Microchip Technology Surges 4.1% Today - Is There Still Upside?

Microchip Technology stock is trading -14.35% below its average target price of $94.23 after marking a 4.1% during today's afternoon session. Analysts are giving the large-cap Semiconductors company an average rating of buy and target prices ranging from $76.0 to $125.0 per share.

The stock has an average amount of shares sold short at 3.7%, and a short ratio of 3.54. The company's insiders own 2.09% of its outstanding shares, which indicates a strong alignment between management and shareholder interests. Finally, we also note that a significant number of institutional investors are invested in the stock, with 92.7% of Microchip Technology's shares being owned by this investor type.

Institutions Invested in Microchip Technology

Date Reported Holder Percentage Shares Value
2023-03-31 Vanguard Group, Inc. (The) 12% 66,099,271 $5,334,872,101
2023-03-31 Blackrock Inc. 8% 43,547,852 $3,514,747,095
2023-03-31 State Street Corporation 4% 24,271,574 $1,958,958,715
2023-03-31 Dodge & Cox Inc 4% 22,899,386 $1,848,209,423
2023-03-31 T. Rowe Price Investment Management, Inc. 4% 22,153,325 $1,787,994,840
2023-03-31 Aristotle Capital Management, LLC 3% 16,660,394 $1,344,660,384
2023-03-31 FMR, LLC 3% 14,295,374 $1,153,779,622
2023-03-31 Ameriprise Financial, Inc. 2% 13,293,364 $1,072,907,396
2023-03-31 Geode Capital Management, LLC 2% 11,714,851 $945,505,613
2023-03-31 Principal Financial Group, Inc. 2% 9,567,380 $772,183,231

Besides an analyst consensus of some upside potential, other market factors point to there being positive market sentiment on Microchip Technology.

The above analysis is intended for educational purposes only and was performed on the basis of publicly available data. It is not to be construed as a recommendation to buy or sell any security. Any buy, sell, or other recommendations mentioned in the article are direct quotations of consensus recommendations from the analysts covering the stock, and do not represent the opinions of Market Inference or its writers. Past performance, accounting data, and inferences about market position and corporate valuation are not reliable indicators of future price movements. Market Inference does not provide financial advice. Investors should conduct their own review and analysis of any company of interest before making an investment decision.