Microchip Technology (MCHP) Stock Forecast & Price Target

$77.49

-2.80 (-3.49%)

(As of 10/1/2024 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

$99.47
28.37% Upside

According to the 19 analysts' twelve-month price targets for Microchip Technology, the average price target is $99.47. The highest price target for MCHP is $115.00, while the lowest price target for MCHP is $80.00. The average price target represents a forecasted upside of 28.37% from the current price of $77.49.

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MCHP Analyst Ratings Over Time

Type	Current Forecast 10/2/23 to 10/1/24	1 Month Ago 9/2/23 to 9/1/24	3 Months Ago 7/4/23 to 7/3/24	1 Year Ago 10/2/22 to 10/2/23
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)	15 Buy rating(s)	14 Buy rating(s)	8 Buy rating(s)
Hold	5 Hold rating(s)	4 Hold rating(s)	4 Hold rating(s)	8 Hold rating(s)
Sell	0 Sell rating(s)	0 Sell rating(s)	0 Sell rating(s)	0 Sell rating(s)
Consensus Price Target	$99.47	$99.95	$101.06	$97.29
Forecasted Upside	28.37% Upside	21.65% Upside	7.99% Upside	24.15% 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	2.65	2.50
Consensus Rating	Moderate Buy	Moderate Buy	Hold
Predicted Upside	28.37% Upside	1,689.20% Upside	6.86% 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
9/23/2024	Truist Financial 2 of 5 stars	W. Stein Subscribe to MarketBeat All Access for the recommendation accuracy rating	Downgrade	Buy ➝ Hold	$89.00 ➝ $80.00	+3.88%
8/16/2024	Piper Sandler 2 of 5 stars	H. Kumar Subscribe to MarketBeat All Access for the recommendation accuracy rating	Upgrade	Neutral ➝ Overweight	$90.00 ➝ $100.00	+23.00%
8/5/2024	Needham & Company LLC 2 of 5 stars		Lower Target	Buy ➝ Buy	$100.00 ➝ $96.00	+31.04%
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	Citigroup Subscribe to MarketBeat All Access for the recommendation accuracy rating		Lower Target	Buy ➝ Buy	$104.00 ➝ $92.00	+17.56%
8/2/2024	Susquehanna Subscribe to MarketBeat All Access for the recommendation accuracy rating		Lower Target	Positive ➝ Positive	$115.00 ➝ $105.00	+24.45%
Get the Latest News and Ratings for MCHP and Related Stocks Enter your email address below to receive the latest news and analysts' ratings for Microchip Technology and its competitors with MarketBeat's FREE daily newsletter.
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	TD Cowen Subscribe to MarketBeat All Access for the recommendation accuracy rating		Lower Target	Hold	$90.00 ➝ $80.00	-5.18%
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%
7/31/2024	Rosenblatt Securities Subscribe to MarketBeat All Access for the recommendation accuracy rating		Reiterated Rating	Buy ➝ Buy	$100.00 ➝ $100.00	+13.37%
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%
5/24/2024	Mizuho Subscribe to MarketBeat All Access for the recommendation accuracy rating		Upgrade	Neutral ➝ Buy	$85.00 ➝ $115.00	+17.18%
5/13/2024	Jefferies Financial Group Subscribe to MarketBeat All Access for the recommendation accuracy rating		Initiated Coverage	Buy ➝ Buy	$100.00 ➝ $115.00	+25.68%
5/7/2024	KeyCorp Subscribe to MarketBeat All Access for the recommendation accuracy rating		Boost Target	Overweight ➝ Overweight	$90.00 ➝ $110.00	+18.64%
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%
4/16/2024	Evercore ISI Subscribe to MarketBeat All Access for the recommendation accuracy rating		Initiated Coverage	Outperform	$106.00	+23.69%
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 Tuesday at 10:26 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 Monday, September 30, 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's stock price is currently trading below its 50-day and 200-day simple moving averages, potentially presenting a buying opportunity as the stock may be undervalued.
The company has a strong return on equity of 28.33%, indicating efficient use of shareholder funds to generate profits.
Microchip Technology recently increased its quarterly dividend, signaling confidence in its financial stability and commitment to returning value to shareholders.
Institutional investors and hedge funds have been increasing their positions in Microchip Technology, reflecting positive sentiment and confidence in the company's future growth prospects.
Analysts have issued buy ratings on Microchip Technology, with an average target price above the current trading price, suggesting potential upside for investors.

Microchip Technology
Bear Case

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

Microchip Technology's quarterly revenue was down 45.8% compared to the same period last year, indicating a decline in sales performance that may impact future earnings.
Several Wall Street analysts have lowered their price targets on Microchip Technology, potentially signaling concerns about the company's growth prospects or market conditions.
The company's net margin of 20.80% is lower than some competitors in the semiconductor industry, suggesting potential challenges in maintaining profitability.
One research analyst has issued a sell rating on Microchip Technology, indicating a negative outlook on the stock's performance.
Microchip Technology's stock has been trading below its 200-day simple moving average, which could be seen as a bearish technical signal by some investors.

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 $99.47, with a high forecast of $115.00 and a low forecast of $80.00.
: 19 Wall Street equities research analysts have issued "buy," "hold," and "sell" ratings for Microchip Technology in the last year. There are currently 5 hold ratings and 14 buy ratings for the stock. The consensus among Wall Street equities research analysts is that investors should "moderate buy" MCHP shares.
: According to analysts, Microchip Technology's stock has a predicted upside of 28.37% based on their 12-month stock forecasts.
: Over the previous 90 days, Microchip Technology's stock had 3 downgrades and 1 upgrade by analysts.
: Microchip Technology has been rated by research analysts at B. Riley, Bank of America, Citigroup, JPMorgan Chase & Co., Morgan Stanley, 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 2.65. Learn more on how MCHP compares to other companies.

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This page (NASDAQ:MCHP) was last updated on 10/1/2024 by MarketBeat.com Staff

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