Sterling Capital Management LLC Sells 13,486 Shares of Microchip Technology Incorporated $MCHP

Sterling Capital Management LLC reduced its stake in Microchip Technology Incorporated (NASDAQ:MCHP) by 41.5% during the first quarter, according to its most recent filing with the SEC. The fund owned 19,008 shares of the semiconductor company’s stock after selling 13,486 shares during the quarter. Sterling Capital Management LLC’s holdings in Microchip Technology were worth $1,228,000 at the end of the most recent quarter.

Other institutional investors also recently added to or reduced their stakes in the company. EFG International AG bought a new stake in Microchip Technology in the fourth quarter worth about $29,000. Miller Capital Partners Inc. purchased a new stake in shares of Microchip Technology during the 4th quarter worth approximately $29,000. Garton & Associates Financial Advisors LLC bought a new stake in shares of Microchip Technology in the 4th quarter worth approximately $33,000. Reflection Asset Management purchased a new position in Microchip Technology in the fourth quarter valued at approximately $33,000. Finally, Caitong International Asset Management Co. Ltd lifted 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 purchasing an additional 513 shares during the last quarter. Institutional investors own 91.51% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on the company. Weiss Ratings raised Microchip Technology from a “hold (c-)” rating to a “hold (c)” rating in a research report on Thursday, June 4th. Barclays upped their price target on Microchip Technology from $80.00 to $105.00 and gave the company an “equal weight” rating in a research report on Monday, May 11th. Citigroup increased their price target on Microchip Technology from $91.00 to $113.00 and gave the stock a “buy” rating in a research note on Friday, May 8th. Zacks Research upgraded Microchip Technology from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, May 12th. Finally, Needham & Company LLC upped their price objective 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. Four equities research analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and seven have issued a Hold rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $98.18.

Insiders Place Their Bets

In other news, CFO James Eric Bjornholt sold 3,667 shares of Microchip Technology 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 owned 28,573 shares in the company, valued at approximately $2,596,428.51. This trade represents a 11.37% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, COO Richard J. Simoncic sold 5,000 shares of the business’s stock in a transaction dated Thursday, June 4th. The stock was sold at an average price of $97.52, for a total value of $487,600.00. Following the transaction, the chief operating officer directly owned 130,508 shares of the company’s stock, valued at $12,727,140.16. The trade was a 3.69% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders sold 553,302 shares of company stock worth $49,673,635. 1.94% of the stock is currently owned by insiders.

Microchip Technology Stock Performance

Microchip Technology stock opened at $89.06 on Tuesday. The firm has a market capitalization of $48.28 billion, a PE ratio of 424.12, a price-to-earnings-growth ratio of 0.90 and a beta of 1.73. Microchip Technology Incorporated has a 1-year low of $48.52 and a 1-year high of $105.91. The firm’s 50 day simple moving average is $93.25 and its 200 day simple moving average is $78.60. 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 (NASDAQ:MCHP) last issued its quarterly earnings data on Thursday, May 7th. The semiconductor company reported $0.57 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.50 by $0.07. The company 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 firm’s revenue was up 35.1% compared to the same quarter last year. During the same quarter last year, the business posted $0.11 earnings per share. Microchip Technology has set its Q1 2027 guidance at 0.670-0.710 EPS. As a group, analysts expect that Microchip Technology Incorporated will post 2.66 earnings per share for the current fiscal year.

Microchip Technology Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, June 5th. Shareholders of record on Friday, May 22nd were issued a $0.455 dividend. The ex-dividend date of this dividend was Friday, May 22nd. This represents a $1.82 annualized dividend and a dividend yield of 2.0%. Microchip Technology’s dividend payout ratio (DPR) is presently 866.67%.

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.