Madison Asset Management LLC Sells 15,522 Shares of Microchip Technology Incorporated $MCHP

Madison Asset Management LLC reduced its position in shares of Microchip Technology Incorporated (NASDAQ:MCHP) by 9.5% in the first quarter, Holdings Channel reports. The firm owned 147,781 shares of the semiconductor company’s stock after selling 15,522 shares during the period. Madison Asset Management LLC’s holdings in Microchip Technology were worth $9,548,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently modified their holdings of MCHP. AQR Capital Management LLC grew its position in Microchip Technology by 51.3% in the first quarter. AQR Capital Management LLC now owns 17,201 shares of the semiconductor company’s stock worth $827,000 after acquiring an additional 5,835 shares in the last quarter. Geneos Wealth Management Inc. boosted its holdings in Microchip Technology by 101.8% during the 1st quarter. Geneos Wealth Management Inc. now owns 1,221 shares of the semiconductor company’s stock valued at $59,000 after acquiring an additional 616 shares during the period. Cresset Asset Management LLC grew its position in Microchip Technology by 5.4% during the 2nd quarter. Cresset Asset Management LLC now owns 11,433 shares of the semiconductor company’s stock worth $805,000 after acquiring an additional 589 shares during the last quarter. AXA S.A. grew its position in Microchip Technology by 21.3% during the 2nd quarter. AXA S.A. now owns 51,552 shares of the semiconductor company’s stock worth $3,628,000 after acquiring an additional 9,043 shares during the last quarter. Finally, Treasurer of the State of North Carolina increased its stake in Microchip Technology by 1.6% in the 2nd quarter. Treasurer of the State of North Carolina now owns 246,530 shares of the semiconductor company’s stock worth $17,348,000 after purchasing an additional 3,851 shares during the period. Hedge funds and other institutional investors own 91.51% of the company’s stock.

Wall Street Analysts Forecast Growth

MCHP has been the subject of a number of recent analyst reports. Cantor Fitzgerald reiterated an “overweight” rating and set a $125.00 price target on shares of Microchip Technology in a report on Wednesday, May 13th. Susquehanna boosted their price objective on shares of Microchip Technology from $95.00 to $120.00 and gave the company a “positive” rating in a research report on Friday, May 8th. JPMorgan Chase & Co. upped their price objective on shares of Microchip Technology from $95.00 to $120.00 and gave the company an “overweight” rating in a research note on Friday, May 8th. TD Cowen dropped their target price on shares of Microchip Technology from $105.00 to $90.00 and set a “hold” rating for the company in a report on Monday, July 13th. Finally, Rosenblatt Securities raised their target price on Microchip Technology from $115.00 to $120.00 and gave the stock a “buy” rating in a research note on Friday, May 8th. Four research analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and seven have issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $99.76.

Microchip Technology Stock Performance

Shares of MCHP stock opened at $83.38 on Wednesday. The company’s fifty day moving average price is $91.49 and its 200-day moving average price is $80.84. The stock has a market cap of $45.28 billion, a PE ratio of 397.07, a price-to-earnings-growth ratio of 0.81 and a beta of 1.74. 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.

Microchip Technology (NASDAQ:MCHP) last announced its quarterly earnings data on Thursday, May 7th. The semiconductor company reported $0.57 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.50 by $0.07. The business had revenue of $1.31 billion during the quarter, compared to analysts’ expectations of $1.26 billion. Microchip Technology had a return on equity of 10.87% and a net margin of 4.88%.The firm’s quarterly revenue was up 35.1% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.11 earnings per share. Microchip Technology has set its Q1 2027 guidance at 0.670-0.710 EPS. On average, equities analysts expect that Microchip Technology Incorporated will post 2.69 EPS for the current fiscal year.

Microchip Technology Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 5th. Investors of record on Friday, May 22nd were given a dividend of $0.455 per share. The ex-dividend date of this dividend was Friday, May 22nd. This represents a $1.82 annualized dividend and a dividend yield of 2.2%. Microchip Technology’s dividend payout ratio (DPR) is 866.67%.

Insiders Place Their Bets

In other Microchip Technology news, COO Richard J. Simoncic sold 5,000 shares of the business’s stock in a transaction dated 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 transaction, the chief operating officer owned 130,508 shares of the company’s stock, valued at approximately $12,727,140.16. The trade was a 3.69% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO James Eric Bjornholt sold 3,667 shares of the stock in a transaction that occurred on Friday, May 22nd. The shares were sold at an average price of $90.87, for a total transaction of $333,220.29. Following the transaction, the chief financial officer owned 28,573 shares in the company, valued at approximately $2,596,428.51. This trade represents a 11.37% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 553,302 shares of company stock valued at $49,673,635 over the last quarter. Corporate insiders own 1.79% of the company’s stock.

About Microchip Technology

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.