Zweig DiMenna Associates LLC Purchases New Holdings in Microchip Technology Incorporated $MCHP

Zweig DiMenna Associates LLC purchased a new stake in Microchip Technology Incorporated (NASDAQ:MCHP) in the 4th quarter, HoldingsChannel reports. The fund purchased 121,500 shares of the semiconductor company’s stock, valued at approximately $7,742,000.

Other hedge funds have also made changes to their positions in the company. Winnow Wealth LLC purchased a new stake in shares of Microchip Technology in the 3rd quarter valued at approximately $25,000. GoalVest Advisory LLC lifted its position in shares of Microchip Technology by 174.0% in the 4th quarter. GoalVest Advisory LLC now owns 548 shares of the semiconductor company’s stock valued at $35,000 after acquiring an additional 348 shares in the last quarter. Board of the Pension Protection Fund purchased a new stake in shares of Microchip Technology in the 4th quarter valued at approximately $38,000. Kohmann Bosshard Financial Services LLC purchased a new stake in shares of Microchip Technology in the 4th quarter valued at approximately $38,000. Finally, State of Wyoming lifted its position in shares of Microchip Technology by 78.1% in the 2nd quarter. State of Wyoming now owns 618 shares of the semiconductor company’s stock valued at $43,000 after acquiring an additional 271 shares in the last quarter. Hedge funds and other institutional investors own 91.51% of the company’s stock.

Microchip Technology Stock Down 1.4%

Microchip Technology stock opened at $94.65 on Friday. The firm has a market cap of $51.31 billion, a PE ratio of 450.74, a P/E/G ratio of 1.01 and a beta of 1.75. 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 firm’s 50 day moving average price is $82.04 and its two-hundred day moving average price is $72.80. Microchip Technology Incorporated has a twelve month low of $48.52 and a twelve month high of $105.91.

Microchip Technology (NASDAQ:MCHP) last released 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 analyst estimates of $1.26 billion. Microchip Technology had a net margin of 4.88% and a return on equity of 10.87%. The company’s revenue for the quarter was up 35.1% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.11 EPS. Microchip Technology has set its Q1 2027 guidance at 0.670-0.710 EPS. On average, research analysts predict that Microchip Technology Incorporated will post 2.58 EPS for the current fiscal year.

Microchip Technology Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 5th. Stockholders of record on Friday, May 22nd will be paid a dividend of $0.455 per share. The ex-dividend date is Friday, May 22nd. This represents a $1.82 annualized dividend and a dividend yield of 1.9%. Microchip Technology’s dividend payout ratio is 866.67%.

Insider Buying and Selling at Microchip Technology

In other news, CFO James Eric Bjornholt sold 3,667 shares of the stock in a transaction on Friday, May 22nd. The shares were sold at an average price of $90.87, for a total transaction of $333,220.29. Following the transaction, the chief financial officer owned 28,573 shares in the company, valued at $2,596,428.51. This represents a 11.37% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, COO Richard J. Simoncic sold 5,000 shares of the stock in a transaction on Friday, May 22nd. The stock was sold at an average price of $93.44, for a total transaction of $467,200.00. Following the transaction, 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 disclosure for this sale is available in the SEC filing. In the last 90 days, insiders have sold 548,302 shares of company stock worth $49,186,035. Company insiders own 1.94% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts recently commented on MCHP shares. Wells Fargo & Company upped their price target on shares of Microchip Technology from $75.00 to $95.00 and gave the company an “equal weight” rating in a research report on Friday, May 8th. Susquehanna upped their price target on shares of Microchip Technology from $95.00 to $120.00 and gave the company a “positive” rating in a research report on Friday, May 8th. Weiss Ratings upgraded shares of Microchip Technology from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Friday, May 22nd. Jefferies Financial Group reiterated a “hold” rating on shares of Microchip Technology in a research note on Wednesday, February 4th. Finally, Argus upgraded shares of Microchip Technology to a “strong-buy” rating in a research note on Monday, February 9th. Four research analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and seven have issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $97.52.

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.