Microchip Technology (NASDAQ:MCHP) Price Target Raised to $77.00 at Needham & Company LLC

Microchip Technology (NASDAQ:MCHP) had its price target upped by stock analysts at Needham & Company LLC from $75.00 to $77.00 in a report issued on Tuesday,Benzinga reports. The brokerage presently has a “buy” rating on the semiconductor company’s stock. Needham & Company LLC’s price objective suggests a potential upside of 14.82% from the stock’s previous close.

Several other equities analysts also recently commented on MCHP. Cantor Fitzgerald upgraded Microchip Technology from a “neutral” rating to an “overweight” rating and increased their target price for the company from $65.00 to $85.00 in a research report on Tuesday, December 16th. Bank of America upped their price objective on Microchip Technology from $67.00 to $72.00 and gave the company a “neutral” rating in a research note on Friday, December 5th. TD Cowen dropped their price objective on shares of Microchip Technology from $65.00 to $60.00 and set a “hold” rating for the company in a report on Friday, November 7th. Stifel Nicolaus reduced their target price on shares of Microchip Technology from $82.00 to $75.00 and set a “buy” rating on the stock in a report on Friday, November 7th. Finally, KeyCorp restated an “overweight” rating on shares of Microchip Technology in a research report on Wednesday, December 3rd. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating, six have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $76.11.

Microchip Technology Price Performance

Shares of NASDAQ:MCHP opened at $67.06 on Tuesday. Microchip Technology has a one year low of $34.13 and a one year high of $77.20. The company has a debt-to-equity ratio of 0.80, a current ratio of 2.25 and a quick ratio of 1.20. The company has a market cap of $36.24 billion, a price-to-earnings ratio of -149.02, a PEG ratio of 2.03 and a beta of 1.46. The firm has a 50 day simple moving average of $60.44 and a 200 day simple moving average of $64.96.

Microchip Technology (NASDAQ:MCHP) last posted its earnings results on Thursday, November 6th. The semiconductor company reported $0.35 earnings per share for the quarter, topping analysts’ consensus estimates 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 for the quarter, compared to analysts’ expectations of $1.13 billion. During the same quarter in the previous year, the firm posted $0.46 earnings per share. The company’s revenue was down 2.0% on a year-over-year basis. Microchip Technology has set its Q3 2026 guidance at 0.340-0.400 EPS. Research analysts predict that Microchip Technology will post 1.03 earnings per share for the current fiscal year.

Insider Buying and Selling at Microchip Technology

In related news, CFO James Eric Bjornholt sold 4,292 shares of Microchip Technology stock in a transaction on Tuesday, November 25th. The shares were sold at an average price of $50.39, for a total transaction of $216,273.88. Following the completion of the transaction, the chief financial officer owned 30,089 shares of the company’s stock, valued at $1,516,184.71. This trade represents a 12.48% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 1.94% of the stock is currently owned by company insiders.

Institutional Trading of Microchip Technology

A number of large investors have recently bought and sold shares of MCHP. AQR Capital Management LLC boosted its position in shares of Microchip Technology by 51.3% during the 1st quarter. AQR Capital Management LLC now owns 17,201 shares of the semiconductor company’s stock valued at $827,000 after purchasing an additional 5,835 shares in the last quarter. Alliancebernstein L.P. lifted its stake in Microchip Technology by 0.9% in the first quarter. Alliancebernstein L.P. now owns 619,195 shares of the semiconductor company’s stock valued at $29,975,000 after buying an additional 5,409 shares during the period. NewEdge Advisors LLC boosted its holdings in shares of Microchip Technology by 61.9% during the 1st quarter. NewEdge Advisors LLC now owns 40,512 shares of the semiconductor company’s stock worth $1,961,000 after buying an additional 15,491 shares in the last quarter. Kestra Investment Management LLC boosted its holdings in shares of Microchip Technology by 4,141.2% during the 1st quarter. Kestra Investment Management LLC now owns 2,163 shares of the semiconductor company’s stock worth $105,000 after buying an additional 2,112 shares in the last quarter. Finally, MBB Public Markets I LLC acquired a new stake in shares of Microchip Technology during the 1st quarter worth approximately $294,000. 91.51% of the stock is currently owned by institutional investors and hedge funds.

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.