Davis R M Inc. Sells 23,333 Shares of Microchip Technology Incorporated $MCHP

Davis R M Inc. lowered its position in shares of Microchip Technology Incorporated (NASDAQ:MCHP) by 15.7% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 124,828 shares of the semiconductor company’s stock after selling 23,333 shares during the period. Davis R M Inc.’s holdings in Microchip Technology were worth $8,065,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of MCHP. Vanguard Group Inc. increased its holdings in shares of Microchip Technology by 2.0% in the 4th quarter. Vanguard Group Inc. now owns 73,506,339 shares of the semiconductor company’s stock valued at $4,683,824,000 after acquiring an additional 1,430,781 shares during the period. State Street Corp increased its stake 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 valued at $1,839,153,000 after purchasing an additional 783,157 shares in the last quarter. Boston Partners increased its position in shares of Microchip Technology by 9.5% in the 3rd quarter. Boston Partners now owns 16,234,332 shares of the semiconductor company’s stock valued at $1,044,024,000 after acquiring an additional 1,406,885 shares during the period. Geode Capital Management LLC increased its holdings in shares of Microchip Technology by 1.4% in the fourth quarter. Geode Capital Management LLC now owns 15,394,985 shares of the semiconductor company’s stock valued at $977,638,000 after purchasing an additional 213,188 shares during the period. Finally, Invesco Ltd. raised its position in Microchip Technology by 4.8% during the 4th quarter. Invesco Ltd. now owns 14,992,128 shares of the semiconductor company’s stock worth $955,298,000 after buying an additional 684,561 shares during the last quarter. 91.51% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on MCHP. Weiss Ratings upgraded Microchip Technology from a “hold (c-)” rating to a “hold (c)” rating in a research note on Thursday, June 4th. Cantor Fitzgerald reissued an “overweight” rating and issued a $125.00 price target on shares of Microchip Technology in a report on Wednesday, May 13th. Zacks Research raised Microchip Technology from a “hold” rating to a “strong-buy” rating in a report on Tuesday, May 12th. Barclays increased their target price on shares of Microchip Technology from $80.00 to $105.00 and gave the company an “equal weight” rating in a research report on Monday, May 11th. Finally, Needham & Company LLC lifted their price objective on Microchip Technology from $84.00 to $120.00 and gave the stock a “buy” rating in a research report on Friday, May 8th. Four investment analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and seven have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, Microchip Technology currently has an average rating of “Moderate Buy” and an average target price of $99.76.

Insiders Place Their Bets

In other Microchip Technology news, COO Richard J. Simoncic sold 5,000 shares of the stock in a transaction that occurred on Friday, May 22nd. The shares were sold at an average price of $93.44, for a total value of $467,200.00. Following the transaction, the chief operating officer directly owned 135,508 shares in the company, valued at $12,661,867.52. This represents a 3.56% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Matthew W. Chapman sold 10,000 shares of the business’s stock in a transaction that occurred on Friday, May 15th. The stock was sold at an average price of $95.48, for a total transaction of $954,800.00. Following the sale, the director owned 20,665 shares of the company’s stock, valued at $1,973,094.20. This represents a 32.61% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders sold 136,721 shares of company stock valued at $12,793,719. 1.79% of the stock is owned by company insiders.

Microchip Technology Stock Up 2.0%

Shares of MCHP opened at $85.02 on Thursday. The stock has a market capitalization of $46.17 billion, a PE ratio of 404.88, a P/E/G ratio of 0.84 and a beta of 1.74. Microchip Technology Incorporated has a 1 year low of $48.52 and a 1 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 company’s 50-day simple moving average is $91.26 and its 200-day simple moving average is $80.99.

Microchip Technology (NASDAQ:MCHP) last posted its quarterly earnings results on Thursday, May 7th. The semiconductor company reported $0.57 EPS for the quarter, topping the consensus estimate of $0.50 by $0.07. Microchip Technology had a net margin of 4.88% and a return on equity of 10.87%. The business had revenue of $1.31 billion during the quarter, compared to the consensus estimate of $1.26 billion. During the same quarter in the previous year, the firm posted $0.11 earnings per share. The company’s quarterly revenue was up 35.1% compared to the same quarter last year. Microchip Technology has set its Q1 2027 guidance at 0.670-0.710 EPS. Analysts forecast that Microchip Technology Incorporated will post 2.7 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. Investors of record on Friday, May 22nd were issued a $0.455 dividend. This represents a $1.82 dividend on an annualized basis and a yield of 2.1%. The ex-dividend date of this dividend was Friday, May 22nd. Microchip Technology’s dividend payout ratio is 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.