19,681 Shares in Microchip Technology Incorporated $MCHP Bought by Greenwood Capital Associates LLC

Greenwood Capital Associates LLC bought a new stake in Microchip Technology Incorporated (NASDAQ:MCHP) during the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor bought 19,681 shares of the semiconductor company’s stock, valued at approximately $1,272,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. AQR Capital Management LLC raised its holdings in shares of Microchip Technology by 51.3% during the first quarter. AQR Capital Management LLC now owns 17,201 shares of the semiconductor company’s stock worth $827,000 after purchasing an additional 5,835 shares during the period. Geneos Wealth Management Inc. raised its holdings in shares of Microchip Technology by 101.8% during the first quarter. Geneos Wealth Management Inc. now owns 1,221 shares of the semiconductor company’s stock valued at $59,000 after buying an additional 616 shares during the last quarter. Cresset Asset Management LLC raised its stake in Microchip Technology by 5.4% during the 2nd quarter. Cresset Asset Management LLC now owns 11,433 shares of the semiconductor company’s stock valued at $805,000 after acquiring an additional 589 shares in the last quarter. AXA S.A. lifted its holdings in Microchip Technology by 21.3% in 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 during the period. Finally, Treasurer of the State of North Carolina lifted its stake in shares of Microchip Technology by 1.6% in the 2nd quarter. Treasurer of the State of North Carolina now owns 246,530 shares of the semiconductor company’s stock worth $17,348,000 after acquiring an additional 3,851 shares during the period. 91.51% of the stock is owned by institutional investors and hedge funds.

Microchip Technology Stock Up 3.2%

Shares of MCHP stock opened at $88.26 on Friday. The firm has a market cap of $47.93 billion, a PE ratio of 420.31, a price-to-earnings-growth ratio of 0.87 and a beta of 1.74. Microchip Technology Incorporated has a 12 month low of $48.52 and a 12 month high of $105.91. The stock has a 50 day moving average of $93.67 and a 200-day moving average of $79.76. The company has a quick ratio of 1.18, a current ratio of 2.09 and a debt-to-equity ratio of 0.85.

Microchip Technology (NASDAQ:MCHP) last posted its quarterly earnings results on Thursday, May 7th. The semiconductor company reported $0.57 earnings per share (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 company 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 posted $0.11 EPS. The business’s quarterly 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. On average, equities analysts predict that Microchip Technology Incorporated will post 2.66 EPS for the current year.

Microchip Technology Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, June 5th. Investors of record on Friday, May 22nd were given a $0.455 dividend. This represents a $1.82 annualized dividend and a yield of 2.1%. The ex-dividend date of this dividend was Friday, May 22nd. Microchip Technology’s dividend payout ratio (DPR) is 866.67%.

Analyst Ratings Changes

Several analysts have recently weighed in on the company. Barclays upped their price objective on Microchip Technology from $80.00 to $105.00 and gave the company an “equal weight” rating in a report on Monday, May 11th. Wells Fargo & Company lifted 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. Susquehanna lifted their target price on Microchip Technology from $95.00 to $120.00 and gave the company a “positive” rating in a research note on Friday, May 8th. UBS Group reaffirmed a “buy” rating on shares of Microchip Technology in a research note on Tuesday, June 2nd. Finally, Truist Financial increased their price objective on Microchip Technology from $69.00 to $105.00 and gave the stock a “hold” rating in a report on Friday, May 8th. Four equities research analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating and seven have issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $98.67.

Insider Buying and Selling at Microchip Technology

In related news, CEO Steve Sanghi sold 416,581 shares of the business’s stock in a transaction on Thursday, April 23rd. The stock was sold at an average price of $88.53, for a total value of $36,879,915.93. Following the sale, the chief executive officer owned 9,495,805 shares of the company’s stock, valued at $840,663,616.65. The trade was a 4.20% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, COO Richard J. Simoncic sold 5,000 shares of the business’s stock in a transaction on Thursday, June 4th. The shares were sold at an average price of $97.52, for a total transaction of $487,600.00. Following the completion of the sale, the chief operating officer owned 130,508 shares in the company, valued at $12,727,140.16. This represents a 3.69% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 553,302 shares of company stock valued at $49,673,635 over the last quarter. 1.94% of the stock is currently owned by insiders.

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.