp brings to Cohu's Board of Directors extensive experience in corporate development, financial management, information technology and public company governance. After serving for six years as Executive Vice President and Chief Financial Officer, Ms. Rapp retired in May 2023 from National Instruments Corp., a leading test and measurement instrument and software company. Previously, she was Senior Vice President of Corporate Development at NXP Semiconduc