Leeward Investments LLC MA Cuts Stock Position in Microchip Technology Incorporated $MCHP

Leeward Investments LLC MA trimmed its holdings in Microchip Technology Incorporated (NASDAQ:MCHP) by 3.3% during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 224,409 shares of the semiconductor company’s stock after selling 7,751 shares during the period. Leeward Investments LLC MA’s holdings in Microchip Technology were worth $14,499,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also recently made changes to their positions in the company. Vanguard Group Inc. lifted its holdings in Microchip Technology by 2.0% in the 4th quarter. Vanguard Group Inc. now owns 73,506,339 shares of the semiconductor company’s stock worth $4,683,824,000 after purchasing an additional 1,430,781 shares in the last quarter. State Street Corp grew its holdings in Microchip Technology by 2.8% during the 4th quarter. State Street Corp now owns 28,863,048 shares of the semiconductor company’s stock valued at $1,839,153,000 after buying an additional 783,157 shares in the last quarter. Boston Partners raised its position in shares of Microchip Technology by 9.5% during the third 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 during the last quarter. Geode Capital Management LLC lifted its holdings in shares of Microchip Technology by 1.4% in the fourth quarter. Geode Capital Management LLC now owns 15,394,985 shares of the semiconductor company’s stock worth $977,638,000 after buying an additional 213,188 shares in the last quarter. Finally, Invesco Ltd. lifted its holdings in shares of 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 buying an additional 684,561 shares in the last quarter. Hedge funds and other institutional investors own 91.51% of the company’s stock.

Insider Buying and Selling at Microchip Technology

In other Microchip Technology news, CEO Steve Sanghi sold 416,581 shares of the business’s stock in a transaction that occurred on Thursday, April 23rd. The stock was sold at an average price of $88.53, for a total transaction of $36,879,915.93. Following the sale, the chief executive officer directly owned 9,495,805 shares of the company’s stock, valued at $840,663,616.65. The trade was a 4.20% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available 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 firm’s stock in a transaction that occurred on Friday, May 15th. The shares were sold at an average price of $95.48, for a total value of $954,800.00. Following the completion of the sale, the director directly owned 20,665 shares of the company’s stock, valued at $1,973,094.20. The trade was a 32.61% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 553,302 shares of company stock worth $49,673,635 in the last 90 days. 1.94% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of equities analysts recently weighed in on the stock. JPMorgan Chase & Co. upped their target price on shares of Microchip Technology from $95.00 to $120.00 and gave the stock an “overweight” rating in a research report on Friday, May 8th. Zacks Research upgraded shares of Microchip Technology from a “hold” rating to a “strong-buy” rating in a report on Tuesday, May 12th. Weiss Ratings raised shares of Microchip Technology from a “hold (c-)” rating to a “hold (c)” rating in a report on Thursday, June 4th. Rosenblatt Securities raised their price objective on Microchip Technology from $115.00 to $120.00 and gave the company a “buy” rating in a research report on Friday, May 8th. Finally, Wells Fargo & Company lifted their target price on Microchip Technology from $75.00 to $95.00 and gave the stock an “equal weight” rating in a 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 issued a Hold rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $98.18.

Microchip Technology Trading Down 9.2%

MCHP stock opened at $93.26 on Wednesday. The firm has a fifty day moving average price of $91.98 and a 200 day moving average price of $77.91. Microchip Technology Incorporated has a fifty-two week low of $48.52 and a fifty-two week high of $105.91. The firm has a market cap of $50.55 billion, a PE ratio of 444.12, a price-to-earnings-growth ratio of 1.08 and a beta of 1.73. The company has a debt-to-equity ratio of 0.85, a quick ratio of 1.18 and a current ratio of 2.09.

Microchip Technology (NASDAQ:MCHP) last released its quarterly earnings results 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. Microchip Technology had a net margin of 4.88% and a return on equity of 10.87%. The company had revenue of $1.31 billion for the quarter, compared to the consensus estimate of $1.26 billion. During the same quarter in the prior year, the firm earned $0.11 earnings per share. Microchip Technology’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. Sell-side analysts anticipate that Microchip Technology Incorporated will post 2.59 earnings per share for the current fiscal year.

Microchip Technology Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, June 5th. Stockholders of record on Friday, May 22nd were given a dividend of $0.455 per share. This represents a $1.82 annualized dividend and a dividend yield of 2.0%. The ex-dividend date was Friday, May 22nd. Microchip Technology’s dividend payout ratio is currently 866.67%.

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.