Harber Asset Management LLC increased its stake in Microchip Technology Incorporated (NASDAQ:MCHP – Free Report) by 9.9% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 100,082 shares of the semiconductor company’s stock after acquiring an additional 8,992 shares during the quarter. Microchip Technology makes up 2.7% of Harber Asset Management LLC’s holdings, making the stock its 23rd largest holding. Harber Asset Management LLC’s holdings in Microchip Technology were worth $6,377,000 as of its most recent filing with the Securities & Exchange Commission.
Other hedge funds have also modified their holdings of the company. Caitong International Asset Management Co. Ltd grew its holdings in shares of Microchip Technology by 4,663.6% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 524 shares of the semiconductor company’s stock worth $33,000 after acquiring an additional 513 shares during the last quarter. GoalVest Advisory LLC grew its holdings in shares of Microchip Technology by 174.0% in the 4th quarter. GoalVest Advisory LLC now owns 548 shares of the semiconductor company’s stock worth $35,000 after acquiring an additional 348 shares during the last quarter. Board of the Pension Protection Fund acquired a new position in shares of Microchip Technology in the 4th quarter worth $38,000. Kohmann Bosshard Financial Services LLC acquired a new position in shares of Microchip Technology in the 4th quarter worth $38,000. Finally, State of Wyoming grew its holdings in shares of Microchip Technology by 78.1% in the 2nd quarter. State of Wyoming now owns 618 shares of the semiconductor company’s stock worth $43,000 after acquiring an additional 271 shares during the last quarter. 91.51% of the stock is currently owned by institutional investors and hedge funds.
Analyst Ratings Changes
A number of brokerages recently issued reports on MCHP. Truist Financial lifted their target price on Microchip Technology from $69.00 to $105.00 and gave the stock a “hold” rating in a report on Friday, May 8th. Wells Fargo & Company raised their target price on Microchip Technology from $75.00 to $95.00 and gave the stock an “equal weight” rating in a research report on Friday, May 8th. Weiss Ratings raised Microchip Technology from a “hold (c-)” rating to a “hold (c)” rating in a research report on Thursday, June 4th. Zacks Research raised Microchip Technology from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, May 12th. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $125.00 target price on shares of Microchip Technology in a research report on Wednesday, May 13th. Four investment analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and seven have given a Hold rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $98.18.
Microchip Technology Stock Performance
Shares of Microchip Technology stock opened at $95.24 on Friday. The stock has a market cap of $51.63 billion, a PE ratio of 453.55, a price-to-earnings-growth ratio of 1.00 and a beta of 1.73. The business has a fifty day simple moving average of $87.85 and a 200-day simple moving average of $75.61. The company has a quick ratio of 1.18, a current ratio of 2.09 and a debt-to-equity ratio of 0.85. Microchip Technology Incorporated has a 12 month low of $48.52 and a 12 month high of $105.91.
Microchip Technology (NASDAQ:MCHP – Get Free Report) last issued its earnings results on Thursday, May 7th. The semiconductor company reported $0.57 EPS for the quarter, topping the consensus estimate of $0.50 by $0.07. The business had revenue of $1.31 billion during the quarter, compared to analysts’ expectations of $1.26 billion. Microchip Technology had a return on equity of 10.87% and a net margin of 4.88%.Microchip Technology’s revenue was up 35.1% compared to the same quarter last year. During the same quarter last year, the firm posted $0.11 earnings per share. Microchip Technology has set its Q1 2027 guidance at 0.670-0.710 EPS. On average, sell-side analysts anticipate that Microchip Technology Incorporated will post 2.58 EPS for the current fiscal year.
Microchip Technology Dividend Announcement
The company 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. The ex-dividend date of this dividend was Friday, May 22nd. This represents a $1.82 dividend on an annualized basis and a yield of 1.9%. Microchip Technology’s dividend payout ratio (DPR) is presently 866.67%.
Insider Transactions at Microchip Technology
In related news, Director Matthew W. Chapman sold 3,000 shares of the firm’s stock in a transaction that occurred on Thursday, May 28th. The shares were sold at an average price of $97.52, for a total transaction of $292,560.00. Following the transaction, the director owned 17,665 shares of the company’s stock, valued at approximately $1,722,690.80. This trade represents a 14.52% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, COO Richard J. Simoncic sold 5,000 shares of the firm’s stock in a transaction that occurred on Thursday, June 4th. The shares were sold at an average price of $97.52, for a total transaction of $487,600.00. Following the transaction, the chief operating officer directly owned 130,508 shares in the company, valued at approximately $12,727,140.16. The trade was a 3.69% 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 in the last ninety days. Company 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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