BMO Capital Markets Begins Coverage on Microchip Technology (NASDAQ:MCHP)

Research analysts at BMO Capital Markets started coverage on shares of Microchip Technology (NASDAQ:MCHP) in a research note issued on Friday,Benzinga reports. The brokerage set an “outperform” rating and a $95.00 price target on the semiconductor company’s stock. BMO Capital Markets’ price target suggests a potential upside of 25.31% from the company’s current price.

Several other equities analysts also recently commented on MCHP. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $125.00 price objective on shares of Microchip Technology in a research report on Monday. JPMorgan Chase & Co. boosted their price target on Microchip Technology from $95.00 to $120.00 and gave the company an “overweight” rating in a report on Friday, May 8th. Citigroup decreased their price objective on Microchip Technology from $113.00 to $95.00 and set a “buy” rating for the company in a report on Friday, August 7th. Needham & Company LLC boosted their price target on shares of Microchip Technology from $84.00 to $120.00 and gave the company a “buy” rating in a report on Friday, May 8th. Finally, TD Cowen dropped their price objective on shares of Microchip Technology from $105.00 to $90.00 and set a “hold” rating on the stock in a research note on Monday, July 13th. Two equities research analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and eight have assigned a Hold rating to the company’s stock. According to MarketBeat.com, Microchip Technology currently has a consensus rating of “Moderate Buy” and a consensus target price of $98.67.

Microchip Technology Stock Performance

Shares of NASDAQ:MCHP opened at $75.81 on Friday. The company has a current ratio of 1.92, a quick ratio of 1.11 and a debt-to-equity ratio of 0.83. Microchip Technology has a 12 month low of $48.52 and a 12 month high of $105.91. The company has a market capitalization of $41.17 billion, a price-to-earnings ratio of 113.15, a PEG ratio of 0.54 and a beta of 1.76. The firm’s 50-day moving average is $84.67 and its 200 day moving average is $81.53.

Microchip Technology (NASDAQ:MCHP) last announced its quarterly earnings data on Thursday, August 6th. The semiconductor company reported $0.76 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.70 by $0.06. Microchip Technology had a net margin of 9.34% and a return on equity of 14.97%. The business had revenue of $1.48 billion during the quarter, compared to the consensus estimate of $1.46 billion. During the same quarter last year, the firm earned $0.27 earnings per share. The firm’s quarterly revenue was up 38.0% compared to the same quarter last year. Microchip Technology has set its Q2 2027 guidance at 0.910-0.950 EPS. Research analysts predict that Microchip Technology will post 3.16 EPS for the current year.

Insider Transactions at Microchip Technology

In other Microchip Technology news, Director Matthew W. Chapman sold 3,000 shares of Microchip Technology stock in a transaction dated Thursday, May 28th. The stock was sold at an average price of $97.52, for a total transaction of $292,560.00. Following the completion of the transaction, the director owned 17,665 shares in the company, valued at approximately $1,722,690.80. This trade represents a 14.52% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CFO James Eric Bjornholt sold 837 shares of the company’s stock in a transaction dated Monday, August 17th. The stock was sold at an average price of $80.26, for a total value of $67,177.62. Following the completion of the sale, the chief financial officer owned 30,960 shares in the company, valued at $2,484,849.60. The trade was a 2.63% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 8,837 shares of company stock worth $847,338 over the last 90 days. 1.79% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Microchip Technology

A number of hedge funds and other institutional investors have recently made changes to their positions in MCHP. EFG International AG purchased a new stake in Microchip Technology during the fourth quarter worth $29,000. Miller Capital Partners Inc. acquired a new position in Microchip Technology in the 4th quarter worth about $29,000. Continuum Advisory LLC acquired a new stake in Microchip Technology in the second quarter valued at approximately $30,000. Johnson Financial Group Inc. purchased a new stake in shares of Microchip Technology in the second quarter valued at approximately $31,000. Finally, Reflection Asset Management purchased a new position in shares of Microchip Technology during the 4th quarter valued at approximately $33,000. Institutional investors and hedge funds own 91.51% of the company’s stock.

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.