Microchip Technology (NASDAQ:MCHP) Stock Rating Upgraded by Zacks Research

Microchip Technology (NASDAQ:MCHP) was upgraded by equities research analysts at Zacks Research from a “hold” rating to a “strong-buy” rating in a report released on Tuesday,Zacks.com reports.

Several other analysts have also recently issued reports on MCHP. Argus raised Microchip Technology to a “strong-buy” rating in a research note on Monday, February 9th. Barclays raised their target price on Microchip Technology from $80.00 to $105.00 and gave the stock an “equal weight” rating in a research note on Monday. KeyCorp reissued an “overweight” rating and issued a $85.00 target price on shares of Microchip Technology in a research note on Friday, February 6th. Weiss Ratings cut Microchip Technology from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Friday, May 8th. Finally, Cantor Fitzgerald reissued an “overweight” rating and issued a $125.00 target price on shares of Microchip Technology in a research note on Wednesday. Four investment analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating, six have issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $97.52.

Microchip Technology Stock Down 1.0%

Shares of NASDAQ:MCHP opened at $96.71 on Tuesday. The stock’s 50-day moving average price is $75.13 and its 200-day moving average price is $70.10. Microchip Technology has a 12-month low of $48.52 and a 12-month high of $105.91. The stock has a market capitalization of $52.33 billion, a P/E ratio of 460.55, a price-to-earnings-growth ratio of 1.20 and a beta of 1.75. The company has a current ratio of 2.09, a quick ratio of 1.18 and a debt-to-equity ratio of 0.85.

Microchip Technology (NASDAQ:MCHP) last announced its quarterly earnings data on Thursday, May 7th. The semiconductor company reported $0.57 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.50 by $0.07. The firm had revenue of $1.31 billion for the quarter, compared to analysts’ expectations of $1.26 billion. Microchip Technology had a return on equity of 10.87% and a net margin of 4.88%.The company’s revenue for the quarter was up 35.1% compared to the same quarter last year. During the same period last year, the firm earned $0.11 earnings per share. Microchip Technology has set its Q1 2027 guidance at 0.670-0.710 EPS. On average, equities analysts anticipate that Microchip Technology will post 2.21 earnings per share for the current year.

Insiders Place Their Bets

In other Microchip Technology news, CEO Steve Sanghi sold 76,469 shares of Microchip Technology stock in a transaction that occurred on Friday, May 1st. The stock was sold at an average price of $93.58, for a total transaction of $7,155,969.02. Following the sale, the chief executive officer directly owned 9,385,834 shares of the company’s stock, valued at approximately $878,326,345.72. The trade was a 0.81% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders sold 526,552 shares of company stock worth $47,130,465. Insiders own 1.94% of the company’s stock.

Institutional Trading of Microchip Technology

Several large investors have recently bought and sold shares of MCHP. Winnow Wealth LLC bought a new stake in Microchip Technology during the 3rd quarter valued at approximately $25,000. Root Financial Partners LLC bought a new stake in Microchip Technology during the 3rd quarter valued at approximately $28,000. EFG International AG purchased a new position in shares of Microchip Technology during the fourth quarter valued at approximately $29,000. Miller Capital Partners Inc. bought a new stake in shares of Microchip Technology in the 4th quarter worth approximately $29,000. Finally, Quent Capital LLC bought a new stake in shares of Microchip Technology in the 3rd quarter worth approximately $32,000. 91.51% of the stock is owned by institutional investors.

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.