Microchip Technology’s (MCHP) “Strong-Buy” Rating Reiterated at Raymond James

Microchip Technology (NASDAQ:MCHP)‘s stock had its “strong-buy” rating reiterated by stock analysts at Raymond James in a research note issued on Friday,Benzinga reports. They presently have a $60.00 price objective on the semiconductor company’s stock, down from their previous price objective of $95.00. Raymond James’ target price would indicate a potential upside of 17.24% from the stock’s previous close.

Other equities analysts have also recently issued reports about the stock. The Goldman Sachs Group dropped their target price on shares of Microchip Technology from $72.00 to $63.00 and set a “neutral” rating for the company in a research report on Friday, January 10th. StockNews.com raised shares of Microchip Technology from a “sell” rating to a “hold” rating in a research note on Friday, December 13th. Piper Sandler reiterated an “overweight” rating and issued a $65.00 target price (down previously from $85.00) on shares of Microchip Technology in a report on Friday. Stifel Nicolaus decreased their price objective on shares of Microchip Technology from $90.00 to $87.00 and set a “buy” rating for the company in a report on Tuesday, December 3rd. Finally, Rosenblatt Securities reiterated a “buy” rating and issued a $90.00 target price on shares of Microchip Technology in a research note on Thursday. One research analyst has rated the stock with a sell rating, five have issued a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Microchip Technology currently has an average rating of “Moderate Buy” and an average price target of $77.11.

Microchip Technology Stock Down 3.6 %

Shares of NASDAQ:MCHP traded down $1.94 during midday trading on Friday, reaching $51.18. 9,114,725 shares of the company were exchanged, compared to its average volume of 8,808,756. Microchip Technology has a fifty-two week low of $50.21 and a fifty-two week high of $100.57. The company has a quick ratio of 0.48, a current ratio of 0.88 and a debt-to-equity ratio of 0.71. The stock has a fifty day simple moving average of $58.04 and a two-hundred day simple moving average of $70.26. The firm has a market cap of $27.48 billion, a PE ratio of 35.55 and a beta of 1.50.

Microchip Technology (NASDAQ:MCHP) last issued its quarterly earnings results on Thursday, February 6th. The semiconductor company reported $0.13 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.28 by ($0.15). Microchip Technology had a net margin of 14.22% and a return on equity of 19.47%. As a group, sell-side analysts forecast that Microchip Technology will post 1.31 earnings per share for the current year.

Institutional Trading of Microchip Technology

Several institutional investors and hedge funds have recently made changes to their positions in the company. OFI Invest Asset Management bought a new stake in shares of Microchip Technology in the fourth quarter valued at about $29,000. Personal CFO Solutions LLC grew its stake in Microchip Technology by 89.7% in the fourth quarter. Personal CFO Solutions LLC now owns 13,450 shares of the semiconductor company’s stock valued at $771,000 after purchasing an additional 6,361 shares during the last quarter. Lifeworks Advisors LLC grew its stake in shares of Microchip Technology by 31.3% during the fourth quarter. Lifeworks Advisors LLC now owns 27,096 shares of the semiconductor company’s stock worth $1,554,000 after acquiring an additional 6,458 shares during the last quarter. Larson Financial Group LLC grew its stake in shares of Microchip Technology by 14.6% during the fourth quarter. Larson Financial Group LLC now owns 3,366 shares of the semiconductor company’s stock worth $193,000 after acquiring an additional 428 shares during the last quarter. Finally, Edgestream Partners L.P. grew its stake in shares of Microchip Technology by 232.1% during the fourth quarter. Edgestream Partners L.P. now owns 124,125 shares of the semiconductor company’s stock worth $7,119,000 after acquiring an additional 86,748 shares during the last quarter. 91.51% of the stock is currently owned by 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.