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.

Microchip Technology (NASDAQ:MCHP) last released its quarterly earnings results on Tuesday, May 7th. The semiconductor company reported $1.48 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.40 by $0.08. Microchip Technology had a net margin of 6.65% and a return on equity of 29.27%. The business had revenue of $1.33 billion for the quarter, compared to the consensus estimate of $1.33 billion. During the same period in the prior year, the company posted $1.40 earnings per share. Microchip Technology’s revenue was up 32.6% compared to the same quarter last year. On average, equities research analysts anticipate that Microchip Technology will post 5.53 earnings per share for the current fiscal year.

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.

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Analyst Recommendations for Microchip Technology (NASDAQ:MCHP)

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