Castleark Management LLC Lowers Stake in Microchip Technology Incorporated $MCHP

Castleark Management LLC lowered its holdings in shares of Microchip Technology Incorporated (NASDAQ:MCHP) by 60.3% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 204,874 shares of the semiconductor company’s stock after selling 310,620 shares during the period. Castleark Management LLC’s holdings in Microchip Technology were worth $13,237,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of MCHP. Gateway Wealth Partners LLC bought a new stake in shares of Microchip Technology in the 1st quarter worth approximately $566,000. Weiss Asset Management LP increased its position in Microchip Technology by 437.9% during the 1st quarter. Weiss Asset Management LP now owns 18,600 shares of the semiconductor company’s stock valued at $1,202,000 after buying an additional 15,142 shares in the last quarter. OMERS ADMINISTRATION Corp increased its position in Microchip Technology by 30.2% during the 1st quarter. OMERS ADMINISTRATION Corp now owns 25,163 shares of the semiconductor company’s stock valued at $1,626,000 after buying an additional 5,831 shares in the last quarter. Lombard Odier Asset Management Switzerland SA purchased a new position in Microchip Technology during the first quarter valued at $1,705,000. Finally, Waverly Advisors LLC purchased a new position in Microchip Technology during the first quarter valued at $341,000. Hedge funds and other institutional investors own 91.51% of the company’s stock.

Analysts Set New Price Targets

Several research firms have commented on MCHP. Rosenblatt Securities boosted their target price on Microchip Technology from $115.00 to $120.00 and gave the stock a “buy” rating in a report on Friday, May 8th. Barclays raised their price target on Microchip Technology from $80.00 to $105.00 and gave the company an “equal weight” rating in a report on Monday, May 11th. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $125.00 price target on shares of Microchip Technology in a research report on Wednesday, May 13th. Weiss Ratings cut shares of Microchip Technology from a “hold (c)” rating to a “hold (c-)” rating in a research note on Friday. Finally, UBS Group reissued a “buy” rating on shares of Microchip Technology in a research report on Tuesday, June 2nd. Four 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 data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $99.76.

Insiders Place Their Bets

In other Microchip Technology news, COO Richard J. Simoncic sold 5,000 shares of the business’s 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 completion of the transaction, the chief operating officer owned 130,508 shares of the company’s stock, valued at approximately $12,727,140.16. The trade was a 3.69% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO James Eric Bjornholt sold 3,667 shares of the business’s stock in a transaction dated Friday, May 22nd. The stock was sold at an average price of $90.87, for a total value of $333,220.29. Following the completion of the transaction, the chief financial officer directly owned 28,573 shares of the company’s stock, valued at approximately $2,596,428.51. This trade 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 a total of 136,721 shares of company stock valued at $12,793,719 over the last quarter. Corporate insiders own 1.79% of the company’s stock.

Microchip Technology Stock Performance

MCHP stock opened at $78.86 on Monday. The stock’s 50 day simple moving average is $90.64 and its 200 day simple moving average is $81.18. 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 Incorporated has a 12-month low of $48.52 and a 12-month high of $105.91. The stock has a market capitalization of $42.82 billion, a PE ratio of 375.54, a price-to-earnings-growth ratio of 0.79 and a beta of 1.74.

Microchip Technology (NASDAQ:MCHP) last posted its 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. Microchip Technology had a return on equity of 10.87% and a net margin of 4.88%.The business had revenue of $1.31 billion during the quarter, compared to analyst estimates of $1.26 billion. During the same quarter last year, the company earned $0.11 EPS. The company’s quarterly revenue was up 35.1% compared to the same quarter last year. Microchip Technology has set its Q1 2027 guidance at 0.670-0.710 EPS. As a group, research analysts forecast that Microchip Technology Incorporated will post 2.7 earnings per share for the current fiscal year.

Microchip Technology Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 5th. Investors of record on Friday, May 22nd were given a dividend of $0.455 per share. The ex-dividend date of this dividend was Friday, May 22nd. This represents a $1.82 annualized dividend and a dividend yield of 2.3%. Microchip Technology’s dividend payout ratio (DPR) is 866.67%.

Microchip Technology Company 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.