Victory Capital Management Inc. Boosts Holdings in Microchip Technology Incorporated $MCHP

Victory Capital Management Inc. grew its position in Microchip Technology Incorporated (NASDAQ:MCHP) by 11.4% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 13,375,920 shares of the semiconductor company’s stock after buying an additional 1,369,832 shares during the period. Victory Capital Management Inc.’s holdings in Microchip Technology were worth $852,317,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in MCHP. Vanguard Group Inc. boosted its position in shares of Microchip Technology by 2.0% during the 4th quarter. Vanguard Group Inc. now owns 73,506,339 shares of the semiconductor company’s stock worth $4,683,824,000 after purchasing an additional 1,430,781 shares during the period. Boston Partners boosted its position in shares of 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 boosted its position 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 worth $977,638,000 after purchasing an additional 213,188 shares during the period. Bank of America Corp DE boosted its position in shares of Microchip Technology by 18.8% during the 3rd quarter. Bank of America Corp DE now owns 11,419,944 shares of the semiconductor company’s stock worth $733,389,000 after purchasing an additional 1,803,831 shares during the period. Finally, Barrow Hanley Mewhinney & Strauss LLC boosted its position in shares of Microchip Technology by 25.7% during the 3rd quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 11,048,057 shares of the semiconductor company’s stock worth $709,506,000 after purchasing an additional 2,257,932 shares during the period. Hedge funds and other institutional investors own 91.51% of the company’s stock.

Insider Activity at Microchip Technology

In related news, CFO James Eric Bjornholt sold 3,667 shares of Microchip Technology stock in a transaction 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 in the company, valued at $2,596,428.51. This trade represents a 11.37% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Steve Sanghi sold 76,469 shares of Microchip Technology stock in a transaction on Friday, May 1st. The stock was sold at an average price of $93.58, for a total transaction of $7,155,969.02. Following the sale, the chief executive officer owned 9,385,834 shares in the company, valued at $878,326,345.72. This represents a 0.81% decrease in their ownership of the stock. 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 553,302 shares of company stock valued at $49,673,635 over the last quarter. 1.94% of the stock is owned by insiders.

Microchip Technology Price Performance

Shares of MCHP opened at $95.24 on Friday. Microchip Technology Incorporated has a twelve month low of $48.52 and a twelve month high of $105.91. The firm’s fifty day simple moving average is $87.85 and its 200-day simple moving average is $75.61. The firm has a market capitalization of $51.63 billion, a price-to-earnings ratio of 453.55, a PEG ratio of 0.98 and a beta of 1.73. The company has a current ratio of 2.09, a quick ratio of 1.18 and a debt-to-equity ratio of 0.85.

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 net margin of 4.88% and a return on equity of 10.87%. The business had revenue of $1.31 billion for the quarter, compared to analyst estimates of $1.26 billion. During the same period last year, the business earned $0.11 EPS. The company’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. Equities analysts forecast that Microchip Technology Incorporated will post 2.58 EPS for the current fiscal year.

Microchip Technology Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, June 5th. Investors of record on Friday, May 22nd were paid a dividend of $0.455 per share. This represents a $1.82 annualized dividend and a yield of 1.9%. The ex-dividend date was Friday, May 22nd. Microchip Technology’s dividend payout ratio (DPR) is currently 866.67%.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on MCHP. Truist Financial increased their price objective on shares of Microchip Technology from $69.00 to $105.00 and gave the stock a “hold” rating in a research report on Friday, May 8th. Wells Fargo & Company increased their price objective on shares of Microchip Technology from $75.00 to $95.00 and gave the stock an “equal weight” rating in a research report on Friday, May 8th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $125.00 price objective on shares of Microchip Technology in a research report on Wednesday, May 13th. JPMorgan Chase & Co. increased their price objective on shares of Microchip Technology from $95.00 to $120.00 and gave the stock an “overweight” rating in a research report on Friday, May 8th. Finally, Barclays increased their price objective on shares of Microchip Technology from $80.00 to $105.00 and gave the stock an “equal weight” rating in a research report on Monday, May 11th. Four investment analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and seven have assigned a Hold rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $98.18.

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.