Capital Research Global Investors Trims Stock Position in Microchip Technology Incorporated $MCHP

Capital Research Global Investors trimmed its stake in Microchip Technology Incorporated (NASDAQ:MCHP) by 87.9% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,887,854 shares of the semiconductor company’s stock after selling 13,762,481 shares during the period. Capital Research Global Investors owned approximately 0.35% of Microchip Technology worth $121,238,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of MCHP. Bank of Montreal Can grew its holdings in shares of Microchip Technology by 49.8% during the third quarter. Bank of Montreal Can now owns 2,243,633 shares of the semiconductor company’s stock worth $144,086,000 after purchasing an additional 745,387 shares during the last quarter. Legal & General Group Plc grew its stake in Microchip Technology by 1.0% during the 3rd quarter. Legal & General Group Plc now owns 3,350,350 shares of the semiconductor company’s stock worth $215,159,000 after buying an additional 33,449 shares during the last quarter. Inceptionr LLC increased its position in Microchip Technology by 9.5% during the third quarter. Inceptionr LLC now owns 9,664 shares of the semiconductor company’s stock worth $621,000 after buying an additional 840 shares during the period. B. Metzler seel. Sohn & Co. AG lifted its stake in Microchip Technology by 132.1% in the third quarter. B. Metzler seel. Sohn & Co. AG now owns 253,186 shares of the semiconductor company’s stock valued at $16,259,000 after buying an additional 144,124 shares during the last quarter. Finally, Dynamic Technology Lab Private Ltd acquired a new stake in shares of Microchip Technology in the third quarter valued at approximately $348,000. 91.51% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research firms recently commented on MCHP. Morgan Stanley upped their price target on shares of Microchip Technology from $68.00 to $69.00 and gave the company an “equal weight” rating in a research report on Tuesday, January 6th. Wolfe Research set a $85.00 price objective on shares of Microchip Technology in a research report on Tuesday, January 6th. Needham & Company LLC lifted their price objective on shares of Microchip Technology from $77.00 to $84.00 and gave the company a “buy” rating in a research note on Friday, February 6th. Truist Financial increased their target price on shares of Microchip Technology from $60.00 to $68.00 and gave the stock a “hold” rating in a research note on Friday, February 6th. Finally, Bank of America raised Microchip Technology from a “neutral” rating to a “buy” rating and set a $95.00 price target on the stock in a report on Wednesday, January 28th. Three equities research analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and eight have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, Microchip Technology currently has a consensus rating of “Moderate Buy” and a consensus price target of $86.00.

Insider Activity at Microchip Technology

In related news, CEO Steve Sanghi sold 98,814 shares of Microchip Technology stock in a transaction that occurred 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 sale, the chief executive officer directly owned 9,922,319 shares in the company, valued at $799,242,795.45. The trade was a 0.99% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 1.94% of the stock is owned by corporate insiders.

Microchip Technology Stock Up 0.7%

MCHP stock opened at $65.79 on Thursday. The stock has a market capitalization of $35.60 billion, a PE ratio of -226.86, a price-to-earnings-growth ratio of 1.64 and a beta of 1.45. The company has a fifty day moving average of $74.29 and a 200-day moving average of $66.69. The company has a debt-to-equity ratio of 0.82, a quick ratio of 1.16 and a current ratio of 2.16. Microchip Technology Incorporated has a one year low of $34.13 and a one year high of $83.35.

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

Microchip Technology Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, March 10th. Stockholders of record on Monday, February 23rd were paid a dividend of $0.455 per share. This represents a $1.82 dividend on an annualized basis and a dividend yield of 2.8%. The ex-dividend date of this dividend was Monday, February 23rd. Microchip Technology’s dividend payout ratio is -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.