Dickmeyer Boyce Financial Management Inc. Invests $477,000 in Microchip Technology Incorporated $MCHP

Dickmeyer Boyce Financial Management Inc. acquired a new stake in Microchip Technology Incorporated (NASDAQ:MCHP) during the first quarter, HoldingsChannel.com reports. The institutional investor acquired 7,376 shares of the semiconductor company’s stock, valued at approximately $477,000.

Several other hedge funds have also recently added to or reduced their stakes in MCHP. Vanguard Group Inc. lifted its holdings in shares of Microchip Technology by 2.0% in the fourth quarter. Vanguard Group Inc. now owns 73,506,339 shares of the semiconductor company’s stock valued at $4,683,824,000 after purchasing an additional 1,430,781 shares in the last quarter. State Street Corp increased its stake in shares of Microchip Technology by 2.8% during the 4th quarter. State Street Corp now owns 28,863,048 shares of the semiconductor company’s stock worth $1,839,153,000 after purchasing an additional 783,157 shares in the last quarter. Boston Partners increased its stake in shares of Microchip Technology by 9.5% during the 3rd quarter. Boston Partners now owns 16,234,332 shares of the semiconductor company’s stock worth $1,044,024,000 after purchasing an additional 1,406,885 shares in the last quarter. Geode Capital Management LLC raised its position in shares of Microchip Technology by 1.4% during the 4th quarter. Geode Capital Management LLC now owns 15,394,985 shares of the semiconductor company’s stock worth $977,638,000 after purchasing an additional 213,188 shares during the last quarter. Finally, Invesco Ltd. raised its position in shares of Microchip Technology by 4.8% during the 4th quarter. Invesco Ltd. now owns 14,992,128 shares of the semiconductor company’s stock worth $955,298,000 after purchasing an additional 684,561 shares during the last quarter. 91.51% of the stock is currently owned by hedge funds and other institutional investors.

Microchip Technology Trading Down 4.3%

NASDAQ MCHP opened at $81.35 on Friday. The company has a market cap of $44.17 billion, a P/E ratio of 387.40, a P/E/G ratio of 0.85 and a beta of 1.74. Microchip Technology Incorporated has a 12 month low of $48.52 and a 12 month high of $105.91. The company has a debt-to-equity ratio of 0.85, a current ratio of 2.09 and a quick ratio of 1.18. The company has a 50-day moving average of $90.94 and a 200-day moving average of $81.10.

Microchip Technology (NASDAQ:MCHP) last posted its quarterly earnings results on Thursday, May 7th. The semiconductor company reported $0.57 earnings per share for the quarter, topping analysts’ consensus estimates 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 the consensus estimate of $1.26 billion. During the same quarter last year, the firm posted $0.11 earnings per share. Microchip Technology’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, equities analysts predict that Microchip Technology Incorporated will post 2.7 earnings per share for the current year.

Microchip Technology Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, June 5th. Shareholders of record on Friday, May 22nd were given a dividend of $0.455 per share. This represents a $1.82 dividend on an annualized basis and a yield of 2.2%. The ex-dividend date of this dividend was Friday, May 22nd. Microchip Technology’s payout ratio is 866.67%.

Insider Transactions at Microchip Technology

In other Microchip Technology news, CFO James Eric Bjornholt sold 3,667 shares of the company’s stock in a transaction dated 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 sale, the chief financial officer directly owned 28,573 shares in the company, valued at $2,596,428.51. This represents a 11.37% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through 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 firm’s stock in a transaction dated 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 owned 9,385,834 shares in the company, valued at approximately $878,326,345.72. This trade represents a 0.81% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 136,721 shares of company stock worth $12,793,719 in the last three months. 1.79% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

MCHP has been the topic of a number of analyst reports. Truist Financial increased their target price on Microchip Technology from $69.00 to $105.00 and gave the company a “hold” rating in a report on Friday, May 8th. UBS Group reissued a “buy” rating on shares of Microchip Technology in a report on Tuesday, June 2nd. Wells Fargo & Company reduced their price objective on Microchip Technology from $95.00 to $88.00 and set an “equal weight” rating on the stock in a research report on Monday. JPMorgan Chase & Co. lifted their price objective on Microchip Technology from $95.00 to $120.00 and gave the stock an “overweight” rating in a research report on Friday, May 8th. Finally, Barclays boosted their target price on shares of Microchip Technology from $80.00 to $105.00 and gave the company an “equal weight” rating in a research note on Monday, May 11th. Four research 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, the stock presently has an average rating of “Moderate Buy” and an average price target of $99.76.

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.