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.

Microchip Technology (NASDAQ:MCHP) last released its quarterly earnings results on Monday, November 6th. The semiconductor company reported $1.41 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.27 by $0.14. Microchip Technology had a net margin of 16.23% and a return on equity of 35.48%. The company had revenue of $1.01 billion for the quarter, compared to analysts’ expectations of $1 billion. During the same period last year, the company earned $0.94 EPS. The firm’s revenue for the quarter was up 16.2% compared to the same quarter last year. equities research analysts predict that Microchip Technology will post 5.12 earnings per share for the current fiscal year.

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.

Analyst Recommendations for Microchip Technology (NASDAQ:MCHP)

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