Microchip Technology (NASDAQ:MCHP) had its target price decreased by investment analysts at JPMorgan Chase & Co. from $125.00 to $113.00 in a report released on Friday. The firm presently has an “overweight” rating on the semiconductor company’s stock. JPMorgan Chase & Co.’s target price indicates a potential upside of 15.21% from the stock’s current price.

A number of other equities analysts also recently issued reports on the company. KeyCorp reiterated a “buy” rating and set a $111.00 price target (down previously from $116.00) on shares of Microchip Technology in a research report on Friday. BidaskClub upgraded Microchip Technology from a “hold” rating to a “buy” rating in a research report on Friday. Zacks Investment Research downgraded Microchip Technology from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, August 1st. Piper Jaffray Companies increased their price target on Microchip Technology from $110.00 to $150.00 and gave the stock an “overweight” rating in a research report on Friday, July 27th. Finally, Nomura began coverage on Microchip Technology in a research report on Wednesday, July 18th. They set a “buy” rating and a $110.00 price target on the stock. Five research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. Microchip Technology presently has an average rating of “Buy” and an average target price of $116.65.

Shares of Microchip Technology opened at $98.08 on Friday, Marketbeat reports. The company has a market cap of $22.90 billion, a price-to-earnings ratio of 18.90, a price-to-earnings-growth ratio of 1.12 and a beta of 1.13. The company has a current ratio of 1.66, a quick ratio of 1.43 and a debt-to-equity ratio of 0.54. Microchip Technology has a 12-month low of $78.33 and a 12-month high of $104.20.

Microchip Technology (NASDAQ:MCHP) last issued its quarterly earnings results on Thursday, August 9th. The semiconductor company reported $1.61 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.48 by $0.13. The company had revenue of $1.21 billion for the quarter, compared to the consensus estimate of $1.21 billion. Microchip Technology had a return on equity of 38.62% and a net margin of 6.41%. Microchip Technology’s revenue for the quarter was up 24.7% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.31 earnings per share. research analysts predict that Microchip Technology will post 6.18 EPS for the current year.

In other Microchip Technology news, CFO James Eric Bjornholt sold 2,308 shares of the stock in a transaction that occurred on Tuesday, May 22nd. The stock was sold at an average price of $93.55, for a total transaction of $215,913.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Stephen V. Drehobl sold 4,696 shares of the stock in a transaction that occurred on Tuesday, May 22nd. The shares were sold at an average price of $93.55, for a total value of $439,310.80. Following the completion of the sale, the vice president now directly owns 19,711 shares of the company’s stock, valued at approximately $1,843,964.05. The disclosure for this sale can be found here. 2.13% of the stock is owned by corporate insiders.

Large investors have recently bought and sold shares of the stock. Psagot Investment House Ltd. acquired a new stake in shares of Microchip Technology in the second quarter valued at approximately $125,000. Canada Pension Plan Investment Board increased its holdings in shares of Microchip Technology by 14,030.0% in the second quarter. Canada Pension Plan Investment Board now owns 1,413 shares of the semiconductor company’s stock valued at $129,000 after purchasing an additional 1,403 shares during the last quarter. Signaturefd LLC acquired a new stake in shares of Microchip Technology in the first quarter valued at approximately $131,000. Prospera Financial Services Inc acquired a new stake in shares of Microchip Technology in the second quarter valued at approximately $200,000. Finally, Hyman Charles D acquired a new stake in shares of Microchip Technology in the first quarter valued at approximately $201,000.

Microchip Technology Company Profile

Microchip Technology Incorporated develops, manufactures, and sells semiconductor products for various embedded control applications. The company offers general purpose and specialized 8-bit, 16-bit, and 32-bit microcontrollers; 32-bit microprocessors; and microcontrollers for automotive networking, computing, lighting, power supplies, motor control, human machine interface, security, wired connectivity, and wireless connectivity.

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Analyst Recommendations for Microchip Technology (NASDAQ:MCHP)

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