ProShare Advisors LLC Purchases 302,593 Shares of Microchip Technology Incorporated $MCHP

ProShare Advisors LLC grew its position in Microchip Technology Incorporated (NASDAQ:MCHP) by 35.8% in the fourth quarter, HoldingsChannel.com reports. The fund owned 1,147,669 shares of the semiconductor company’s stock after buying an additional 302,593 shares during the period. ProShare Advisors LLC’s holdings in Microchip Technology were worth $73,129,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently modified their holdings of MCHP. AQR Capital Management LLC boosted its stake in shares of Microchip Technology by 51.3% during the 1st quarter. AQR Capital Management LLC now owns 17,201 shares of the semiconductor company’s stock worth $827,000 after acquiring an additional 5,835 shares during the period. Geneos Wealth Management Inc. boosted its stake in shares of Microchip Technology by 101.8% during the 1st quarter. Geneos Wealth Management Inc. now owns 1,221 shares of the semiconductor company’s stock worth $59,000 after acquiring an additional 616 shares during the period. Cresset Asset Management LLC boosted its stake in shares of Microchip Technology by 5.4% during the 2nd quarter. Cresset Asset Management LLC now owns 11,433 shares of the semiconductor company’s stock worth $805,000 after acquiring an additional 589 shares during the period. AXA S.A. boosted its stake in shares of Microchip Technology by 21.3% during the 2nd quarter. AXA S.A. now owns 51,552 shares of the semiconductor company’s stock worth $3,628,000 after acquiring an additional 9,043 shares during the period. Finally, Treasurer of the State of North Carolina boosted its stake in shares of Microchip Technology by 1.6% during the 2nd quarter. Treasurer of the State of North Carolina now owns 246,530 shares of the semiconductor company’s stock worth $17,348,000 after acquiring an additional 3,851 shares during the period. Institutional investors own 91.51% of the company’s stock.

Microchip Technology Stock Performance

MCHP opened at $91.81 on Wednesday. The business has a fifty day simple moving average of $77.16 and a 200 day simple moving average of $70.96. The company has a market capitalization of $49.68 billion, a PE ratio of 437.21, a price-to-earnings-growth ratio of 1.14 and a beta of 1.75. Microchip Technology Incorporated has a 1 year low of $48.52 and a 1 year high of $105.91. The company has a debt-to-equity ratio of 0.85, a current ratio of 2.09 and a quick ratio of 1.18.

Microchip Technology (NASDAQ:MCHP) last posted its earnings results on Thursday, May 7th. The semiconductor company reported $0.57 earnings per share for the quarter, topping analysts’ consensus estimates of $0.50 by $0.07. Microchip Technology had a return on equity of 10.87% and a net margin of 4.88%.The company had revenue of $1.31 billion during the quarter, compared to the consensus estimate of $1.26 billion. During the same quarter last year, the firm earned $0.11 earnings per share. The company’s revenue was up 35.1% on a year-over-year basis. Microchip Technology has set its Q1 2027 guidance at 0.670-0.710 EPS. Research analysts expect that Microchip Technology Incorporated will post 2.2 EPS for the current year.

Microchip Technology Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 5th. Shareholders of record on Friday, May 22nd will be given a dividend of $0.455 per share. This represents a $1.82 dividend on an annualized basis and a dividend yield of 2.0%. The ex-dividend date is Friday, May 22nd. Microchip Technology’s dividend payout ratio is presently 866.67%.

Insider Activity

In other Microchip Technology news, CEO Steve Sanghi sold 416,581 shares of the stock in a transaction that occurred on Thursday, April 23rd. The shares were sold at an average price of $88.53, for a total transaction of $36,879,915.93. Following the transaction, the chief executive officer owned 9,495,805 shares in the company, valued at $840,663,616.65. This represents a 4.20% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders have sold 526,635 shares of company stock worth $47,138,254. Corporate insiders own 1.94% of the company’s stock.

Wall Street Analysts Forecast Growth

MCHP has been the subject of several research analyst reports. BNP Paribas Exane upgraded Microchip Technology from a “neutral” rating to an “outperform” rating and set a $90.00 target price for the company in a research note on Thursday, January 22nd. Zacks Research upgraded Microchip Technology from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, May 12th. 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. UBS Group upped their price target on shares of Microchip Technology from $115.00 to $130.00 and gave the company a “buy” rating in a research note on Friday, May 8th. Finally, Cantor Fitzgerald reiterated an “overweight” rating and issued a $125.00 price target on shares of Microchip Technology in a research note on Wednesday, May 13th. Four research analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $97.52.

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.