Holocene Advisors LP Purchases 2,049,249 Shares of Microchip Technology Incorporated $MCHP

Holocene Advisors LP lifted its position in shares of Microchip Technology Incorporated (NASDAQ:MCHP) by 77.0% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 4,709,538 shares of the semiconductor company’s stock after purchasing an additional 2,049,249 shares during the quarter. Holocene Advisors LP owned approximately 0.87% of Microchip Technology worth $302,447,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also modified their holdings of MCHP. Vanguard Group Inc. lifted its position in Microchip Technology by 2.1% in the third quarter. Vanguard Group Inc. now owns 72,075,558 shares of the semiconductor company’s stock worth $4,628,692,000 after purchasing an additional 1,507,554 shares during the period. State Street Corp increased its holdings in Microchip Technology by 8.5% in the 2nd quarter. State Street Corp now owns 31,888,814 shares of the semiconductor company’s stock valued at $2,244,016,000 after buying an additional 2,489,258 shares during the period. Invesco Ltd. raised its stake in shares of Microchip Technology by 10.4% in the 2nd quarter. Invesco Ltd. now owns 18,452,546 shares of the semiconductor company’s stock valued at $1,298,506,000 after buying an additional 1,745,515 shares in the last quarter. Boston Partners lifted its holdings in shares of Microchip Technology by 9.5% during the 3rd quarter. Boston Partners now owns 16,234,332 shares of the semiconductor company’s stock worth $1,044,024,000 after acquiring an additional 1,406,885 shares during the period. Finally, Victory Capital Management Inc. lifted its holdings in shares of Microchip Technology by 11.3% during the 3rd quarter. Victory Capital Management Inc. now owns 12,006,088 shares of the semiconductor company’s stock worth $806,821,000 after acquiring an additional 1,215,939 shares during the period. 91.51% of the stock is currently owned by institutional investors.

Microchip Technology Trading Down 1.3%

Shares of Microchip Technology stock opened at $61.94 on Monday. Microchip Technology Incorporated has a 12-month low of $34.13 and a 12-month high of $83.35. The stock has a market capitalization of $33.52 billion, a P/E ratio of -213.59, a price-to-earnings-growth ratio of 1.56 and a beta of 1.45. The company has a 50-day simple moving average of $74.21 and a 200 day simple moving average of $66.61. The company has a quick ratio of 1.16, a current ratio of 2.16 and a debt-to-equity ratio of 0.82.

Microchip Technology (NASDAQ:MCHP) last released its quarterly earnings results on Thursday, February 5th. The semiconductor company reported $0.44 EPS for the quarter, beating 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 negative net margin of 1.57% and a positive return on equity of 7.16%. The company’s revenue for the quarter was up 15.6% compared to the same quarter last year. During the same period in the previous year, the business earned $0.20 earnings per share. Microchip Technology has set its Q4 2026 guidance at 0.480-0.520 EPS. Research analysts expect that Microchip Technology Incorporated will post 1.03 earnings per share for the current fiscal year.

Microchip Technology Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, March 10th. Stockholders of record on Monday, February 23rd were issued a $0.455 dividend. This represents a $1.82 annualized dividend and a dividend yield of 2.9%. The ex-dividend date of this dividend was Monday, February 23rd. Microchip Technology’s payout ratio is presently -627.59%.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on MCHP shares. Zacks Research cut shares of Microchip Technology from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, February 24th. Wolfe Research set a $85.00 price target on shares of Microchip Technology in a research note on Tuesday, January 6th. Needham & Company LLC lifted their price objective on Microchip Technology from $77.00 to $84.00 and gave the company a “buy” rating in a report on Friday, February 6th. Wall Street Zen upgraded Microchip Technology from a “hold” rating to a “buy” rating in a research note on Sunday. Finally, Citigroup dropped their target price on Microchip Technology from $92.00 to $91.00 and set a “buy” rating for the company in a report on Friday, February 6th. Three research analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating and eight have issued a Hold rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $86.00.

Insider Buying and Selling

In related news, CEO Steve Sanghi sold 98,814 shares of the firm’s stock in a transaction 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 $799,242,795.45. This trade represents a 0.99% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 1.94% of the stock is currently owned by company insiders.

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.