Citigroup Boosts Microchip Technology (NASDAQ:MCHP) Price Target to $92.00

Microchip Technology (NASDAQ:MCHP) had its target price raised by equities research analysts at Citigroup from $80.00 to $92.00 in a research note issued to investors on Thursday,Benzinga reports. The firm presently has a “buy” rating on the semiconductor company’s stock. Citigroup’s price objective would indicate a potential upside of 22.52% from the company’s previous close.

Several other research firms have also issued reports on MCHP. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Microchip Technology in a report on Wednesday, October 8th. Needham & Company LLC raised their price objective on shares of Microchip Technology from $75.00 to $77.00 and gave the stock a “buy” rating in a report on Tuesday, January 6th. Truist Financial reaffirmed a “hold” rating and issued a $60.00 price target (down previously from $64.00) on shares of Microchip Technology in a report on Friday, November 7th. Morgan Stanley boosted their target price on Microchip Technology from $68.00 to $69.00 and gave the company an “equal weight” rating in a research note on Tuesday, January 6th. Finally, Wolfe Research set a $85.00 price objective on shares of Microchip Technology in a research note on Tuesday, January 6th. One analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, Microchip Technology has an average rating of “Moderate Buy” and an average price target of $79.38.

Microchip Technology Price Performance

Shares of NASDAQ MCHP traded up $0.41 during trading hours on Thursday, hitting $75.09. 3,960,304 shares of the stock were exchanged, compared to its average volume of 8,436,792. Microchip Technology has a 1-year low of $34.13 and a 1-year high of $77.20. The company has a debt-to-equity ratio of 0.80, a quick ratio of 1.20 and a current ratio of 2.25. The company’s fifty day simple moving average is $62.16 and its two-hundred day simple moving average is $65.20. The company has a market cap of $40.58 billion, a PE ratio of -166.86, a price-to-earnings-growth ratio of 2.23 and a beta of 1.46.

Microchip Technology (NASDAQ:MCHP) last posted its quarterly earnings results on Thursday, November 6th. The semiconductor company reported $0.35 earnings per share for the quarter, beating analysts’ consensus estimates of $0.33 by $0.02. The company had revenue of $1.14 billion for the quarter, compared to the consensus estimate of $1.13 billion. Microchip Technology had a negative net margin of 4.39% and a positive return on equity of 5.21%. The firm’s quarterly revenue was down 2.0% compared to the same quarter last year. During the same period last year, the company posted $0.46 EPS. Microchip Technology has set its Q3 2026 guidance at 0.340-0.400 EPS. On average, sell-side analysts predict that Microchip Technology will post 1.03 EPS for the current year.

Insider Buying and Selling at Microchip Technology

In other Microchip Technology news, CFO James Eric Bjornholt sold 4,292 shares of the business’s stock in a transaction on Tuesday, November 25th. The stock was sold at an average price of $50.39, for a total value of $216,273.88. Following the sale, the chief financial officer directly owned 30,089 shares of the company’s stock, valued at approximately $1,516,184.71. The trade was a 12.48% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 1.94% of the stock is owned by insiders.

Institutional Trading of Microchip Technology

A number of hedge funds have recently bought and sold shares of the company. Sagespring Wealth Partners LLC grew its position in shares of Microchip Technology by 2.7% during the second quarter. Sagespring Wealth Partners LLC now owns 5,787 shares of the semiconductor company’s stock worth $407,000 after purchasing an additional 154 shares in the last quarter. Florida Trust Wealth Management Co boosted its stake in shares of Microchip Technology by 3.3% during the 3rd quarter. Florida Trust Wealth Management Co now owns 4,890 shares of the semiconductor company’s stock worth $314,000 after purchasing an additional 157 shares during the period. Clean Yield Group boosted its stake in shares of Microchip Technology by 9.4% during the 3rd quarter. Clean Yield Group now owns 1,890 shares of the semiconductor company’s stock worth $121,000 after purchasing an additional 163 shares during the period. Mechanics Financial Corp raised its holdings in shares of Microchip Technology by 3.4% in the second quarter. Mechanics Financial Corp now owns 5,014 shares of the semiconductor company’s stock worth $353,000 after buying an additional 167 shares during the period. Finally, Slagle Financial LLC grew its holdings in shares of Microchip Technology by 0.3% in the third quarter. Slagle Financial LLC now owns 64,485 shares of the semiconductor company’s stock worth $4,141,000 after purchasing an additional 168 shares during the last quarter. Hedge funds and other institutional investors own 91.51% of the company’s stock.

About Microchip Technology

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.