Microchip Technology (NASDAQ:MCHP) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of Microchip Technology (NASDAQ:MCHP) from a hold rating to a buy rating in a report released on Tuesday morning.

MCHP has been the topic of a number of other research reports. Wells Fargo & Company boosted their target price on shares of Microchip Technology from $68.00 to $70.00 and gave the company an “equal weight” rating in a report on Friday, February 6th. UBS Group increased their price target on shares of Microchip Technology from $85.00 to $95.00 and gave the stock a “buy” rating in a research note on Monday, January 26th. Citigroup dropped their price objective on shares of Microchip Technology from $92.00 to $91.00 and set a “buy” rating on the stock in a research note on Friday, February 6th. JPMorgan Chase & Co. upped their price objective on shares of Microchip Technology from $85.00 to $95.00 and gave the stock an “overweight” rating in a report on Friday, February 6th. Finally, Zacks Research downgraded shares of Microchip Technology from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, February 24th. Three equities research analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating, seven have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, Microchip Technology presently has an average rating of “Moderate Buy” and an average target price of $86.00.

Microchip Technology Trading Up 0.3%

NASDAQ:MCHP opened at $65.60 on Tuesday. The company has a 50-day moving average price of $71.42 and a 200-day moving average price of $66.51. The stock has a market cap of $35.50 billion, a price-to-earnings ratio of -226.21, a P/E/G ratio of 0.90 and a beta of 1.49. The company has a current ratio of 2.16, a quick ratio of 1.16 and a debt-to-equity ratio of 0.82. Microchip Technology has a 12 month low of $34.13 and a 12 month high of $83.35.

Microchip Technology (NASDAQ:MCHP) last released its earnings results on Thursday, February 5th. The semiconductor company reported $0.44 EPS for the quarter, beating analysts’ consensus estimates of $0.43 by $0.01. The company had revenue of $1.19 billion during the quarter, compared to analysts’ expectations of $1.19 billion. Microchip Technology had a positive return on equity of 7.16% and a negative net margin of 1.57%.The firm’s revenue for the quarter was up 15.6% compared to the same quarter last year. During the same quarter last year, the business posted $0.20 EPS. Microchip Technology has set its Q4 2026 guidance at 0.480-0.520 EPS. Equities analysts predict that Microchip Technology will post 1.03 EPS for the current year.

Microchip Technology Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, March 10th. Stockholders of record on Monday, February 23rd were given a $0.455 dividend. This represents a $1.82 annualized dividend and a dividend yield of 2.8%. The ex-dividend date of this dividend was Monday, February 23rd. Microchip Technology’s payout ratio is currently -627.59%.

Insider Transactions at Microchip Technology

In related news, CEO Steve Sanghi sold 98,814 shares of the stock in a transaction dated Wednesday, January 28th. The shares were sold at an average price of $80.55, for a total transaction of $7,959,467.70. Following the sale, the chief executive officer directly owned 9,922,319 shares of the company’s stock, valued at approximately $799,242,795.45. This represents a 0.99% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 1.94% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. Norges Bank purchased a new stake in shares of Microchip Technology during the fourth quarter valued at approximately $664,564,000. Dodge & Cox lifted its position in Microchip Technology by 958.4% in the 2nd quarter. Dodge & Cox now owns 6,339,800 shares of the semiconductor company’s stock valued at $446,132,000 after acquiring an additional 5,740,827 shares in the last quarter. Barclays PLC lifted its position in Microchip Technology by 66.5% in the 4th quarter. Barclays PLC now owns 13,996,883 shares of the semiconductor company’s stock valued at $891,881,000 after acquiring an additional 5,590,210 shares in the last quarter. State Street Corp boosted its stake in Microchip Technology by 8.5% during the 2nd 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. Finally, Barrow Hanley Mewhinney & Strauss LLC boosted its stake in Microchip Technology by 25.7% during the 3rd quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 11,048,057 shares of the semiconductor company’s stock valued at $709,506,000 after purchasing an additional 2,257,932 shares during the last quarter. 91.51% of the stock is owned by hedge funds and other institutional investors.

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.