Microchip Technology (NASDAQ:MCHP) Stock Price Expected to Rise, Mizuho Analyst Says

Microchip Technology (NASDAQ:MCHP) had its price target lifted by Mizuho from $58.00 to $68.00 in a research note issued to investors on Tuesday,Benzinga reports. The brokerage currently has an “outperform” rating on the semiconductor company’s stock. Mizuho’s target price would indicate a potential upside of 14.02% from the company’s previous close.

A number of other research analysts also recently issued reports on the stock. B. Riley reiterated a “buy” rating and issued a $75.00 price target (down previously from $85.00) on shares of Microchip Technology in a research note on Friday, February 7th. Raymond James reiterated a “strong-buy” rating and set a $60.00 target price (down previously from $95.00) on shares of Microchip Technology in a research note on Friday, February 7th. StockNews.com downgraded Microchip Technology from a “hold” rating to a “sell” rating in a report on Monday, February 10th. Needham & Company LLC increased their price objective on Microchip Technology from $60.00 to $66.00 and gave the company a “buy” rating in a report on Tuesday. Finally, Evercore ISI restated an “outperform” rating and set a $95.00 target price (down previously from $101.00) on shares of Microchip Technology in a research note on Wednesday, November 6th. Two investment analysts have rated the stock with a sell rating, four have given a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Microchip Technology has a consensus rating of “Moderate Buy” and an average target price of $74.37.

Microchip Technology Stock Performance

NASDAQ:MCHP opened at $59.64 on Tuesday. The company has a market cap of $32.08 billion, a price-to-earnings ratio of 106.50 and a beta of 1.52. The company has a quick ratio of 1.23, a current ratio of 2.25 and a debt-to-equity ratio of 1.12. Microchip Technology has a 52 week low of $50.21 and a 52 week high of $100.57. The company has a fifty day simple moving average of $56.95 and a two-hundred day simple moving average of $66.99.

Microchip Technology (NASDAQ:MCHP) last issued its quarterly earnings results on Thursday, February 6th. The semiconductor company reported $0.13 earnings per share for the quarter, missing the consensus estimate of $0.28 by ($0.15). Microchip Technology had a return on equity of 12.62% and a net margin of 6.49%. As a group, equities analysts anticipate that Microchip Technology will post 1.03 earnings per share for the current fiscal year.

Insider Activity at Microchip Technology

In other news, CFO James Eric Bjornholt sold 3,724 shares of Microchip Technology stock in a transaction dated Tuesday, February 25th. The shares were sold at an average price of $60.88, for a total value of $226,717.12. Following the sale, the chief financial officer now owns 33,272 shares of the company’s stock, valued at $2,025,599.36. The trade was a 10.07 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 2.10% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in MCHP. Janney Montgomery Scott LLC boosted its position in shares of Microchip Technology by 1.2% during the 3rd quarter. Janney Montgomery Scott LLC now owns 94,647 shares of the semiconductor company’s stock worth $7,599,000 after purchasing an additional 1,138 shares in the last quarter. Asset Management One Co. Ltd. increased its position in Microchip Technology by 2.6% during the third quarter. Asset Management One Co. Ltd. now owns 206,360 shares of the semiconductor company’s stock worth $16,569,000 after buying an additional 5,152 shares in the last quarter. Catalyst Capital Advisors LLC raised its stake in Microchip Technology by 48.5% in the 3rd quarter. Catalyst Capital Advisors LLC now owns 768 shares of the semiconductor company’s stock valued at $62,000 after purchasing an additional 251 shares during the last quarter. Sentry Investment Management LLC acquired a new stake in Microchip Technology during the third quarter worth approximately $208,000. Finally, Fiduciary Family Office LLC grew its position in shares of Microchip Technology by 17.9% in the third quarter. Fiduciary Family Office LLC now owns 10,810 shares of the semiconductor company’s stock valued at $868,000 after purchasing an additional 1,641 shares during the period. 91.51% of the stock is owned by hedge funds and other institutional investors.

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.