Premier Path Wealth Partners LLC reduced its stake in shares of Microchip Technology Incorporated (NASDAQ:MCHP – Free Report) by 79.9% during the 1st quarter, Holdings Channel.com reports. The institutional investor owned 3,572 shares of the semiconductor company’s stock after selling 14,223 shares during the quarter. Premier Path Wealth Partners LLC’s holdings in Microchip Technology were worth $231,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds also recently made changes to their positions in MCHP. AQR Capital Management LLC raised its stake in shares of Microchip Technology by 51.3% in the 1st quarter. AQR Capital Management LLC now owns 17,201 shares of the semiconductor company’s stock valued at $827,000 after acquiring an additional 5,835 shares in the last quarter. Geneos Wealth Management Inc. boosted its position in Microchip Technology by 101.8% during the first quarter. Geneos Wealth Management Inc. now owns 1,221 shares of the semiconductor company’s stock worth $59,000 after purchasing an additional 616 shares during the period. Cresset Asset Management LLC grew its holdings in Microchip Technology by 5.4% during the second quarter. Cresset Asset Management LLC now owns 11,433 shares of the semiconductor company’s stock valued at $805,000 after purchasing an additional 589 shares during the last quarter. AXA S.A. raised its position in shares of Microchip Technology by 21.3% in the second quarter. AXA S.A. now owns 51,552 shares of the semiconductor company’s stock valued at $3,628,000 after purchasing an additional 9,043 shares during the period. Finally, Treasurer of the State of North Carolina raised its position in shares of Microchip Technology by 1.6% in the second quarter. Treasurer of the State of North Carolina now owns 246,530 shares of the semiconductor company’s stock valued at $17,348,000 after purchasing an additional 3,851 shares during the period. Institutional investors and hedge funds own 91.51% of the company’s stock.
Analyst Upgrades and Downgrades
A number of brokerages have recently weighed in on MCHP. Cantor Fitzgerald restated an “overweight” rating and issued a $125.00 price objective on shares of Microchip Technology in a research note on Wednesday, May 13th. Truist Financial lifted their target price on shares of Microchip Technology from $69.00 to $105.00 and gave the stock a “hold” rating in a report on Friday, May 8th. Needham & Company LLC lifted their target price on shares of Microchip Technology from $84.00 to $120.00 and gave the stock a “buy” rating in a report on Friday, May 8th. Citigroup boosted their target price on shares of Microchip Technology from $91.00 to $113.00 and gave the stock a “buy” rating in a research report on Friday, May 8th. Finally, Weiss Ratings upgraded shares of Microchip Technology from a “hold (c-)” rating to a “hold (c)” rating in a report on Thursday, June 4th. Four investment analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating and seven have assigned a Hold rating to the company’s stock. According to data from MarketBeat, Microchip Technology has a consensus rating of “Moderate Buy” and a consensus price target of $98.18.
Microchip Technology Price Performance
MCHP opened at $84.64 on Friday. Microchip Technology Incorporated has a 1-year low of $48.52 and a 1-year high of $105.91. The company has a current ratio of 2.09, a quick ratio of 1.18 and a debt-to-equity ratio of 0.85. The stock has a market capitalization of $45.88 billion, a price-to-earnings ratio of 403.07, a P/E/G ratio of 0.87 and a beta of 1.74. The business has a 50 day moving average of $93.79 and a 200-day moving average of $79.07.
Microchip Technology (NASDAQ:MCHP – Get Free Report) last announced its earnings results on Thursday, May 7th. The semiconductor company reported $0.57 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.50 by $0.07. The business had revenue of $1.31 billion for the quarter, compared to analyst estimates of $1.26 billion. Microchip Technology had a net margin of 4.88% and a return on equity of 10.87%. Microchip Technology’s revenue was up 35.1% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.11 earnings per share. Microchip Technology has set its Q1 2027 guidance at 0.670-0.710 EPS. As a group, sell-side analysts anticipate that Microchip Technology Incorporated will post 2.66 earnings per share for the current year.
Microchip Technology Dividend Announcement
The business also recently disclosed a quarterly dividend, which was paid on Friday, June 5th. Stockholders of record on Friday, May 22nd were issued a dividend of $0.455 per share. The ex-dividend date was Friday, May 22nd. This represents a $1.82 annualized dividend and a dividend yield of 2.2%. Microchip Technology’s payout ratio is presently 866.67%.
Insider Activity at Microchip Technology
In other news, COO Richard J. Simoncic sold 5,000 shares of the company’s stock in a transaction dated Thursday, June 4th. The shares were sold at an average price of $97.52, for a total transaction of $487,600.00. Following the completion of the transaction, the chief operating officer owned 130,508 shares of the company’s stock, valued at approximately $12,727,140.16. This represents a 3.69% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Matthew W. Chapman sold 10,000 shares of the stock in a transaction dated Friday, May 15th. The shares were sold at an average price of $95.48, for a total transaction of $954,800.00. Following the completion of the sale, the director owned 20,665 shares of the company’s stock, valued at approximately $1,973,094.20. The trade was a 32.61% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 553,302 shares of company stock worth $49,673,635 over the last ninety days. Corporate insiders own 1.94% of the company’s stock.
Microchip Technology Profile
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.
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