Villere ST Denis J & Co. LLC Lowers Position in Microchip Technology Incorporated $MCHP

Villere ST Denis J & Co. LLC cut its position in shares of Microchip Technology Incorporated (NASDAQ:MCHP) by 4.4% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 339,517 shares of the semiconductor company’s stock after selling 15,500 shares during the quarter. Microchip Technology comprises 2.4% of Villere ST Denis J & Co. LLC’s investment portfolio, making the stock its 21st biggest holding. Villere ST Denis J & Co. LLC’s holdings in Microchip Technology were worth $21,936,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. Vanguard Group Inc. boosted its stake in Microchip Technology by 2.0% during the fourth quarter. Vanguard Group Inc. now owns 73,506,339 shares of the semiconductor company’s stock worth $4,683,824,000 after acquiring an additional 1,430,781 shares in the last quarter. State Street Corp lifted its holdings in shares of Microchip Technology by 2.8% during the fourth quarter. State Street Corp now owns 28,863,048 shares of the semiconductor company’s stock valued at $1,839,153,000 after purchasing an additional 783,157 shares during the last quarter. Boston Partners increased its position in Microchip Technology by 9.5% during the 3rd quarter. Boston Partners now owns 16,234,332 shares of the semiconductor company’s stock valued at $1,044,024,000 after buying an additional 1,406,885 shares in the last quarter. Geode Capital Management LLC raised its stake in Microchip Technology by 1.4% during the fourth quarter. Geode Capital Management LLC now owns 15,394,985 shares of the semiconductor company’s stock valued at $977,638,000 after buying an additional 213,188 shares during the last quarter. Finally, Invesco Ltd. boosted its holdings in Microchip Technology by 4.8% in the fourth quarter. Invesco Ltd. now owns 14,992,128 shares of the semiconductor company’s stock worth $955,298,000 after acquiring an additional 684,561 shares in the last quarter. Institutional investors own 91.51% of the company’s stock.

Microchip Technology Stock Performance

NASDAQ:MCHP traded up $0.33 on Friday, hitting $88.59. The stock had a trading volume of 6,677,420 shares, compared to its average volume of 11,773,885. The business’s 50-day simple moving average is $93.64 and its two-hundred day simple moving average is $79.82. The stock has a market cap of $48.11 billion, a price-to-earnings ratio of 421.88, a price-to-earnings-growth ratio of 0.90 and a beta of 1.74. Microchip Technology Incorporated has a 52-week low of $48.52 and a 52-week high of $105.91. The company has a quick ratio of 1.18, a current ratio of 2.09 and a debt-to-equity ratio of 0.85.

Microchip Technology (NASDAQ:MCHP) last issued its quarterly earnings data on Thursday, May 7th. The semiconductor company reported $0.57 earnings per share for the quarter, topping the consensus estimate of $0.50 by $0.07. The firm had revenue of $1.31 billion for the quarter, compared to analysts’ expectations of $1.26 billion. Microchip Technology had a net margin of 4.88% and a return on equity of 10.87%. The business’s quarterly revenue was up 35.1% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.11 EPS. Microchip Technology has set its Q1 2027 guidance at 0.670-0.710 EPS. As a group, research analysts predict that Microchip Technology Incorporated will post 2.66 earnings per share for the current year.

Microchip Technology Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, June 5th. Stockholders of record on Friday, May 22nd were paid a dividend of $0.455 per share. This represents a $1.82 annualized dividend and a dividend yield of 2.1%. The ex-dividend date was Friday, May 22nd. Microchip Technology’s dividend payout ratio (DPR) is currently 866.67%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on the company. Wall Street Zen raised Microchip Technology from a “hold” rating to a “buy” rating in a research note on Saturday, May 9th. Susquehanna upped their price target on shares of Microchip Technology from $95.00 to $120.00 and gave the stock a “positive” rating in a research note on Friday, May 8th. UBS Group restated a “buy” rating on shares of Microchip Technology in a research note on Tuesday, June 2nd. Barclays upped their target price on shares of Microchip Technology from $80.00 to $105.00 and gave the stock an “equal weight” rating in a research note on Monday, May 11th. Finally, Cantor Fitzgerald reissued an “overweight” rating and issued a $125.00 target price on shares of Microchip Technology in a research report on Wednesday, May 13th. Four investment analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and seven have given a Hold rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $98.67.

Insider Buying and Selling at Microchip Technology

In other news, COO Richard J. Simoncic sold 5,000 shares of the company’s stock in a transaction on Thursday, June 4th. The stock was sold at an average price of $97.52, for a total value of $487,600.00. Following the completion of the sale, the chief operating officer directly owned 130,508 shares in the company, valued at $12,727,140.16. This represents a 3.69% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CFO James Eric Bjornholt sold 3,667 shares of the firm’s stock in a transaction on Friday, May 22nd. The stock was sold at an average price of $90.87, for a total value of $333,220.29. Following the completion of the transaction, the chief financial officer directly owned 28,573 shares in the company, valued at approximately $2,596,428.51. This represents a 11.37% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders sold 553,302 shares of company stock worth $49,673,635. 1.94% of the stock is currently owned by insiders.

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.