Korea Investment CORP Raises Stock Holdings in Microchip Technology Incorporated $MCHP

Korea Investment CORP raised its holdings in shares of Microchip Technology Incorporated (NASDAQ:MCHP) by 14.0% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 270,872 shares of the semiconductor company’s stock after purchasing an additional 33,234 shares during the quarter. Korea Investment CORP’s holdings in Microchip Technology were worth $17,395,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of MCHP. Winnow Wealth LLC acquired a new stake in shares of Microchip Technology during the third quarter worth approximately $25,000. Root Financial Partners LLC bought a new stake in shares of Microchip Technology in the third quarter worth $28,000. Salomon & Ludwin LLC raised its holdings in Microchip Technology by 219.3% in the third quarter. Salomon & Ludwin LLC now owns 479 shares of the semiconductor company’s stock valued at $32,000 after acquiring an additional 329 shares in the last quarter. Quent Capital LLC bought a new position in Microchip Technology during the 3rd quarter valued at $32,000. Finally, E Fund Management Hong Kong Co. Ltd. boosted its stake in Microchip Technology by 106.8% during the 3rd quarter. E Fund Management Hong Kong Co. Ltd. now owns 517 shares of the semiconductor company’s stock valued at $33,000 after acquiring an additional 267 shares during the last quarter. 91.51% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Microchip Technology

In other news, CEO Steve Sanghi sold 98,814 shares of the company’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 transaction, the chief executive officer directly owned 9,922,319 shares of the company’s stock, valued at approximately $799,242,795.45. This represents a 0.99% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 1.94% of the company’s stock.

Analyst Upgrades and Downgrades

MCHP has been the subject of several research analyst reports. Piper Sandler boosted their target price on shares of Microchip Technology from $80.00 to $85.00 and gave the stock an “overweight” rating in a research report on Thursday, January 15th. Jefferies Financial Group reaffirmed a “hold” rating on shares of Microchip Technology in a research report on Wednesday, February 4th. BNP Paribas Exane upgraded Microchip Technology from a “neutral” rating to an “outperform” rating and set a $90.00 price target for the company in a research note on Thursday, January 22nd. Wolfe Research set a $85.00 price objective on Microchip Technology in a report on Tuesday, January 6th. Finally, Bank of America upgraded Microchip Technology from a “neutral” rating to a “buy” rating and set a $95.00 price objective on the stock in a research note on Wednesday, January 28th. Three research analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and eight have issued a Hold rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $86.00.

Microchip Technology Stock Up 0.5%

Shares of NASDAQ:MCHP opened at $65.33 on Wednesday. The company’s fifty day moving average is $74.25 and its two-hundred day moving average is $66.70. The company has a debt-to-equity ratio of 0.82, a quick ratio of 1.16 and a current ratio of 2.16. Microchip Technology Incorporated has a 1-year low of $34.13 and a 1-year high of $83.35. The stock has a market capitalization of $35.35 billion, a price-to-earnings ratio of -225.28, a price-to-earnings-growth ratio of 1.64 and a beta of 1.45.

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

Microchip Technology Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, March 10th. Shareholders of record on Monday, February 23rd were paid a $0.455 dividend. This represents a $1.82 dividend on an annualized basis and a yield of 2.8%. The ex-dividend date was Monday, February 23rd. Microchip Technology’s payout ratio is presently -627.59%.

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.