Microchip Technology Incorporated $MCHP Shares Sold by Davis R M Inc.

Davis R M Inc. lowered its position in Microchip Technology Incorporated (NASDAQ:MCHP) by 15.7% in the first quarter, Holdings Channel.com reports. The institutional investor owned 124,828 shares of the semiconductor company’s stock after selling 23,333 shares during the period. Davis R M Inc.’s holdings in Microchip Technology were worth $8,065,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also modified their holdings of MCHP. AQR Capital Management LLC boosted its stake in Microchip Technology by 51.3% during the 1st quarter. AQR Capital Management LLC now owns 17,201 shares of the semiconductor company’s stock worth $827,000 after purchasing an additional 5,835 shares during the period. Geneos Wealth Management Inc. boosted its stake in shares of Microchip Technology by 101.8% during the first quarter. Geneos Wealth Management Inc. now owns 1,221 shares of the semiconductor company’s stock worth $59,000 after buying an additional 616 shares during the period. Cresset Asset Management LLC boosted its stake in shares of Microchip Technology by 5.4% during the second quarter. Cresset Asset Management LLC now owns 11,433 shares of the semiconductor company’s stock worth $805,000 after buying an additional 589 shares during the period. AXA S.A. grew its holdings in shares of Microchip Technology by 21.3% during the second quarter. AXA S.A. now owns 51,552 shares of the semiconductor company’s stock worth $3,628,000 after buying an additional 9,043 shares during the last quarter. Finally, Treasurer of the State of North Carolina grew its holdings in shares of Microchip Technology by 1.6% during the second quarter. Treasurer of the State of North Carolina now owns 246,530 shares of the semiconductor company’s stock worth $17,348,000 after buying an additional 3,851 shares during the last quarter. 91.51% of the stock is owned by institutional investors and hedge funds.

Microchip Technology Price Performance

Microchip Technology stock opened at $85.02 on Thursday. Microchip Technology Incorporated has a one year low of $48.52 and a one year high of $105.91. 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 business has a fifty day moving average of $91.26 and a two-hundred day moving average of $80.99. The company has a market cap of $46.17 billion, a P/E ratio of 404.88, a price-to-earnings-growth ratio of 0.84 and a beta of 1.74.

Microchip Technology (NASDAQ:MCHP) last issued its earnings results on Thursday, May 7th. The semiconductor company reported $0.57 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 company had revenue of $1.31 billion for the quarter, compared to analyst estimates of $1.26 billion. During the same period in the previous year, the firm earned $0.11 EPS. The business’s revenue was up 35.1% on a year-over-year basis. Microchip Technology has set its Q1 2027 guidance at 0.670-0.710 EPS. As a group, analysts predict that Microchip Technology Incorporated will post 2.7 earnings per share for the current fiscal year.

Microchip Technology Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, June 5th. Investors of record on Friday, May 22nd were issued a $0.455 dividend. The ex-dividend date was Friday, May 22nd. This represents a $1.82 dividend on an annualized basis and a dividend yield of 2.1%. Microchip Technology’s dividend payout ratio is currently 866.67%.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on MCHP. Wells Fargo & Company dropped their price target on Microchip Technology from $95.00 to $88.00 and set an “equal weight” rating on the stock in a research report on Monday. TD Cowen dropped their target price on Microchip Technology from $105.00 to $90.00 and set a “hold” rating on the stock in a report on Monday, July 13th. Truist Financial upped their price target on Microchip Technology from $69.00 to $105.00 and gave the stock a “hold” rating in a research note on Friday, May 8th. Zacks Research raised Microchip Technology from a “hold” rating to a “strong-buy” rating in a report on Tuesday, May 12th. Finally, JPMorgan Chase & Co. increased their price target on shares of Microchip Technology from $95.00 to $120.00 and gave the stock an “overweight” rating in a report on Friday, May 8th. Four 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 company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $99.76.

Insider Transactions at Microchip Technology

In related news, CFO James Eric Bjornholt sold 3,667 shares of Microchip Technology stock in a transaction that occurred on Friday, May 22nd. The stock was sold at an average price of $90.87, for a total transaction of $333,220.29. Following the completion of the transaction, the chief financial officer directly owned 28,573 shares in the company, valued at $2,596,428.51. The trade was a 11.37% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Steve Sanghi sold 76,469 shares of the business’s 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 transaction, the chief executive officer directly owned 9,385,834 shares of the company’s stock, valued at approximately $878,326,345.72. This trade represents a 0.81% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders sold 136,721 shares of company stock valued at $12,793,719. Company insiders own 1.79% 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.