Geode Capital Management LLC Raises Stock Position in Microchip Technology Incorporated $MCHP

Geode Capital Management LLC lifted its stake in Microchip Technology Incorporated (NASDAQ:MCHP) by 2.4% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 14,842,341 shares of the semiconductor company’s stock after buying an additional 343,210 shares during the period. Geode Capital Management LLC owned approximately 2.75% of Microchip Technology worth $1,040,544,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of MCHP. Stratos Wealth Partners LTD. grew its holdings in shares of Microchip Technology by 16.1% during the first quarter. Stratos Wealth Partners LTD. now owns 5,433 shares of the semiconductor company’s stock worth $263,000 after purchasing an additional 753 shares during the last quarter. Ballentine Partners LLC lifted its holdings in shares of Microchip Technology by 6.1% in the 1st quarter. Ballentine Partners LLC now owns 4,999 shares of the semiconductor company’s stock valued at $242,000 after purchasing an additional 286 shares during the last quarter. Stephens Inc. AR boosted its position in shares of Microchip Technology by 2.9% in the 1st quarter. Stephens Inc. AR now owns 26,408 shares of the semiconductor company’s stock valued at $1,278,000 after purchasing an additional 739 shares during the period. CWM LLC boosted its position in shares of Microchip Technology by 8.9% in the 1st quarter. CWM LLC now owns 40,537 shares of the semiconductor company’s stock valued at $1,962,000 after purchasing an additional 3,299 shares during the period. Finally, Bleakley Financial Group LLC grew its stake in Microchip Technology by 94.1% during the 1st quarter. Bleakley Financial Group LLC now owns 11,935 shares of the semiconductor company’s stock worth $578,000 after buying an additional 5,785 shares during the last quarter. 91.51% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

MCHP has been the subject of a number of research reports. Needham & Company LLC reduced their price objective on Microchip Technology from $77.00 to $73.00 and set a “buy” rating for the company in a research note on Friday, November 7th. Raymond James Financial lifted their target price on shares of Microchip Technology from $65.00 to $75.00 and gave the company a “strong-buy” rating in a report on Friday, August 8th. Susquehanna decreased their price target on shares of Microchip Technology from $85.00 to $75.00 and set a “positive” rating for the company in a research note on Friday, November 7th. Morgan Stanley raised their price objective on shares of Microchip Technology from $63.00 to $68.00 and gave the stock an “equal weight” rating in a research report on Tuesday, November 4th. Finally, Piper Sandler upped their target price on shares of Microchip Technology from $65.00 to $80.00 and gave the company an “overweight” rating in a report on Friday, August 8th. One research analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, seven have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, Microchip Technology has an average rating of “Moderate Buy” and a consensus price target of $73.47.

Microchip Technology Price Performance

Shares of MCHP opened at $54.81 on Friday. The company has a current ratio of 2.31, a quick ratio of 1.33 and a debt-to-equity ratio of 0.80. The stock’s 50 day moving average is $63.53 and its two-hundred day moving average is $64.39. Microchip Technology Incorporated has a twelve month low of $34.13 and a twelve month high of $77.20. The firm has a market capitalization of $29.62 billion, a PE ratio of -161.21, a P/E/G ratio of 1.79 and a beta of 1.57.

Microchip Technology (NASDAQ:MCHP) last posted its quarterly earnings results on Thursday, November 6th. The semiconductor company reported $0.35 EPS for the quarter, beating the consensus estimate of $0.33 by $0.02. Microchip Technology had a positive return on equity of 6.24% and a negative net margin of 3.50%.The business had revenue of $1.14 billion during the quarter, compared to analysts’ expectations of $1.13 billion. During the same period last year, the firm earned $0.46 EPS. The company’s quarterly revenue was down 2.0% compared to the same quarter last year. Microchip Technology has set its Q3 2026 guidance at 0.340-0.400 EPS. Research analysts anticipate that Microchip Technology Incorporated will post 1.03 earnings per share for the current year.

Microchip Technology Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 9th. Shareholders of record on Monday, November 24th will be given a dividend of $0.455 per share. This represents a $1.82 annualized dividend and a dividend yield of 3.3%. The ex-dividend date is Monday, November 24th. Microchip Technology’s payout ratio is presently -404.44%.

Insiders Place Their Bets

In other news, CFO James Eric Bjornholt sold 7,356 shares of the company’s stock in a transaction on Monday, August 25th. The shares were sold at an average price of $68.72, for a total transaction of $505,504.32. Following the transaction, the chief financial officer directly owned 30,010 shares of the company’s stock, valued at $2,062,287.20. This represents a 19.69% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Matthew W. Chapman sold 10,000 shares of the firm’s stock in a transaction dated Monday, August 25th. The shares were sold at an average price of $68.25, for a total transaction of $682,500.00. Following the completion of the sale, the director owned 30,665 shares of the company’s stock, valued at $2,092,886.25. This trade represents a 24.59% decrease in their position. The disclosure for this sale is available in the SEC filing. Corporate insiders own 1.94% of the company’s stock.

Microchip Technology Company Profile

Microchip Technology Incorporated engages in the development, manufacture, and sale of smart, connected, and secure embedded control solutions in the Americas, Europe, and Asia. The company offers general purpose 8-bit, 16-bit, and 32-bit mixed-signal microcontrollers; 32-bit embedded mixed-signal microprocessors; and specialized microcontrollers for automotive, industrial, computing, communications, lighting, power supplies, motor control, human machine interface, security, wired connectivity, and wireless connectivity applications.