T. Rowe Price Investment Management Inc. Acquires 441,868 Shares of Microchip Technology Incorporated $MCHP

T. Rowe Price Investment Management Inc. grew its holdings in shares of Microchip Technology Incorporated (NASDAQ:MCHP) by 4.7% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 9,919,171 shares of the semiconductor company’s stock after acquiring an additional 441,868 shares during the quarter. T. Rowe Price Investment Management Inc. owned 1.83% of Microchip Technology worth $632,050,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently made changes to their positions in MCHP. AQR Capital Management LLC increased its position in 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 purchasing an additional 5,835 shares in the last quarter. Geneos Wealth Management Inc. grew its stake in shares of Microchip Technology by 101.8% during the first quarter. Geneos Wealth Management Inc. now owns 1,221 shares of the semiconductor company’s stock worth $59,000 after buying an additional 616 shares during the last quarter. Cresset Asset Management LLC grew its stake in shares of Microchip Technology by 5.4% during the second quarter. Cresset Asset Management LLC now owns 11,433 shares of the semiconductor company’s stock worth $805,000 after buying an additional 589 shares during the last quarter. AXA S.A. increased its holdings in shares of Microchip Technology by 21.3% during the second quarter. AXA S.A. now owns 51,552 shares of the semiconductor company’s stock worth $3,628,000 after buying an additional 9,043 shares in the last quarter. Finally, Treasurer of the State of North Carolina increased its holdings in shares of Microchip Technology by 1.6% during the second quarter. Treasurer of the State of North Carolina now owns 246,530 shares of the semiconductor company’s stock worth $17,348,000 after buying an additional 3,851 shares in the last quarter. Institutional investors own 91.51% of the company’s stock.

Insider Activity at Microchip Technology

In related news, CFO James Eric Bjornholt sold 3,667 shares of the business’s stock in a transaction on Friday, May 22nd. The shares were sold at an average price of $90.87, for a total transaction of $333,220.29. Following the transaction, the chief financial officer owned 28,573 shares in the company, valued at $2,596,428.51. The trade was a 11.37% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at 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 stock in a transaction on Thursday, May 28th. The stock was sold at an average price of $97.52, for a total transaction of $292,560.00. Following the transaction, the director directly owned 17,665 shares in the company, valued at approximately $1,722,690.80. This represents a 14.52% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders have sold 553,302 shares of company stock worth $49,673,635. 1.94% of the stock is owned by insiders.

Microchip Technology Stock Performance

Shares of MCHP opened at $99.77 on Friday. The firm’s fifty day simple moving average is $90.33 and its two-hundred day simple moving average is $77.05. Microchip Technology Incorporated has a 12 month low of $48.52 and a 12 month high of $105.91. The company has a current ratio of 2.09, a quick ratio of 1.18 and a debt-to-equity ratio of 0.85. The stock has a market capitalization of $54.08 billion, a P/E ratio of 475.12, a price-to-earnings-growth ratio of 0.99 and a beta of 1.73.

Microchip Technology (NASDAQ:MCHP) last announced its quarterly earnings data on Thursday, May 7th. The semiconductor company reported $0.57 earnings per share (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 for the quarter, compared to the consensus estimate of $1.26 billion. During the same period in the previous year, the business earned $0.11 EPS. The firm’s 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 EPS for the current year.

Microchip Technology Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, June 5th. Stockholders 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 annualized dividend and a dividend yield of 1.8%. Microchip Technology’s dividend payout ratio (DPR) is 866.67%.

Analyst Ratings Changes

Several equities research analysts recently weighed in on the company. Zacks Research raised Microchip Technology from a “hold” rating to a “strong-buy” rating in a report on Tuesday, May 12th. Needham & Company LLC upped their target price on Microchip Technology from $84.00 to $120.00 and gave the stock a “buy” rating in a report on Friday, May 8th. Wells Fargo & Company increased their target price on Microchip Technology from $75.00 to $95.00 and gave the company an “equal weight” rating in a research report on Friday, May 8th. Cantor Fitzgerald restated an “overweight” rating and set a $125.00 price target on shares of Microchip Technology in a report on Wednesday, May 13th. Finally, Truist Financial upped their price objective on Microchip Technology from $69.00 to $105.00 and gave the company a “hold” rating in a research note on Friday, May 8th. Four analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating and seven have given a Hold rating to the company. Based on data from MarketBeat, Microchip Technology has an average rating of “Moderate Buy” and an average price target of $98.18.

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.