Gateway Wealth Partners LLC Purchases New Shares in Microchip Technology Incorporated $MCHP

Gateway Wealth Partners LLC acquired a new stake in Microchip Technology Incorporated (NASDAQ:MCHP) in the 1st quarter, according to the company in its most recent filing with the SEC. The fund acquired 8,757 shares of the semiconductor company’s stock, valued at approximately $566,000.

Other institutional investors and hedge funds also recently bought and sold shares of the company. AQR Capital Management LLC grew its holdings in Microchip Technology by 51.3% during the 1st quarter. AQR Capital Management LLC now owns 17,201 shares of the semiconductor company’s stock worth $827,000 after acquiring an additional 5,835 shares during the last quarter. Geneos Wealth Management Inc. raised its stake in shares of Microchip Technology by 101.8% in the first quarter. Geneos Wealth Management Inc. now owns 1,221 shares of the semiconductor company’s stock worth $59,000 after acquiring an additional 616 shares during the last quarter. Cresset Asset Management LLC raised its stake in shares of Microchip Technology by 5.4% in the second quarter. Cresset Asset Management LLC now owns 11,433 shares of the semiconductor company’s stock worth $805,000 after acquiring an additional 589 shares during the last quarter. AXA S.A. lifted its position in shares of Microchip Technology by 21.3% during the second quarter. AXA S.A. now owns 51,552 shares of the semiconductor company’s stock worth $3,628,000 after purchasing an additional 9,043 shares in the last quarter. Finally, Treasurer of the State of North Carolina lifted its position in shares of Microchip Technology by 1.6% during the second quarter. Treasurer of the State of North Carolina now owns 246,530 shares of the semiconductor company’s stock worth $17,348,000 after purchasing an additional 3,851 shares in the last quarter. Institutional investors and hedge funds own 91.51% of the company’s stock.

Microchip Technology Trading Up 5.1%

MCHP opened at $75.01 on Friday. The firm has a 50 day simple moving average of $89.25 and a 200 day simple moving average of $81.20. Microchip Technology Incorporated has a fifty-two week low of $48.52 and a fifty-two week high of $105.91. The company has a market cap of $40.73 billion, a price-to-earnings ratio of 357.21, a price-to-earnings-growth ratio of 0.72 and a beta of 1.74. The company has a debt-to-equity ratio of 0.85, a current ratio of 2.09 and a quick ratio of 1.18.

Microchip Technology (NASDAQ:MCHP) last announced its quarterly earnings data on Thursday, May 7th. The semiconductor company reported $0.57 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.50 by $0.07. Microchip Technology had a net margin of 4.88% and a return on equity of 10.87%. The firm had revenue of $1.31 billion for the quarter, compared to analysts’ expectations of $1.26 billion. During the same period last year, the firm earned $0.11 earnings per share. The business’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. On average, sell-side analysts anticipate that Microchip Technology Incorporated will post 2.7 earnings per share for the current year.

Microchip Technology Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, June 5th. Stockholders of record on Friday, May 22nd were given a $0.455 dividend. This represents a $1.82 annualized dividend and a dividend yield of 2.4%. The ex-dividend date was Friday, May 22nd. Microchip Technology’s dividend payout ratio (DPR) is currently 866.67%.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on MCHP. Wells Fargo & Company lowered their price target on shares of Microchip Technology from $95.00 to $88.00 and set an “equal weight” rating for the company in a report on Monday, July 20th. Citigroup upped their price objective on Microchip Technology from $91.00 to $113.00 and gave the stock a “buy” rating in a report on Friday, May 8th. Wall Street Zen raised Microchip Technology from a “hold” rating to a “buy” rating in a research note on Saturday, May 9th. Barclays boosted their target price on Microchip Technology from $80.00 to $105.00 and gave the stock an “equal weight” rating in a research report on Monday, May 11th. Finally, Weiss Ratings lowered Microchip Technology from a “hold (c)” rating to a “hold (c-)” rating in a research note on Friday, July 24th. Four investment analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and seven have given a Hold rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $99.76.

Insider Buying and Selling

In other Microchip Technology news, COO Richard J. Simoncic sold 5,000 shares of the 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 owned 130,508 shares of the company’s stock, valued at approximately $12,727,140.16. This represents a 3.69% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed 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 value of $292,560.00. Following the completion of the transaction, the director directly owned 17,665 shares in the company, valued at $1,722,690.80. The trade was a 14.52% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 26,750 shares of company stock valued at $2,543,170 over the last three months. Company insiders own 1.79% 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.