SEB Asset Management AB Takes Position in Microchip Technology Incorporated $MCHP

SEB Asset Management AB acquired a new position in Microchip Technology Incorporated (NASDAQ:MCHP) during the first quarter, Holdings Channel.com reports. The firm acquired 132,667 shares of the semiconductor company’s stock, valued at approximately $8,572,000.

Other institutional investors have also recently made changes to their positions in the company. Vanguard Group Inc. lifted its position in Microchip Technology by 2.0% during 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 during the period. State Street Corp grew its position in 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 during the period. Boston Partners grew its position in 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 during the period. Geode Capital Management LLC raised its stake 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 valued at $977,638,000 after buying an additional 213,188 shares during the last quarter. Finally, Invesco Ltd. raised its stake 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 valued at $955,298,000 after buying an additional 684,561 shares during the last quarter. Hedge funds and other institutional investors own 91.51% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on MCHP. Cantor Fitzgerald reissued an “overweight” rating and issued a $125.00 price objective on shares of Microchip Technology in a report on Wednesday, May 13th. Barclays boosted their price target on Microchip Technology from $80.00 to $105.00 and gave the company an “equal weight” rating in a report on Monday, May 11th. TD Cowen lowered their price objective on Microchip Technology from $105.00 to $90.00 and set a “hold” rating on the stock in a research report on Monday, July 13th. Weiss Ratings raised shares of Microchip Technology from a “hold (c-)” rating to a “hold (c)” rating in a research note on Thursday, June 4th. Finally, Wells Fargo & Company decreased their target price on shares of Microchip Technology from $95.00 to $88.00 and set an “equal weight” rating for the company in a research note on Monday. Four investment 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 company’s stock. According to MarketBeat.com, Microchip Technology currently has an average rating of “Moderate Buy” and a consensus target price of $99.76.

Microchip Technology Stock Up 3.6%

Shares of MCHP opened at $83.38 on Wednesday. The stock has a 50 day moving average price of $91.49 and a 200 day moving average price of $80.84. Microchip Technology Incorporated has a one year low of $48.52 and a one year high of $105.91. 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 stock has a market capitalization of $45.28 billion, a price-to-earnings ratio of 397.07, a PEG ratio of 0.81 and a beta of 1.74.

Microchip Technology (NASDAQ:MCHP) last announced its quarterly earnings data on Thursday, May 7th. The semiconductor company reported $0.57 earnings per share for the quarter, beating analysts’ consensus estimates of $0.50 by $0.07. Microchip Technology had a return on equity of 10.87% and a net margin of 4.88%.The company had revenue of $1.31 billion for the quarter, compared to analyst estimates of $1.26 billion. During the same quarter last year, the firm posted $0.11 EPS. The firm’s revenue for the quarter was up 35.1% on a year-over-year basis. Microchip Technology has set its Q1 2027 guidance at 0.670-0.710 EPS. Equities research analysts forecast that Microchip Technology Incorporated will post 2.69 earnings per share for the current fiscal year.

Microchip Technology Announces Dividend

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

Insider Buying and Selling at Microchip Technology

In related news, COO Richard J. Simoncic sold 5,000 shares of the company’s stock in a transaction dated Thursday, June 4th. The shares were sold at an average price of $97.52, for a total transaction of $487,600.00. Following the completion of the sale, the chief operating officer owned 130,508 shares of the company’s stock, valued at approximately $12,727,140.16. This represents a 3.69% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Matthew W. Chapman sold 3,000 shares of the stock in a transaction dated Thursday, May 28th. The shares were sold at an average price of $97.52, for a total transaction of $292,560.00. Following the completion of the sale, the director owned 17,665 shares of the company’s stock, valued at approximately $1,722,690.80. The trade was a 14.52% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 553,302 shares of company stock worth $49,673,635 in the last 90 days. 1.79% of the stock is currently owned by insiders.

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.