Microchip Technology (NASDAQ:MCHP) Stock Rating Upgraded by Wall Street Zen

Microchip Technology (NASDAQ:MCHP) was upgraded by investment analysts at Wall Street Zen from a “hold” rating to a “buy” rating in a report released on Tuesday.

Several other research analysts have also recently commented on MCHP. BNP Paribas Exane raised Microchip Technology from a “neutral” rating to an “outperform” rating and set a $90.00 price target for the company in a research report on Thursday, January 22nd. Cantor Fitzgerald boosted their price target on Microchip Technology from $85.00 to $100.00 and gave the stock an “overweight” rating in a research report on Monday, February 2nd. Bank of America upgraded Microchip Technology from a “neutral” rating to a “buy” rating and set a $95.00 price objective on the stock in a research note on Wednesday, January 28th. Rosenblatt Securities increased their price objective on Microchip Technology from $80.00 to $115.00 and gave the company a “buy” rating in a report on Friday, February 6th. Finally, Morgan Stanley raised their target price on shares of Microchip Technology from $68.00 to $69.00 and gave the company an “equal weight” rating in a research note on Tuesday, January 6th. Three equities research analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, seven have given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $86.00.

Microchip Technology Stock Up 1.2%

Microchip Technology stock opened at $65.38 on Tuesday. The company has a current ratio of 2.16, a quick ratio of 1.16 and a debt-to-equity ratio of 0.82. Microchip Technology has a 1-year low of $34.13 and a 1-year high of $83.35. The company has a fifty day simple moving average of $71.62 and a 200 day simple moving average of $66.52. The company has a market cap of $35.38 billion, a P/E ratio of -225.45, a price-to-earnings-growth ratio of 1.63 and a beta of 1.48.

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

Insider Buying and Selling

In other Microchip Technology news, CEO Steve Sanghi sold 98,814 shares of the company’s stock in a transaction 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 transaction, the chief executive officer directly owned 9,922,319 shares in the company, valued at $799,242,795.45. The trade was a 0.99% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 1.94% of the stock is currently owned by company insiders.

Institutional Trading of Microchip Technology

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Vanguard Group Inc. increased its position in Microchip Technology by 2.1% during the third quarter. Vanguard Group Inc. now owns 72,075,558 shares of the semiconductor company’s stock worth $4,628,692,000 after acquiring an additional 1,507,554 shares during the period. PNC Financial Services Group Inc. boosted its holdings in Microchip Technology by 13.5% in the 3rd quarter. PNC Financial Services Group Inc. now owns 209,384 shares of the semiconductor company’s stock valued at $13,447,000 after purchasing an additional 24,963 shares during the period. Assenagon Asset Management S.A. grew 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 worth $130,675,000 after purchasing an additional 1,694,533 shares in the last quarter. Natixis Advisors LLC grew its position in shares of Microchip Technology by 18.7% during the 3rd quarter. Natixis Advisors LLC now owns 1,233,018 shares of the semiconductor company’s stock worth $79,184,000 after purchasing an additional 194,048 shares in the last quarter. Finally, Voya Investment Management LLC increased its holdings in shares of Microchip Technology by 37.2% during the third 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. Institutional investors own 91.51% of the company’s stock.

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.