Holocene Advisors LP Has $302.45 Million Stock Position in Microchip Technology Incorporated $MCHP

Holocene Advisors LP boosted its stake in shares of Microchip Technology Incorporated (NASDAQ:MCHP) by 77.0% during the third quarter, Holdings Channel reports. The fund owned 4,709,538 shares of the semiconductor company’s stock after acquiring an additional 2,049,249 shares during the period. Holocene Advisors LP’s holdings in Microchip Technology were worth $302,447,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Winnow Wealth LLC bought a new position in shares of Microchip Technology in the third quarter worth about $25,000. Root Financial Partners LLC bought a new stake in Microchip Technology during the 3rd quarter worth about $28,000. Salomon & Ludwin LLC lifted its position in Microchip Technology by 219.3% during the 3rd quarter. Salomon & Ludwin LLC now owns 479 shares of the semiconductor company’s stock valued at $32,000 after purchasing an additional 329 shares during the period. Quent Capital LLC bought a new position in shares of Microchip Technology in the 3rd quarter valued at about $32,000. Finally, E Fund Management Hong Kong Co. Ltd. grew its position in shares of Microchip Technology by 106.8% during the 3rd quarter. E Fund Management Hong Kong Co. Ltd. now owns 517 shares of the semiconductor company’s stock worth $33,000 after buying an additional 267 shares during the period. Institutional investors and hedge funds own 91.51% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on MCHP shares. Weiss Ratings raised shares of Microchip Technology from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Friday, February 6th. BNP Paribas Exane raised shares of Microchip Technology from a “neutral” rating to an “outperform” rating and set a $90.00 target price for the company in a report on Thursday, January 22nd. Stifel Nicolaus set a $90.00 target price on shares of Microchip Technology in a research report on Friday, February 6th. Rosenblatt Securities increased their price target on Microchip Technology from $80.00 to $115.00 and gave the company a “buy” rating in a research note on Friday, February 6th. Finally, JPMorgan Chase & Co. raised their price target on Microchip Technology from $85.00 to $95.00 and gave the stock an “overweight” rating in a research report on Friday, February 6th. Three analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and eight have issued a Hold rating to the company. According to MarketBeat.com, Microchip Technology has an average rating of “Moderate Buy” and a consensus price target of $86.00.

Microchip Technology Stock Down 1.3%

Microchip Technology stock opened at $61.94 on Monday. The firm has a market capitalization of $33.52 billion, a price-to-earnings ratio of -213.59, a PEG ratio of 1.56 and a beta of 1.45. The company’s 50 day simple moving average is $74.21 and its 200 day simple moving average is $66.61. The company has a debt-to-equity ratio of 0.82, a current ratio of 2.16 and a quick ratio of 1.16. Microchip Technology Incorporated has a fifty-two week low of $34.13 and a fifty-two week high of $83.35.

Microchip Technology (NASDAQ:MCHP) last issued its earnings results on Thursday, February 5th. The semiconductor company reported $0.44 EPS for the quarter, beating the consensus estimate of $0.43 by $0.01. The firm had revenue of $1.19 billion during the quarter, compared to the consensus estimate of $1.19 billion. Microchip Technology had a negative net margin of 1.57% and a positive return on equity of 7.16%. The business’s quarterly revenue was up 15.6% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.20 earnings per share. Microchip Technology has set its Q4 2026 guidance at 0.480-0.520 EPS. As a group, sell-side analysts anticipate that Microchip Technology Incorporated will post 1.03 EPS for the current year.

Microchip Technology Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, March 10th. Investors of record on Monday, February 23rd were given a $0.455 dividend. The ex-dividend date was Monday, February 23rd. This represents a $1.82 dividend on an annualized basis and a dividend yield of 2.9%. Microchip Technology’s dividend payout ratio is currently -627.59%.

Insider Buying and Selling

In related news, CEO Steve Sanghi sold 98,814 shares of the firm’s stock in a transaction on Wednesday, January 28th. The stock was sold at an average price of $80.55, for a total transaction of $7,959,467.70. Following the sale, the chief executive officer owned 9,922,319 shares of the company’s stock, valued at approximately $799,242,795.45. This trade represents a 0.99% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Insiders own 1.94% of the company’s stock.

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.