Microchip Technology (NASDAQ:MCHP) Given New $78.00 Price Target at Bank of America

Microchip Technology (NASDAQ:MCHP) had its target price boosted by equities research analysts at Bank of America from $72.00 to $78.00 in a research note issued to investors on Wednesday,Benzinga reports. The brokerage currently has a “neutral” rating on the semiconductor company’s stock. Bank of America‘s price target points to a potential upside of 3.04% from the company’s previous close.

Several other equities analysts have also weighed in on MCHP. Susquehanna dropped their price objective on shares of Microchip Technology from $85.00 to $75.00 and set a “positive” rating on the stock in a research report on Friday, November 7th. Morgan Stanley upped their price target on shares of Microchip Technology from $68.00 to $69.00 and gave the company an “equal weight” rating in a research note on Tuesday, January 6th. KeyCorp reissued an “overweight” rating on shares of Microchip Technology in a report on Wednesday, December 3rd. Wells Fargo & Company raised their price objective on shares of Microchip Technology from $58.00 to $68.00 and gave the stock an “equal weight” rating in a research report on Wednesday, January 7th. Finally, Stifel Nicolaus set a $80.00 target price on Microchip Technology and gave the company a “buy” rating in a research report on Tuesday, January 6th. One analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, six have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $79.67.

Microchip Technology Stock Performance

NASDAQ:MCHP traded up $2.53 during mid-day trading on Wednesday, hitting $75.70. The stock had a trading volume of 767,900 shares, compared to its average volume of 8,164,327. The company has a debt-to-equity ratio of 0.80, a quick ratio of 1.20 and a current ratio of 2.25. The company’s 50 day simple moving average is $63.59 and its 200 day simple moving average is $65.22. The stock has a market cap of $40.91 billion, a price-to-earnings ratio of -167.78, a PEG ratio of 2.22 and a beta of 1.46. Microchip Technology has a twelve month low of $34.13 and a twelve month high of $77.20.

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 positive return on equity of 5.21% and a negative net margin of 4.39%.The business had revenue of $1.14 billion for the quarter, compared to analyst estimates of $1.13 billion. During the same period in the previous year, the firm earned $0.46 EPS. The firm’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, equities research analysts forecast that Microchip Technology will post 1.03 earnings per share for the current year.

Insider Activity

In related news, CFO James Eric Bjornholt sold 4,292 shares of the stock in a transaction that occurred on Tuesday, November 25th. The stock was sold at an average price of $50.39, for a total transaction of $216,273.88. Following the sale, the chief financial officer 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 sale was disclosed in a filing with the SEC, which is available through the SEC website. Company insiders own 1.94% of the company’s stock.

Institutional Trading of Microchip Technology

A number of institutional investors have recently modified their holdings of MCHP. Winnow Wealth LLC bought a new position in shares of Microchip Technology in the third quarter worth $25,000. Root Financial Partners LLC bought a new position in Microchip Technology in the 3rd quarter valued at about $28,000. Salomon & Ludwin LLC raised its position in shares of Microchip Technology by 219.3% in the 3rd quarter. Salomon & Ludwin LLC now owns 479 shares of the semiconductor company’s stock valued at $32,000 after buying an additional 329 shares in the last quarter. Quent Capital LLC acquired a new position in shares of Microchip Technology in the 3rd quarter valued at approximately $32,000. Finally, MCF Advisors LLC lifted its holdings in shares of Microchip Technology by 211.2% during the 2nd quarter. MCF Advisors LLC now owns 473 shares of the semiconductor company’s stock worth $33,000 after acquiring an additional 321 shares during the period. 91.51% of the stock is currently owned by 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.