Rosenblatt Securities Reiterates “Buy” Rating for Microchip Technology (NASDAQ:MCHP)

Microchip Technology (NASDAQ:MCHP)‘s stock had its “buy” rating reiterated by equities research analysts at Rosenblatt Securities in a research report issued to clients and investors on Tuesday,Benzinga reports. They presently have a $80.00 price target on the semiconductor company’s stock. Rosenblatt Securities’ target price would indicate a potential upside of 10.99% from the stock’s previous close.

MCHP has been the topic of a number of other research reports. Wells Fargo & Company dropped their price objective on Microchip Technology from $60.00 to $58.00 and set an “equal weight” rating on the stock in a report on Friday, November 7th. Morgan Stanley upped their target price on shares of Microchip Technology from $63.00 to $68.00 and gave the company an “equal weight” rating in a report on Tuesday, November 4th. Cantor Fitzgerald upgraded shares of Microchip Technology from a “neutral” rating to an “overweight” rating and lifted their price target for the stock from $65.00 to $85.00 in a research note on Tuesday, December 16th. Citigroup decreased their price objective on shares of Microchip Technology from $90.00 to $80.00 and set a “buy” rating for the company in a research note on Friday, November 7th. Finally, Truist Financial reaffirmed a “hold” rating and set a $60.00 price objective (down previously from $64.00) on shares of Microchip Technology in a report on Friday, November 7th. One research analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $76.80.

Microchip Technology Price Performance

MCHP stock opened at $72.08 on Tuesday. The business’s 50-day moving average is $60.44 and its two-hundred day moving average is $64.96. The company has a debt-to-equity ratio of 0.80, a current ratio of 2.25 and a quick ratio of 1.20. The firm has a market capitalization of $38.96 billion, a P/E ratio of -160.20, a P/E/G ratio of 2.03 and a beta of 1.46. Microchip Technology has a 1 year low of $34.13 and a 1 year high of $77.20.

Microchip Technology (NASDAQ:MCHP) last issued its earnings results on Thursday, November 6th. The semiconductor company reported $0.35 earnings per share for the quarter, beating the consensus estimate of $0.33 by $0.02. The firm had revenue of $1.14 billion for the quarter, compared to analysts’ expectations 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 revenue was down 2.0% compared to the same quarter last year. During the same quarter last year, the company earned $0.46 earnings per share. Microchip Technology has set its Q3 2026 guidance at 0.340-0.400 EPS. Analysts anticipate that Microchip Technology will post 1.03 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Microchip Technology news, CFO James Eric Bjornholt sold 4,292 shares of Microchip Technology stock in a transaction that occurred 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 transaction, the chief financial officer directly owned 30,089 shares in the company, valued at approximately $1,516,184.71. This trade represents a 12.48% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 1.94% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Winnow Wealth LLC acquired a new stake in shares of Microchip Technology in the 3rd quarter worth approximately $25,000. Root Financial Partners LLC acquired a new position in Microchip Technology during the third quarter worth $28,000. Salomon & Ludwin LLC boosted its position in Microchip Technology by 219.3% during the third quarter. Salomon & Ludwin LLC now owns 479 shares of the semiconductor company’s stock worth $32,000 after purchasing an additional 329 shares in the last quarter. Quent Capital LLC purchased a new position in shares of Microchip Technology in the third quarter valued at $32,000. Finally, MCF Advisors LLC boosted its position in shares of Microchip Technology by 211.2% in the 2nd quarter. MCF Advisors LLC now owns 473 shares of the semiconductor company’s stock worth $33,000 after buying an additional 321 shares in the last quarter. 91.51% of the stock is currently owned by institutional investors and hedge funds.

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.