Kestra Advisory Services LLC Acquires 7,630 Shares of Microchip Technology Incorporated $MCHP

Kestra Advisory Services LLC increased its holdings in Microchip Technology Incorporated (NASDAQ:MCHP) by 45.9% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 24,271 shares of the semiconductor company’s stock after acquiring an additional 7,630 shares during the quarter. Kestra Advisory Services LLC’s holdings in Microchip Technology were worth $1,568,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also added to or reduced their stakes in the company. Norges Bank bought a new position in Microchip Technology in the 4th quarter worth $664,564,000. Barclays PLC increased its position in shares of Microchip Technology by 66.5% during the fourth quarter. Barclays PLC now owns 13,996,883 shares of the semiconductor company’s stock valued at $891,881,000 after buying an additional 5,590,210 shares during the period. Rafferty Asset Management LLC increased its position in shares of Microchip Technology by 41.0% during the second quarter. Rafferty Asset Management LLC now owns 6,203,762 shares of the semiconductor company’s stock valued at $436,559,000 after buying an additional 1,803,945 shares during the period. Ameriprise Financial Inc. raised its stake in Microchip Technology by 255.7% in the second quarter. Ameriprise Financial Inc. now owns 2,135,140 shares of the semiconductor company’s stock worth $150,271,000 after buying an additional 1,534,829 shares in the last quarter. Finally, Worldquant Millennium Advisors LLC bought a new position in Microchip Technology in the second quarter worth about $101,359,000. Institutional investors own 91.51% of the company’s stock.

Microchip Technology Trading Up 3.6%

Microchip Technology stock opened at $83.38 on Wednesday. Microchip Technology Incorporated has a 12 month low of $48.52 and a 12 month high of $105.91. The company has a market capitalization of $45.28 billion, a price-to-earnings ratio of 397.07, a price-to-earnings-growth ratio of 0.81 and a beta of 1.74. The business’s fifty day simple moving average is $91.49 and its two-hundred day simple moving average is $80.84. 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 (NASDAQ:MCHP) last posted its quarterly earnings results on Thursday, May 7th. The semiconductor company reported $0.57 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.50 by $0.07. The firm had revenue of $1.31 billion during the quarter, compared to analyst estimates of $1.26 billion. Microchip Technology had a return on equity of 10.87% and a net margin of 4.88%.Microchip Technology’s quarterly revenue was up 35.1% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.11 EPS. Microchip Technology has set its Q1 2027 guidance at 0.670-0.710 EPS. As a group, equities analysts predict that Microchip Technology Incorporated will post 2.69 earnings per share for the current fiscal year.

Microchip Technology Announces Dividend

The company 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 annualized dividend and a yield of 2.2%. Microchip Technology’s payout ratio is 866.67%.

Insider Activity

In related news, COO Richard J. Simoncic sold 5,000 shares of the firm’s stock in a transaction that occurred on Thursday, June 4th. The shares were 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 owned 130,508 shares of the company’s stock, valued at $12,727,140.16. This trade represents a 3.69% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Steve Sanghi sold 416,581 shares of the business’s stock in a transaction that occurred on Thursday, April 23rd. The stock was sold at an average price of $88.53, for a total transaction of $36,879,915.93. Following the completion of the transaction, the chief executive officer owned 9,495,805 shares of the company’s stock, valued at approximately $840,663,616.65. The trade was a 4.20% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders have sold 553,302 shares of company stock worth $49,673,635. Corporate insiders own 1.79% of the company’s stock.

Analyst Ratings Changes

MCHP has been the topic of several research reports. Rosenblatt Securities lifted their price objective on Microchip Technology from $115.00 to $120.00 and gave the company a “buy” rating in a research report on Friday, May 8th. Susquehanna raised their target price on Microchip Technology from $95.00 to $120.00 and gave the company a “positive” rating in a research note on Friday, May 8th. Zacks Research upgraded Microchip Technology from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, May 12th. Weiss Ratings raised Microchip Technology from a “hold (c-)” rating to a “hold (c)” rating in a research note on Thursday, June 4th. Finally, Cantor Fitzgerald reiterated an “overweight” rating and issued a $125.00 price objective on shares of Microchip Technology in a report on Wednesday, May 13th. Four investment analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating and seven have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $99.76.

Microchip Technology 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.