Piper Sandler Boosts Microchip Technology (NASDAQ:MCHP) Price Target to $85.00

Microchip Technology (NASDAQ:MCHP) had its price target hoisted by Piper Sandler from $80.00 to $85.00 in a research report issued on Thursday,Benzinga reports. The brokerage currently has an “overweight” rating on the semiconductor company’s stock. Piper Sandler’s target price indicates a potential upside of 13.82% from the company’s current price.

Several other analysts also recently commented on MCHP. JPMorgan Chase & Co. increased their price objective on shares of Microchip Technology from $77.00 to $85.00 and gave the company an “overweight” rating in a research report on Tuesday, January 6th. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Microchip Technology in a research report on Wednesday, October 8th. Susquehanna cut their target price on shares of Microchip Technology from $85.00 to $75.00 and set a “positive” rating for the company in a research report on Friday, November 7th. Stifel Nicolaus set a $80.00 target price on shares of Microchip Technology and gave the company a “buy” rating in a research note on Tuesday, January 6th. Finally, Mizuho increased their price target on Microchip Technology from $80.00 to $83.00 and gave the company an “outperform” rating in a report on Friday, January 9th. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, six have assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $78.81.

Microchip Technology Stock Up 0.8%

MCHP stock opened at $74.68 on Thursday. The business has a 50 day moving average of $62.16 and a 200 day moving average of $65.20. The firm has a market cap of $40.36 billion, a PE ratio of -165.96, a price-to-earnings-growth ratio of 2.23 and a beta of 1.46. Microchip Technology has a twelve month low of $34.13 and a twelve month high of $77.20. The company has a quick ratio of 1.20, a current ratio of 2.25 and a debt-to-equity ratio of 0.80.

Microchip Technology (NASDAQ:MCHP) last released its earnings results on Thursday, November 6th. The semiconductor company reported $0.35 EPS for the quarter, topping the consensus estimate of $0.33 by $0.02. Microchip Technology had a positive return on equity of 5.21% and a negative net margin of 4.39%.The business had revenue of $1.14 billion for the quarter, compared to the consensus estimate of $1.13 billion. During the same period in the previous year, the company posted $0.46 earnings per share. The company’s revenue for the quarter was down 2.0% compared to the same quarter last year. Microchip Technology has set its Q3 2026 guidance at 0.340-0.400 EPS. On average, research analysts forecast that Microchip Technology will post 1.03 EPS for the current fiscal year.

Insider Activity

In other news, CFO James Eric Bjornholt sold 4,292 shares of the stock in a transaction that occurred on Tuesday, November 25th. The stock was sold at an average price of $50.39, for a total transaction of $216,273.88. Following the completion of the transaction, the chief financial officer directly owned 30,089 shares in the company, valued at approximately $1,516,184.71. This represents a 12.48% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.94% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Microchip Technology

Hedge funds have recently bought and sold shares of the business. Winnow Wealth LLC bought a new position in shares of Microchip Technology in the 3rd quarter valued at about $25,000. Root Financial Partners LLC purchased a new position in shares of Microchip Technology during the third quarter valued at approximately $28,000. MCF Advisors LLC boosted its holdings in Microchip Technology by 211.2% during the 2nd quarter. MCF Advisors LLC now owns 473 shares of the semiconductor company’s stock valued at $33,000 after acquiring an additional 321 shares during the period. Salomon & Ludwin LLC grew its position in Microchip Technology by 219.3% in the 3rd quarter. Salomon & Ludwin LLC now owns 479 shares of the semiconductor company’s stock valued at $32,000 after acquiring an additional 329 shares during the last quarter. Finally, Quent Capital LLC bought a new position in shares of Microchip Technology in the third quarter worth about $32,000. Hedge funds and other institutional investors own 91.51% of the company’s stock.

About Microchip Technology

Microchip Technology Inc is a semiconductor company headquartered in Chandler, Arizona, that designs, develops and supplies a broad portfolio of embedded control and analog semiconductors. Its product lineup centers on microcontrollers (including the well-known PIC family), digital signal controllers and associated development tools and software, along with a range of mixed-signal and analog devices, nonvolatile memory, power management, timing, interface, wireless and security products. The company also provides integrated hardware and software solutions intended to simplify embedded design and accelerate time to market for OEMs and contract manufacturers.

Microchip’s products are used across a wide range of end markets, including automotive, industrial automation, consumer electronics, communications, aerospace and defense, and Internet of Things (IoT) applications.