Analysts Set Microchip Technology Inc. (MCHP) Target Price at $101.18
Shares of Microchip Technology Inc. (NASDAQ:MCHP) have been assigned an average rating of “Buy” from the twenty brokerages that are covering the stock, Marketbeat reports. Five equities research analysts have rated the stock with a hold recommendation, fourteen have given a buy recommendation and one has issued a strong buy recommendation on the company. The average twelve-month price target among brokerages that have issued a report on the stock in the last year is $101.24.
Several equities research analysts have issued reports on the stock. Zacks Investment Research raised shares of Microchip Technology from a “hold” rating to a “buy” rating and set a $103.00 price target on the stock in a research note on Friday. Piper Jaffray Companies assumed coverage on shares of Microchip Technology in a research note on Monday, December 18th. They set an “overweight” rating and a $100.00 price target on the stock. Morgan Stanley raised their target price on shares of Microchip Technology from $97.00 to $99.00 and gave the stock an “equal weight” rating in a research report on Wednesday, December 13th. ValuEngine cut shares of Microchip Technology from a “buy” rating to a “hold” rating in a research report on Wednesday, November 15th. Finally, Jefferies Group raised their target price on shares of Microchip Technology from $106.00 to $110.00 and gave the stock a “buy” rating in a research report on Tuesday, November 7th.
Microchip Technology (NASDAQ:MCHP) traded up $0.27 during trading on Monday, hitting $92.26. 1,434,891 shares of the company’s stock traded hands, compared to its average volume of 1,920,000. Microchip Technology has a one year low of $62.52 and a one year high of $95.92. The firm has a market cap of $21,530.00, a PE ratio of 36.90, a P/E/G ratio of 1.47 and a beta of 1.00. The company has a debt-to-equity ratio of 0.85, a current ratio of 3.33 and a quick ratio of 2.71.
In related news, CFO James Eric Bjornholt sold 1,801 shares of the firm’s stock in a transaction that occurred on Wednesday, November 22nd. The shares were sold at an average price of $91.66, for a total value of $165,079.66. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, VP Stephen V. Drehobl sold 2,852 shares of the firm’s stock in a transaction that occurred on Wednesday, November 22nd. The shares were sold at an average price of $91.66, for a total transaction of $261,414.32. Following the completion of the transaction, the vice president now owns 15,767 shares in the company, valued at approximately $1,445,203.22. The disclosure for this sale can be found here. 2.13% of the stock is currently owned by company insiders.
A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Atlantic Trust Group LLC raised its holdings in Microchip Technology by 255.3% in the third quarter. Atlantic Trust Group LLC now owns 1,381,312 shares of the semiconductor company’s stock valued at $124,014,000 after buying an additional 992,572 shares during the period. Parametric Portfolio Associates LLC raised its stake in shares of Microchip Technology by 11.3% during the third quarter. Parametric Portfolio Associates LLC now owns 943,194 shares of the semiconductor company’s stock valued at $84,680,000 after purchasing an additional 96,065 shares during the period. Optimum Investment Advisors purchased a new stake in shares of Microchip Technology during the third quarter valued at approximately $518,000. Moors & Cabot Inc. raised its stake in shares of Microchip Technology by 14.7% during the third quarter. Moors & Cabot Inc. now owns 9,403 shares of the semiconductor company’s stock valued at $843,000 after purchasing an additional 1,208 shares during the period. Finally, IFM Investors Pty Ltd purchased a new stake in shares of Microchip Technology during the third quarter valued at approximately $591,000.
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Microchip Technology Company Profile
Microchip Technology Incorporated is engaged in developing, manufacturing and selling specialized semiconductor products used by its customers for a range of embedded control applications. The Company operates through two segments: semiconductor products and technology licensing. In the semiconductor products segment, the Company designs, develops, manufactures and markets microcontrollers, development tools and analog, interface, mixed signal and timing products.
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