Microchip Technology Incorporated $MCHP Stake Lowered by Pictet Asset Management Holding SA

Pictet Asset Management Holding SA trimmed its stake in shares of Microchip Technology Incorporated (NASDAQ:MCHP) by 2.7% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 4,729,358 shares of the semiconductor company’s stock after selling 133,026 shares during the quarter. Pictet Asset Management Holding SA owned about 0.87% of Microchip Technology worth $305,357,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently added to or reduced their stakes in the stock. VCI Wealth Management LLC acquired a new position in shares of Microchip Technology during the first quarter valued at $835,000. Falcon Wealth Planning bought a new stake in Microchip Technology during the first quarter worth approximately $452,000. Louisiana State Employees Retirement System purchased a new position in Microchip Technology in the 1st quarter worth about $4,077,000. Fifth Third Wealth Advisors LLC grew its position in Microchip Technology by 67.8% during the 1st quarter. Fifth Third Wealth Advisors LLC now owns 8,009 shares of the semiconductor company’s stock worth $517,000 after purchasing an additional 3,236 shares in the last quarter. Finally, OP Asset Management Ltd purchased a new position in Microchip Technology during the 1st quarter valued at about $3,429,000. 91.51% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Microchip Technology

In related news, COO Richard J. Simoncic sold 5,000 shares of Microchip Technology stock in a transaction that occurred on Thursday, June 4th. The stock was sold at an average price of $97.52, for a total transaction of $487,600.00. Following the completion of the sale, the chief operating officer directly owned 130,508 shares of the company’s stock, valued at approximately $12,727,140.16. This trade represents a 3.69% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Steve Sanghi sold 416,581 shares of Microchip Technology stock in a transaction on Thursday, April 23rd. The stock was sold at an average price of $88.53, for a total value of $36,879,915.93. Following the sale, the chief executive officer directly owned 9,495,805 shares of the company’s stock, valued at $840,663,616.65. This represents a 4.20% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 553,302 shares of company stock worth $49,673,635 in the last quarter. Corporate insiders own 1.94% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on MCHP shares. Truist Financial lifted their price objective on Microchip Technology from $69.00 to $105.00 and gave the company a “hold” rating in a research report on Friday, May 8th. Barclays upped their target price on shares of Microchip Technology from $80.00 to $105.00 and gave the company an “equal weight” rating in a research note on Monday, May 11th. Weiss Ratings upgraded shares of Microchip Technology from a “hold (c-)” rating to a “hold (c)” rating in a research note on Thursday, June 4th. UBS Group reaffirmed a “buy” rating on shares of Microchip Technology in a research note on Tuesday, June 2nd. Finally, Cantor Fitzgerald reiterated an “overweight” rating and set a $125.00 price objective on shares of Microchip Technology in a research note on Wednesday, May 13th. Four investment analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and seven have given a Hold rating to the company. According to data from MarketBeat, Microchip Technology presently has a consensus rating of “Moderate Buy” and a consensus price target of $98.18.

Microchip Technology Trading Down 6.6%

NASDAQ MCHP opened at $87.93 on Friday. The company has a market cap of $47.67 billion, a PE ratio of 418.73, a PEG ratio of 0.90 and a beta of 1.73. The company has a current ratio of 2.09, a quick ratio of 1.18 and a debt-to-equity ratio of 0.85. Microchip Technology Incorporated has a 12 month low of $48.52 and a 12 month high of $105.91. The stock has a 50 day moving average of $93.01 and a 200-day moving average of $78.37.

Microchip Technology (NASDAQ:MCHP) last announced its quarterly 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 firm had revenue of $1.31 billion for the quarter, compared to the consensus estimate of $1.26 billion. During the same quarter in the previous year, the business earned $0.11 earnings per share. The business’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. On average, equities research analysts anticipate that Microchip Technology Incorporated will post 2.66 EPS for the current fiscal year.

Microchip Technology Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, June 5th. Investors of record on Friday, May 22nd were issued 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 2.1%. Microchip Technology’s payout ratio is presently 866.67%.

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.