Microchip Technology Incorporated (NASDAQ:MCHP) Short Interest Update

Microchip Technology Incorporated (NASDAQ:MCHP) was the recipient of a significant drop in short interest during the month of February. As of February 27th, there was short interest totaling 21,786,033 shares, a drop of 16.6% from the February 12th total of 26,111,901 shares. Currently, 4.1% of the shares of the company are short sold. Based on an average trading volume of 6,796,487 shares, the short-interest ratio is presently 3.2 days. Based on an average trading volume of 6,796,487 shares, the short-interest ratio is presently 3.2 days. Currently, 4.1% of the shares of the company are short sold.

Analyst Ratings Changes

Several equities research analysts recently commented on MCHP shares. Mizuho lifted their target price on shares of Microchip Technology from $83.00 to $90.00 and gave the stock an “outperform” rating in a research report on Friday, February 6th. B. Riley Financial raised their target price on Microchip Technology from $85.00 to $95.00 and gave the stock a “buy” rating in a research report on Monday, January 12th. Truist Financial upped their price target on Microchip Technology from $60.00 to $68.00 and gave the company a “hold” rating in a research report on Friday, February 6th. Stifel Nicolaus set a $90.00 price objective on Microchip Technology in a research report on Friday, February 6th. Finally, Morgan Stanley increased their target price on shares of Microchip Technology from $68.00 to $69.00 and gave the company an “equal weight” rating in a research report on Tuesday, January 6th. Three 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 stock. According to data from MarketBeat.com, Microchip Technology presently has an average rating of “Moderate Buy” and an average price target of $86.00.

Microchip Technology Trading Up 1.4%

Microchip Technology stock traded up $0.92 during mid-day trading on Wednesday, hitting $65.51. The company’s stock had a trading volume of 2,430,436 shares, compared to its average volume of 9,265,838. The business has a 50 day moving average price of $73.94 and a 200-day moving average price of $66.60. The company has a debt-to-equity ratio of 0.82, a current ratio of 2.16 and a quick ratio of 1.16. Microchip Technology has a 12 month low of $34.13 and a 12 month high of $83.35. The stock has a market cap of $35.45 billion, a price-to-earnings ratio of -226.42, a price-to-earnings-growth ratio of 1.61 and a beta of 1.45.

Microchip Technology (NASDAQ:MCHP) last released its quarterly earnings data on Thursday, February 5th. The semiconductor company reported $0.44 EPS for the quarter, topping the consensus estimate of $0.43 by $0.01. Microchip Technology had a positive return on equity of 7.16% and a negative net margin of 1.57%.The firm had revenue of $1.19 billion for the quarter, compared to the consensus estimate of $1.19 billion. During the same quarter in the previous year, the business earned $0.20 earnings per share. The company’s quarterly revenue was up 15.6% on a year-over-year basis. Microchip Technology has set its Q4 2026 guidance at 0.480-0.520 EPS. As a group, analysts forecast that Microchip Technology will post 1.03 EPS for the current year.

Microchip Technology Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, March 10th. Investors of record on Monday, February 23rd were issued a $0.455 dividend. This represents a $1.82 annualized dividend and a yield of 2.8%. The ex-dividend date of this dividend was Monday, February 23rd. Microchip Technology’s dividend payout ratio is currently -627.59%.

Insider Activity at Microchip Technology

In other news, CEO Steve Sanghi sold 98,814 shares of the business’s stock in a transaction dated Wednesday, January 28th. The shares were sold at an average price of $80.55, for a total value of $7,959,467.70. Following the completion of the sale, the chief executive officer owned 9,922,319 shares of the company’s stock, valued at approximately $799,242,795.45. The trade was a 0.99% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 1.94% of the company’s stock.

Institutional Investors Weigh In On Microchip Technology

Several institutional investors and hedge funds have recently modified their holdings of MCHP. Rockefeller Capital Management L.P. raised its holdings in shares of Microchip Technology by 20.3% during the 4th quarter. Rockefeller Capital Management L.P. now owns 45,986 shares of the semiconductor company’s stock worth $2,930,000 after acquiring an additional 7,765 shares in the last quarter. Union Savings Bank purchased a new stake in Microchip Technology during the fourth quarter valued at $130,000. Bayban purchased a new stake in Microchip Technology during the fourth quarter valued at $108,000. SHP Wealth Management bought a new position in Microchip Technology during the fourth quarter valued at $63,000. Finally, Caitong International Asset Management Co. Ltd grew its stake in shares of Microchip Technology by 6,863.6% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 766 shares of the semiconductor company’s stock worth $49,000 after buying an additional 755 shares in the last quarter. Institutional investors own 91.51% of the company’s stock.

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.