Zweig DiMenna Associates LLC Raises Stock Position in Microchip Technology Incorporated $MCHP

Zweig DiMenna Associates LLC boosted its stake in shares of Microchip Technology Incorporated (NASDAQ:MCHP) by 21.0% in the first quarter, HoldingsChannel.com reports. The fund owned 147,000 shares of the semiconductor company’s stock after purchasing an additional 25,500 shares during the period. Microchip Technology makes up about 1.3% of Zweig DiMenna Associates LLC’s investment portfolio, making the stock its 28th biggest position. Zweig DiMenna Associates LLC’s holdings in Microchip Technology were worth $9,498,000 at the end of the most recent reporting period.

A number of other large investors also recently added to or reduced their stakes in MCHP. Miller Capital Partners Inc. purchased a new position in Microchip Technology in the 4th quarter valued at about $29,000. EFG International AG purchased a new stake in Microchip Technology during the 4th quarter worth approximately $29,000. Caitong International Asset Management Co. Ltd increased its stake in Microchip Technology by 4,663.6% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 524 shares of the semiconductor company’s stock worth $33,000 after buying an additional 513 shares in the last quarter. Garton & Associates Financial Advisors LLC acquired a new position in shares of Microchip Technology during the fourth quarter valued at approximately $33,000. Finally, Reflection Asset Management acquired a new position in shares of Microchip Technology during the fourth quarter valued at approximately $33,000. 91.51% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Microchip Technology

In other news, CFO James Eric Bjornholt sold 3,667 shares of the company’s stock in a transaction that occurred on Friday, May 22nd. The shares were sold at an average price of $90.87, for a total value of $333,220.29. Following the transaction, the chief financial officer directly owned 28,573 shares in the company, valued at approximately $2,596,428.51. This represents a 11.37% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, COO Richard J. Simoncic sold 5,000 shares of the stock in a transaction that occurred on 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 of the company’s stock, valued at $12,727,140.16. The trade was a 3.69% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 553,302 shares of company stock valued at $49,673,635 in the last ninety days. Insiders own 1.79% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the company. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $125.00 price target on shares of Microchip Technology in a research note on Wednesday, May 13th. Needham & Company LLC raised their price target on shares of Microchip Technology from $84.00 to $120.00 and gave the stock a “buy” rating in a research note on Friday, May 8th. JPMorgan Chase & Co. boosted their price target on shares of Microchip Technology from $95.00 to $120.00 and gave the stock an “overweight” rating in a research report on Friday, May 8th. Weiss Ratings raised shares of Microchip Technology from a “hold (c-)” rating to a “hold (c)” rating in a research note on Thursday, June 4th. Finally, TD Cowen cut their price objective on shares of Microchip Technology from $105.00 to $90.00 and set a “hold” rating for the company in a report on Monday. Four research analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating and seven have assigned a Hold rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $100.10.

Microchip Technology Price Performance

MCHP stock opened at $87.11 on Wednesday. Microchip Technology Incorporated has a 52-week low of $48.52 and a 52-week high of $105.91. The company has a quick ratio of 1.18, a current ratio of 2.09 and a debt-to-equity ratio of 0.85. The stock has a market cap of $47.30 billion, a price-to-earnings ratio of 414.83, a price-to-earnings-growth ratio of 0.86 and a beta of 1.74. The business has a fifty day moving average of $93.24 and a two-hundred day moving average of $80.21.

Microchip Technology (NASDAQ:MCHP) last released its quarterly earnings results on Thursday, May 7th. The semiconductor company reported $0.57 earnings per share for the quarter, topping analysts’ consensus estimates of $0.50 by $0.07. The business had revenue of $1.31 billion during the quarter, compared to analysts’ expectations of $1.26 billion. Microchip Technology had a return on equity of 10.87% and a net margin of 4.88%.The company’s revenue was up 35.1% compared to the same quarter last year. During the same period in the prior year, the business posted $0.11 EPS. Microchip Technology has set its Q1 2027 guidance at 0.670-0.710 EPS. As a group, research analysts anticipate that Microchip Technology Incorporated will post 2.66 earnings per share for the current year.

Microchip Technology Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, June 5th. Shareholders of record on Friday, May 22nd were paid a dividend of $0.455 per share. This represents a $1.82 annualized dividend and a yield of 2.1%. The ex-dividend date of this dividend was Friday, May 22nd. Microchip Technology’s dividend payout ratio (DPR) is 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.