Geode Capital Management LLC Has $977.64 Million Stock Position in Microchip Technology Incorporated $MCHP

Geode Capital Management LLC boosted its position in shares of Microchip Technology Incorporated (NASDAQ:MCHP) by 1.4% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 15,394,985 shares of the semiconductor company’s stock after acquiring an additional 213,188 shares during the period. Geode Capital Management LLC’s holdings in Microchip Technology were worth $977,638,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its position in shares of Microchip Technology by 2.0% in 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 acquiring an additional 1,430,781 shares during the period. Boston Partners increased its stake in Microchip Technology by 9.5% during the third 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. Victory Capital Management Inc. lifted its position in shares of Microchip Technology by 11.3% in the 3rd quarter. Victory Capital Management Inc. now owns 12,006,088 shares of the semiconductor company’s stock worth $806,821,000 after acquiring an additional 1,215,939 shares during the period. Bank of America Corp DE raised its stake in shares of Microchip Technology by 18.8% in the third quarter. Bank of America Corp DE now owns 11,419,944 shares of the semiconductor company’s stock valued at $733,389,000 after purchasing an additional 1,803,831 shares in the last quarter. Finally, Barrow Hanley Mewhinney & Strauss LLC increased its holdings in Microchip Technology by 25.7% in the 3rd quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 11,048,057 shares of the semiconductor company’s stock valued at $709,506,000 after buying an additional 2,257,932 shares during the period. Institutional investors and hedge funds own 91.51% of the company’s stock.

Insider Transactions at Microchip Technology

In other Microchip Technology news, COO Richard J. Simoncic sold 5,000 shares of Microchip Technology stock in a transaction 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 sale, the chief operating officer directly owned 135,508 shares in the company, valued at approximately $12,661,867.52. The trade was a 3.56% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Steve Sanghi sold 76,469 shares of Microchip Technology stock in a transaction dated Friday, May 1st. The shares were sold at an average price of $93.58, for a total value of $7,155,969.02. Following the completion of the sale, the chief executive officer directly owned 9,385,834 shares in the company, valued at approximately $878,326,345.72. This represents a 0.81% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders have sold 548,302 shares of company stock valued at $49,186,035. 1.94% of the stock is currently owned by company insiders.

Microchip Technology Stock Down 1.4%

Shares of NASDAQ MCHP opened at $94.65 on Friday. The firm has a 50 day moving average price of $82.04 and a 200 day moving average price of $72.80. 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 cap of $51.31 billion, a P/E ratio of 450.74, a P/E/G ratio of 1.01 and a beta of 1.75. Microchip Technology Incorporated has a 52-week low of $48.52 and a 52-week high of $105.91.

Microchip Technology (NASDAQ:MCHP) last announced its quarterly earnings results on Thursday, May 7th. The semiconductor company reported $0.57 earnings per share (EPS) for the quarter, beating 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 company had revenue of $1.31 billion during the quarter, compared to analyst estimates of $1.26 billion. During the same quarter in the previous year, the business earned $0.11 EPS. The firm’s revenue was up 35.1% on a year-over-year basis. Microchip Technology has set its Q1 2027 guidance at 0.670-0.710 EPS. Analysts expect that Microchip Technology Incorporated will post 2.58 EPS for the current year.

Microchip Technology Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, June 5th. Shareholders of record on Friday, May 22nd will be issued a dividend of $0.455 per share. This represents a $1.82 dividend on an annualized basis and a yield of 1.9%. The ex-dividend date is Friday, May 22nd. Microchip Technology’s dividend payout ratio is 866.67%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on MCHP shares. Needham & Company LLC upped their price objective on Microchip Technology from $84.00 to $120.00 and gave the company a “buy” rating in a research note on Friday, May 8th. Citigroup boosted their price target on shares of Microchip Technology from $91.00 to $113.00 and gave the company a “buy” rating in a research report on Friday, May 8th. UBS Group increased their price target on Microchip Technology from $115.00 to $130.00 and gave the stock a “buy” rating in a research report on Friday, May 8th. Truist Financial lifted their price target on Microchip Technology from $69.00 to $105.00 and gave the company a “hold” rating in a report on Friday, May 8th. Finally, JPMorgan Chase & Co. increased their price target on shares of Microchip Technology from $95.00 to $120.00 and gave the company an “overweight” rating in a research note on Friday, May 8th. Four equities research analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and seven have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $97.52.

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.