Microchip Technology Incorporated $MCHP Stock Position Lowered by SVB Wealth LLC

SVB Wealth LLC decreased its position in Microchip Technology Incorporated (NASDAQ:MCHP) by 27.5% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 27,916 shares of the semiconductor company’s stock after selling 10,611 shares during the quarter. SVB Wealth LLC’s holdings in Microchip Technology were worth $1,804,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of MCHP. MCF Advisors LLC grew its holdings in Microchip Technology by 25.8% during the fourth quarter. MCF Advisors LLC now owns 659 shares of the semiconductor company’s stock worth $42,000 after acquiring an additional 135 shares during the period. Gagnon Securities LLC lifted its holdings in Microchip Technology by 0.5% in the 4th quarter. Gagnon Securities LLC now owns 27,162 shares of the semiconductor company’s stock valued at $1,731,000 after acquiring an additional 137 shares during the last quarter. Evelyn Partners Investment Management LLP boosted its position in shares of Microchip Technology by 1.5% during the 4th quarter. Evelyn Partners Investment Management LLP now owns 9,300 shares of the semiconductor company’s stock valued at $593,000 after purchasing an additional 140 shares in the last quarter. Millstone Evans Group LLC boosted its position in shares of Microchip Technology by 23.7% during the 4th quarter. Millstone Evans Group LLC now owns 742 shares of the semiconductor company’s stock valued at $47,000 after purchasing an additional 142 shares in the last quarter. Finally, Dorsey & Whitney Trust CO LLC grew its stake in shares of Microchip Technology by 1.6% in the 4th quarter. Dorsey & Whitney Trust CO LLC now owns 8,973 shares of the semiconductor company’s stock worth $572,000 after purchasing an additional 143 shares during the last quarter. Institutional investors own 91.51% of the company’s stock.

Analysts Set New Price Targets

A number of analysts recently commented on MCHP shares. Weiss Ratings upgraded shares of Microchip Technology from a “hold (c-)” rating to a “hold (c)” rating in a report on Thursday, June 4th. Wells Fargo & Company raised their target price on shares of Microchip Technology from $75.00 to $95.00 and gave the stock an “equal weight” rating in a report on Friday, May 8th. Zacks Research upgraded shares of Microchip Technology from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, May 12th. Susquehanna upped their price target on Microchip Technology from $95.00 to $120.00 and gave the company a “positive” rating in a report on Friday, May 8th. Finally, Needham & Company LLC increased their price objective on Microchip Technology from $84.00 to $120.00 and gave the company a “buy” rating in a research report on Friday, May 8th. Four analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating and seven have given a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $98.18.

Insider Activity

In other Microchip Technology news, COO Richard J. Simoncic sold 5,000 shares of Microchip Technology stock in a transaction that occurred on Thursday, June 4th. The shares were 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 approximately $12,727,140.16. The trade was a 3.69% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO James Eric Bjornholt sold 3,667 shares of the business’s stock in a transaction on Friday, May 22nd. The shares were sold at an average price of $90.87, for a total transaction of $333,220.29. Following the sale, the chief financial officer directly owned 28,573 shares in the company, valued at approximately $2,596,428.51. This trade represents a 11.37% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders sold 553,302 shares of company stock worth $49,673,635. Company insiders own 1.94% of the company’s stock.

Microchip Technology Price Performance

NASDAQ MCHP opened at $93.26 on Wednesday. The stock’s 50-day moving average price is $91.98 and its two-hundred day moving average price is $77.91. The company has a current ratio of 2.09, a quick ratio of 1.18 and a debt-to-equity ratio of 0.85. The company has a market cap of $50.55 billion, a PE ratio of 444.12, a PEG ratio of 1.08 and a beta of 1.73. Microchip Technology Incorporated has a 1 year low of $48.52 and a 1 year high of $105.91.

Microchip Technology (NASDAQ:MCHP) last announced its earnings results on Thursday, May 7th. The semiconductor company reported $0.57 EPS for the quarter, topping the consensus estimate of $0.50 by $0.07. The company had revenue of $1.31 billion during the quarter, compared to analysts’ expectations of $1.26 billion. Microchip Technology had a net margin of 4.88% and a return on equity of 10.87%. The business’s revenue for the quarter was up 35.1% on a year-over-year basis. During the same period last year, the company posted $0.11 earnings per share. Microchip Technology has set its Q1 2027 guidance at 0.670-0.710 EPS. On average, analysts predict that Microchip Technology Incorporated will post 2.59 EPS for the current year.

Microchip Technology Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, June 5th. Investors of record on Friday, May 22nd were paid a $0.455 dividend. The ex-dividend date of this dividend was Friday, May 22nd. This represents a $1.82 dividend on an annualized basis and a yield of 2.0%. Microchip Technology’s dividend payout ratio (DPR) is currently 866.67%.

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.