Microchip Technology Incorporated $MCHP Shares Purchased by Legal & General Group Plc

Legal & General Group Plc raised its stake in Microchip Technology Incorporated (NASDAQ:MCHP) by 1.0% during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 3,350,350 shares of the semiconductor company’s stock after purchasing an additional 33,449 shares during the period. Legal & General Group Plc owned 0.62% of Microchip Technology worth $215,159,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Winnow Wealth LLC acquired a new position in shares of Microchip Technology in the 3rd quarter valued at $25,000. Root Financial Partners LLC purchased a new position in shares of Microchip Technology in the 3rd quarter valued at $28,000. Salomon & Ludwin LLC raised its stake in Microchip Technology by 219.3% during the 3rd quarter. Salomon & Ludwin LLC now owns 479 shares of the semiconductor company’s stock worth $32,000 after acquiring an additional 329 shares in the last quarter. Quent Capital LLC purchased a new stake in Microchip Technology in the third quarter valued at $32,000. Finally, E Fund Management Hong Kong Co. Ltd. lifted its position in Microchip Technology by 106.8% in the third 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. Institutional investors and hedge funds own 91.51% of the company’s stock.

Microchip Technology Price Performance

Shares of NASDAQ:MCHP opened at $62.73 on Friday. Microchip Technology Incorporated has a one year low of $34.13 and a one year high of $83.35. The stock has a market capitalization of $33.95 billion, a price-to-earnings ratio of -216.31, a PEG ratio of 1.66 and a beta of 1.45. The company has a 50-day simple moving average of $74.27 and a 200-day simple moving average of $66.66. 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 (NASDAQ:MCHP) last released its quarterly earnings results on Thursday, February 5th. The semiconductor company reported $0.44 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.43 by $0.01. The firm had revenue of $1.19 billion for the quarter, compared to analyst estimates of $1.19 billion. Microchip Technology had a positive return on equity of 7.16% and a negative net margin of 1.57%.The business’s revenue was up 15.6% on a year-over-year basis. During the same quarter last year, the company posted $0.20 earnings per share. Microchip Technology has set its Q4 2026 guidance at 0.480-0.520 EPS. On average, analysts predict 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 annualized dividend and a dividend yield of 2.9%. The ex-dividend date was Monday, February 23rd. Microchip Technology’s dividend payout ratio (DPR) is -627.59%.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on MCHP. KeyCorp restated an “overweight” rating and issued a $85.00 price objective on shares of Microchip Technology in a research note on Friday, February 6th. Needham & Company LLC boosted their target price on Microchip Technology from $77.00 to $84.00 and gave the company a “buy” rating in a report on Friday, February 6th. Susquehanna upped their target price on Microchip Technology from $75.00 to $90.00 and gave the company a “positive” rating in a research report on Thursday, January 22nd. B. Riley Financial raised their price target on Microchip Technology from $85.00 to $95.00 and gave the stock a “buy” rating in a research note on Monday, January 12th. Finally, JPMorgan Chase & Co. lifted their price target on Microchip Technology from $85.00 to $95.00 and gave the stock an “overweight” rating in a research report on Friday, February 6th. Three investment analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and eight have given a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $86.00.

Insider Activity

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 sale, the chief executive officer owned 9,922,319 shares in the company, valued at $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 is available through this link. Insiders own 1.94% of the company’s stock.

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.