Citigroup Issues Positive Forecast for Microchip Technology (NASDAQ:MCHP) Stock Price

Microchip Technology (NASDAQ:MCHP) had its price objective upped by equities research analysts at Citigroup from $80.00 to $92.00 in a research 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 would suggest a potential upside of 22.52% from the company’s current price.

MCHP has been the subject of several other research reports. Wells Fargo & Company raised their price target on shares of Microchip Technology from $58.00 to $68.00 and gave the company an “equal weight” rating in a research report on Wednesday, January 7th. Mizuho lifted their target price on Microchip Technology from $80.00 to $83.00 and gave the stock an “outperform” rating in a research report on Friday, January 9th. Needham & Company LLC increased their target price on shares of Microchip Technology from $75.00 to $77.00 and gave the stock a “buy” rating in a research note on Tuesday, January 6th. Piper Sandler boosted their price objective on shares of Microchip Technology from $80.00 to $85.00 and gave the company an “overweight” rating in a research note on Thursday. Finally, KeyCorp reaffirmed an “overweight” rating on shares of Microchip Technology in a report on Wednesday, December 3rd. One analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, Microchip Technology has a consensus rating of “Moderate Buy” and an average target price of $79.38.

Microchip Technology Stock Performance

Shares of Microchip Technology stock traded up $0.41 on Thursday, reaching $75.09. 3,960,304 shares of the stock were exchanged, compared to its average volume of 8,436,792. The firm has a market capitalization of $40.58 billion, a price-to-earnings ratio of -166.86, a PEG ratio of 2.23 and a beta of 1.46. Microchip Technology has a twelve month low of $34.13 and a twelve month high of $77.20. The business has a 50 day moving average price of $62.16 and a two-hundred day moving average price of $65.20. The company has a quick ratio of 1.20, a current ratio of 2.25 and a debt-to-equity ratio of 0.80.

Microchip Technology (NASDAQ:MCHP) last released its earnings results on Thursday, November 6th. The semiconductor company reported $0.35 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.33 by $0.02. The business had revenue of $1.14 billion during the quarter, compared to analyst estimates of $1.13 billion. Microchip Technology had a negative net margin of 4.39% and a positive return on equity of 5.21%. The company’s revenue for the quarter was down 2.0% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.46 earnings per share. Microchip Technology has set its Q3 2026 guidance at 0.340-0.400 EPS. Analysts anticipate that Microchip Technology will post 1.03 earnings per share for the current fiscal year.

Insider Transactions at Microchip Technology

In related news, CFO James Eric Bjornholt sold 4,292 shares of the company’s stock in a transaction on 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 $1,516,184.71. This represents a 12.48% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 1.94% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of MCHP. Vanguard Group Inc. lifted its stake 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 buying an additional 1,507,554 shares during the last quarter. State Street Corp boosted its position in Microchip Technology by 8.5% during the second quarter. State Street Corp now owns 31,888,814 shares of the semiconductor company’s stock valued at $2,244,016,000 after purchasing an additional 2,489,258 shares during the last quarter. Invesco Ltd. grew its position in Microchip Technology by 10.4% in the second quarter. Invesco Ltd. now owns 18,452,546 shares of the semiconductor company’s stock worth $1,298,506,000 after acquiring an additional 1,745,515 shares in the last quarter. Boston Partners raised its stake in shares of Microchip Technology by 9.5% in the 3rd quarter. Boston Partners now owns 16,234,332 shares of the semiconductor company’s stock valued at $1,044,024,000 after acquiring an additional 1,406,885 shares in the last quarter. Finally, Geode Capital Management LLC boosted its stake in Microchip Technology by 2.4% during the 2nd quarter. Geode Capital Management LLC now owns 14,842,341 shares of the semiconductor company’s stock valued at $1,040,544,000 after purchasing an additional 343,210 shares during the period. 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.