Microchip Technology Inc. (NASDAQ:MCHP) shares passed above its fifty day moving average during trading on Friday . The stock has a fifty day moving average of $86.28 and traded as high as $93.83. Microchip Technology shares last traded at $93.08, with a volume of 39,223 shares.

A number of equities research analysts have weighed in on MCHP shares. BMO Capital Markets upped their target price on goeasy from C$55.00 to C$60.00 in a research report on Thursday, May 9th. Mizuho upped their target price on Microchip Technology from $95.00 to $100.00 and gave the stock a “buy” rating in a research report on Thursday, May 9th. Zacks Investment Research downgraded Farmland Partners from a “hold” rating to a “sell” rating in a research report on Friday, July 12th. Wells Fargo & Co restated a “buy” rating on shares of Allergan in a research report on Tuesday, June 25th. Finally, Rosenblatt Securities started coverage on FOX in a report on Monday, May 6th. They issued a “sell” rating and a $33.00 price target on the stock. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating and twelve have assigned a buy rating to the company. Microchip Technology presently has an average rating of “Hold” and a consensus price target of $102.89.

The business’s 50 day simple moving average is $86.28. 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 stock has a market capitalization of $21.60 billion, a P/E ratio of 15.18, a price-to-earnings-growth ratio of 1.23 and a beta of 1.42.

Microchip Technology (NASDAQ:MCHP) last announced its earnings results on Tuesday, May 7th. The semiconductor company reported $1.48 earnings per share (EPS) for the quarter, beating the 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 company had revenue of $1.33 billion for the quarter, compared to the consensus estimate of $1.33 billion. During the same period in the previous year, the business earned $1.40 EPS. The company’s revenue was up 32.6% on a year-over-year basis. Equities research analysts predict that Microchip Technology Inc. will post 5.53 EPS for the current year.

In other Microchip Technology news, VP James Eric Bjornholt sold 2,188 shares of the business’s stock in a transaction on Wednesday, May 22nd. The shares were sold at an average price of $80.99, for a total transaction of $177,206.12. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 2.13% of the stock is owned by insiders.

Several hedge funds and other institutional investors have recently bought and sold shares of the company. CWM Advisors LLC boosted its holdings in Microchip Technology by 1.8% in the second quarter. CWM Advisors LLC now owns 7,634 shares of the semiconductor company’s stock worth $662,000 after purchasing an additional 134 shares in the last quarter. Dubuque Bank & Trust Co. boosted its holdings in Microchip Technology by 4.6% in the first quarter. Dubuque Bank & Trust Co. now owns 3,163 shares of the semiconductor company’s stock worth $262,000 after purchasing an additional 140 shares in the last quarter. Trust Co. of Vermont boosted its holdings in Microchip Technology by 8.5% in the first quarter. Trust Co. of Vermont now owns 1,837 shares of the semiconductor company’s stock worth $152,000 after purchasing an additional 144 shares in the last quarter. Wrapmanager Inc. boosted its holdings in Microchip Technology by 5.0% in the first quarter. Wrapmanager Inc. now owns 3,126 shares of the semiconductor company’s stock worth $259,000 after purchasing an additional 150 shares in the last quarter. Finally, Parkside Financial Bank & Trust boosted its holdings in Microchip Technology by 65.3% in the first quarter. Parkside Financial Bank & Trust now owns 433 shares of the semiconductor company’s stock worth $36,000 after purchasing an additional 171 shares in the last quarter.

About Microchip Technology (NASDAQ:MCHP)

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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