Weiss Asset Management LP Buys 15,142 Shares of Microchip Technology Incorporated $MCHP

Weiss Asset Management LP increased its stake in shares of Microchip Technology Incorporated (NASDAQ:MCHP) by 437.9% during the 1st quarter, HoldingsChannel.com reports. The firm owned 18,600 shares of the semiconductor company’s stock after purchasing an additional 15,142 shares during the quarter. Weiss Asset Management LP’s holdings in Microchip Technology were worth $1,202,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of MCHP. EFG International AG bought a new stake in Microchip Technology in the fourth quarter worth $29,000. Miller Capital Partners Inc. bought a new position in Microchip Technology during the fourth quarter valued at $29,000. Reflection Asset Management bought a new position in Microchip Technology during the fourth quarter valued at $33,000. Garton & Associates Financial Advisors LLC purchased a new stake in shares of Microchip Technology in the fourth quarter valued at $33,000. Finally, Caitong International Asset Management Co. Ltd raised its stake in shares of 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 acquiring an additional 513 shares during the period. Hedge funds and other institutional investors own 91.51% of the company’s stock.

Microchip Technology Stock Down 1.2%

NASDAQ:MCHP opened at $77.90 on Tuesday. The company has a market cap of $42.30 billion, a price-to-earnings ratio of 370.97, a price-to-earnings-growth ratio of 0.79 and a beta of 1.74. Microchip Technology Incorporated has a twelve month low of $48.52 and a twelve month high of $105.91. The company has a current ratio of 2.09, a quick ratio of 1.18 and a debt-to-equity ratio of 0.85. The stock has a fifty day simple moving average of $90.35 and a 200-day simple moving average of $81.21.

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 analysts’ consensus estimates of $0.50 by $0.07. The firm had revenue of $1.31 billion for the quarter, compared to analysts’ expectations of $1.26 billion. Microchip Technology had a net margin of 4.88% and a return on equity of 10.87%. The business’s revenue for the quarter was up 35.1% on a year-over-year basis. During the same period in the prior year, the business posted $0.11 earnings per share. Microchip Technology has set its Q1 2027 guidance at 0.670-0.710 EPS. Analysts anticipate that Microchip Technology Incorporated will post 2.7 EPS for the current year.

Microchip Technology Announces Dividend

The business also recently announced 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 dividend on an annualized basis and a yield of 2.3%. The ex-dividend date was Friday, May 22nd. Microchip Technology’s dividend payout ratio is currently 866.67%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on the stock. Wall Street Zen raised shares of Microchip Technology from a “hold” rating to a “buy” rating in a research note on Saturday, May 9th. TD Cowen reduced their price objective on shares of Microchip Technology from $105.00 to $90.00 and set a “hold” rating on the stock in a research report on Monday, July 13th. UBS Group reissued a “buy” rating on shares of Microchip Technology in a research note on Tuesday, June 2nd. Needham & Company LLC raised their price objective on shares of Microchip Technology from $84.00 to $120.00 and gave the stock a “buy” rating in a research note on Friday, May 8th. Finally, Citigroup boosted their target price on Microchip Technology from $91.00 to $113.00 and gave the company a “buy” rating in a research report on Friday, May 8th. Four analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating and seven have assigned a Hold rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $99.76.

Insider Activity at Microchip Technology

In other news, Director Matthew W. Chapman sold 10,000 shares of the firm’s stock in a transaction that occurred on Friday, May 15th. The shares were sold at an average price of $95.48, for a total transaction of $954,800.00. Following the transaction, the director directly owned 20,665 shares of the company’s stock, valued at approximately $1,973,094.20. This trade represents a 32.61% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO James Eric Bjornholt sold 3,667 shares of Microchip Technology stock in a transaction that occurred 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 sale, the chief financial officer directly owned 28,573 shares of the company’s stock, valued at $2,596,428.51. This represents a 11.37% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 136,721 shares of company stock valued at $12,793,719 over 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.