WINTON GROUP Ltd acquired a new stake in shares of Microchip Technology Incorporated (NASDAQ:MCHP – Free Report) during the 4th quarter, Holdings Channel.com reports. The fund acquired 69,729 shares of the semiconductor company’s stock, valued at approximately $4,443,000.
Several other hedge funds have also recently made changes to their positions in the stock. GoalVest Advisory LLC grew its position in Microchip Technology by 174.0% during the fourth quarter. GoalVest Advisory LLC now owns 548 shares of the semiconductor company’s stock valued at $35,000 after buying an additional 348 shares during the period. Board of the Pension Protection Fund purchased a new stake in Microchip Technology during the fourth quarter valued at $38,000. Kohmann Bosshard Financial Services LLC purchased a new stake in shares of Microchip Technology in the fourth quarter valued at $38,000. TOWER TRUST & INVESTMENT Co raised its stake in shares of Microchip Technology by 1,555.0% in the fourth quarter. TOWER TRUST & INVESTMENT Co now owns 662 shares of the semiconductor company’s stock valued at $42,000 after acquiring an additional 622 shares during the period. Finally, State of Wyoming grew its holdings in shares of Microchip Technology by 78.1% in the second quarter. State of Wyoming now owns 618 shares of the semiconductor company’s stock worth $43,000 after purchasing an additional 271 shares during the last quarter. 91.51% of the stock is owned by hedge funds and other institutional investors.
Insiders Place Their Bets
In other Microchip Technology news, COO Richard J. Simoncic sold 5,000 shares of the business’s stock in a transaction that occurred on Friday, May 22nd. The shares were sold at an average price of $93.44, for a total transaction of $467,200.00. Following the completion of the sale, the chief operating officer directly owned 135,508 shares in the company, valued at $12,661,867.52. The trade was a 3.56% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Steve Sanghi sold 76,469 shares of the business’s stock in a transaction that occurred on Friday, May 1st. The stock was sold at an average price of $93.58, for a total value of $7,155,969.02. Following the transaction, the chief executive officer directly owned 9,385,834 shares in the company, valued at $878,326,345.72. This trade represents a 0.81% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 548,302 shares of company stock valued at $49,186,035 in the last quarter. Corporate insiders own 1.94% of the company’s stock.
Microchip Technology Stock Performance
Microchip Technology (NASDAQ:MCHP – Get Free Report) last issued its quarterly earnings results on Thursday, May 7th. The semiconductor company reported $0.57 earnings per share for the quarter, topping the consensus estimate of $0.50 by $0.07. Microchip Technology had a return on equity of 10.87% and a net margin of 4.88%.The firm had revenue of $1.31 billion during the quarter, compared to the consensus estimate of $1.26 billion. During the same period last year, the company earned $0.11 earnings per share. The company’s revenue for the quarter was up 35.1% on a year-over-year basis. Microchip Technology has set its Q1 2027 guidance at 0.670-0.710 EPS. As a group, equities research analysts forecast that Microchip Technology Incorporated will post 2.58 EPS for the current year.
Microchip Technology Announces Dividend
The business also recently disclosed a quarterly dividend, which was paid on Friday, June 5th. Investors of record on Friday, May 22nd were given a dividend of $0.455 per share. This represents a $1.82 dividend on an annualized basis and a yield of 2.1%. The ex-dividend date was Friday, May 22nd. Microchip Technology’s dividend payout ratio (DPR) is currently 866.67%.
Analyst Upgrades and Downgrades
A number of research firms have recently weighed in on MCHP. Zacks Research upgraded shares of Microchip Technology from a “hold” rating to a “strong-buy” rating in a report on Tuesday, May 12th. Truist Financial raised their price objective on shares of Microchip Technology from $69.00 to $105.00 and gave the stock a “hold” rating in a research note on Friday, May 8th. Citigroup lifted their price target on shares of Microchip Technology from $91.00 to $113.00 and gave the company a “buy” rating in a research note on Friday, May 8th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $125.00 target price on shares of Microchip Technology in a research note on Wednesday, May 13th. Finally, Wells Fargo & Company lifted their price target on Microchip Technology from $75.00 to $95.00 and gave the stock an “equal weight” rating in a report on Friday, May 8th. Four equities research analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and seven have issued a Hold rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $97.52.
Check Out Our Latest Stock Report on Microchip Technology
About Microchip Technology
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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