Microchip Technology (NASDAQ:MCHP) PT Raised to $102.00

Microchip Technology (NASDAQ:MCHP) had its price target lifted by Stifel Nicolaus from $98.00 to $102.00 in a report published on Wednesday morning, Benzinga reports. Stifel Nicolaus currently has a buy rating on the semiconductor company’s stock.

Several other equities research analysts have also recently commented on MCHP. Wolfe Research raised shares of Microchip Technology from a peer perform rating to an outperform rating and set a $105.00 price objective on the stock in a research report on Thursday, January 18th. TD Cowen lifted their price target on shares of Microchip Technology from $75.00 to $80.00 and gave the company a market perform rating in a research note on Friday, February 2nd. Truist Financial lowered their price target on shares of Microchip Technology from $97.00 to $93.00 and set a buy rating on the stock in a research note on Tuesday, January 9th. Piper Sandler lowered shares of Microchip Technology from an overweight rating to a neutral rating and set a $80.00 price objective on the stock. in a research note on Thursday, January 4th. Finally, Needham & Company LLC boosted their price objective on shares of Microchip Technology from $85.00 to $90.00 and gave the stock a buy rating in a research note on Friday, February 2nd. Six equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat.com, Microchip Technology has an average rating of Moderate Buy and an average price target of $92.75.

Microchip Technology Trading Up 2.1 %

Shares of NASDAQ MCHP opened at $91.36 on Wednesday. The stock has a market cap of $49.37 billion, a price-to-earnings ratio of 21.35, a P/E/G ratio of 2.79 and a beta of 1.60. Microchip Technology has a twelve month low of $68.75 and a twelve month high of $94.63. The company’s fifty day moving average is $88.05 and its 200-day moving average is $85.04. The company has a quick ratio of 0.58, a current ratio of 0.98 and a debt-to-equity ratio of 0.57.

Microchip Technology (NASDAQ:MCHP) last posted its quarterly earnings data on Thursday, February 1st. The semiconductor company reported $1.08 EPS for the quarter, beating the consensus estimate of $1.04 by $0.04. The business had revenue of $1.77 billion for the quarter, compared to analysts’ expectations of $1.77 billion. Microchip Technology had a net margin of 27.59% and a return on equity of 45.59%. The firm’s revenue was down 18.6% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.48 EPS. Equities research analysts predict that Microchip Technology will post 4.64 EPS for the current year.

Insider Activity at Microchip Technology

In related news, Director Karlton D. Johnson sold 370 shares of the company’s stock in a transaction dated Tuesday, February 6th. The shares were sold at an average price of $84.00, for a total value of $31,080.00. Following the transaction, the director now owns 1,789 shares in the company, valued at approximately $150,276. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. In other Microchip Technology news, Director Karlton D. Johnson sold 370 shares of the business’s stock in a transaction dated Tuesday, February 6th. The shares were sold at an average price of $84.00, for a total value of $31,080.00. Following the completion of the sale, the director now owns 1,789 shares of the company’s stock, valued at approximately $150,276. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO James Eric Bjornholt sold 1,970 shares of the business’s stock in a transaction dated Friday, February 23rd. The shares were sold at an average price of $83.90, for a total transaction of $165,283.00. Following the completion of the sale, the chief financial officer now directly owns 32,893 shares of the company’s stock, valued at approximately $2,759,722.70. The disclosure for this sale can be found here. 2.07% of the stock is owned by company insiders.

Institutional Trading of Microchip Technology

A number of institutional investors have recently bought and sold shares of MCHP. OFI Invest Asset Management bought a new stake in shares of Microchip Technology during the 3rd quarter worth approximately $26,000. BKM Wealth Management LLC bought a new stake in shares of Microchip Technology during the 4th quarter worth approximately $27,000. Rakuten Securities Inc. bought a new stake in shares of Microchip Technology during the 4th quarter worth approximately $27,000. Rise Advisors LLC bought a new stake in shares of Microchip Technology during the 1st quarter worth approximately $28,000. Finally, Fortitude Family Office LLC bought a new stake in shares of Microchip Technology during the 4th quarter worth approximately $29,000. Institutional investors own 91.51% of the company’s stock.

Microchip Technology Company Profile

Microchip Technology Incorporated develops, manufactures, and sells smart, connected, and secure embedded control solutions in the Americas, Europe, and Asia. The company offers general purpose 8-bit, 16-bit, and 32-bit microcontrollers; 32-bit embedded mixed-signal microprocessors; and specialized microcontrollers for automotive, industrial, computing, communications, lighting, power supplies, motor control, human machine interface, security, wired connectivity, and wireless connectivity applications.