Truist downgraded Microchip from Buy to Hold and set a new price target of $80.00 from $89.00 previously
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| Date | Price Target | Rating | Analyst |
|---|---|---|---|
| 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 |
| 7/11/2024 | $102.00 → $100.00 | Overweight → Equal-Weight | Morgan Stanley |
| 5/24/2024 | $85.00 → $115.00 | Neutral → Buy | Mizuho |
| 5/13/2024 | $100.00 → $115.00 | Buy | Jefferies |
4 - MICROCHIP TECHNOLOGY INC (0000827054) (Issuer)
4 - MICROCHIP TECHNOLOGY INC (0000827054) (Issuer)
4 - MICROCHIP TECHNOLOGY INC (0000827054) (Issuer)
CHANDLER, Ariz., Nov. 18, 2024 (GLOBE NEWSWIRE) -- (NASDAQ:MCHP) – Microchip Technology Incorporated, a leading provider of smart, connected, and secure embedded control solutions, today announced that Ganesh Moorthy is retiring as Chief Executive Officer, President and as a member of the Board of Directors in connection with his 65th birthday at the end of November. The Board has appointed Steve Sanghi as interim Chief Executive Officer and President effective today. Mr. Sanghi will remain as Chair of the Board. "On behalf of the entire Board, we thank Ganesh for his service to Microchip over the past 23 years and we wish him well with his retirement. He has been a key member of our mana
CHANDLER, Ariz., Nov. 14, 2024 (GLOBE NEWSWIRE) -- To enable developers building artificial intelligence (AI)-driven sensor processing systems, Microchip Technology (NASDAQ:MCHP) has released its PolarFire® FPGA Ethernet Sensor Bridge that works with the NVIDIA Holoscan sensor processing platform. PolarFire FPGAs enable multi-protocol support, and this first solution to be released as part of Microchip's platform is compatible with MIPI® CSI-2®-based sensors and the MIPI D-PHY℠ physical layer. Future solutions will support a wide range of sensors with different interfaces, including SLVS-EC™ 2.0, 12G SDI, CoaXPress® 2.0 and JESD204B. The platform allows designers to leverage the power of
CHANDLER, Ariz., Nov. 12, 2024 (GLOBE NEWSWIRE) -- Power components are evolving to meet the increasing demands for higher efficiency, smaller size and greater performance in power electronic systems. To provide system designers with a wide range of power solutions, Microchip Technology (NASDAQ:MCHP) today announces its portfolio of IGBT 7 devices offered in different packages, multiple topologies, and current and voltage ranges. Featuring increased power capability, lower power losses and compact device sizes, this new portfolio is designed to meet high-growth market segments such as sustainability, E-Mobility and data centers. These high-performance IGBT 7 devices are key buildi
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
Net sales of $1.164 billion, down 6.2% sequentially and down 48.4% from the year ago quarter. The midpoint of our guidance provided on August 1, 2024 was net sales of $1.150 billion.Revenue, gross profit and non-GAAP gross profit were positively impacted by a $13.3 million legal settlement. This settlement also positively impacted GAAP and non-GAAP EPS by $0.02 per diluted share.On a GAAP basis: gross profit of 57.4%; operating income of $146.6 million and 12.6% of net sales; net income of $78.4 million; and EPS of $0.14 per diluted share. Our guidance provided on August 1, 2024 was for GAAP EPS of $0.10 to $0.14 per diluted share. On a Non-GAAP basis: gross profit of 59.5%; operating income
Net sales of $1.241 billion, down 6.4% sequentially and down 45.8% from the year ago quarter. The midpoint of our guidance provided on May 6, 2024 was net sales of $1,240 billion.On a GAAP basis: gross profit of 59.4%; operating income of $219.1 million and 17.7% of net sales; net income of $129.3 million; and EPS of $0.24 per diluted share. Our guidance provided on May 6, 2024 was for GAAP EPS of $0.19 to $0.24 per diluted share. On a Non-GAAP basis: gross profit of 59.9%; operating income of $390.5 million and 31.5% of net sales; net income of $289.9 million; and EPS of $0.53 per diluted share. Our guidance provided on May 6, 2024 was for Non-GAAP EPS of $0.48 to $0.56 per diluted share.Re
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SC 13G/A - MICROCHIP TECHNOLOGY INC (0000827054) (Subject)
SC 13G/A - MICROCHIP TECHNOLOGY INC (0000827054) (Subject)
Microchip Technology (NASDAQ:MCHP) has outperformed the market over the past 20 years by 1.12% on an annualized basis producing an average annual return of 9.37%. Currently, Microchip Technology has a market capitalization of $48.04 billion. Buying $1000 In MCHP: If an investor had bought $1000 of MCHP stock 20 years ago, it would be worth $6,042.80 today based on a price of $89.55 for MCHP at the time of writing. Microchip Technology's Performance Over Last 20 Years Finally -- what's the point of all this? The key insight to take from this article is to note how much of a difference compounded returns can make in your cash growth over a period of time. This article was generated by Benzi
Cantor Fitzgerald analyst C J Muse reiterated NXP Semiconductors (NASDAQ:NXPI) with an Overweight and a $350 price target. On Monday, NXP Semiconductors reported second-quarter revenue decreased 5% year-over-year to $3.127 billion, beating analyst consensus estimates of $3.125 billion. The company reported adjusted EPS of $3.20, lagging the analyst consensus estimates of $3.21. NXP Semiconductors expects third-quarter revenue of $3.15 billion—$3.35 billion, compared to consensus estimates of $3.35 billion. The company projects third-quarter adjusted EPS of $3.21 – $3.63, compared to analyst estimates of $3.56. Muse acknowledged the company’s worse-than-expected in-line second-quarte
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
CHANDLER, Ariz., April 11, 2024 (GLOBE NEWSWIRE) -- Microchip Technology Inc. (NASDAQ:MCHP) today announces the completed acquisition of Seoul, Korea-based VSI Co. Ltd., an industry pioneer in providing high-speed, asymmetric, camera, sensor and display connectivity technologies and products based on the Automotive SerDes Alliance (ASA) open standard for in-vehicle networking (IVN). The terms of the transaction are not disclosed. The market size of automotive radar, camera and LiDAR modules is expected to grow by greater than two times between 2022 to 2028 to $27B in revenue, according to Yole Group1. This anticipated growth is driven by the increased adoption of Advanced Driver Assistan
8-K - MICROCHIP TECHNOLOGY INC (0000827054) (Filer)
8-K - MICROCHIP TECHNOLOGY INC (0000827054) (Filer)
S-8 - MICROCHIP TECHNOLOGY INC (0000827054) (Filer)
TD Cowen reiterated coverage of Microchip with a rating of Hold and set a new price target of $70.00 from $80.00 previously
Truist downgraded Microchip from Buy to Hold and set a new price target of $80.00 from $89.00 previously
Piper Sandler upgraded Microchip from Neutral to Overweight and set a new price target of $100.00 from $90.00 previously