Morgan Stanley Increases Microchip Technology (NASDAQ:MCHP) Price Target to $68.00

Microchip Technology (NASDAQ:MCHP) had its price target hoisted by Morgan Stanley from $63.00 to $68.00 in a research report issued to clients and investors on Tuesday,Benzinga reports. The firm currently has an “equal weight” rating on the semiconductor company’s stock. Morgan Stanley’s price objective would suggest a potential upside of 13.50% from the company’s current price.

MCHP has been the subject of several other research reports. Susquehanna increased their price target on shares of Microchip Technology from $60.00 to $90.00 and gave the company a “positive” rating in a research report on Tuesday, July 22nd. Zacks Research lowered shares of Microchip Technology from a “strong-buy” rating to a “hold” rating in a research report on Monday, August 18th. Citigroup increased their target price on shares of Microchip Technology from $68.00 to $90.00 and gave the stock a “buy” rating in a research report on Monday, July 7th. Piper Sandler raised their price objective on shares of Microchip Technology from $65.00 to $80.00 and gave the stock an “overweight” rating in a report on Friday, August 8th. Finally, KeyCorp raised their price objective on shares of Microchip Technology from $70.00 to $85.00 and gave the stock an “overweight” rating in a report on Tuesday, July 8th. One analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, seven have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, Microchip Technology currently has an average rating of “Moderate Buy” and an average price target of $76.65.

Microchip Technology Stock Down 4.0%

Shares of NASDAQ MCHP traded down $2.50 during trading on Tuesday, hitting $59.91. The stock had a trading volume of 1,578,580 shares, compared to its average volume of 9,627,337. Microchip Technology has a 12 month low of $34.13 and a 12 month high of $77.20. The company has a debt-to-equity ratio of 0.80, a current ratio of 2.31 and a quick ratio of 1.33. The firm has a fifty day moving average of $64.82 and a two-hundred day moving average of $63.87. The company has a market capitalization of $32.33 billion, a PE ratio of -176.66, a PEG ratio of 1.79 and a beta of 1.55.

Microchip Technology (NASDAQ:MCHP) last released its earnings results on Thursday, August 7th. The semiconductor company reported $0.27 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.24 by $0.03. The company had revenue of $1.08 billion during the quarter, compared to analyst estimates of $1.05 billion. Microchip Technology had a positive return on equity of 6.24% and a negative net margin of 3.50%.Microchip Technology’s quarterly revenue was down 13.3% on a year-over-year basis. During the same period in the prior year, the company posted $0.53 earnings per share. Microchip Technology has set its Q2 2026 guidance at 0.340-0.370 EPS. As a group, equities research analysts forecast that Microchip Technology will post 1.03 EPS for the current fiscal year.

Insider Transactions at Microchip Technology

In other Microchip Technology news, CFO James Eric Bjornholt sold 7,356 shares of Microchip Technology stock in a transaction that occurred on Monday, August 25th. The shares were sold at an average price of $68.72, for a total transaction of $505,504.32. Following the completion of the sale, the chief financial officer directly owned 30,010 shares in the company, valued at $2,062,287.20. The trade was a 19.69% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Matthew W. Chapman sold 10,000 shares of Microchip Technology stock in a transaction that occurred on Monday, August 25th. The shares were sold at an average price of $68.25, for a total transaction of $682,500.00. Following the sale, the director owned 30,665 shares of the company’s stock, valued at approximately $2,092,886.25. The trade was a 24.59% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Company insiders own 1.94% of the company’s stock.

Institutional Trading of Microchip Technology

A number of hedge funds have recently made changes to their positions in MCHP. Orbis Allan Gray Ltd bought a new stake in Microchip Technology during the first quarter worth about $369,612,000. Norges Bank bought a new stake in Microchip Technology in the second quarter worth $473,320,000. Invesco Ltd. lifted its stake in shares of Microchip Technology by 63.0% in the 1st quarter. Invesco Ltd. now owns 16,707,031 shares of the semiconductor company’s stock valued at $808,787,000 after acquiring an additional 6,459,123 shares during the last quarter. Dodge & Cox lifted its stake in shares of Microchip Technology by 958.4% in the 2nd quarter. Dodge & Cox now owns 6,339,800 shares of the semiconductor company’s stock valued at $446,132,000 after acquiring an additional 5,740,827 shares during the last quarter. Finally, Goldman Sachs Group Inc. lifted its position in Microchip Technology by 138.9% in the first quarter. Goldman Sachs Group Inc. now owns 8,834,550 shares of the semiconductor company’s stock valued at $427,681,000 after purchasing an additional 5,136,154 shares during the last quarter. 91.51% of the stock is owned by institutional investors.

Microchip Technology Company Profile

Microchip Technology Incorporated engages in the development, manufacture, and sale of 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 mixed-signal 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.