Microchip Technology (MCHP) Stock Forecast & Price Target

$66.69 +0.63 (+0.95%)

(As of 11/22/2024 ET)

Microchip Technology - Analysts' Recommendations and Stock Price Forecast (2024)

MarketBeat calculates consensus analyst ratings for stocks using the most recent rating from each Wall Street analyst that has rated a stock within the last twelve months. Each analyst's rating is normalized to a standardized rating score of 1 (sell), 2 (hold), 3 (buy) or 4 (strong buy). Analyst consensus ratings scores are calculated using the mean average of the number of normalized sell, hold, buy and strong buy ratings from Wall Street analysts. Each stock's consensus analyst rating is derived from its calculated consensus ratings score (0 to .5 = Strong Sell, .5 to 1 = Sell, 1 to 1.5 = Reduce, 1.5 to 2.5 = Hold, 2.5 to 3.0 = Moderate Buy, 3.0 to 3.5 = Buy, >3.5 = Strong Buy). MarketBeat's consensus price targets are a mean average of the most recent available price targets set by each analyst that has set a price target for the stock in the last twelve months. MarketBeat's consensus ratings and consensus price targets may differ from those calculated by other firms due to differences in methodology and available data.

Consensus Rating

Moderate Buy

Based on 19 Analyst Ratings

Sell
0

Hold
5

Buy
14

Based on 19 Wall Street analysts who have issued ratings for Microchip Technology in the last 12 months, the stock has a consensus rating of "Moderate Buy." Out of the 19 analysts, 5 have given a hold rating, and 14 have given a buy rating for MCHP.

Consensus Price Target

$92.00
37.95% Upside

According to the 19 analysts' twelve-month price targets for Microchip Technology, the average price target is $92.00. The highest price target for MCHP is $105.00, while the lowest price target for MCHP is $70.00. The average price target represents a forecasted upside of 37.95% from the current price of $66.69.

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MCHP Analyst Ratings Over Time

Type	Current Forecast 11/25/23 to 11/24/24	1 Month Ago 10/26/23 to 10/25/24	3 Months Ago 8/27/23 to 8/26/24	1 Year Ago 11/25/22 to 11/25/23
Strong Buy	0 Strong Buy rating(s)	0 Strong Buy rating(s)	0 Strong Buy rating(s)	1 Strong Buy rating(s)
Buy	14 Buy rating(s)	14 Buy rating(s)	15 Buy rating(s)	9 Buy rating(s)
Hold	5 Hold rating(s)	5 Hold rating(s)	4 Hold rating(s)	7 Hold rating(s)
Sell	0 Sell rating(s)	0 Sell rating(s)	0 Sell rating(s)	0 Sell rating(s)
Consensus Price Target	$92.00	$97.89	$99.95	$94.13
Forecasted Upside	37.95% Upside	28.32% Upside	24.47% Upside	13.05% Upside
Consensus Rating	Moderate Buy	Moderate Buy	Moderate Buy	Moderate Buy

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MCHP Analyst Recommendations By Month

The chart below shows how a company's ratings by analysts have changed over time. Each bar represents the previous year of ratings for that month. Within each bar, the sell ratings are shown in red, the hold ratings are shown in yellow, the buy ratings are shown in green, and the strong buy ratings are shown in dark green.

MCHP Price Targets by Month

The chart below shows how a company's share price and consensus price target have changed over time. The dark blue line represents the company's actual price. The lighter blue line represents the stock's consensus price target. The even lighter blue range in the background of the two lines represents the low price target and the high price target for each stock.

Microchip Technology Stock vs. The Competition

Type	Microchip Technology	Computer and Technology Companies	S&P 500
Consensus Rating Score	2.74	2.68	2.50
Consensus Rating	Moderate Buy	Moderate Buy	Moderate Buy
Predicted Upside	37.95% Upside	532.55% Upside	7.66% Upside
News Sentiment Rating	Positive News See Recent MCHP News	Positive News	Positive News

Recent Analyst Forecasts and Stock Ratings

Rating

Upside/Downside

Action

Time Frame

Start Date

End Date

Show

Export to Excel

Date	Brokerage	Analyst Name	Action	Rating	Price Target	Upside/Downside on Report Date
11/6/2024	Jefferies Financial Group 2 of 5 stars		Lower Target	Buy ➝ Buy	$100.00 ➝ $90.00	+22.17%
11/6/2024	Citigroup 3 of 5 stars		Lower Target	Buy ➝ Buy	$92.00 ➝ $82.00	+11.31%
11/6/2024	Evercore ISI 2 of 5 stars		Reiterated Rating	Outperform ➝ Outperform	$101.00 ➝ $95.00	+27.89%
11/6/2024	Susquehanna Subscribe to MarketBeat All Access for the recommendation accuracy rating		Lower Target	Positive ➝ Positive	$95.00 ➝ $90.00	+22.30%
11/6/2024	Rosenblatt Securities Subscribe to MarketBeat All Access for the recommendation accuracy rating		Reiterated Rating	Buy ➝ Buy	$90.00 ➝ $90.00	+19.86%
11/6/2024	Piper Sandler Subscribe to MarketBeat All Access for the recommendation accuracy rating	H. Kumar Subscribe to MarketBeat All Access for the recommendation accuracy rating	Lower Target	Overweight ➝ Overweight	$100.00 ➝ $85.00	+13.20%
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11/6/2024	KeyCorp Subscribe to MarketBeat All Access for the recommendation accuracy rating		Lower Target	Overweight ➝ Overweight	$100.00 ➝ $95.00	+26.51%
11/6/2024	Needham & Company LLC Subscribe to MarketBeat All Access for the recommendation accuracy rating		Lower Target	Buy ➝ Buy	$96.00 ➝ $85.00	+13.20%
11/6/2024	TD Cowen Subscribe to MarketBeat All Access for the recommendation accuracy rating		Lower Target	Hold ➝ Hold	$80.00 ➝ $70.00	-6.78%
10/18/2024	Mizuho Subscribe to MarketBeat All Access for the recommendation accuracy rating	Vijay Rakesh Subscribe to MarketBeat All Access for the recommendation accuracy rating	Set Target		$95.00	+23.25%
9/23/2024	Truist Financial Subscribe to MarketBeat All Access for the recommendation accuracy rating	W. Stein Subscribe to MarketBeat All Access for the recommendation accuracy rating	Downgrade	Buy ➝ Hold	$89.00 ➝ $80.00	+3.88%
8/2/2024	B. Riley Subscribe to MarketBeat All Access for the recommendation accuracy rating		Lower Target	Buy ➝ Buy	$110.00 ➝ $103.00	+31.61%
8/2/2024	JPMorgan Chase & Co. Subscribe to MarketBeat All Access for the recommendation accuracy rating		Lower Target	Overweight ➝ Overweight	$110.00 ➝ $100.00	+18.53%
8/2/2024	Bank of America Subscribe to MarketBeat All Access for the recommendation accuracy rating		Downgrade	Buy ➝ Neutral	$110.00 ➝ $90.00	+6.67%
7/11/2024	Morgan Stanley Subscribe to MarketBeat All Access for the recommendation accuracy rating		Downgrade	Overweight ➝ Equal Weight	$102.00 ➝ $100.00	+4.19%
5/7/2024	UBS Group Subscribe to MarketBeat All Access for the recommendation accuracy rating		Boost Target	Buy ➝ Buy	$95.00 ➝ $103.00	+11.09%
5/7/2024	The Goldman Sachs Group Subscribe to MarketBeat All Access for the recommendation accuracy rating		Boost Target	Neutral ➝ Neutral	$77.00 ➝ $88.00	-4.83%
5/1/2024	Stifel Nicolaus Subscribe to MarketBeat All Access for the recommendation accuracy rating		Boost Target	Buy ➝ Buy	$98.00 ➝ $102.00	+10.89%
1/18/2024	Wolfe Research Subscribe to MarketBeat All Access for the recommendation accuracy rating		Upgrade	Peer Perform ➝ Outperform	$105.00	+25.99%
8/4/2023	Wells Fargo & Company Subscribe to MarketBeat All Access for the recommendation accuracy rating		Boost Target	Equal Weight ➝ Equal Weight	$80.00 ➝ $90.00	+7.35%
2/3/2023	Credit Suisse Group Subscribe to MarketBeat All Access for the recommendation accuracy rating		Boost Target	Neutral	$85.00 ➝ $98.00	+17.93%
2/3/2023	Raymond James Subscribe to MarketBeat All Access for the recommendation accuracy rating		Boost Target	Strong-Buy	$90.00 ➝ $105.00	+24.22%

Analyst ratings data on MarketBeat is provided by Benzinga and other data providers. This page was last refreshed on Sunday at 10:31 PM ET.

Should I Buy Microchip Technology Stock? MCHP Pros and Cons Explained

These pros and cons were generated based on recent news and financial data from MarketBeat in order to provide readers with the fastest and most accurate insights. They were last updated on Wednesday, November 20, 2024. Please send any questions or comments about these Microchip Technology pros and cons to contact@marketbeat.com.

Microchip Technology
Bull Case

Here are some ways that investors could benefit from investing in Microchip Technology Incorporated:

Microchip Technology Incorporated recently reported earnings of $0.46 per share, exceeding the consensus estimate of $0.43, indicating strong financial performance.
The company has a solid market capitalization of approximately $35.23 billion, reflecting its significant presence in the semiconductor industry.
Microchip Technology Incorporated has increased its quarterly dividend to $0.455 per share, demonstrating a commitment to returning value to shareholders, with a current dividend yield of 2.77%.
Analysts have a consensus rating of "Moderate Buy" for the stock, with a target price of $92.00, suggesting potential upside for investors.
The stock is currently trading at $65.60, which may present a buying opportunity for investors looking for value in a fluctuating market.

Microchip Technology
Bear Case

Investors should be bearish about investing in Microchip Technology Incorporated for these reasons:

The company's revenue has decreased by 48.4% year-over-year, which raises concerns about its growth trajectory and market demand.
Recent analyst downgrades, including a reduction in price targets by firms like Truist Financial and Bank of America, indicate a cautious outlook on the stock's performance.
Microchip Technology Incorporated has a relatively high P/E ratio of 46.57, suggesting that the stock may be overvalued compared to its earnings.
The company has a debt-to-equity ratio of 0.71, which, while manageable, indicates that it relies on debt financing, potentially increasing financial risk.
Insider ownership is only 2.10%, which may suggest a lack of confidence from those closest to the company regarding its future performance.

MCHP Forecast - Frequently Asked Questions

: According to the research reports of 19 Wall Street equities research analysts, the average twelve-month stock price forecast for Microchip Technology is $92.00, with a high forecast of $105.00 and a low forecast of $70.00.
: 19 Wall Street analysts have issued "buy," "hold," and "sell" ratings for Microchip Technology in the last twelve months. There are currently 5 hold ratings and 14 buy ratings for the stock. The consensus among Wall Street analysts is that investors should "moderate buy" MCHP shares.
: According to analysts, Microchip Technology's stock has a predicted upside of 37.95% based on their 12-month stock forecasts.
: Over the previous 90 days, Microchip Technology's stock had 1 downgrade by analysts.
: Microchip Technology has been rated by research analysts at Citigroup, Evercore ISI, Jefferies Financial Group, KeyCorp, Mizuho, Needham & Company LLC, Piper Sandler, Rosenblatt Securities, Susquehanna, TD Cowen, and Truist Financial in the past 90 days.
: Analysts like Microchip Technology more than other "computer and technology" companies. The consensus rating score for Microchip Technology is 2.74 while the average consensus rating score for "computer and technology" companies is 2.68. Learn more on how MCHP compares to other companies.

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This page (NASDAQ:MCHP) was last updated on 11/24/2024 by MarketBeat.com Staff

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Microchip Technology (MCHP) Stock Forecast & Price Target