Microchip Technology (NASDAQ:MCHP) Stock Rating Upgraded by BMO Capital Markets

Microchip Technology (NASDAQ:MCHP) was upgraded by investment analysts at BMO Capital Markets to a “strong-buy” rating in a note issued to investors on Thursday,Zacks.com reports.

Several other equities analysts also recently commented on MCHP. Weiss Ratings upgraded shares of Microchip Technology from a “hold (c-)” rating to a “hold (c)” rating in a report on Tuesday, August 11th. JPMorgan Chase & Co. raised their price objective on shares of Microchip Technology from $95.00 to $120.00 and gave the stock an “overweight” rating in a research note on Friday, May 8th. UBS Group restated a “buy” rating and set a $120.00 target price (down from $130.00) on shares of Microchip Technology in a research report on Friday, August 7th. Susquehanna upped their target price on Microchip Technology from $95.00 to $120.00 and gave the company a “positive” rating in a research note on Friday, May 8th. Finally, Barclays increased their price target on Microchip Technology from $80.00 to $105.00 and gave the stock an “equal weight” rating in a report on Monday, May 11th. Three research analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and eight have issued a Hold rating to the company. According to data from MarketBeat, Microchip Technology currently has an average rating of “Moderate Buy” and an average price target of $98.67.

Microchip Technology Stock Up 0.4%

NASDAQ MCHP opened at $76.08 on Thursday. The company has a quick ratio of 1.11, a current ratio of 1.92 and a debt-to-equity ratio of 0.83. The company has a fifty day moving average of $84.29 and a two-hundred day moving average of $81.49. The firm has a market capitalization of $41.31 billion, a price-to-earnings ratio of 113.55, a PEG ratio of 0.53 and a beta of 1.76. Microchip Technology has a 52 week low of $48.52 and a 52 week high of $105.91.

Microchip Technology (NASDAQ:MCHP) last posted its quarterly earnings data on Thursday, August 6th. The semiconductor company reported $0.76 earnings per share for the quarter, beating analysts’ consensus estimates of $0.70 by $0.06. Microchip Technology had a net margin of 9.34% and a return on equity of 14.97%. The business had revenue of $1.48 billion for the quarter, compared to analysts’ expectations of $1.46 billion. During the same quarter in the previous year, the business posted $0.27 earnings per share. The business’s revenue was up 38.0% compared to the same quarter last year. Microchip Technology has set its Q2 2027 guidance at 0.910-0.950 EPS. On average, analysts predict that Microchip Technology will post 3.16 earnings per share for the current year.

Insider Activity at Microchip Technology

In other Microchip Technology news, Director Matthew W. Chapman sold 3,000 shares of the company’s stock in a transaction dated Thursday, May 28th. The shares were sold at an average price of $97.52, for a total value of $292,560.00. Following the transaction, the director directly owned 17,665 shares in the company, valued at $1,722,690.80. This represents a 14.52% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO James Eric Bjornholt sold 837 shares of the firm’s stock in a transaction that occurred on Monday, August 17th. The stock was sold at an average price of $80.26, for a total transaction of $67,177.62. Following the transaction, the chief financial officer directly owned 30,960 shares in the company, valued at approximately $2,484,849.60. This trade represents a 2.63% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 8,837 shares of company stock worth $847,338 in the last 90 days. 1.79% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. Resonant Capital Advisors LLC increased its holdings in Microchip Technology by 0.9% during the 1st quarter. Resonant Capital Advisors LLC now owns 12,542 shares of the semiconductor company’s stock worth $810,000 after purchasing an additional 118 shares during the period. Apella Capital LLC raised its position in Microchip Technology by 4.8% during the 2nd quarter. Apella Capital LLC now owns 2,669 shares of the semiconductor company’s stock valued at $225,000 after purchasing an additional 122 shares in the last quarter. Bridgewater Advisors Inc. lifted its holdings in shares of Microchip Technology by 4.2% in the 2nd quarter. Bridgewater Advisors Inc. now owns 3,331 shares of the semiconductor company’s stock worth $304,000 after buying an additional 133 shares during the period. MCF Advisors LLC grew its position in shares of Microchip Technology by 25.8% during the 4th quarter. MCF Advisors LLC now owns 659 shares of the semiconductor company’s stock worth $42,000 after buying an additional 135 shares in the last quarter. Finally, Gagnon Securities LLC grew its position in shares of Microchip Technology by 0.5% during the 4th quarter. Gagnon Securities LLC now owns 27,162 shares of the semiconductor company’s stock worth $1,731,000 after buying an additional 137 shares in the last quarter. 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.