Microchip Technology Incorporated $MCHP Shares Sold by Hsbc Holdings PLC

Hsbc Holdings PLC decreased its holdings in Microchip Technology Incorporated (NASDAQ:MCHP) by 8.7% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 1,019,416 shares of the semiconductor company’s stock after selling 96,832 shares during the quarter. Hsbc Holdings PLC’s holdings in Microchip Technology were worth $65,122,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Wolverine Asset Management LLC raised its position in Microchip Technology by 3,833.7% during the fourth quarter. Wolverine Asset Management LLC now owns 37,921 shares of the semiconductor company’s stock worth $2,416,000 after acquiring an additional 36,957 shares during the period. Vienna Powszechne Towarzystwo Emerytalne S.A. Vienna Insurance Group acquired a new stake in shares of Microchip Technology in the fourth quarter valued at about $6,691,000. Natixis Advisors LLC increased its stake in shares of Microchip Technology by 18.7% during the third quarter. Natixis Advisors LLC now owns 1,233,018 shares of the semiconductor company’s stock worth $79,184,000 after purchasing an additional 194,048 shares in the last quarter. Epoch Investment Partners Inc. increased its stake in shares of Microchip Technology by 16.5% during the fourth quarter. Epoch Investment Partners Inc. now owns 1,349,136 shares of the semiconductor company’s stock worth $85,967,000 after purchasing an additional 191,339 shares in the last quarter. Finally, Vanguard Group Inc. raised its position in shares of Microchip Technology by 2.0% during the 4th quarter. Vanguard Group Inc. now owns 73,506,339 shares of the semiconductor company’s stock worth $4,683,824,000 after purchasing an additional 1,430,781 shares during the last quarter. 91.51% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, Director Matthew W. Chapman sold 10,000 shares of the stock in a transaction that occurred on Friday, May 15th. The shares were sold at an average price of $95.48, for a total value of $954,800.00. Following the completion of the sale, the director owned 20,665 shares of the company’s stock, valued at $1,973,094.20. This represents a 32.61% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, COO Richard J. Simoncic sold 5,000 shares of the firm’s stock in a transaction that occurred on Thursday, June 4th. The stock was sold at an average price of $97.52, for a total transaction of $487,600.00. Following the sale, the chief operating officer owned 130,508 shares of the company’s stock, valued at $12,727,140.16. This represents a 3.69% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders sold 553,302 shares of company stock worth $49,673,635. 1.94% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on MCHP. Citigroup raised their price target on shares of Microchip Technology from $91.00 to $113.00 and gave the company a “buy” rating in a research note on Friday, May 8th. Susquehanna raised their target price on Microchip Technology from $95.00 to $120.00 and gave the company a “positive” rating in a research report on Friday, May 8th. Wells Fargo & Company lifted their price target on Microchip Technology from $75.00 to $95.00 and gave the stock an “equal weight” rating in a research note on Friday, May 8th. Needham & Company LLC boosted their price target on Microchip Technology from $84.00 to $120.00 and gave the stock a “buy” rating in a research report on Friday, May 8th. Finally, Zacks Research raised Microchip Technology from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, May 12th. Four investment analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and seven have issued a Hold rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $98.18.

Microchip Technology Trading Up 2.9%

MCHP opened at $102.71 on Tuesday. The firm has a market capitalization of $55.68 billion, a price-to-earnings ratio of 489.12, a price-to-earnings-growth ratio of 1.04 and a beta of 1.73. The company’s 50 day simple moving average is $91.54 and its two-hundred day simple moving average is $77.70. Microchip Technology Incorporated has a 1-year low of $48.52 and a 1-year high of $105.91. 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 (NASDAQ:MCHP) last posted its quarterly earnings results on Thursday, May 7th. The semiconductor company reported $0.57 earnings per share (EPS) for the quarter, beating 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 period in the prior year, the business earned $0.11 earnings per share. The business’s 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. Analysts expect that Microchip Technology Incorporated will post 2.59 EPS for the current fiscal year.

Microchip Technology Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, June 5th. Stockholders of record on Friday, May 22nd were issued a dividend of $0.455 per share. This represents a $1.82 annualized dividend and a dividend yield of 1.8%. The ex-dividend date was Friday, May 22nd. Microchip Technology’s payout ratio is currently 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.