Microchip Technology Incorporated $MCHP Stake Lifted by Barclays PLC

Barclays PLC increased its stake in Microchip Technology Incorporated (NASDAQ:MCHP) by 66.5% in the 4th quarter, HoldingsChannel reports. The fund owned 13,996,883 shares of the semiconductor company’s stock after acquiring an additional 5,590,210 shares during the period. Barclays PLC’s holdings in Microchip Technology were worth $891,881,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Caitong International Asset Management Co. Ltd boosted its holdings in Microchip Technology by 4,663.6% during the fourth 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. GoalVest Advisory LLC boosted its holdings in Microchip Technology by 174.0% during the fourth quarter. GoalVest Advisory LLC now owns 548 shares of the semiconductor company’s stock worth $35,000 after buying an additional 348 shares in the last quarter. Board of the Pension Protection Fund bought a new stake in Microchip Technology during the fourth quarter worth approximately $38,000. Kohmann Bosshard Financial Services LLC bought a new stake in Microchip Technology during the fourth quarter worth approximately $38,000. Finally, Rossby Financial LCC boosted its holdings in Microchip Technology by 41.1% during the fourth quarter. Rossby Financial LCC now owns 628 shares of the semiconductor company’s stock worth $40,000 after buying an additional 183 shares in the last quarter. 91.51% of the stock is currently owned by institutional investors.

Insider Activity

In other Microchip Technology news, CFO James Eric Bjornholt sold 3,667 shares of the 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 completion of the sale, the chief financial officer owned 28,573 shares in the company, valued at $2,596,428.51. This represents a 11.37% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available 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 completion of the sale, the chief operating officer owned 130,508 shares of the company’s stock, valued at approximately $12,727,140.16. The trade was a 3.69% decrease in their position. The SEC filing for this sale provides additional information. 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 Trading Up 2.5%

Microchip Technology stock opened at $95.24 on Friday. The company has a 50 day moving average price of $87.85 and a 200 day moving average price of $75.61. Microchip Technology Incorporated has a 52 week low of $48.52 and a 52 week high of $105.91. 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 firm has a market capitalization of $51.63 billion, a price-to-earnings ratio of 453.55, a P/E/G ratio of 1.00 and a beta of 1.73.

Microchip Technology (NASDAQ:MCHP) last posted its quarterly earnings data on Thursday, May 7th. The semiconductor company reported $0.57 EPS for the quarter, topping analysts’ consensus estimates of $0.50 by $0.07. Microchip Technology had a net margin of 4.88% and a return on equity of 10.87%. The firm had revenue of $1.31 billion during the quarter, compared to analyst estimates of $1.26 billion. During the same quarter last year, the business posted $0.11 EPS. The company’s revenue was up 35.1% on a year-over-year basis. Microchip Technology has set its Q1 2027 guidance at 0.670-0.710 EPS. Research analysts forecast that Microchip Technology Incorporated will post 2.58 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 1.9%. Microchip Technology’s dividend payout ratio (DPR) is currently 866.67%.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on MCHP. Weiss Ratings upgraded shares of Microchip Technology from a “hold (c-)” rating to a “hold (c)” rating in a report on Thursday, June 4th. Citigroup raised their target price on shares of Microchip Technology from $91.00 to $113.00 and gave the stock a “buy” rating in a report on Friday, May 8th. JPMorgan Chase & Co. raised their target price on shares of Microchip Technology from $95.00 to $120.00 and gave the stock an “overweight” rating in a report on Friday, May 8th. Truist Financial raised their target price on shares of Microchip Technology from $69.00 to $105.00 and gave the stock a “hold” rating in a report on Friday, May 8th. Finally, Cantor Fitzgerald restated an “overweight” rating and set a $125.00 target price on shares of Microchip Technology in a report on Wednesday, May 13th. Four analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating and seven have issued a Hold rating to the company’s stock. According to MarketBeat.com, Microchip Technology currently has a consensus rating of “Moderate Buy” and a consensus target price of $98.18.

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.