Citigroup Boosts Microchip Technology (NASDAQ:MCHP) Price Target to $113.00

Microchip Technology (NASDAQ:MCHP) had its price objective boosted by research analysts at Citigroup from $91.00 to $113.00 in a report released on Friday,Benzinga reports. The brokerage currently has a “buy” rating on the semiconductor company’s stock. Citigroup’s price objective would suggest a potential upside of 14.14% from the stock’s current price.

MCHP has been the subject of several other reports. BNP Paribas Exane raised Microchip Technology from a “neutral” rating to an “outperform” rating and set a $90.00 price target for the company in a report on Thursday, January 22nd. UBS Group lifted their price objective on Microchip Technology from $85.00 to $95.00 and gave the company a “buy” rating in a report on Monday, January 26th. Stifel Nicolaus set a $90.00 price objective on Microchip Technology in a report on Friday, February 6th. Needham & Company LLC lifted their price objective on Microchip Technology from $84.00 to $120.00 and gave the company a “buy” rating in a report on Friday. Finally, Jefferies Financial Group reaffirmed a “hold” rating on shares of Microchip Technology in a report on Wednesday, February 4th. Three analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and eight have issued a Hold rating to the company’s stock. According to MarketBeat, Microchip Technology has an average rating of “Moderate Buy” and an average target price of $93.83.

Microchip Technology Stock Performance

NASDAQ:MCHP traded down $2.58 during mid-day trading on Friday, hitting $99.00. 12,260,226 shares of the stock were exchanged, compared to its average volume of 9,530,403. The stock has a market capitalization of $53.57 billion, a price-to-earnings ratio of -340.83, a price-to-earnings-growth ratio of 1.38 and a beta of 1.75. The firm’s 50-day simple moving average is $73.27 and its 200 day simple moving average is $69.20. The company has a debt-to-equity ratio of 0.82, a quick ratio of 1.16 and a current ratio of 2.16. Microchip Technology has a fifty-two week low of $48.52 and a fifty-two week high of $105.91.

Microchip Technology (NASDAQ:MCHP) last released its quarterly earnings results on Thursday, May 7th. The semiconductor company reported $0.57 earnings per share for the quarter, topping the consensus estimate of $0.50 by $0.07. The business had revenue of $1.31 billion during the quarter, compared to analysts’ expectations of $1.26 billion. Microchip Technology had a positive return on equity of 7.16% and a negative net margin of 1.57%.The firm’s revenue for the quarter was up 35.1% compared to the same quarter last year. During the same period last year, the firm posted $0.11 EPS. Microchip Technology has set its Q1 2027 guidance at 0.670-0.710 EPS. As a group, equities analysts anticipate that Microchip Technology will post 1.16 EPS for the current fiscal year.

Insider Activity

In other news, CEO Steve Sanghi sold 416,581 shares of Microchip Technology stock in a transaction on Thursday, April 23rd. The stock was sold at an average price of $88.53, for a total value of $36,879,915.93. Following the transaction, the chief executive officer owned 9,495,805 shares in the company, valued at approximately $840,663,616.65. This trade represents a 4.20% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders sold 526,552 shares of company stock valued at $47,130,465. Company insiders own 1.94% of the company’s stock.

Hedge Funds Weigh In On Microchip Technology

Several hedge funds and other institutional investors have recently modified their holdings of MCHP. Winnow Wealth LLC bought a new position in shares of Microchip Technology in the 3rd quarter valued at $25,000. Root Financial Partners LLC bought a new position in shares of Microchip Technology in the 3rd quarter valued at $28,000. EFG International AG bought a new position in shares of Microchip Technology in the 4th quarter valued at $29,000. Miller Capital Partners Inc. bought a new position in shares of Microchip Technology in the 4th quarter valued at $29,000. Finally, Quent Capital LLC bought a new position in shares of Microchip Technology in the 3rd quarter valued at $32,000. Institutional investors own 91.51% of the company’s stock.

Trending Headlines about Microchip Technology

Here are the key news stories impacting Microchip Technology this week:

• Positive Sentiment: Q4 earnings and revenue both beat estimates, signaling that demand is recovering faster than expected across Microchip’s key end markets. MCHP Q4 Earnings Top Estimates, Broad-Based Demand Recovery Aids Sales
• Positive Sentiment: June-quarter guidance came in above consensus, with management pointing to stronger sales ahead and demand tied to industrial, automotive, and AI/data center customers. Microchip Tech forecasts quarterly revenue above estimates on strong chip demand
• Positive Sentiment: Several analysts raised price targets after the results, including JPMorgan, Susquehanna, Needham, Rosenblatt, and Wells Fargo, reinforcing bullish sentiment around the recovery. Microchip Technology Analysts Boost Their Forecasts Following Upbeat Q4 Results
• Positive Sentiment: The company also increased its quarterly dividend, which may appeal to income-oriented investors and reflects confidence in cash generation. Microchip Technology Announces Quarterly Cash Dividend on Common Stock of 45.5 Cents Per Share
• Neutral Sentiment: Microchip announced new Ethernet PHY products aimed at automotive and industrial networking, adding to its longer-term product pipeline. Next-Generation 100/1000BASE-T1 Single Pair Ethernet PHYs Integrate MACsec Security, Time Sensitive Networking and Functional Safety

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.