Microchip Technology (NASDAQ:MCHP) Upgraded by BNP Paribas Exane to Outperform Rating

Microchip Technology (NASDAQ:MCHP) was upgraded by research analysts at BNP Paribas Exane from a “neutral” rating to an “outperform” rating in a report issued on Thursday, MarketBeat.com reports. The brokerage presently has a $90.00 price target on the semiconductor company’s stock. BNP Paribas Exane’s target price suggests a potential upside of 18.11% from the stock’s previous close.

Several other brokerages have also commented on MCHP. Stifel Nicolaus set a $80.00 target price on Microchip Technology and gave the company a “buy” rating in a research report on Tuesday, January 6th. B. Riley increased their price target on Microchip Technology from $85.00 to $95.00 and gave the stock a “buy” rating in a report on Monday, January 12th. Wolfe Research set a $85.00 price objective on shares of Microchip Technology in a research report on Tuesday, January 6th. KeyCorp reiterated an “overweight” rating on shares of Microchip Technology in a research report on Wednesday, December 3rd. Finally, Rosenblatt Securities restated a “buy” rating and issued a $80.00 price target on shares of Microchip Technology in a report on Tuesday, January 6th. One analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, six have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $80.82.

Microchip Technology Trading Up 4.1%

MCHP opened at $76.20 on Thursday. Microchip Technology has a twelve month low of $34.13 and a twelve month high of $77.20. The company has a fifty day moving average of $64.00 and a 200-day moving average of $65.29. The stock has a market cap of $41.18 billion, a PE ratio of -169.33, a price-to-earnings-growth ratio of 2.17 and a beta of 1.46. The company has a quick ratio of 1.20, a current ratio of 2.25 and a debt-to-equity ratio of 0.80.

Microchip Technology (NASDAQ:MCHP) last issued its quarterly earnings results on Thursday, November 6th. The semiconductor company reported $0.35 EPS for the quarter, beating analysts’ consensus estimates of $0.33 by $0.02. Microchip Technology had a negative net margin of 4.39% and a positive return on equity of 5.21%. The business had revenue of $1.14 billion for the quarter, compared to analysts’ expectations of $1.13 billion. During the same quarter in the prior year, the firm posted $0.46 earnings per share. The business’s quarterly revenue was down 2.0% compared to the same quarter last year. Microchip Technology has set its Q3 2026 guidance at 0.340-0.400 EPS. On average, sell-side analysts predict that Microchip Technology will post 1.03 EPS for the current year.

Insider Buying and Selling

In other news, CFO James Eric Bjornholt sold 4,292 shares of the stock in a transaction that occurred on Tuesday, November 25th. The stock was sold at an average price of $50.39, for a total value of $216,273.88. Following the completion of the sale, the chief financial officer directly owned 30,089 shares of the company’s stock, valued at $1,516,184.71. This represents a 12.48% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Corporate insiders own 1.94% of the company’s stock.

Institutional Investors Weigh In On Microchip Technology

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Parsons Capital Management Inc. RI purchased a new stake in Microchip Technology during the second quarter valued at $280,000. Mizuho Markets Cayman LP bought a new stake in shares of Microchip Technology during the 2nd quarter valued at about $107,584,000. Boston Partners grew its stake in shares of Microchip Technology by 38.0% during the 2nd quarter. Boston Partners now owns 14,802,525 shares of the semiconductor company’s stock valued at $1,040,114,000 after purchasing an additional 4,076,112 shares during the period. Assenagon Asset Management S.A. increased its position in shares of Microchip Technology by 498.0% during the 3rd quarter. Assenagon Asset Management S.A. now owns 2,034,797 shares of the semiconductor company’s stock valued at $130,675,000 after purchasing an additional 1,694,533 shares during the last quarter. Finally, Voya Investment Management LLC lifted its stake in shares of Microchip Technology by 37.2% in the 3rd quarter. Voya Investment Management LLC now owns 3,361,581 shares of the semiconductor company’s stock worth $215,881,000 after purchasing an additional 911,731 shares during the period. 91.51% of the stock is owned by hedge funds and other institutional investors.

Microchip Technology Company Profile

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.