Microchip Technology (NASDAQ:MCHP) Coverage Initiated by Analysts at Longbow Research
Longbow Research started coverage on shares of Microchip Technology (NASDAQ:MCHP) in a report published on Tuesday, Benzinga reports. The firm issued a neutral rating and a $87.93 price objective on the semiconductor company’s stock.
Several other equities research analysts have also recently weighed in on MCHP. Mizuho upped their price objective on shares of Microchip Technology from $95.00 to $100.00 and gave the stock a buy rating in a research report on Thursday, May 9th. Rosenblatt Securities assumed coverage on shares of FOX in a research report on Monday, May 6th. They set a sell rating and a $33.00 price objective for the company. BidaskClub cut shares of Orthofix Medical from a buy rating to a hold rating in a research report on Monday, May 20th. Wells Fargo & Co reaffirmed a buy rating on shares of Allergan in a research report on Tuesday, June 25th. Finally, Zacks Investment Research cut shares of Hess Midstream Partners from a hold rating to a sell rating in a research report on Tuesday, May 14th. Two analysts have rated the stock with a sell rating, seven have given a hold rating and twelve have issued a buy rating to the company’s stock. Microchip Technology has a consensus rating of Hold and a consensus price target of $102.26.
MCHP stock opened at $89.73 on Tuesday. The company has a debt-to-equity ratio of 1.69, a current ratio of 0.93 and a quick ratio of 0.63. The company has a 50-day simple moving average of $84.71. Microchip Technology has a 52 week low of $60.70 and a 52 week high of $101.35. The firm has a market capitalization of $21.26 billion, a P/E ratio of 14.76, a PEG ratio of 1.21 and a beta of 1.42.
In other news, VP James Eric Bjornholt sold 2,188 shares of the stock in a transaction dated Wednesday, May 22nd. The shares were sold at an average price of $80.99, for a total value of $177,206.12. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 2.13% of the stock is currently owned by corporate insiders.
Several hedge funds have recently bought and sold shares of the company. Osborn Williams & Donohoe LLC bought a new position in Microchip Technology in the 1st quarter valued at approximately $31,000. Clarfeld Financial Advisors LLC acquired a new stake in shares of Microchip Technology during the 4th quarter worth approximately $26,000. Parkside Financial Bank & Trust grew its position in shares of Microchip Technology by 65.3% during the 1st quarter. Parkside Financial Bank & Trust now owns 433 shares of the semiconductor company’s stock worth $36,000 after buying an additional 171 shares during the period. Gemmer Asset Management LLC grew its position in shares of Microchip Technology by 186.5% during the 1st quarter. Gemmer Asset Management LLC now owns 487 shares of the semiconductor company’s stock worth $40,000 after buying an additional 317 shares during the period. Finally, Zions Bancorporation N.A. acquired a new stake in shares of Microchip Technology during the 1st quarter worth approximately $43,000.
About Microchip Technology
Microchip Technology Incorporated develops, manufactures, and sells semiconductor products for various embedded control applications. The company offers general purpose and specialized 8-bit, 16-bit, and 32-bit microcontrollers; 32-bit microprocessors; and microcontrollers for automotive networking, computing, lighting, power supplies, motor control, human machine interface, security, wired connectivity, and wireless connectivity.
Featured Article: Differences Between Momentum Investing and Long Term Investing
Receive News & Ratings for Microchip Technology Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Microchip Technology and related companies with MarketBeat.com's FREE daily email newsletter.