Pacer Advisors Inc. Has $5.42 Million Stock Position in Microchip Technology Incorporated $MCHP

Pacer Advisors Inc. lowered its stake in Microchip Technology Incorporated (NASDAQ:MCHP) by 17.0% during the fourth quarter, Holdings Channel reports. The firm owned 85,026 shares of the semiconductor company’s stock after selling 17,416 shares during the period. Pacer Advisors Inc.’s holdings in Microchip Technology were worth $5,418,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. AQR Capital Management LLC grew its stake in Microchip Technology by 51.3% during the first quarter. AQR Capital Management LLC now owns 17,201 shares of the semiconductor company’s stock worth $827,000 after buying an additional 5,835 shares in the last quarter. Geneos Wealth Management Inc. raised its position in shares of Microchip Technology by 101.8% in the 1st quarter. Geneos Wealth Management Inc. now owns 1,221 shares of the semiconductor company’s stock valued at $59,000 after buying an additional 616 shares in the last quarter. Cresset Asset Management LLC lifted its holdings in shares of 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 period. AXA S.A. lifted its holdings in shares of 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 period. Finally, Treasurer of the State of North Carolina boosted its position in shares of Microchip Technology by 1.6% during 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 acquiring an additional 3,851 shares in the last quarter. Institutional investors own 91.51% of the company’s stock.

Microchip Technology Price Performance

MCHP stock opened at $102.71 on Tuesday. The stock has a market cap of $55.68 billion, a price-to-earnings ratio of 489.12, a P/E/G ratio of 1.04 and a beta of 1.73. The company has a debt-to-equity ratio of 0.85, a current ratio of 2.09 and a quick ratio of 1.18. The company has a 50 day simple moving average of $91.54 and a 200 day simple moving average of $77.70. Microchip Technology Incorporated has a 1 year low of $48.52 and a 1 year high of $105.91.

Microchip Technology (NASDAQ:MCHP) last issued its earnings results on Thursday, May 7th. The semiconductor company reported $0.57 earnings per share for the quarter, beating analysts’ consensus estimates of $0.50 by $0.07. The firm had revenue of $1.31 billion for the quarter, compared to analyst estimates of $1.26 billion. Microchip Technology had a net margin of 4.88% and a return on equity of 10.87%. The company’s quarterly revenue was up 35.1% on a year-over-year basis. During the same quarter last year, the business posted $0.11 earnings per share. Microchip Technology has set its Q1 2027 guidance at 0.670-0.710 EPS. Research analysts anticipate that Microchip Technology Incorporated will post 2.59 EPS for the current fiscal year.

Microchip Technology Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, June 5th. Investors of record on Friday, May 22nd were issued 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 1.8%. Microchip Technology’s dividend payout ratio (DPR) is 866.67%.

Insider Transactions at Microchip Technology

In other Microchip Technology news, COO Richard J. Simoncic sold 5,000 shares of the 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 directly owned 130,508 shares in the company, valued at approximately $12,727,140.16. This trade represents a 3.69% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Steve Sanghi sold 76,469 shares of Microchip Technology stock in a transaction dated Friday, May 1st. The shares were sold at an average price of $93.58, for a total value of $7,155,969.02. Following the sale, the chief executive officer directly owned 9,385,834 shares in the company, valued at $878,326,345.72. The trade was a 0.81% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders have sold 553,302 shares of company stock worth $49,673,635. 1.94% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

MCHP has been the topic of a number of recent analyst reports. Truist Financial lifted their price objective on shares of Microchip Technology from $69.00 to $105.00 and gave the company a “hold” rating in a research note on Friday, May 8th. Rosenblatt Securities raised their target price on Microchip Technology from $115.00 to $120.00 and gave the company a “buy” rating in a report on Friday, May 8th. Cantor Fitzgerald reiterated an “overweight” rating and issued a $125.00 price target on shares of Microchip Technology in a research note on Wednesday, May 13th. Needham & Company LLC boosted their price target on Microchip Technology from $84.00 to $120.00 and gave the stock a “buy” rating in a report on Friday, May 8th. Finally, Susquehanna upped their price objective on Microchip Technology from $95.00 to $120.00 and gave the stock a “positive” rating in a research report on Friday, May 8th. Four investment analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating and seven have given a Hold rating to the company’s stock. According to MarketBeat.com, Microchip Technology presently has a consensus rating of “Moderate Buy” and an average price target of $98.18.

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.