Sei Investments Co. Trims Stake in Microchip Technology Incorporated $MCHP

Sei Investments Co. lowered its position in shares of Microchip Technology Incorporated (NASDAQ:MCHP) by 1.0% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 901,680 shares of the semiconductor company’s stock after selling 8,860 shares during the quarter. Sei Investments Co. owned about 0.17% of Microchip Technology worth $58,258,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of MCHP. Wolverine Asset Management LLC increased its position in Microchip Technology by 3,833.7% during the fourth quarter. Wolverine Asset Management LLC now owns 37,921 shares of the semiconductor company’s stock valued at $2,416,000 after acquiring an additional 36,957 shares during the last quarter. Vienna Powszechne Towarzystwo Emerytalne S.A. Vienna Insurance Group purchased a new position in Microchip Technology in the fourth quarter worth about $6,691,000. Peregrine Investment Management Inc. purchased a new position in Microchip Technology in the first quarter worth about $5,492,000. Epoch Investment Partners Inc. grew its stake in shares of Microchip Technology by 16.5% during the 4th quarter. Epoch Investment Partners Inc. now owns 1,349,136 shares of the semiconductor company’s stock valued at $85,967,000 after purchasing an additional 191,339 shares during the period. Finally, Norges Bank bought a new stake in shares of Microchip Technology during the 4th quarter valued at about $664,564,000. Institutional investors own 91.51% of the company’s stock.

Analyst Upgrades and Downgrades

MCHP has been the subject of a number of research reports. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $125.00 target price on shares of Microchip Technology in a report on Wednesday, May 13th. Zacks Research upgraded Microchip Technology from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, May 12th. Citigroup raised their target price on Microchip Technology from $91.00 to $113.00 and gave the stock a “buy” rating in a report on Friday, May 8th. TD Cowen lowered their target price on Microchip Technology from $105.00 to $90.00 and set a “hold” rating on the stock in a research report on Monday, July 13th. Finally, Rosenblatt Securities boosted their price target on Microchip Technology from $115.00 to $120.00 and gave the company a “buy” rating in a report on Friday, May 8th. Four investment analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and seven have assigned a Hold rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $99.76.

Microchip Technology Trading Down 3.1%

Shares of MCHP opened at $78.86 on Friday. The company has a debt-to-equity ratio of 0.85, a current ratio of 2.09 and a quick ratio of 1.18. Microchip Technology Incorporated has a 1 year low of $48.52 and a 1 year high of $105.91. The company has a 50 day simple moving average of $90.64 and a two-hundred day simple moving average of $81.09. The firm has a market cap of $42.82 billion, a P/E ratio of 375.54, a price-to-earnings-growth ratio of 0.79 and a beta of 1.74.

Microchip Technology (NASDAQ:MCHP) last posted its earnings results on Thursday, May 7th. The semiconductor company reported $0.57 earnings per share for the quarter, beating the consensus estimate 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 during the quarter, compared to analysts’ expectations of $1.26 billion. During the same period last year, the company posted $0.11 earnings per share. Microchip Technology’s quarterly 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. On average, equities analysts expect that Microchip Technology Incorporated will post 2.7 earnings per share for the current fiscal year.

Microchip Technology Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, June 5th. Stockholders of record on Friday, May 22nd were issued a $0.455 dividend. This represents a $1.82 annualized dividend and a dividend yield of 2.3%. The ex-dividend date of this dividend was Friday, May 22nd. Microchip Technology’s payout ratio is 866.67%.

Insider Transactions at Microchip Technology

In other Microchip Technology news, CEO Steve Sanghi sold 76,469 shares of Microchip Technology stock in a transaction that occurred on Friday, May 1st. The stock was sold at an average price of $93.58, for a total value of $7,155,969.02. Following the sale, the chief executive officer owned 9,385,834 shares of the company’s stock, valued at $878,326,345.72. The trade was a 0.81% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Matthew W. Chapman sold 3,000 shares of the company’s stock in a transaction that occurred on Thursday, May 28th. The stock was sold at an average price of $97.52, for a total value of $292,560.00. Following the sale, the director directly owned 17,665 shares in the company, valued at $1,722,690.80. This trade represents a 14.52% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 136,721 shares of company stock valued at $12,793,719 over the last three months. Corporate insiders own 1.79% 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.