Zweig DiMenna Associates LLC Grows Stock Position in Microchip Technology Incorporated $MCHP

Zweig DiMenna Associates LLC lifted its holdings in shares of Microchip Technology Incorporated (NASDAQ:MCHP) by 21.0% during the first quarter, according to its most recent disclosure with the SEC. The fund owned 147,000 shares of the semiconductor company’s stock after acquiring an additional 25,500 shares during the period. Microchip Technology makes up approximately 1.3% of Zweig DiMenna Associates LLC’s investment portfolio, making the stock its 28th largest holding. Zweig DiMenna Associates LLC’s holdings in Microchip Technology were worth $9,498,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. Resonant Capital Advisors LLC boosted its stake in Microchip Technology by 0.9% in the 1st quarter. Resonant Capital Advisors LLC now owns 12,542 shares of the semiconductor company’s stock worth $810,000 after purchasing an additional 118 shares in the last quarter. MCF Advisors LLC increased its stake in Microchip Technology by 25.8% during the 4th quarter. MCF Advisors LLC now owns 659 shares of the semiconductor company’s stock valued at $42,000 after purchasing an additional 135 shares in the last quarter. Gagnon Securities LLC raised its holdings in shares of Microchip Technology by 0.5% in the fourth quarter. Gagnon Securities LLC now owns 27,162 shares of the semiconductor company’s stock worth $1,731,000 after buying an additional 137 shares during the last quarter. Evelyn Partners Investment Management LLP raised its holdings in shares of Microchip Technology by 1.5% in the fourth quarter. Evelyn Partners Investment Management LLP now owns 9,300 shares of the semiconductor company’s stock worth $593,000 after buying an additional 140 shares during the last quarter. Finally, Millstone Evans Group LLC lifted its stake in shares of Microchip Technology by 23.7% during the fourth quarter. Millstone Evans Group LLC now owns 742 shares of the semiconductor company’s stock worth $47,000 after buying an additional 142 shares during the period. Institutional investors and hedge funds own 91.51% of the company’s stock.

Microchip Technology Trading Up 3.4%

Shares of NASDAQ:MCHP opened at $87.11 on Wednesday. The company has a current ratio of 2.09, a quick ratio of 1.18 and a debt-to-equity ratio of 0.85. Microchip Technology Incorporated has a 12-month low of $48.52 and a 12-month high of $105.91. The business has a 50 day moving average of $93.24 and a two-hundred day moving average of $80.21. The company has a market capitalization of $47.30 billion, a PE ratio of 414.83, a PEG ratio of 0.86 and a beta of 1.74.

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

Microchip Technology Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, June 5th. Shareholders of record on Friday, May 22nd were issued a $0.455 dividend. The ex-dividend date of this dividend was Friday, May 22nd. This represents a $1.82 dividend on an annualized basis and a yield of 2.1%. Microchip Technology’s payout ratio is presently 866.67%.

Insider Activity

In other Microchip Technology news, CEO Steve Sanghi sold 416,581 shares of the company’s stock in a transaction dated Thursday, April 23rd. The shares were sold at an average price of $88.53, for a total value of $36,879,915.93. Following the completion of the transaction, the chief executive officer owned 9,495,805 shares in the company, valued at approximately $840,663,616.65. This represents a 4.20% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Matthew W. Chapman sold 10,000 shares of the stock in a transaction dated Friday, May 15th. The stock was sold at an average price of $95.48, for a total transaction of $954,800.00. Following the sale, the director directly owned 20,665 shares in the company, valued at approximately $1,973,094.20. The trade was a 32.61% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 553,302 shares of company stock worth $49,673,635 over the last three months. Corporate insiders own 1.79% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on MCHP shares. Zacks Research raised Microchip Technology from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, May 12th. TD Cowen lowered their price target on Microchip Technology from $105.00 to $90.00 and set a “hold” rating for the company in a research report on Monday. Cantor Fitzgerald reiterated an “overweight” rating and set a $125.00 price target on shares of Microchip Technology in a research note on Wednesday, May 13th. Wall Street Zen raised Microchip Technology from a “hold” rating to a “buy” rating in a report on Saturday, May 9th. Finally, Weiss Ratings upgraded Microchip Technology from a “hold (c-)” rating to a “hold (c)” rating in a research note on Thursday, June 4th. Four equities research analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and seven have issued a Hold rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $100.10.

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.