Wall Street Zen Upgrades Microchip Technology (NASDAQ:MCHP) to Buy

Microchip Technology (NASDAQ:MCHP) was upgraded by analysts at Wall Street Zen from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Sunday.

Other research analysts have also recently issued research reports about the stock. Rosenblatt Securities raised their target price on shares of Microchip Technology from $80.00 to $115.00 and gave the stock a “buy” rating in a report on Friday, February 6th. B. Riley Financial raised their target price on Microchip Technology from $85.00 to $95.00 and gave the company a “buy” rating in a research report on Monday, January 12th. Barclays began coverage on shares of Microchip Technology in a report on Thursday, February 12th. They issued an “equal weight” rating and a $80.00 price target for the company. Morgan Stanley boosted their price objective on Microchip Technology from $68.00 to $69.00 and gave the stock an “equal weight” rating in a research note on Tuesday, January 6th. Finally, Stifel Nicolaus set a $90.00 target price on shares of Microchip Technology in a report on Friday, February 6th. Three investment analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and eight have issued a Hold rating to the company’s stock. According to MarketBeat.com, Microchip Technology has an average rating of “Moderate Buy” and a consensus price target of $86.00.

Microchip Technology Stock Performance

Shares of Microchip Technology stock opened at $63.83 on Friday. The company has a quick ratio of 1.16, a current ratio of 2.16 and a debt-to-equity ratio of 0.82. Microchip Technology has a 52 week low of $34.13 and a 52 week high of $83.35. The firm has a market capitalization of $34.54 billion, a P/E ratio of -220.10, a PEG ratio of 1.56 and a beta of 1.45. The company has a 50 day moving average price of $74.14 and a 200 day moving average price of $66.60.

Microchip Technology (NASDAQ:MCHP) last posted its quarterly earnings data on Thursday, February 5th. The semiconductor company reported $0.44 EPS for the quarter, topping the consensus estimate of $0.43 by $0.01. The business had revenue of $1.19 billion during the quarter, compared to the consensus estimate of $1.19 billion. Microchip Technology had a negative net margin of 1.57% and a positive return on equity of 7.16%. The business’s revenue for the quarter was up 15.6% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.20 earnings per share. Microchip Technology has set its Q4 2026 guidance at 0.480-0.520 EPS. Sell-side analysts expect that Microchip Technology will post 1.03 EPS for the current year.

Insider Buying and Selling at Microchip Technology

In other news, CEO Steve Sanghi sold 98,814 shares of the business’s stock in a transaction that occurred on Wednesday, January 28th. The shares were sold at an average price of $80.55, for a total value of $7,959,467.70. Following the sale, the chief executive officer directly owned 9,922,319 shares of the company’s stock, valued at approximately $799,242,795.45. The trade was a 0.99% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 1.94% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Microchip Technology

A number of institutional investors have recently modified their holdings of the company. Winnow Wealth LLC acquired a new position in Microchip Technology in the 3rd quarter valued at about $25,000. Root Financial Partners LLC acquired a new position in shares of Microchip Technology in the third quarter valued at approximately $28,000. EFG International AG acquired a new position in shares of Microchip Technology in the fourth quarter valued at approximately $29,000. Miller Capital Partners Inc. purchased a new stake in Microchip Technology during the 4th quarter worth approximately $29,000. Finally, Salomon & Ludwin LLC lifted its holdings in Microchip Technology by 219.3% during the 3rd quarter. Salomon & Ludwin LLC now owns 479 shares of the semiconductor company’s stock worth $32,000 after buying an additional 329 shares in the last quarter. 91.51% of the stock is owned by institutional investors and hedge funds.

About Microchip Technology

Microchip Technology Inc is a semiconductor company headquartered in Chandler, Arizona, that designs, develops and supplies a broad portfolio of embedded control and analog semiconductors. Its product lineup centers on microcontrollers (including the well-known PIC family), digital signal controllers and associated development tools and software, along with a range of mixed-signal and analog devices, nonvolatile memory, power management, timing, interface, wireless and security products. The company also provides integrated hardware and software solutions intended to simplify embedded design and accelerate time to market for OEMs and contract manufacturers.

Microchip’s products are used across a wide range of end markets, including automotive, industrial automation, consumer electronics, communications, aerospace and defense, and Internet of Things (IoT) applications.