Microchip Technology (NASDAQ:MCHP) Upgraded by Wall Street Zen to “Buy” Rating

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

Other equities research analysts also recently issued research reports about the company. Citigroup lowered their price target on Microchip Technology from $92.00 to $91.00 and set a “buy” rating for the company in a report on Friday, February 6th. Barclays initiated coverage on shares of Microchip Technology in a research note on Thursday, February 12th. They set an “equal weight” rating and a $80.00 price objective for the company. Weiss Ratings upgraded Microchip Technology from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Friday, February 6th. Morgan Stanley increased their price target on Microchip Technology from $68.00 to $69.00 and gave the stock an “equal weight” rating in a research report on Tuesday, January 6th. Finally, Rosenblatt Securities lifted their target price on shares of Microchip Technology from $80.00 to $115.00 and gave the company a “buy” rating in a report on Friday, February 6th. Three analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating and eight have issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $86.00.

Microchip Technology Trading Down 1.3%

NASDAQ MCHP opened at $61.94 on Friday. Microchip Technology has a one year low of $34.13 and a one year high of $83.35. The company has a debt-to-equity ratio of 0.82, a quick ratio of 1.16 and a current ratio of 2.16. The company has a market capitalization of $33.52 billion, a price-to-earnings ratio of -213.59, a price-to-earnings-growth ratio of 1.56 and a beta of 1.45. The company’s 50-day simple moving average is $74.21 and its two-hundred day simple moving average is $66.61.

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

Insider Activity at Microchip Technology

In related news, CEO Steve Sanghi sold 98,814 shares of the stock in a transaction on Wednesday, January 28th. The stock was sold at an average price of $80.55, for a total value of $7,959,467.70. Following the completion of the transaction, the chief executive officer directly owned 9,922,319 shares of the company’s stock, valued at approximately $799,242,795.45. This represents a 0.99% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 1.94% of the company’s stock.

Institutional Investors Weigh In On Microchip Technology

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