Gateway Wealth Partners LLC Buys Shares of 8,757 Microchip Technology Incorporated $MCHP

Gateway Wealth Partners LLC bought a new position in Microchip Technology Incorporated (NASDAQ:MCHP) during the 1st quarter, HoldingsChannel reports. The firm bought 8,757 shares of the semiconductor company’s stock, valued at approximately $566,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the company. EFG International AG bought a new stake in shares of Microchip Technology in the 4th quarter valued at $29,000. Miller Capital Partners Inc. bought a new position in Microchip Technology during the fourth quarter worth about $29,000. Reflection Asset Management bought a new position in Microchip Technology during the fourth quarter worth about $33,000. Garton & Associates Financial Advisors LLC acquired a new position in Microchip Technology in the fourth quarter valued at about $33,000. Finally, Caitong International Asset Management Co. Ltd grew its stake in Microchip Technology by 4,663.6% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 524 shares of the semiconductor company’s stock valued at $33,000 after acquiring an additional 513 shares during the period. 91.51% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several brokerages have issued reports on MCHP. Zacks Research upgraded Microchip Technology from a “hold” rating to a “strong-buy” rating in a report on Tuesday, May 12th. Rosenblatt Securities lifted their price objective on Microchip Technology from $115.00 to $120.00 and gave the company a “buy” rating in a report on Friday, May 8th. JPMorgan Chase & Co. boosted their price objective on Microchip Technology from $95.00 to $120.00 and gave the company an “overweight” rating in a research report on Friday, May 8th. TD Cowen lowered their target price on Microchip Technology from $105.00 to $90.00 and set a “hold” rating for the company in a research note on Monday, July 13th. Finally, Weiss Ratings downgraded shares of Microchip Technology from a “hold (c)” rating to a “hold (c-)” rating in a report on Friday, July 24th. Four equities research analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and seven have given a Hold rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $99.76.

Insider Buying and Selling at Microchip Technology

In other Microchip Technology news, CFO James Eric Bjornholt sold 3,667 shares of the company’s 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 owned 28,573 shares of the company’s stock, valued at $2,596,428.51. This represents a 11.37% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Matthew W. Chapman sold 3,000 shares of the firm’s stock in a transaction that occurred on Thursday, May 28th. The stock was sold at an average price of $97.52, for a total transaction of $292,560.00. Following the transaction, the director directly owned 17,665 shares of the company’s stock, valued at $1,722,690.80. This represents a 14.52% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last quarter, insiders have sold 26,750 shares of company stock worth $2,543,170. Corporate insiders own 1.79% of the company’s stock.

Microchip Technology Price Performance

MCHP stock opened at $75.01 on Friday. The stock has a 50-day moving average price of $89.25 and a two-hundred day moving average price of $81.20. The stock has a market cap of $40.73 billion, a PE ratio of 357.21, a price-to-earnings-growth ratio of 0.72 and a beta of 1.74. The company has a current ratio of 2.09, a quick ratio of 1.18 and a debt-to-equity ratio of 0.85. Microchip Technology Incorporated has a 1 year low of $48.52 and a 1 year high of $105.91.

Microchip Technology (NASDAQ:MCHP) last released its quarterly earnings results on Thursday, May 7th. The semiconductor company reported $0.57 earnings per share (EPS) 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 the consensus estimate of $1.26 billion. Microchip Technology had a return on equity of 10.87% and a net margin of 4.88%.The company’s revenue for the quarter was up 35.1% on a year-over-year basis. During the same quarter last year, the business posted $0.11 EPS. Microchip Technology has set its Q1 2027 guidance at 0.670-0.710 EPS. Equities analysts forecast that Microchip Technology Incorporated will post 2.7 EPS for the current fiscal year.

Microchip Technology Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, June 5th. Shareholders of record on Friday, May 22nd were paid a $0.455 dividend. The ex-dividend date was Friday, May 22nd. This represents a $1.82 annualized dividend and a yield of 2.4%. Microchip Technology’s payout ratio is presently 866.67%.

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.