Microchip Technology (NASDAQ:MCHP) Upgraded to “Overweight” at Cantor Fitzgerald

Microchip Technology (NASDAQ:MCHP) was upgraded by research analysts at Cantor Fitzgerald from a “neutral” rating to an “overweight” rating in a research report issued to clients and investors on Tuesday,Benzinga reports. The firm currently has a $85.00 price objective on the semiconductor company’s stock, up from their previous price objective of $65.00. Cantor Fitzgerald’s target price would suggest a potential upside of 26.53% from the stock’s previous close.

A number of other research analysts have also recently commented on MCHP. Weiss Ratings restated a “sell (d+)” rating on shares of Microchip Technology in a research note on Wednesday, October 8th. Bank of America increased their target price on Microchip Technology from $67.00 to $72.00 and gave the stock a “neutral” rating in a research note on Friday, December 5th. Stifel Nicolaus dropped their target price on Microchip Technology from $82.00 to $75.00 and set a “buy” rating for the company in a research report on Friday, November 7th. Truist Financial reiterated a “hold” rating and set a $60.00 price target (down from $64.00) on shares of Microchip Technology in a research note on Friday, November 7th. Finally, KeyCorp reissued an “overweight” rating on shares of Microchip Technology in a research note on Wednesday, December 3rd. One research analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, six have assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, Microchip Technology presently has a consensus rating of “Moderate Buy” and an average price target of $76.00.

Microchip Technology Stock Performance

Shares of MCHP stock opened at $67.18 on Tuesday. 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 firm has a market cap of $36.31 billion, a PE ratio of -149.29, a price-to-earnings-growth ratio of 2.12 and a beta of 1.47. The company has a 50-day moving average of $60.43 and a two-hundred day moving average of $65.06. Microchip Technology has a 1-year low of $34.13 and a 1-year high of $77.20.

Microchip Technology (NASDAQ:MCHP) last released its quarterly earnings results on Thursday, November 6th. The semiconductor company reported $0.35 earnings per share (EPS) for the quarter, beating 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 business had revenue of $1.14 billion for the quarter, compared to the consensus estimate of $1.13 billion. During the same period in the previous year, the firm earned $0.46 EPS. The business’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. On average, analysts predict that Microchip Technology will post 1.03 EPS for the current year.

Insider Activity at Microchip Technology

In related news, CFO James Eric Bjornholt sold 4,292 shares of the company’s stock in a transaction that occurred 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 sale, the chief financial officer directly owned 30,089 shares in the company, valued at approximately $1,516,184.71. This represents a 12.48% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 1.94% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in MCHP. Brooklyn Investment Group lifted its position in shares of Microchip Technology by 89.1% during the 1st quarter. Brooklyn Investment Group now owns 4,464 shares of the semiconductor company’s stock worth $216,000 after purchasing an additional 2,103 shares during the last quarter. Banco Bilbao Vizcaya Argentaria S.A. raised its stake in Microchip Technology by 22.6% in the first quarter. Banco Bilbao Vizcaya Argentaria S.A. now owns 55,213 shares of the semiconductor company’s stock valued at $2,683,000 after buying an additional 10,178 shares in the last quarter. Venture Visionary Partners LLC lifted its holdings in Microchip Technology by 99.3% during the 1st quarter. Venture Visionary Partners LLC now owns 10,623 shares of the semiconductor company’s stock worth $514,000 after buying an additional 5,293 shares during the last quarter. Level Four Advisory Services LLC boosted its position in shares of Microchip Technology by 71.5% during the 1st quarter. Level Four Advisory Services LLC now owns 115,958 shares of the semiconductor company’s stock worth $5,614,000 after acquiring an additional 48,360 shares in the last quarter. Finally, Capital Analysts LLC raised its position in shares of Microchip Technology by 7.7% during the 1st quarter. Capital Analysts LLC now owns 57,457 shares of the semiconductor company’s stock worth $2,781,000 after acquiring an additional 4,116 shares in the last quarter. Institutional investors and hedge funds own 91.51% of the company’s stock.

Microchip Technology Company Profile

Microchip Technology Incorporated engages in the development, manufacture, and sale of smart, connected, and secure embedded control solutions in the Americas, Europe, and Asia. The company offers general purpose 8-bit, 16-bit, and 32-bit mixed-signal microcontrollers; 32-bit embedded mixed-signal microprocessors; and specialized microcontrollers for automotive, industrial, computing, communications, lighting, power supplies, motor control, human machine interface, security, wired connectivity, and wireless connectivity applications.