CenterBook Partners LP Buys 34,594 Shares of Microchip Technology Incorporated $MCHP

CenterBook Partners LP grew its stake in shares of Microchip Technology Incorporated (NASDAQ:MCHP) by 102.6% in the 3rd quarter, Holdings Channel.com reports. The fund owned 68,302 shares of the semiconductor company’s stock after acquiring an additional 34,594 shares during the period. CenterBook Partners LP’s holdings in Microchip Technology were worth $4,386,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. Vanguard Group Inc. raised its stake in Microchip Technology by 2.1% during the 3rd quarter. Vanguard Group Inc. now owns 72,075,558 shares of the semiconductor company’s stock valued at $4,628,692,000 after purchasing an additional 1,507,554 shares during the period. Mizuho Markets Cayman LP bought a new position in Microchip Technology in the 2nd quarter worth approximately $107,584,000. Boston Partners grew its holdings in Microchip Technology by 38.0% during the 2nd quarter. Boston Partners now owns 14,802,525 shares of the semiconductor company’s stock valued at $1,040,114,000 after buying an additional 4,076,112 shares in the last quarter. Assenagon Asset Management S.A. grew its holdings in Microchip Technology by 498.0% during the 3rd quarter. Assenagon Asset Management S.A. now owns 2,034,797 shares of the semiconductor company’s stock valued at $130,675,000 after buying an additional 1,694,533 shares in the last quarter. Finally, Voya Investment Management LLC raised its position in shares of Microchip Technology by 37.2% during the third quarter. Voya Investment Management LLC now owns 3,361,581 shares of the semiconductor company’s stock valued at $215,881,000 after buying an additional 911,731 shares during the last quarter. Institutional investors own 91.51% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on the stock. Stifel Nicolaus set a $90.00 target price on shares of Microchip Technology in a research report on Friday, February 6th. UBS Group boosted their price target on shares of Microchip Technology from $85.00 to $95.00 and gave the stock a “buy” rating in a research note on Monday, January 26th. B. Riley Financial increased their price objective on shares of Microchip Technology from $85.00 to $95.00 and gave the company a “buy” rating in a report on Monday, January 12th. BNP Paribas Exane raised Microchip Technology from a “neutral” rating to an “outperform” rating and set a $90.00 target price on the stock in a report on Thursday, January 22nd. Finally, Wells Fargo & Company boosted their target price on Microchip Technology from $68.00 to $70.00 and gave the stock an “equal weight” rating in a research report on Friday, February 6th. Four research analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and seven have issued a Hold rating to the company’s stock. According to data from MarketBeat, Microchip Technology has a consensus rating of “Moderate Buy” and a consensus price target of $86.00.

Insider Activity

In related news, CEO Steve Sanghi sold 98,814 shares of the firm’s stock in a transaction that occurred on Wednesday, January 28th. The stock was sold at an average price of $80.55, for a total transaction of $7,959,467.70. Following the completion of the sale, the chief executive officer directly owned 9,922,319 shares of the company’s stock, valued at approximately $799,242,795.45. This trade represents a 0.99% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO James Eric Bjornholt sold 4,292 shares of the company’s stock in a transaction on Tuesday, November 25th. The shares were sold at an average price of $50.39, for a total value of $216,273.88. Following the completion of the transaction, the chief financial officer directly owned 30,089 shares in the company, valued at $1,516,184.71. This trade represents a 12.48% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 121,615 shares of company stock valued at $9,641,654 in the last 90 days. Company insiders own 1.94% of the company’s stock.

Microchip Technology Stock Up 0.2%

Shares of NASDAQ MCHP opened at $79.11 on Thursday. The company has a current ratio of 2.16, a quick ratio of 1.16 and a debt-to-equity ratio of 0.82. Microchip Technology Incorporated has a 12-month low of $34.13 and a 12-month high of $83.35. The firm’s 50-day moving average price is $72.40 and its 200-day moving average price is $66.03. The stock has a market capitalization of $42.81 billion, a price-to-earnings ratio of -272.79, a P/E/G ratio of 1.99 and a beta of 1.46.

Microchip Technology (NASDAQ:MCHP) last issued its quarterly earnings data on Thursday, February 5th. The semiconductor company reported $0.44 earnings per share for the quarter, topping the consensus estimate of $0.43 by $0.01. Microchip Technology had a positive return on equity of 7.16% and a negative net margin of 1.57%.The company had revenue of $1.19 billion for the quarter, compared to analysts’ expectations of $1.19 billion. During the same period in the previous year, the firm posted $0.20 earnings per share. The firm’s revenue for the quarter was up 15.6% on a year-over-year basis. Microchip Technology has set its Q4 2026 guidance at 0.480-0.520 EPS. On average, equities research analysts anticipate that Microchip Technology Incorporated will post 1.03 EPS for the current fiscal year.

Microchip Technology Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, March 10th. Stockholders of record on Monday, February 23rd will be paid a $0.455 dividend. The ex-dividend date of this dividend is Monday, February 23rd. This represents a $1.82 annualized dividend and a dividend yield of 2.3%. Microchip Technology’s dividend payout ratio is currently -627.59%.

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.