--- title: "Thirteen banks cut Microchip targets, none dropped Buy; consensus sits 43% above $60.33" description: "Almost none of the banks withdrew Buy ratings while cutting, so the street now says the next quarters are smaller but the business is intact. Holders of the $5.6 billion-a-year analog chipmaker, and every non-AI chip name priced like it, carry the question of whether the Buy column or the tape is early." publisher: "The Inference" section: "Chips" published: 2026-11-11T15:09:27.493Z modified: 2026-11-11T15:09:27.493Z canonical: https://theinference.org/article/thirteen-banks-cut-microchip-technology-targets-none-dropped-buy-consensus-sits-43-above-60-33 language: en keywords: "Analyst Calls, Semiconductors, Stock Moves, Price Targets" --- # Thirteen banks cut Microchip targets, none dropped Buy; consensus sits 43% above $60.33 > Almost none of the banks withdrew Buy ratings while cutting, so the street now says the next quarters are smaller but the business is intact. Holders of the $5.6 billion-a-year analog chipmaker, and every non-AI chip name priced like it, carry the question of whether the Buy column or the tape is early. Thirteen research desks at investment banks cut their price targets on [Microchip Technology](https://theinference.org/markets/companies/microchip-technology) in two trading sessions, and Argus Research finished the wave on Monday at $100, down from $130. The cuts landed one trading day after the chipmaker's fiscal-second-quarter report on November 5, and none of the thirteen stopped calling the stock a Buy. Shareholders now hold two numbers that cannot both be right for long. ## Smaller quarters, not a broken company Twelve banks moved on November 6: [Morgan Stanley](https://theinference.org/markets/companies/morgan-stanley) took its target to $72 from $103, [Evercore](https://theinference.org/markets/companies/evercore) ISI to $75 from $117, [Citigroup](https://theinference.org/markets/companies/citigroup) to $75 from $95, and KeyBanc, Rosenblatt, UBS, Needham, Susquehanna, [Barclays](https://theinference.org/markets/companies/barclays), B [2]. Riley, [Wells Fargo](https://theinference.org/markets/companies/wells-fargo) and Cantor Fitzgerald each marked down too, by between 4% and 36% [2]. [Argus Research added the thirteenth cut on November 10, to $100 from $130](https://www.marketscreener.com/news/argus-research-adjusts-microchip-technology-price-target-to-100-from-130-ce785edadc8dfe2d) [2]. Not one headline withdrew a rating, and UBS and B. Riley reaffirmed Buy outright in the same note as the cut. Read together, the desks are signaling smaller coming quarters, not a damaged business. ## The Buy column and the tape disagree by 43% [The stock closed Monday at $60.33, down 22.55% this year](https://tradersunion.com/news/companies/show/4188850-microchip-technology-stock-falls-1-9percent/) [2]. Yet 79 of 103 analysts rate it a Buy, none at Sell, with a median target of $108 and a consensus average of $86.48, about 43% above the close [1][2]. Someone in that pair is early, and holders get paid or penalized for guessing which this month: the shares go ex-dividend on November 23 at $0.455 [2]. Sizing that disagreement, and the dividend date inside it, is what a holder can actually do with the gap. *Chart: **Twelve banks cut their Microchip targets in one session** Range chart showing each research desk's Microchip price target before the November 6 cut and after, with all twelve targets moving lower.* *Price targets in US dollars per share, before and after the November 6 cuts, as reported by MT Newswires. Argus Research's November 10 cut to $100 from $130 is not plotted. Sources: MarketScreener/MT Newswires (2). [2]* ## What got repriced is the non-AI half of chips The wave matters beyond one ticker. Microchip sells about $5.6 billion a year in microcontrollers and analog parts into appliances, cars and factory gear [1]. It is the non-AI half of the chip economy, and that half is shrinking while AI-chip names guide up. If the Buy column is right, every analog name sitting between the two markets is being marked down ahead of a cycle turn; if the tape is right, the downturn has another leg. The $54.92 weekly low is the sellers' line, and the level that decides the argument [1]. ## Takeaway Thirteen banks cut Microchip Technology targets in two sessions without dropping Buy ratings, leaving a 43% gap between the street's $86.48 consensus and Monday's $60.33 close; the November 23 ex-dividend date and the $54.92 weekly low are the near-term tests of which side is early. ## Sources 1. [Traders Union, Microchip Technology stock falls 1.9% today, 11 November 2026](https://tradersunion.com/news/companies/show/4188850-microchip-technology-stock-falls-1-9percent/) 2. [MarketScreener / MT Newswires, Argus Research Adjusts Microchip Technology Price Target to $100 From $130, 10 November 2026](https://www.marketscreener.com/news/argus-research-adjusts-microchip-technology-price-target-to-100-from-130-ce785edadc8dfe2d) --- Thirteen banks cut Microchip targets, none dropped Buy; consensus sits 43% above $60.33 — The Inference. Canonical: https://theinference.org/article/thirteen-banks-cut-microchip-technology-targets-none-dropped-buy-consensus-sits-43-above-60-33