Y Intercept Hong Kong Ltd Acquires New Position in Microchip Technology Incorporated $MCHP

Y Intercept Hong Kong Ltd bought a new position in Microchip Technology Incorporated (NASDAQ:MCHP) in the first quarter, HoldingsChannel reports. The fund bought 48,871 shares of the semiconductor company’s stock, valued at approximately $3,158,000.

Other institutional investors and hedge funds have also modified their holdings of the company. AQR Capital Management LLC raised its holdings in shares of Microchip Technology by 51.3% during the first quarter. AQR Capital Management LLC now owns 17,201 shares of the semiconductor company’s stock worth $827,000 after acquiring an additional 5,835 shares in the last quarter. Geneos Wealth Management Inc. increased its position in Microchip Technology by 101.8% in the 1st quarter. Geneos Wealth Management Inc. now owns 1,221 shares of the semiconductor company’s stock worth $59,000 after purchasing an additional 616 shares during the last quarter. Cresset Asset Management LLC increased its position in Microchip Technology by 5.4% in the 2nd quarter. Cresset Asset Management LLC now owns 11,433 shares of the semiconductor company’s stock worth $805,000 after purchasing an additional 589 shares during the last quarter. AXA S.A. raised its stake in shares of Microchip Technology by 21.3% during the 2nd quarter. AXA S.A. now owns 51,552 shares of the semiconductor company’s stock worth $3,628,000 after purchasing an additional 9,043 shares in the last quarter. Finally, Treasurer of the State of North Carolina lifted its holdings in shares of Microchip Technology by 1.6% during the 2nd quarter. Treasurer of the State of North Carolina now owns 246,530 shares of the semiconductor company’s stock valued at $17,348,000 after buying an additional 3,851 shares during the last quarter. 91.51% of the stock is currently owned by hedge funds and other institutional investors.

Microchip Technology Trading Down 4.8%

Microchip Technology stock traded down $4.22 during midday trading on Tuesday, hitting $83.36. 3,180,110 shares of the stock were exchanged, compared to its average volume of 10,438,980. The stock has a market capitalization of $45.19 billion, a PE ratio of 395.44, a P/E/G ratio of 0.87 and a beta of 1.74. The company has a fifty day simple moving average of $93.73 and a two-hundred day simple moving average of $79.31. The company has a quick ratio of 1.18, a current ratio of 2.09 and a debt-to-equity ratio of 0.85. 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 earnings results on Thursday, May 7th. The semiconductor company reported $0.57 earnings per share for the quarter, topping the consensus estimate of $0.50 by $0.07. The company had revenue of $1.31 billion for the quarter, compared to analyst estimates 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% compared to the same quarter last year. During the same period last year, the business posted $0.11 earnings per share. Microchip Technology has set its Q1 2027 guidance at 0.670-0.710 EPS. Equities research analysts anticipate that Microchip Technology Incorporated will post 2.66 EPS for the current fiscal year.

Microchip Technology Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, June 5th. Shareholders of record on Friday, May 22nd were paid a $0.455 dividend. This represents a $1.82 dividend on an annualized basis and a yield of 2.2%. The ex-dividend date of this dividend was Friday, May 22nd. Microchip Technology’s payout ratio is presently 866.67%.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on MCHP. UBS Group reissued a “buy” rating on shares of Microchip Technology in a research note on Tuesday, June 2nd. Zacks Research upgraded shares of Microchip Technology from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, May 12th. Wall Street Zen raised shares of Microchip Technology from a “hold” rating to a “buy” rating in a research note on Saturday, May 9th. Weiss Ratings raised Microchip Technology from a “hold (c-)” rating to a “hold (c)” rating in a research note on Thursday, June 4th. Finally, Barclays lifted their price target on shares of Microchip Technology from $80.00 to $105.00 and gave the stock an “equal weight” rating in a research report on Monday, May 11th. Four equities research 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. According to MarketBeat.com, Microchip Technology has a consensus rating of “Moderate Buy” and an average price target of $98.18.

Insiders Place Their Bets

In related news, Director Matthew W. Chapman sold 10,000 shares of the business’s stock in a transaction on Friday, May 15th. The shares were sold at an average price of $95.48, for a total value of $954,800.00. Following the sale, the director directly owned 20,665 shares of the company’s stock, valued at approximately $1,973,094.20. The trade was a 32.61% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Steve Sanghi sold 416,581 shares of the company’s stock in a transaction on Thursday, April 23rd. The stock was sold at an average price of $88.53, for a total transaction of $36,879,915.93. Following the completion of the transaction, the chief executive officer directly owned 9,495,805 shares of the company’s stock, valued at approximately $840,663,616.65. The trade was a 4.20% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders have sold 553,302 shares of company stock worth $49,673,635. Company 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.