Microchip Technology Incorporated $MCHP Shares Bought by Legal & General Group Plc

Legal & General Group Plc grew its position in Microchip Technology Incorporated (NASDAQ:MCHP) by 1.0% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 3,350,350 shares of the semiconductor company’s stock after acquiring an additional 33,449 shares during the period. Legal & General Group Plc’s holdings in Microchip Technology were worth $215,159,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in the company. AQR Capital Management LLC boosted its holdings in Microchip Technology by 51.3% in the 1st quarter. AQR Capital Management LLC now owns 17,201 shares of the semiconductor company’s stock valued at $827,000 after purchasing an additional 5,835 shares in the last quarter. Geneos Wealth Management Inc. raised its stake in shares of Microchip Technology by 101.8% during the 1st quarter. Geneos Wealth Management Inc. now owns 1,221 shares of the semiconductor company’s stock worth $59,000 after buying an additional 616 shares in the last quarter. AE Wealth Management LLC acquired a new stake in shares of Microchip Technology in the 2nd quarter valued at approximately $662,000. Midwest Trust Co acquired a new stake in shares of Microchip Technology in the 2nd quarter valued at approximately $421,000. Finally, Allworth Financial LP boosted its stake in shares of Microchip Technology by 41.8% in the second quarter. Allworth Financial LP now owns 7,821 shares of the semiconductor company’s stock valued at $550,000 after buying an additional 2,307 shares in the last quarter. 91.51% of the stock is currently owned by institutional investors and hedge funds.

Microchip Technology Stock Down 4.7%

Microchip Technology stock opened at $62.73 on Friday. Microchip Technology Incorporated has a fifty-two week low of $34.13 and a fifty-two week high of $83.35. The firm has a market capitalization of $33.95 billion, a price-to-earnings ratio of -216.31, a price-to-earnings-growth ratio of 1.66 and a beta of 1.45. The stock’s fifty day moving average is $74.27 and its two-hundred day moving average is $66.66. The company has a debt-to-equity ratio of 0.82, a quick ratio of 1.16 and a current ratio of 2.16.

Microchip Technology (NASDAQ:MCHP) last released its quarterly earnings results on Thursday, February 5th. The semiconductor company reported $0.44 earnings per share (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 business had revenue of $1.19 billion during the quarter, compared to the consensus estimate of $1.19 billion. During the same quarter in the previous year, the company posted $0.20 EPS. The business’s 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. Analysts predict that Microchip Technology Incorporated will post 1.03 EPS for the current fiscal year.

Microchip Technology Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, March 10th. Shareholders of record on Monday, February 23rd were issued a $0.455 dividend. This represents a $1.82 annualized dividend and a dividend yield of 2.9%. The ex-dividend date of this dividend was Monday, February 23rd. Microchip Technology’s dividend payout ratio is -627.59%.

Analyst Upgrades and Downgrades

Several research firms have issued reports on MCHP. Argus upgraded Microchip Technology to a “strong-buy” rating in a research report on Monday, February 9th. Bank of America upgraded shares of Microchip Technology from a “neutral” rating to a “buy” rating and set a $95.00 target price on the stock in a research report on Wednesday, January 28th. Morgan Stanley increased their price target on shares of Microchip Technology from $68.00 to $69.00 and gave the company an “equal weight” rating in a report on Tuesday, January 6th. Wall Street Zen cut shares of Microchip Technology from a “buy” rating to a “hold” rating in a research note on Saturday, March 7th. Finally, JPMorgan Chase & Co. boosted their price objective on shares of Microchip Technology from $85.00 to $95.00 and gave the stock an “overweight” rating in a report on Friday, February 6th. Three equities research analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating and eight have given a Hold rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $86.00.

Insider Activity

In other news, CEO Steve Sanghi sold 98,814 shares of the stock in a transaction that occurred on 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 sale, the chief executive officer directly owned 9,922,319 shares in the company, valued at $799,242,795.45. This represents a 0.99% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 1.94% of the stock is owned by company insiders.

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.