Wall Street Zen Upgrades Microchip Technology (NASDAQ:MCHP) to “Buy”

Microchip Technology (NASDAQ:MCHP) was upgraded by equities research analysts at Wall Street Zen from a “hold” rating to a “buy” rating in a report issued on Sunday.

Other equities research analysts also recently issued reports about the stock. Mizuho boosted their price target on shares of Microchip Technology from $83.00 to $90.00 and gave the company an “outperform” rating in a research note on Friday, February 6th. BNP Paribas Exane upgraded Microchip Technology from a “neutral” rating to an “outperform” rating and set a $90.00 price target on the stock in a research note on Thursday, January 22nd. Jefferies Financial Group reaffirmed a “hold” rating on shares of Microchip Technology in a research note on Wednesday, February 4th. KeyCorp restated an “overweight” rating and set a $85.00 target price on shares of Microchip Technology in a report on Friday, February 6th. Finally, Weiss Ratings upgraded shares of Microchip Technology from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Friday, February 6th. Three equities research analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and eight have assigned a Hold rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $86.00.

Microchip Technology Trading Down 1.3%

MCHP opened at $61.94 on Friday. The stock has a market capitalization of $33.52 billion, a PE ratio of -213.59, a P/E/G ratio of 1.56 and a beta of 1.45. Microchip Technology has a one year low of $34.13 and a one year high of $83.35. The company has a debt-to-equity ratio of 0.82, a quick ratio of 1.16 and a current ratio of 2.16. The business’s 50 day moving average price is $74.21 and its 200 day moving average price is $66.61.

Microchip Technology (NASDAQ:MCHP) last announced its quarterly earnings results on Thursday, February 5th. The semiconductor company reported $0.44 EPS for the quarter, beating the consensus estimate of $0.43 by $0.01. The business had revenue of $1.19 billion for the quarter, compared to analyst estimates of $1.19 billion. Microchip Technology had a positive return on equity of 7.16% and a negative net margin of 1.57%.The company’s quarterly revenue was up 15.6% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.20 EPS. Microchip Technology has set its Q4 2026 guidance at 0.480-0.520 EPS. As a group, equities research analysts expect that Microchip Technology will post 1.03 EPS for the current year.

Insider Buying and Selling

In other Microchip Technology news, CEO Steve Sanghi sold 98,814 shares of the firm’s stock in a transaction on Wednesday, January 28th. The stock was sold at an average price of $80.55, for a total value of $7,959,467.70. Following the sale, the chief executive officer directly owned 9,922,319 shares in the company, valued at $799,242,795.45. This trade represents a 0.99% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 1.94% of the stock is owned by company insiders.

Institutional Trading of Microchip Technology

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. lifted its holdings in shares of Microchip Technology by 2.1% in the 3rd 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 last quarter. PNC Financial Services Group Inc. boosted its holdings in shares of Microchip Technology by 13.5% in the third quarter. PNC Financial Services Group Inc. now owns 209,384 shares of the semiconductor company’s stock valued at $13,447,000 after acquiring an additional 24,963 shares during the period. Assenagon Asset Management S.A. increased its holdings in shares of Microchip Technology by 498.0% in the 3rd quarter. Assenagon Asset Management S.A. now owns 2,034,797 shares of the semiconductor company’s stock valued at $130,675,000 after acquiring an additional 1,694,533 shares during the period. Voya Investment Management LLC raised its holdings in shares of Microchip Technology by 37.2% in the third quarter. Voya Investment Management LLC now owns 3,361,581 shares of the semiconductor company’s stock valued at $215,881,000 after buying an additional 911,731 shares during the last quarter. Finally, U.S. Capital Wealth Advisors LLC purchased a new stake in Microchip Technology during the 3rd quarter valued at approximately $3,698,000. 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.