Mizuho Markets Cayman LP Sells 1,504,609 Shares of Microchip Technology Incorporated $MCHP

Mizuho Markets Cayman LP decreased its holdings in shares of Microchip Technology Incorporated (NASDAQ:MCHP) by 98.4% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 24,230 shares of the semiconductor company’s stock after selling 1,504,609 shares during the quarter. Mizuho Markets Cayman LP’s holdings in Microchip Technology were worth $1,556,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of MCHP. AQR Capital Management LLC increased its holdings in shares of Microchip Technology by 51.3% in the 1st quarter. AQR Capital Management LLC now owns 17,201 shares of the semiconductor company’s stock worth $827,000 after buying an additional 5,835 shares during the last quarter. Geneos Wealth Management Inc. grew its position in Microchip Technology by 101.8% in the first quarter. Geneos Wealth Management Inc. now owns 1,221 shares of the semiconductor company’s stock worth $59,000 after acquiring an additional 616 shares in the last quarter. Candriam S.C.A. purchased a new position in Microchip Technology in the second quarter worth $1,458,000. Empower Advisory Group LLC bought a new position in Microchip Technology in the second quarter valued at $242,000. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS raised its position in Microchip Technology by 7.2% during the second quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 131,903 shares of the semiconductor company’s stock valued at $9,282,000 after purchasing an additional 8,911 shares in the last quarter. 91.51% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities research analysts have issued reports on the company. Barclays began coverage on Microchip Technology in a research note on Thursday, February 12th. They set an “equal weight” rating and a $80.00 price target for the company. Cantor Fitzgerald raised their price objective on Microchip Technology from $85.00 to $100.00 and gave the company an “overweight” rating in a report on Monday, February 2nd. Bank of America upgraded Microchip Technology from a “neutral” rating to a “buy” rating and set a $95.00 target price for the company in a research report on Wednesday, January 28th. Mizuho upped their target price on Microchip Technology from $83.00 to $90.00 and gave the stock an “outperform” rating in a research note on Friday, February 6th. Finally, Argus upgraded shares of Microchip Technology to a “strong-buy” rating in a research report on Monday, February 9th. Three research analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and eight have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $86.00.

Microchip Technology Stock Up 3.1%

MCHP opened at $63.83 on Tuesday. The company has a market cap of $34.54 billion, a P/E ratio of -220.10, a P/E/G ratio of 1.56 and a beta of 1.45. The business’s 50-day moving average price is $74.14 and its 200-day moving average price is $66.60. The company has a current ratio of 2.16, a quick ratio of 1.16 and a debt-to-equity ratio of 0.82. Microchip Technology Incorporated has a 12 month low of $34.13 and a 12 month high of $83.35.

Microchip Technology (NASDAQ:MCHP) last issued its earnings results on Thursday, February 5th. The semiconductor company reported $0.44 earnings per share for the quarter, beating the consensus estimate of $0.43 by $0.01. Microchip Technology had a positive return on equity of 7.16% and a negative net margin of 1.57%.The company had revenue of $1.19 billion during the quarter, compared to analysts’ expectations of $1.19 billion. During the same period in the prior year, the business posted $0.20 EPS. Microchip Technology’s quarterly revenue was up 15.6% compared to the same quarter last year. Microchip Technology has set its Q4 2026 guidance at 0.480-0.520 EPS. On average, equities analysts expect that Microchip Technology Incorporated will post 1.03 EPS for the current year.

Microchip Technology Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, March 10th. Stockholders of record on Monday, February 23rd were paid a dividend of $0.455 per share. This represents a $1.82 dividend on an annualized basis and a dividend yield of 2.9%. The ex-dividend date of this dividend was Monday, February 23rd. Microchip Technology’s dividend payout ratio is -627.59%.

Insider Buying and Selling at Microchip Technology

In other news, CEO Steve Sanghi sold 98,814 shares of the firm’s stock in a transaction that occurred on Wednesday, January 28th. The shares were sold at an average price of $80.55, for a total value of $7,959,467.70. Following the transaction, the chief executive officer owned 9,922,319 shares in the company, valued at approximately $799,242,795.45. This trade represents a 0.99% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 1.94% of the company’s stock.

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.