Senvest Management LLC Purchases New Position in Microchip Technology Incorporated $MCHP

Senvest Management LLC acquired a new position in Microchip Technology Incorporated (NASDAQ:MCHP) during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 516,200 shares of the semiconductor company’s stock, valued at approximately $33,352,000. Microchip Technology comprises approximately 1.1% of Senvest Management LLC’s holdings, making the stock its 28th largest position. Senvest Management LLC owned 0.10% of Microchip Technology 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 business. EFG International AG acquired a new stake in Microchip Technology in the fourth quarter valued at approximately $29,000. Miller Capital Partners Inc. bought a new stake in Microchip Technology in the fourth quarter worth approximately $29,000. Reflection Asset Management acquired a new position in shares of Microchip Technology during the 4th quarter worth $33,000. Garton & Associates Financial Advisors LLC acquired a new position in shares of Microchip Technology during the 4th quarter worth $33,000. Finally, Caitong International Asset Management Co. Ltd raised its holdings in shares of 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 valued at $33,000 after purchasing an additional 513 shares in the last quarter. Institutional investors own 91.51% of the company’s stock.

Insider Buying and Selling at Microchip Technology

In other Microchip Technology news, CEO Steve Sanghi sold 76,469 shares of the business’s stock in a transaction on Friday, May 1st. The shares were sold at an average price of $93.58, for a total value of $7,155,969.02. Following the sale, the chief executive officer owned 9,385,834 shares of the company’s stock, valued at $878,326,345.72. The trade was a 0.81% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 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 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 completion of the transaction, the chief operating officer owned 130,508 shares of the company’s stock, valued at approximately $12,727,140.16. This represents a 3.69% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 136,721 shares of company stock worth $12,793,719 over the last three months. 1.79% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the stock. Wells Fargo & Company reduced their price objective on shares of Microchip Technology from $95.00 to $88.00 and set an “equal weight” rating for the company in a research note on Monday, July 20th. Zacks Research raised shares of Microchip Technology from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, May 12th. Rosenblatt Securities raised their target price on Microchip Technology from $115.00 to $120.00 and gave the company a “buy” rating in a report on Friday, May 8th. TD Cowen reduced their price target on Microchip Technology from $105.00 to $90.00 and set a “hold” rating for the company in a research report on Monday, July 13th. Finally, JPMorgan Chase & Co. increased their price objective on Microchip Technology from $95.00 to $120.00 and gave the company an “overweight” rating in a report on Friday, May 8th. Four research analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and seven have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $99.76.

Microchip Technology Stock Down 3.1%

Shares of MCHP opened at $78.86 on Friday. The company has a debt-to-equity ratio of 0.85, a quick ratio of 1.18 and a current ratio of 2.09. The company has a 50-day simple moving average of $90.64 and a 200-day simple moving average of $81.09. Microchip Technology Incorporated has a 52 week low of $48.52 and a 52 week high of $105.91. The firm has a market capitalization of $42.82 billion, a P/E ratio of 375.54, a P/E/G ratio of 0.82 and a beta of 1.74.

Microchip Technology (NASDAQ:MCHP) last posted its quarterly earnings results on Thursday, May 7th. The semiconductor company reported $0.57 EPS for the quarter, beating the consensus estimate of $0.50 by $0.07. Microchip Technology had a return on equity of 10.87% and a net margin of 4.88%.The firm had revenue of $1.31 billion during the quarter, compared to analysts’ expectations of $1.26 billion. During the same quarter in the prior year, the firm posted $0.11 EPS. The company’s revenue for the quarter was up 35.1% on a year-over-year basis. Microchip Technology has set its Q1 2027 guidance at 0.670-0.710 EPS. On average, equities research analysts expect that Microchip Technology Incorporated will post 2.7 earnings per share for the current year.

Microchip Technology Dividend Announcement

The firm also recently declared 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. The ex-dividend date was Friday, May 22nd. This represents a $1.82 dividend on an annualized basis and a yield of 2.3%. Microchip Technology’s payout ratio is currently 866.67%.

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.