Rafferty Asset Management LLC Sells 1,373,648 Shares of Microchip Technology Incorporated $MCHP

Rafferty Asset Management LLC cut its holdings in shares of Microchip Technology Incorporated (NASDAQ:MCHP) by 22.1% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 4,830,114 shares of the semiconductor company’s stock after selling 1,373,648 shares during the period. Microchip Technology comprises approximately 1.0% of Rafferty Asset Management LLC’s investment portfolio, making the stock its 26th biggest position. Rafferty Asset Management LLC owned 0.89% of Microchip Technology worth $310,190,000 at the end of the most recent quarter.

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

Insider Buying and Selling

In other Microchip Technology news, CEO Steve Sanghi sold 98,814 shares of the stock in a transaction dated 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 completion of the sale, the chief executive officer directly owned 9,922,319 shares in the company, valued at approximately $799,242,795.45. This trade represents a 0.99% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 1.94% of the company’s stock.

Analysts Set New Price Targets

MCHP has been the subject of several research reports. Jefferies Financial Group reissued a “hold” rating on shares of Microchip Technology in a research note on Wednesday, February 4th. Argus upgraded shares of Microchip Technology to a “strong-buy” rating in a report on Monday, February 9th. BNP Paribas Exane raised Microchip Technology from a “neutral” rating to an “outperform” rating and set a $90.00 price objective on the stock in a report on Thursday, January 22nd. TD Cowen reduced their price objective on Microchip Technology from $65.00 to $60.00 and set a “hold” rating on the stock in a research report on Friday, November 7th. Finally, Piper Sandler increased their target price on Microchip Technology from $80.00 to $85.00 and gave the company an “overweight” rating in a research report on Thursday, January 15th. Three research analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating and eight have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $86.00.

Microchip Technology Stock Performance

NASDAQ MCHP opened at $74.64 on Friday. The company has a market capitalization of $40.39 billion, a price-to-earnings ratio of -257.38, a PEG ratio of 1.89 and a beta of 1.46. The company has a quick ratio of 1.16, a current ratio of 2.16 and a debt-to-equity ratio of 0.82. Microchip Technology Incorporated has a twelve month low of $34.13 and a twelve month high of $83.35. The stock has a fifty day simple moving average of $73.81 and a 200 day simple moving average of $66.57.

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

Microchip Technology Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, March 10th. Shareholders of record on Monday, February 23rd will be issued a dividend of $0.455 per share. The ex-dividend date is Monday, February 23rd. This represents a $1.82 annualized dividend and a yield of 2.4%. Microchip Technology’s dividend payout ratio (DPR) is presently -627.59%.

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.