Los Angeles Capital Management LLC Cuts Stock Position in Microchip Technology Incorporated $MCHP

Los Angeles Capital Management LLC lessened its position in Microchip Technology Incorporated (NASDAQ:MCHP) by 68.1% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 215,288 shares of the semiconductor company’s stock after selling 458,843 shares during the quarter. Los Angeles Capital Management LLC’s holdings in Microchip Technology were worth $13,363,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of MCHP. MCF Advisors LLC lifted its position in shares of Microchip Technology by 25.8% during the fourth 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. Millstone Evans Group LLC lifted its position in shares of Microchip Technology by 23.7% during the fourth quarter. Millstone Evans Group LLC now owns 742 shares of the semiconductor company’s stock worth $47,000 after purchasing an additional 142 shares in the last quarter. Verdence Capital Advisors LLC lifted its position in shares of Microchip Technology by 2.2% during the fourth quarter. Verdence Capital Advisors LLC now owns 7,120 shares of the semiconductor company’s stock worth $454,000 after purchasing an additional 150 shares in the last quarter. Fiduciary Family Office LLC lifted its position in shares of Microchip Technology by 4.4% during the fourth quarter. Fiduciary Family Office LLC now owns 3,567 shares of the semiconductor company’s stock worth $227,000 after purchasing an additional 151 shares in the last quarter. Finally, Soltis Investment Advisors LLC lifted its position in shares of Microchip Technology by 0.7% during the fourth quarter. Soltis Investment Advisors LLC now owns 22,469 shares of the semiconductor company’s stock worth $1,432,000 after purchasing an additional 155 shares in the last quarter. Hedge funds and other institutional investors own 91.51% of the company’s stock.

Microchip Technology Stock Performance

Shares of Microchip Technology stock opened at $88.34 on Monday. The firm has a market capitalization of $47.89 billion, a P/E ratio of 420.69, a P/E/G ratio of 0.93 and a beta of 1.73. Microchip Technology Incorporated has a 52 week low of $48.52 and a 52 week high of $105.91. The company has a quick ratio of 1.18, a current ratio of 2.09 and a debt-to-equity ratio of 0.85. The firm’s 50 day moving average is $85.00 and its two-hundred day moving average is $74.33.

Microchip Technology (NASDAQ:MCHP) last announced its quarterly earnings results on Thursday, May 7th. The semiconductor company reported $0.57 EPS for the quarter, beating the consensus estimate of $0.50 by $0.07. The company 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 firm’s revenue was up 35.1% on a year-over-year basis. During the same period in the prior year, the firm posted $0.11 earnings per share. Microchip Technology has set its Q1 2027 guidance at 0.670-0.710 EPS. Research analysts forecast that Microchip Technology Incorporated will post 2.58 EPS for the current fiscal year.

Microchip Technology Dividend Announcement

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

Wall Street Analyst Weigh In

Several brokerages recently weighed in on MCHP. Needham & Company LLC raised their target price on shares of Microchip Technology from $84.00 to $120.00 and gave the company a “buy” rating in a report on Friday, May 8th. Susquehanna raised their target price on shares of Microchip Technology from $95.00 to $120.00 and gave the company a “positive” rating in a report on Friday, May 8th. UBS Group reaffirmed a “buy” rating on shares of Microchip Technology in a report on Tuesday, June 2nd. Citigroup raised their target price on shares of Microchip Technology from $91.00 to $113.00 and gave the company a “buy” rating in a report on Friday, May 8th. Finally, Wall Street Zen raised shares of Microchip Technology from a “hold” rating to a “buy” rating in a report on Saturday, May 9th. Four research analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and seven have given a Hold rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $97.52.

Insider Activity at Microchip Technology

In other Microchip Technology news, CFO James Eric Bjornholt sold 3,667 shares of the stock in a transaction that occurred on Friday, May 22nd. The shares were sold at an average price of $90.87, for a total value of $333,220.29. Following the transaction, 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 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 416,581 shares of the stock in a transaction that occurred on Thursday, April 23rd. The shares were sold at an average price of $88.53, for a total transaction of $36,879,915.93. Following the completion of the transaction, the chief executive officer owned 9,495,805 shares in the company, valued at $840,663,616.65. This represents a 4.20% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders have sold 548,302 shares of company stock valued at $49,186,035. Company insiders own 1.94% 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.