Peregrine Investment Management Inc. Makes New $5.49 Million Investment in Microchip Technology Incorporated $MCHP

Peregrine Investment Management Inc. bought a new position in Microchip Technology Incorporated (NASDAQ:MCHP) in the 1st quarter, Holdings Channel.com reports. The fund bought 85,000 shares of the semiconductor company’s stock, valued at approximately $5,492,000. Microchip Technology comprises approximately 4.3% of Peregrine Investment Management Inc.’s investment portfolio, making the stock its 14th biggest holding.

Other large investors also recently added to or reduced their stakes in the company. EFG International AG bought a new stake in Microchip Technology in the fourth quarter worth approximately $29,000. Miller Capital Partners Inc. bought a new stake in Microchip Technology in the fourth quarter worth approximately $29,000. Garton & Associates Financial Advisors LLC bought a new stake in Microchip Technology in the fourth quarter worth approximately $33,000. Reflection Asset Management bought a new stake in shares of Microchip Technology during the 4th quarter worth $33,000. Finally, Caitong International Asset Management Co. Ltd boosted its holdings in shares of Microchip Technology by 4,663.6% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 524 shares of the semiconductor company’s stock worth $33,000 after buying an additional 513 shares during the period. 91.51% of the stock is owned by institutional investors.

Microchip Technology Price Performance

Shares of Microchip Technology stock opened at $96.30 on Friday. The company has a debt-to-equity ratio of 0.85, a current ratio of 2.09 and a quick ratio of 1.18. Microchip Technology Incorporated has a fifty-two week low of $48.52 and a fifty-two week high of $105.91. The firm has a fifty day moving average price of $84.54 and a two-hundred day moving average price of $74.07. The company has a market cap of $52.20 billion, a PE ratio of 458.59, a price-to-earnings-growth ratio of 1.02 and a beta of 1.73.

Microchip Technology (NASDAQ:MCHP) last issued its quarterly earnings results on Thursday, May 7th. The semiconductor company reported $0.57 earnings per share for the quarter, beating analysts’ consensus estimates of $0.50 by $0.07. Microchip Technology had a net margin of 4.88% and a return on equity of 10.87%. The firm had revenue of $1.31 billion during the quarter, compared to the consensus estimate of $1.26 billion. During the same period in the prior year, the firm earned $0.11 EPS. The business’s 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. Analysts expect that Microchip Technology Incorporated will post 2.58 EPS for the current year.

Microchip Technology Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, June 5th. Shareholders of record on Friday, May 22nd will be issued a $0.455 dividend. The ex-dividend date of this dividend is Friday, May 22nd. This represents a $1.82 dividend on an annualized basis and a yield of 1.9%. Microchip Technology’s dividend payout ratio is 866.67%.

Insider Activity at Microchip Technology

In other Microchip Technology news, CEO Steve Sanghi sold 76,469 shares of the stock in a transaction on Friday, May 1st. The shares were sold at an average price of $93.58, for a total value of $7,155,969.02. Following the completion of the sale, the chief executive officer directly owned 9,385,834 shares of the company’s stock, valued at $878,326,345.72. This represents a 0.81% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO James Eric Bjornholt sold 3,667 shares of the stock in a transaction on Friday, May 22nd. The shares were sold at an average price of $90.87, for a total transaction of $333,220.29. Following the completion of the sale, 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 ownership of the stock. 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 sold 548,302 shares of company stock valued at $49,186,035 in the last quarter. Company insiders own 1.94% of the company’s stock.

Analyst Ratings Changes

Several analysts recently issued reports on the stock. UBS Group reaffirmed a “buy” rating on shares of Microchip Technology in a report on Tuesday. Susquehanna boosted their target price on shares of Microchip Technology from $95.00 to $120.00 and gave the stock a “positive” rating in a research report on Friday, May 8th. Weiss Ratings raised shares of Microchip Technology from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Friday, May 22nd. KeyCorp reiterated an “overweight” rating and issued a $85.00 price objective on shares of Microchip Technology in a research note on Friday, February 6th. Finally, Mizuho lifted their price objective on Microchip Technology from $83.00 to $90.00 and gave the stock an “outperform” rating in a research note on Friday, February 6th. Four analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and seven have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $97.52.

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.