Telemark Asset Management LLC Buys 100,000 Shares of Microchip Technology Incorporated $MCHP

Telemark Asset Management LLC boosted its stake in shares of Microchip Technology Incorporated (NASDAQ:MCHP) by 50.0% during the 3rd quarter, Holdings Channel reports. The institutional investor owned 300,000 shares of the semiconductor company’s stock after buying an additional 100,000 shares during the quarter. Microchip Technology comprises approximately 1.8% of Telemark Asset Management LLC’s investment portfolio, making the stock its 23rd largest holding. Telemark Asset Management LLC’s holdings in Microchip Technology were worth $19,266,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in MCHP. Vanguard Group Inc. lifted its stake in shares of Microchip Technology by 2.1% in the third quarter. Vanguard Group Inc. now owns 72,075,558 shares of the semiconductor company’s stock valued at $4,628,692,000 after buying an additional 1,507,554 shares in the last quarter. Mizuho Markets Cayman LP acquired a new stake in shares of Microchip Technology in the 2nd quarter worth about $107,584,000. Boston Partners raised its holdings in shares of Microchip Technology by 38.0% in the 2nd quarter. Boston Partners now owns 14,802,525 shares of the semiconductor company’s stock worth $1,040,114,000 after acquiring an additional 4,076,112 shares during the last quarter. Assenagon Asset Management S.A. lifted its position in Microchip Technology by 498.0% in the 3rd quarter. Assenagon Asset Management S.A. now owns 2,034,797 shares of the semiconductor company’s stock valued at $130,675,000 after acquiring an additional 1,694,533 shares in the last quarter. Finally, Voya Investment Management LLC boosted its stake in Microchip Technology by 37.2% during the 3rd quarter. Voya Investment Management LLC now owns 3,361,581 shares of the semiconductor company’s stock valued at $215,881,000 after purchasing an additional 911,731 shares during the last quarter. Institutional investors and hedge funds own 91.51% of the company’s stock.

Insider Buying and Selling

In other Microchip Technology news, CFO James Eric Bjornholt sold 4,292 shares of the stock in a transaction on Tuesday, November 25th. The stock was sold at an average price of $50.39, for a total transaction of $216,273.88. Following the completion of the transaction, the chief financial officer directly owned 30,089 shares of the company’s stock, valued at approximately $1,516,184.71. This represents a 12.48% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Steve Sanghi sold 98,814 shares of the firm’s stock in a transaction on Wednesday, January 28th. The stock was sold at an average price of $80.55, for a total value of $7,959,467.70. Following the completion of the sale, the chief executive officer directly owned 9,922,319 shares of the company’s stock, valued at $799,242,795.45. This represents a 0.99% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 121,615 shares of company stock valued at $9,641,654 over the last three months. Insiders own 1.94% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently commented on MCHP. Morgan Stanley increased their price objective on Microchip Technology from $68.00 to $69.00 and gave the stock an “equal weight” rating in a research note on Tuesday, January 6th. Susquehanna increased their price target on Microchip Technology from $75.00 to $90.00 and gave the company a “positive” rating in a research report on Thursday, January 22nd. Stifel Nicolaus set a $90.00 price objective on shares of Microchip Technology in a report on Friday, February 6th. Wall Street Zen upgraded shares of Microchip Technology from a “hold” rating to a “buy” rating in a report on Saturday, February 7th. Finally, Wolfe Research set a $85.00 price target on shares of Microchip Technology in a research report on Tuesday, January 6th. Four analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating and seven have assigned a Hold rating to the stock. Based on data from MarketBeat, Microchip Technology currently has an average rating of “Moderate Buy” and a consensus target price of $86.00.

Microchip Technology Stock Up 0.7%

Shares of NASDAQ:MCHP opened at $77.73 on Friday. The company has a market capitalization of $42.06 billion, a PE ratio of -268.03, a price-to-earnings-growth ratio of 1.95 and a beta of 1.46. Microchip Technology Incorporated has a 1 year low of $34.13 and a 1 year high of $83.35. The company has a debt-to-equity ratio of 0.82, a current ratio of 2.16 and a quick ratio of 1.16. The business has a fifty day moving average price of $72.77 and a two-hundred day moving average price of $66.18.

Microchip Technology (NASDAQ:MCHP) last issued its quarterly earnings results on Thursday, February 5th. The semiconductor company reported $0.44 earnings per share for the quarter, topping analysts’ consensus estimates of $0.43 by $0.01. Microchip Technology had a negative net margin of 1.57% and a positive return on equity of 7.16%. The company had revenue of $1.19 billion for the quarter, compared to the consensus estimate of $1.19 billion. During the same period in the previous year, the firm earned $0.20 EPS. The firm’s quarterly revenue was up 15.6% on a year-over-year basis. Microchip Technology has set its Q4 2026 guidance at 0.480-0.520 EPS. Analysts forecast that Microchip Technology Incorporated will post 1.03 earnings per share for the current year.

Microchip Technology Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, March 10th. Shareholders of record on Monday, February 23rd will be paid a $0.455 dividend. This represents a $1.82 dividend on an annualized basis and a yield of 2.3%. The ex-dividend date is Monday, February 23rd. Microchip Technology’s payout ratio is presently -627.59%.

Microchip Technology Company 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.