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

Microchip Technology (NASDAQ:MCHP) was upgraded by stock analysts at Wall Street Zen from a “hold” rating to a “buy” rating in a note issued to investors on Tuesday.

Several other brokerages also recently weighed in on MCHP. Citigroup lowered their price objective on shares of Microchip Technology from $92.00 to $91.00 and set a “buy” rating on the stock in a research report on Friday, February 6th. Susquehanna lifted their price objective on Microchip Technology from $75.00 to $90.00 and gave the company a “positive” rating in a report on Thursday, January 22nd. Rosenblatt Securities boosted their target price on Microchip Technology from $80.00 to $115.00 and gave the stock a “buy” rating in a research report on Friday, February 6th. Argus raised shares of Microchip Technology to a “strong-buy” rating in a research note on Monday, February 9th. Finally, JPMorgan Chase & Co. raised their price objective on Microchip Technology from $85.00 to $95.00 and gave the company an “overweight” rating in a research note on Friday, February 6th. Three research analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, seven have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, Microchip Technology presently has an average rating of “Moderate Buy” and an average price target of $86.00.

Microchip Technology Trading Down 3.1%

NASDAQ:MCHP opened at $60.06 on Tuesday. The company has a market capitalization of $32.50 billion, a PE ratio of -207.10, a P/E/G ratio of 1.56 and a beta of 1.45. Microchip Technology has a 52-week low of $34.13 and a 52-week high of $83.35. The stock’s 50 day moving average price is $72.01 and its 200 day moving average price is $66.53. 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 (NASDAQ:MCHP) last issued its quarterly earnings data on Thursday, February 5th. The semiconductor company reported $0.44 earnings per share for the quarter, beating analysts’ consensus estimates of $0.43 by $0.01. The company had revenue of $1.19 billion during the quarter, compared to analysts’ expectations of $1.19 billion. Microchip Technology had a positive return on equity of 7.16% and a negative net margin of 1.57%.The firm’s revenue for the quarter was up 15.6% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.20 earnings per share. Microchip Technology has set its Q4 2026 guidance at 0.480-0.520 EPS. On average, research analysts anticipate that Microchip Technology will post 1.03 EPS for the current year.

Insiders Place Their Bets

In other Microchip Technology 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 transaction of $7,959,467.70. Following the transaction, the chief executive officer owned 9,922,319 shares of the company’s stock, valued at $799,242,795.45. This represents a 0.99% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. Company insiders own 1.94% of the company’s stock.

Hedge Funds Weigh In On Microchip Technology

Several institutional investors have recently added to or reduced their stakes in the business. MCF Advisors LLC boosted its stake in Microchip Technology by 25.8% in the 4th quarter. MCF Advisors LLC now owns 659 shares of the semiconductor company’s stock valued at $42,000 after purchasing an additional 135 shares during the period. Gagnon Securities LLC increased its position in Microchip Technology by 0.5% during the 4th quarter. Gagnon Securities LLC now owns 27,162 shares of the semiconductor company’s stock worth $1,731,000 after buying an additional 137 shares during the period. Evelyn Partners Investment Management LLP lifted its holdings in shares of Microchip Technology by 1.5% during the fourth quarter. Evelyn Partners Investment Management LLP now owns 9,300 shares of the semiconductor company’s stock worth $593,000 after buying an additional 140 shares in the last quarter. Millstone Evans Group LLC lifted its holdings in shares of Microchip Technology by 23.7% during the fourth quarter. Millstone Evans Group LLC now owns 742 shares of the semiconductor company’s stock worth $47,000 after buying an additional 142 shares in the last quarter. Finally, Dorsey & Whitney Trust CO LLC boosted its position in shares of Microchip Technology by 1.6% in the fourth quarter. Dorsey & Whitney Trust CO LLC now owns 8,973 shares of the semiconductor company’s stock valued at $572,000 after acquiring an additional 143 shares during the period. 91.51% of the stock is currently owned by institutional investors and hedge funds.

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.