Microchip Technology (NASDAQ:MCHP) PT Raised to $105.00

Microchip Technology (NASDAQ:MCHP) had its price objective upped by equities research analysts at Susquehanna from $100.00 to $105.00 in a research report issued to clients and investors on Tuesday, Benzinga reports. The brokerage presently has a “positive” rating on the semiconductor company’s stock. Susquehanna’s target price would suggest a potential upside of 14.14% from the company’s current price.

Several other research firms have also issued reports on MCHP. Stifel Nicolaus raised their price target on Microchip Technology from $98.00 to $102.00 and gave the stock a “buy” rating in a research report on Wednesday, May 1st. UBS Group decreased their target price on Microchip Technology from $105.00 to $95.00 and set a “buy” rating for the company in a research report on Friday, February 2nd. Needham & Company LLC increased their price target on shares of Microchip Technology from $90.00 to $100.00 and gave the company a “buy” rating in a research report on Tuesday. The Goldman Sachs Group lowered their target price on shares of Microchip Technology from $87.00 to $77.00 and set a “neutral” rating for the company in a research note on Friday, February 2nd. Finally, Rosenblatt Securities reissued a “buy” rating and set a $100.00 price target on shares of Microchip Technology in a research report on Tuesday, January 30th. Six analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $98.47.

Microchip Technology Stock Down 0.1 %

Shares of MCHP opened at $91.99 on Tuesday. The business’s fifty day moving average price is $88.45 and its two-hundred day moving average price is $85.37. The firm has a market capitalization of $49.71 billion, a price-to-earnings ratio of 21.49, a PEG ratio of 2.79 and a beta of 1.60. Microchip Technology has a 52 week low of $68.75 and a 52 week high of $96.14. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.58 and a current ratio of 0.98.

Microchip Technology (NASDAQ:MCHP) last issued its earnings results on Monday, May 6th. The semiconductor company reported $0.57 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.57. The company had revenue of $1.33 billion for the quarter, compared to analyst estimates of $1.33 billion. Microchip Technology had a net margin of 27.59% and a return on equity of 45.59%. The company’s revenue for the quarter was down 40.6% on a year-over-year basis. During the same quarter last year, the firm earned $1.56 EPS. On average, analysts predict that Microchip Technology will post 4.64 earnings per share for the current year.

Insiders Place Their Bets

In other Microchip Technology news, CFO James Eric Bjornholt sold 1,970 shares of the stock in a transaction that occurred on Friday, February 23rd. The shares were sold at an average price of $83.90, for a total transaction of $165,283.00. Following the transaction, the chief financial officer now owns 32,893 shares in the company, valued at approximately $2,759,722.70. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Company insiders own 2.07% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. BKM Wealth Management LLC acquired a new position in Microchip Technology in the 4th quarter worth about $27,000. Rakuten Securities Inc. acquired a new stake in Microchip Technology during the 4th quarter worth approximately $27,000. Rise Advisors LLC acquired a new position in Microchip Technology in the 1st quarter valued at approximately $28,000. Fortitude Family Office LLC bought a new position in shares of Microchip Technology during the fourth quarter valued at $29,000. Finally, OFI Invest Asset Management acquired a new position in shares of Microchip Technology during the third quarter worth $26,000. Institutional investors own 91.51% of the company’s stock.

About Microchip Technology

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.