Microchip Technology (NASDAQ:MCHP) has been given a $95.00 price objective by stock analysts at Nomura in a research report issued on Thursday. The brokerage currently has a “buy” rating on the semiconductor company’s stock. Nomura’s price target would suggest a potential upside of 31.71% from the stock’s current price.

MCHP has been the subject of a number of other research reports. ValuEngine downgraded shares of Microchip Technology from a “hold” rating to a “sell” rating in a research note on Tuesday, August 14th. Rosenblatt Securities reiterated a “buy” rating and issued a $125.00 price target on shares of Microchip Technology in a research note on Sunday, August 12th. BidaskClub upgraded shares of Microchip Technology from a “strong sell” rating to a “sell” rating in a research note on Friday, November 2nd. KeyCorp decreased their price target on shares of Microchip Technology from $116.00 to $111.00 and set an “overweight” rating for the company in a research note on Friday, August 10th. Finally, Morgan Stanley decreased their price target on shares of Microchip Technology from $98.00 to $95.00 and set an “equal weight” rating for the company in a research note on Wednesday, October 3rd. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating and eleven have issued a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus target price of $105.11.

Shares of Microchip Technology stock opened at $72.13 on Thursday. Microchip Technology has a 52-week low of $60.70 and a 52-week high of $104.20. The company has a quick ratio of 0.80, a current ratio of 1.32 and a debt-to-equity ratio of 1.96. The company has a market capitalization of $16.56 billion, a P/E ratio of 13.90, a PEG ratio of 0.77 and a beta of 1.24.

Microchip Technology (NASDAQ:MCHP) last issued its quarterly earnings results on Wednesday, November 7th. The semiconductor company reported $1.68 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.65 by $0.03. Microchip Technology had a net margin of 0.59% and a return on equity of 37.96%. The company had revenue of $1.51 billion during the quarter, compared to the consensus estimate of $1.51 billion. During the same quarter in the previous year, the firm earned $1.41 earnings per share. The firm’s quarterly revenue was up 49.5% on a year-over-year basis. On average, equities research analysts anticipate that Microchip Technology will post 6.36 EPS for the current fiscal year.

In related news, COO Ganesh Moorthy acquired 12,000 shares of the business’s stock in a transaction on Tuesday, August 14th. The shares were bought at an average price of $84.10 per share, with a total value of $1,009,200.00. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, VP Stephen V. Drehobl sold 3,998 shares of the firm’s stock in a transaction that occurred on Wednesday, August 22nd. The stock was sold at an average price of $84.33, for a total transaction of $337,151.34. Following the sale, the vice president now directly owns 16,931 shares in the company, valued at approximately $1,427,791.23. The disclosure for this sale can be found here. 2.13% of the stock is currently owned by company insiders.

A number of hedge funds have recently added to or reduced their stakes in MCHP. Ceredex Value Advisors LLC acquired a new position in shares of Microchip Technology in the 3rd quarter valued at $114,767,000. Artisan Partners Limited Partnership acquired a new position in shares of Microchip Technology in the 2nd quarter valued at $96,187,000. OppenheimerFunds Inc. increased its holdings in shares of Microchip Technology by 114.5% in the 2nd quarter. OppenheimerFunds Inc. now owns 1,753,557 shares of the semiconductor company’s stock valued at $159,486,000 after acquiring an additional 935,884 shares during the period. Millennium Management LLC increased its holdings in shares of Microchip Technology by 1,900.4% in the 2nd quarter. Millennium Management LLC now owns 705,152 shares of the semiconductor company’s stock valued at $64,134,000 after acquiring an additional 669,901 shares during the period. Finally, Janus Henderson Group PLC increased its holdings in shares of Microchip Technology by 4.7% in the 2nd quarter. Janus Henderson Group PLC now owns 12,919,605 shares of the semiconductor company’s stock valued at $1,175,042,000 after acquiring an additional 582,965 shares during the period.

About Microchip Technology

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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