Harber Asset Management LLC Has $6.38 Million Holdings in Microchip Technology Incorporated $MCHP

Harber Asset Management LLC grew its stake in Microchip Technology Incorporated (NASDAQ:MCHP) by 9.9% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 100,082 shares of the semiconductor company’s stock after buying an additional 8,992 shares during the period. Microchip Technology makes up approximately 2.7% of Harber Asset Management LLC’s holdings, making the stock its 23rd biggest position. Harber Asset Management LLC’s holdings in Microchip Technology were worth $6,377,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in MCHP. Norges Bank acquired a new stake in shares of Microchip Technology in the fourth quarter worth about $664,564,000. Barclays PLC lifted its position in shares of Microchip Technology by 66.5% in the fourth quarter. Barclays PLC now owns 13,996,883 shares of the semiconductor company’s stock worth $891,881,000 after buying an additional 5,590,210 shares during the last quarter. Barrow Hanley Mewhinney & Strauss LLC lifted its position in shares of Microchip Technology by 25.7% in the third quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 11,048,057 shares of the semiconductor company’s stock worth $709,506,000 after buying an additional 2,257,932 shares during the last quarter. Holocene Advisors LP lifted its position in shares of Microchip Technology by 77.0% in the third quarter. Holocene Advisors LP now owns 4,709,538 shares of the semiconductor company’s stock worth $302,447,000 after buying an additional 2,049,249 shares during the last quarter. Finally, Rafferty Asset Management LLC lifted its position in shares of Microchip Technology by 41.0% in the second quarter. Rafferty Asset Management LLC now owns 6,203,762 shares of the semiconductor company’s stock worth $436,559,000 after buying an additional 1,803,945 shares during the last quarter. Institutional investors and hedge funds own 91.51% of the company’s stock.

Insiders Place Their Bets

In related 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 transaction of $487,600.00. Following the transaction, the chief operating officer directly owned 130,508 shares in the company, valued at $12,727,140.16. The trade was a 3.69% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Matthew W. Chapman sold 10,000 shares of the business’s stock in a transaction dated Friday, May 15th. The shares were sold at an average price of $95.48, for a total value of $954,800.00. Following the transaction, the director owned 20,665 shares in the company, valued at $1,973,094.20. This represents a 32.61% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders have sold 553,302 shares of company stock valued at $49,673,635. Company insiders own 1.94% of the company’s stock.

Microchip Technology Trading Up 2.5%

Microchip Technology stock opened at $95.24 on Friday. The company has a debt-to-equity ratio of 0.85, a quick ratio of 1.18 and a current ratio of 2.09. The business’s 50-day simple moving average is $87.85 and its 200-day simple moving average is $75.61. The firm has a market capitalization of $51.63 billion, a PE ratio of 453.55, a PEG ratio of 1.00 and a beta of 1.73. Microchip Technology Incorporated has a 52 week low of $48.52 and a 52 week high of $105.91.

Microchip Technology (NASDAQ:MCHP) last posted its quarterly earnings data on Thursday, May 7th. The semiconductor company reported $0.57 EPS for the quarter, topping analysts’ consensus estimates of $0.50 by $0.07. The business had revenue of $1.31 billion for the quarter, compared to analyst estimates of $1.26 billion. Microchip Technology had a return on equity of 10.87% and a net margin of 4.88%.The firm’s revenue for the quarter was up 35.1% on a year-over-year basis. During the same period in the previous year, the company posted $0.11 earnings per share. Microchip Technology has set its Q1 2027 guidance at 0.670-0.710 EPS. Equities research analysts forecast that Microchip Technology Incorporated will post 2.58 earnings per share for the current year.

Microchip Technology Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 5th. Stockholders of record on Friday, May 22nd were paid a $0.455 dividend. The ex-dividend date was Friday, May 22nd. This represents a $1.82 dividend on an annualized basis and a dividend yield of 1.9%. Microchip Technology’s payout ratio is presently 866.67%.

Wall Street Analyst Weigh In

A number of analysts have weighed in on MCHP shares. Zacks Research raised Microchip Technology from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, May 12th. Susquehanna boosted their price target on Microchip Technology from $95.00 to $120.00 and gave the stock a “positive” rating in a research report on Friday, May 8th. Wells Fargo & Company boosted their price target on Microchip Technology from $75.00 to $95.00 and gave the stock an “equal weight” rating in a research report on Friday, May 8th. Barclays boosted their price target on Microchip Technology from $80.00 to $105.00 and gave the stock an “equal weight” rating in a research report on Monday, May 11th. Finally, Citigroup boosted their price target on Microchip Technology from $91.00 to $113.00 and gave the stock a “buy” rating in a research report on Friday, May 8th. Four equities research analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and seven have given a Hold rating to the company. According to MarketBeat.com, Microchip Technology presently has a consensus rating of “Moderate Buy” and a consensus 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.