Microchip Technology (NASDAQ:MCHP) Stock Rating Upgraded by BNP Paribas Exane

Microchip Technology (NASDAQ:MCHP) was upgraded by stock analysts at BNP Paribas Exane from a “neutral” rating to an “outperform” rating in a note issued to investors on Thursday, Marketbeat reports. The firm presently has a $90.00 price objective on the semiconductor company’s stock. BNP Paribas Exane’s price target would suggest a potential upside of 18.11% from the company’s current price.

Several other equities analysts have also recently commented on MCHP. KeyCorp restated an “overweight” rating on shares of Microchip Technology in a research report on Wednesday, December 3rd. Piper Sandler raised their target price on Microchip Technology from $80.00 to $85.00 and gave the company an “overweight” rating in a report on Thursday, January 15th. Rosenblatt Securities restated a “buy” rating and set a $80.00 price objective on shares of Microchip Technology in a research report on Tuesday, January 6th. Morgan Stanley lifted their target price on Microchip Technology from $68.00 to $69.00 and gave the company an “equal weight” rating in a research report on Tuesday, January 6th. Finally, TD Cowen dropped their target price on shares of Microchip Technology from $65.00 to $60.00 and set a “hold” rating for the company in a report on Friday, November 7th. One research analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating, six have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $80.82.

Microchip Technology Price Performance

Microchip Technology stock opened at $76.20 on Thursday. The firm has a market cap of $41.18 billion, a PE ratio of -169.33, a price-to-earnings-growth ratio of 2.17 and a beta of 1.46. The company has a debt-to-equity ratio of 0.80, a current ratio of 2.25 and a quick ratio of 1.20. The stock’s fifty day moving average price is $64.00 and its two-hundred day moving average price is $65.29. Microchip Technology has a one year low of $34.13 and a one year high of $77.20.

Microchip Technology (NASDAQ:MCHP) last released its earnings results on Thursday, November 6th. The semiconductor company reported $0.35 earnings per share for the quarter, beating analysts’ consensus estimates 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 firm had revenue of $1.14 billion during the quarter, compared to the consensus estimate of $1.13 billion. During the same period in the prior year, the company posted $0.46 EPS. The company’s revenue 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. As a group, research analysts expect that Microchip Technology will post 1.03 EPS for the current fiscal year.

Insiders Place Their Bets

In other Microchip Technology news, CFO James Eric Bjornholt sold 4,292 shares of the business’s stock in a transaction that occurred on Tuesday, November 25th. The shares were sold at an average price of $50.39, for a total transaction of $216,273.88. Following the sale, the chief financial officer directly owned 30,089 shares of the company’s stock, valued at $1,516,184.71. The trade was a 12.48% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 1.94% of the stock is owned by insiders.

Hedge Funds Weigh In On Microchip Technology

A number of hedge funds have recently modified their holdings of the business. Vanguard Group Inc. increased its holdings in Microchip Technology by 2.1% in the third quarter. Vanguard Group Inc. now owns 72,075,558 shares of the semiconductor company’s stock valued at $4,628,692,000 after purchasing an additional 1,507,554 shares during the period. State Street Corp grew its position in shares of Microchip Technology by 8.5% in the 2nd quarter. State Street Corp now owns 31,888,814 shares of the semiconductor company’s stock valued at $2,244,016,000 after buying an additional 2,489,258 shares during the last quarter. Invesco Ltd. grew its position in shares of Microchip Technology by 10.4% in the 2nd quarter. Invesco Ltd. now owns 18,452,546 shares of the semiconductor company’s stock valued at $1,298,506,000 after buying an additional 1,745,515 shares during the last quarter. Boston Partners increased its stake in shares of Microchip Technology by 9.5% in the third quarter. Boston Partners now owns 16,234,332 shares of the semiconductor company’s stock valued at $1,044,024,000 after buying an additional 1,406,885 shares during the period. Finally, Geode Capital Management LLC raised its position in shares of Microchip Technology by 2.4% during the second quarter. Geode Capital Management LLC now owns 14,842,341 shares of the semiconductor company’s stock worth $1,040,544,000 after acquiring an additional 343,210 shares during the last quarter. Institutional investors and hedge funds own 91.51% of the company’s stock.

Microchip Technology Company Profile

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.