Jennison Associates LLC Raises Position in Microchip Technology Incorporated $MCHP

Jennison Associates LLC lifted its position in shares of Microchip Technology Incorporated (NASDAQ:MCHP) by 33.9% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 331,860 shares of the semiconductor company’s stock after acquiring an additional 84,087 shares during the quarter. Jennison Associates LLC’s holdings in Microchip Technology were worth $30,266,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. Resonant Capital Advisors LLC boosted its holdings in Microchip Technology by 0.9% in the 1st quarter. Resonant Capital Advisors LLC now owns 12,542 shares of the semiconductor company’s stock valued at $810,000 after purchasing an additional 118 shares in the last quarter. Apella Capital LLC raised its stake in shares of Microchip Technology by 4.8% during the 2nd quarter. Apella Capital LLC now owns 2,669 shares of the semiconductor company’s stock worth $225,000 after buying an additional 122 shares in the last quarter. MCF Advisors LLC raised its stake in shares of Microchip Technology by 25.8% during the 4th quarter. MCF Advisors LLC now owns 659 shares of the semiconductor company’s stock worth $42,000 after buying an additional 135 shares in the last quarter. Gagnon Securities LLC lifted its holdings in shares of Microchip Technology by 0.5% in the 4th quarter. Gagnon Securities LLC now owns 27,162 shares of the semiconductor company’s stock valued at $1,731,000 after buying an additional 137 shares during the period. Finally, Evelyn Partners Investment Management LLP lifted its holdings in shares of Microchip Technology by 1.5% in the 4th quarter. Evelyn Partners Investment Management LLP now owns 9,300 shares of the semiconductor company’s stock valued at $593,000 after buying an additional 140 shares during the period. 91.51% of the stock is owned by hedge funds and other institutional investors.

Microchip Technology Stock Performance

NASDAQ MCHP opened at $79.17 on Friday. Microchip Technology Incorporated has a 1-year low of $48.52 and a 1-year high of $105.91. The company has a market capitalization of $42.99 billion, a P/E ratio of 118.17, a PEG ratio of 0.61 and a beta of 1.76. The business has a 50 day moving average price of $85.72 and a 200 day moving average price of $81.47. The company has a debt-to-equity ratio of 0.83, a current ratio of 1.92 and a quick ratio of 1.11.

Microchip Technology (NASDAQ:MCHP) last issued its quarterly earnings data on Thursday, August 6th. The semiconductor company reported $0.76 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.70 by $0.06. The firm had revenue of $1.48 billion during the quarter, compared to analysts’ expectations of $1.46 billion. Microchip Technology had a return on equity of 14.97% and a net margin of 9.34%.Microchip Technology’s revenue was up 38.0% on a year-over-year basis. During the same period in the previous year, the firm posted $0.27 earnings per share. Microchip Technology has set its Q2 2027 guidance at 0.910-0.950 EPS. Sell-side analysts expect that Microchip Technology Incorporated will post 2.81 EPS for the current fiscal year.

Microchip Technology Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, September 9th. Stockholders of record on Monday, August 24th will be paid a dividend of $0.455 per share. This represents a $1.82 annualized dividend and a dividend yield of 2.3%. The ex-dividend date of this dividend is Monday, August 24th. Microchip Technology’s payout ratio is 271.64%.

Insider Buying and Selling

In other Microchip Technology news, Director Matthew W. Chapman sold 3,000 shares of the firm’s stock in a transaction dated Thursday, May 28th. The shares were sold at an average price of $97.52, for a total transaction of $292,560.00. Following the completion of the transaction, the director directly owned 17,665 shares in the company, valued at approximately $1,722,690.80. This trade represents a 14.52% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, COO Richard J. Simoncic sold 5,000 shares of Microchip Technology stock in a transaction dated Thursday, June 4th. The stock was sold at an average price of $97.52, for a total transaction 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. The trade was a 3.69% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 16,667 shares of company stock worth $1,580,580 in the last three months. Corporate insiders own 1.79% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on MCHP. Citigroup dropped their price objective on Microchip Technology from $113.00 to $95.00 and set a “buy” rating on the stock in a report on Friday, August 7th. Susquehanna raised their target price on Microchip Technology from $95.00 to $120.00 and gave the company a “positive” rating in a report on Friday, May 8th. TD Cowen decreased their target price on shares of Microchip Technology from $105.00 to $90.00 and set a “hold” rating on the stock in a research report on Monday, July 13th. Needham & Company LLC upped their price target on shares of Microchip Technology from $84.00 to $120.00 and gave the stock a “buy” rating in a research note on Friday, May 8th. Finally, Zacks Research upgraded shares of Microchip Technology from a “hold” rating to a “strong-buy” rating in a report on Tuesday, May 12th. Three equities research analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating and seven have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $98.85.

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.