Los Angeles Capital Management LLC Lowers Stock Position in Microchip Technology Incorporated $MCHP

Los Angeles Capital Management LLC cut its holdings in shares of Microchip Technology Incorporated (NASDAQ:MCHP) by 68.1% during the fourth quarter, HoldingsChannel.com reports. The fund owned 215,288 shares of the semiconductor company’s stock after selling 458,843 shares during the quarter. Los Angeles Capital Management LLC’s holdings in Microchip Technology were worth $13,363,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also modified their holdings of the company. GoalVest Advisory LLC grew its position in shares of Microchip Technology by 174.0% during the fourth 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 purchased a new position in shares of Microchip Technology during the fourth quarter worth approximately $38,000. Kohmann Bosshard Financial Services LLC purchased a new position in shares of Microchip Technology during the fourth quarter worth approximately $38,000. TOWER TRUST & INVESTMENT Co grew its position in shares of Microchip Technology by 1,555.0% during the fourth quarter. TOWER TRUST & INVESTMENT Co now owns 662 shares of the semiconductor company’s stock worth $42,000 after acquiring an additional 622 shares during the last quarter. Finally, MCF Advisors LLC grew its position in shares of Microchip Technology by 25.8% during the fourth quarter. MCF Advisors LLC now owns 659 shares of the semiconductor company’s stock worth $42,000 after acquiring an additional 135 shares during the last quarter. 91.51% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on the stock. Argus upgraded shares of Microchip Technology to a “strong-buy” rating in a research report on Monday, February 9th. JPMorgan Chase & Co. increased their price target on Microchip Technology from $95.00 to $120.00 and gave the stock an “overweight” rating in a report on Friday, May 8th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $125.00 price target on shares of Microchip Technology in a report on Wednesday, May 13th. UBS Group reaffirmed a “buy” rating on shares of Microchip Technology in a report on Tuesday, June 2nd. Finally, Needham & Company LLC increased their price target on Microchip Technology from $84.00 to $120.00 and gave the stock a “buy” rating in a report on Friday, May 8th. Four analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and seven have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $97.52.

Microchip Technology Price Performance

Microchip Technology stock opened at $88.34 on Monday. Microchip Technology Incorporated has a one year low of $48.52 and a one year high of $105.91. The company has a debt-to-equity ratio of 0.85, a quick ratio of 1.18 and a current ratio of 2.09. The business has a fifty day moving average of $85.00 and a two-hundred day moving average of $74.33. The company has a market cap of $47.89 billion, a P/E ratio of 420.69, a price-to-earnings-growth ratio of 0.93 and a beta of 1.73.

Microchip Technology (NASDAQ:MCHP) last released its earnings results on Thursday, May 7th. The semiconductor company reported $0.57 EPS for the quarter, beating 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 company earned $0.11 earnings per share. Microchip Technology’s quarterly revenue was up 35.1% compared to the same quarter last year. Microchip Technology has set its Q1 2027 guidance at 0.670-0.710 EPS. As a group, analysts predict that Microchip Technology Incorporated will post 2.58 earnings per share for the current fiscal year.

Microchip Technology Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, June 5th. Shareholders of record on Friday, May 22nd were issued a $0.455 dividend. 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 2.1%. Microchip Technology’s dividend payout ratio (DPR) is 866.67%.

Insiders Place Their Bets

In other Microchip Technology news, CFO James Eric Bjornholt sold 3,667 shares of the firm’s stock in a transaction on Friday, May 22nd. The stock was sold at an average price of $90.87, for a total value of $333,220.29. Following the completion of the sale, the chief financial officer owned 28,573 shares of the company’s stock, valued at approximately $2,596,428.51. This trade represents a 11.37% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Matthew W. Chapman sold 3,000 shares of the firm’s stock in a transaction on Thursday, May 28th. The shares were sold at an average price of $97.52, for a total value of $292,560.00. Following the completion of the sale, the director directly 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 position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 548,302 shares of company stock worth $49,186,035 in the last ninety days. 1.94% of the stock is owned by insiders.

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.