Clearbridge Investments LLC Sells 150,849 Shares of Microchip Technology Incorporated $MCHP

Clearbridge Investments LLC cut its holdings in Microchip Technology Incorporated (NASDAQ:MCHP) by 3.9% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 3,704,121 shares of the semiconductor company’s stock after selling 150,849 shares during the period. Clearbridge Investments LLC owned 0.68% of Microchip Technology worth $236,027,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently bought and sold shares of the business. GoalVest Advisory LLC lifted its stake in Microchip Technology by 174.0% in the 4th quarter. GoalVest Advisory LLC now owns 548 shares of the semiconductor company’s stock worth $35,000 after purchasing an additional 348 shares in the last quarter. Board of the Pension Protection Fund purchased a new stake in Microchip Technology in the 4th quarter worth approximately $38,000. Kohmann Bosshard Financial Services LLC purchased a new stake in Microchip Technology in the 4th quarter worth approximately $38,000. State of Wyoming lifted its stake in Microchip Technology by 78.1% in the 2nd quarter. State of Wyoming now owns 618 shares of the semiconductor company’s stock worth $43,000 after purchasing an additional 271 shares in the last quarter. Finally, MCF Advisors LLC lifted its stake in Microchip Technology by 25.8% in the 4th quarter. MCF Advisors LLC now owns 659 shares of the semiconductor company’s stock worth $42,000 after purchasing an additional 135 shares in the last quarter. 91.51% of the stock is owned by institutional investors.

Microchip Technology Stock Performance

Microchip Technology stock opened at $88.34 on Friday. The firm’s fifty day moving average price is $85.00 and its 200-day moving average price is $74.17. The company has a debt-to-equity ratio of 0.85, a quick ratio of 1.18 and a current ratio of 2.09. The stock has a market cap of $47.89 billion, a P/E ratio of 420.69, a price-to-earnings-growth ratio of 0.93 and a beta of 1.73. Microchip Technology Incorporated has a fifty-two week low of $48.52 and a fifty-two week high of $105.91.

Microchip Technology (NASDAQ:MCHP) last posted its quarterly earnings data on Thursday, May 7th. The semiconductor company reported $0.57 earnings per share for the quarter, beating the consensus estimate of $0.50 by $0.07. The firm had revenue of $1.31 billion for the quarter, compared to analysts’ expectations of $1.26 billion. Microchip Technology had a net margin of 4.88% and a return on equity of 10.87%. The business’s quarterly revenue was up 35.1% on a year-over-year basis. During the same quarter last year, the company posted $0.11 EPS. Microchip Technology has set its Q1 2027 guidance at 0.670-0.710 EPS. On average, equities research analysts expect that Microchip Technology Incorporated will post 2.58 earnings per share for the current fiscal year.

Microchip Technology Announces Dividend

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 was Friday, May 22nd. This represents a $1.82 annualized dividend and a dividend yield of 2.1%. Microchip Technology’s dividend payout ratio (DPR) is 866.67%.

Insider Activity at Microchip Technology

In other news, COO Richard J. Simoncic sold 5,000 shares of the firm’s stock in a transaction on Friday, May 22nd. The shares were sold at an average price of $93.44, for a total transaction of $467,200.00. Following the sale, the chief operating officer owned 135,508 shares in the company, valued at approximately $12,661,867.52. This trade represents a 3.56% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Steve Sanghi sold 76,469 shares of the stock in a transaction on Friday, May 1st. The shares were sold at an average price of $93.58, for a total transaction of $7,155,969.02. Following the transaction, the chief executive officer directly owned 9,385,834 shares in the company, valued at approximately $878,326,345.72. This represents 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. In the last 90 days, insiders have sold 548,302 shares of company stock worth $49,186,035. Corporate insiders own 1.94% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have issued reports on MCHP. JPMorgan Chase & Co. increased their target price on shares of Microchip Technology from $95.00 to $120.00 and gave the stock an “overweight” rating in a research note on Friday, May 8th. Argus upgraded shares of Microchip Technology to a “strong-buy” rating in a research note on Monday, February 9th. Truist Financial increased their target price on shares of Microchip Technology from $69.00 to $105.00 and gave the stock a “hold” rating in a research note on Friday, May 8th. Wall Street Zen upgraded shares of Microchip Technology from a “hold” rating to a “buy” rating in a research note on Saturday, May 9th. Finally, Rosenblatt Securities increased their target price on shares of Microchip Technology from $115.00 to $120.00 and gave the stock a “buy” rating in a research note on Friday, May 8th. Four research analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating and seven have issued a Hold rating to the company. According to data from MarketBeat, Microchip Technology has an average rating of “Moderate Buy” and a consensus price target of $97.52.

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.