Citigroup Forecasts Strong Price Appreciation for Microchip Technology (NASDAQ:MCHP) Stock

Microchip Technology (NASDAQ:MCHP) had its target price increased by Citigroup from $80.00 to $92.00 in a note issued to investors on Thursday,Benzinga reports. The brokerage presently has a “buy” rating on the semiconductor company’s stock. Citigroup’s price objective indicates a potential upside of 23.16% from the company’s previous close.

A number of other equities analysts also recently weighed in on the stock. KeyCorp reissued an “overweight” rating on shares of Microchip Technology in a report on Wednesday, December 3rd. Wells Fargo & Company upped their price objective on Microchip Technology from $58.00 to $68.00 and gave the company an “equal weight” rating in a research note on Wednesday, January 7th. Piper Sandler raised their target price on Microchip Technology from $80.00 to $85.00 and gave the stock an “overweight” rating in a research report on Thursday. B. Riley boosted their target price on Microchip Technology from $85.00 to $95.00 and gave the company a “buy” rating in a research note on Monday, January 12th. Finally, Weiss Ratings restated a “sell (d+)” rating on shares of Microchip Technology in a research note on Wednesday, October 8th. One research analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, six have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $79.38.

Microchip Technology Stock Up 0.3%

Shares of NASDAQ:MCHP opened at $74.70 on Thursday. The company has a quick ratio of 1.20, a current ratio of 2.25 and a debt-to-equity ratio of 0.80. The business’s 50 day moving average is $62.83 and its 200 day moving average is $65.29. Microchip Technology has a 12-month low of $34.13 and a 12-month high of $77.20. The stock has a market cap of $40.37 billion, a price-to-earnings ratio of -166.00, a PEG ratio of 2.24 and a beta of 1.46.

Microchip Technology (NASDAQ:MCHP) last posted its earnings results on Thursday, November 6th. The semiconductor company reported $0.35 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.33 by $0.02. Microchip Technology had a negative net margin of 4.39% and a positive return on equity of 5.21%. The firm had revenue of $1.14 billion during the quarter, compared to analyst estimates of $1.13 billion. During the same quarter in the prior year, the business posted $0.46 EPS. The business’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. On average, sell-side analysts forecast that Microchip Technology will post 1.03 earnings per share for the current fiscal year.

Insider Buying and Selling at Microchip Technology

In other news, CFO James Eric Bjornholt sold 4,292 shares of the stock in a transaction dated Tuesday, November 25th. The shares were sold at an average price of $50.39, for a total value of $216,273.88. Following the sale, the chief financial officer directly owned 30,089 shares of the company’s stock, valued at approximately $1,516,184.71. This represents a 12.48% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 1.94% of the stock is currently owned by corporate insiders.

Institutional Trading of Microchip Technology

Several institutional investors and hedge funds have recently bought and sold shares of MCHP. Winnow Wealth LLC purchased a new position in shares of Microchip Technology during the 3rd quarter valued at $25,000. Root Financial Partners LLC bought a new stake in Microchip Technology during the third quarter valued at $28,000. Salomon & Ludwin LLC grew its position in Microchip Technology by 219.3% during the third quarter. Salomon & Ludwin LLC now owns 479 shares of the semiconductor company’s stock worth $32,000 after buying an additional 329 shares in the last quarter. Quent Capital LLC bought a new position in Microchip Technology in the 3rd quarter worth about $32,000. Finally, MCF Advisors LLC raised its holdings in shares of Microchip Technology by 211.2% in 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 in the last quarter. 91.51% of the stock is currently owned by hedge funds and other 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.