Microchip Technology (NASDAQ:MCHP) Earns Equal Weight Rating from Analysts at Barclays

Barclays began coverage on shares of Microchip Technology (NASDAQ:MCHP) in a report issued on Thursday. The firm set an “equal weight” rating and a $80.00 price target on the semiconductor company’s stock. Barclays‘s price target points to a potential downside of 3.06% from the stock’s previous close.

Several other research firms also recently weighed in on MCHP. Susquehanna increased their price target on Microchip Technology from $75.00 to $90.00 and gave the stock a “positive” rating in a research note on Thursday, January 22nd. Needham & Company LLC lifted their price objective on shares of Microchip Technology from $77.00 to $84.00 and gave the company a “buy” rating in a research note on Friday, February 6th. TD Cowen dropped their target price on Microchip Technology from $65.00 to $60.00 and set a “hold” rating on the stock in a research report on Friday, November 7th. Zacks Research upgraded Microchip Technology from a “hold” rating to a “strong-buy” rating in a research report on Monday, January 26th. Finally, Stifel Nicolaus set a $90.00 price objective on Microchip Technology in a report on Friday, February 6th. Four research analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and seven have assigned a Hold rating to the company. According to MarketBeat.com, Microchip Technology currently has a consensus rating of “Moderate Buy” and an average target price of $86.00.

Microchip Technology Stock Performance

Shares of NASDAQ MCHP traded up $1.78 during mid-day trading on Thursday, reaching $82.53. 1,276,375 shares of the company’s stock were exchanged, compared to its average volume of 9,929,544. The firm has a market capitalization of $44.66 billion, a price-to-earnings ratio of -284.58, a price-to-earnings-growth ratio of 1.94 and a beta of 1.46. The firm has a 50-day moving average price of $71.17 and a two-hundred day moving average price of $65.69. The company has a debt-to-equity ratio of 0.82, a current ratio of 2.16 and a quick ratio of 1.16. Microchip Technology has a 52 week low of $34.13 and a 52 week high of $83.35.

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

Insider Activity at Microchip Technology

In other Microchip Technology news, CEO Steve Sanghi sold 98,814 shares of the business’s stock in a transaction on Wednesday, January 28th. The shares were sold at an average price of $80.55, for a total value of $7,959,467.70. Following the completion of the sale, the chief executive officer directly owned 9,922,319 shares of the company’s stock, valued at $799,242,795.45. The trade was a 0.99% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO James Eric Bjornholt sold 4,292 shares of the firm’s 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 transaction, the chief financial officer directly owned 30,089 shares in the company, valued at $1,516,184.71. This trade represents a 12.48% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last ninety days, insiders sold 121,615 shares of company stock valued at $9,641,654. 1.94% of the stock is owned by insiders.

Institutional Investors Weigh In On Microchip Technology

Institutional investors and hedge funds have recently bought and sold shares of the business. Norges Bank bought a new position in shares of Microchip Technology during the fourth quarter valued at $664,564,000. Dodge & Cox grew its position in Microchip Technology by 958.4% during the 2nd quarter. Dodge & Cox now owns 6,339,800 shares of the semiconductor company’s stock valued at $446,132,000 after purchasing an additional 5,740,827 shares during the last quarter. Boston Partners increased its stake in Microchip Technology by 38.2% during the 2nd quarter. Boston Partners now owns 14,827,447 shares of the semiconductor company’s stock valued at $1,041,868,000 after purchasing an additional 4,101,034 shares in the last quarter. State Street Corp raised its holdings in Microchip Technology by 8.5% in the second quarter. State Street Corp now owns 31,888,814 shares of the semiconductor company’s stock worth $2,244,016,000 after buying an additional 2,489,258 shares during the last quarter. Finally, Barrow Hanley Mewhinney & Strauss LLC lifted its stake in shares of Microchip Technology by 25.7% in the third quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 11,048,057 shares of the semiconductor company’s stock worth $709,506,000 after buying an additional 2,257,932 shares in the last quarter. Hedge funds and other institutional investors 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.