SummitTX Capital L.P. Decreases Stock Holdings in Microchip Technology Incorporated $MCHP

SummitTX Capital L.P. cut its holdings in Microchip Technology Incorporated (NASDAQ:MCHP) by 86.7% in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 24,340 shares of the semiconductor company’s stock after selling 158,822 shares during the quarter. SummitTX Capital L.P.’s holdings in Microchip Technology were worth $1,573,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of the business. Wolverine Asset Management LLC grew its stake in shares of Microchip Technology by 3,833.7% in the 4th quarter. Wolverine Asset Management LLC now owns 37,921 shares of the semiconductor company’s stock worth $2,416,000 after buying an additional 36,957 shares in the last quarter. Vienna Powszechne Towarzystwo Emerytalne S.A. Vienna Insurance Group purchased a new stake in shares of Microchip Technology during the 4th quarter valued at about $6,691,000. Peregrine Investment Management Inc. purchased a new stake in shares of Microchip Technology during the 1st quarter valued at about $5,492,000. Epoch Investment Partners Inc. lifted its holdings in shares of Microchip Technology by 16.5% in the 4th quarter. Epoch Investment Partners Inc. now owns 1,349,136 shares of the semiconductor company’s stock valued at $85,967,000 after acquiring an additional 191,339 shares during the last quarter. Finally, Norges Bank bought a new position in shares of Microchip Technology in the 4th quarter valued at about $664,564,000. Institutional investors own 91.51% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on MCHP shares. Truist Financial boosted their price objective on Microchip Technology from $69.00 to $105.00 and gave the stock a “hold” rating in a research note on Friday, May 8th. Rosenblatt Securities raised their price objective on Microchip Technology from $115.00 to $120.00 and gave the company a “buy” rating in a research note on Friday, May 8th. Weiss Ratings cut Microchip Technology from a “hold (c)” rating to a “hold (c-)” rating in a report on Friday, July 24th. Zacks Research upgraded Microchip Technology from a “hold” rating to a “strong-buy” rating in a report on Tuesday, May 12th. Finally, Wells Fargo & Company lowered their price target on Microchip Technology from $95.00 to $88.00 and set an “equal weight” rating for the company in a research report on Monday, July 20th. Four investment analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and seven have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $99.76.

Microchip Technology Stock Performance

Microchip Technology stock opened at $71.37 on Thursday. 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 Incorporated has a 1-year low of $48.52 and a 1-year high of $105.91. The firm has a market capitalization of $38.75 billion, a P/E ratio of 339.87, a price-to-earnings-growth ratio of 0.76 and a beta of 1.74. The company’s 50-day moving average is $89.57 and its 200 day moving average is $81.20.

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, topping the consensus estimate of $0.50 by $0.07. Microchip Technology had a net margin of 4.88% and a return on equity of 10.87%. The business 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 firm’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. Research analysts forecast that Microchip Technology Incorporated will post 2.7 EPS for the current year.

Microchip Technology Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, June 5th. Investors of record on Friday, May 22nd were paid a dividend of $0.455 per share. This represents a $1.82 dividend on an annualized basis and a dividend yield of 2.6%. The ex-dividend date of this dividend was Friday, May 22nd. Microchip Technology’s dividend payout ratio (DPR) is currently 866.67%.

Insiders Place Their Bets

In other Microchip Technology news, COO Richard J. Simoncic sold 5,000 shares of the company’s stock in a transaction on Thursday, June 4th. The stock was sold at an average price of $97.52, for a total value of $487,600.00. Following the transaction, the chief operating officer owned 130,508 shares of the company’s stock, valued at $12,727,140.16. This represents a 3.69% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Steve Sanghi sold 76,469 shares of the stock in a transaction on Friday, May 1st. The stock was sold at an average price of $93.58, for a total value of $7,155,969.02. Following the completion of the sale, the chief executive officer owned 9,385,834 shares in the company, valued at approximately $878,326,345.72. The trade was a 0.81% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 103,219 shares of company stock worth $9,699,139 in the last 90 days. 1.79% of the stock is owned by insiders.

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.