53,054 Shares in Microchip Technology Incorporated $MCHP Acquired by LGT Fund Management Co Ltd.

LGT Fund Management Co Ltd. acquired a new stake in Microchip Technology Incorporated (NASDAQ:MCHP) in the 1st quarter, according to the company in its most recent filing with the SEC. The fund acquired 53,054 shares of the semiconductor company’s stock, valued at approximately $3,428,000.

Several other large investors also recently made changes to their positions in the business. Norges Bank bought a new stake in Microchip Technology during the 4th quarter worth about $664,564,000. Barclays PLC lifted its position in shares of Microchip Technology by 66.5% during the fourth quarter. Barclays PLC now owns 13,996,883 shares of the semiconductor company’s stock worth $891,881,000 after purchasing an additional 5,590,210 shares in the last quarter. Holocene Advisors LP lifted its position in shares of Microchip Technology by 77.0% during the third quarter. Holocene Advisors LP now owns 4,709,538 shares of the semiconductor company’s stock worth $302,447,000 after purchasing an additional 2,049,249 shares in the last quarter. Rafferty Asset Management LLC grew its stake in shares of Microchip Technology by 41.0% during the second quarter. Rafferty Asset Management LLC now owns 6,203,762 shares of the semiconductor company’s stock valued at $436,559,000 after purchasing an additional 1,803,945 shares during the last quarter. Finally, Bank of America Corp DE grew its stake in shares of Microchip Technology by 18.8% during the third quarter. Bank of America Corp DE now owns 11,419,944 shares of the semiconductor company’s stock valued at $733,389,000 after purchasing an additional 1,803,831 shares during the last quarter. Institutional investors own 91.51% of the company’s stock.

Analyst Ratings Changes

Several research analysts have issued reports on the company. UBS Group reaffirmed a “buy” rating on shares of Microchip Technology in a report on Tuesday, June 2nd. Cantor Fitzgerald reissued an “overweight” rating and issued a $125.00 target price on shares of Microchip Technology in a research note on Wednesday, May 13th. Truist Financial boosted their target price on Microchip Technology from $69.00 to $105.00 and gave the stock a “hold” rating in a research report on Friday, May 8th. Rosenblatt Securities upped their price target on Microchip Technology from $115.00 to $120.00 and gave the company a “buy” rating in a research note on Friday, May 8th. Finally, Wells Fargo & Company raised their price target on Microchip Technology from $75.00 to $95.00 and gave the company an “equal weight” rating in a report on Friday, May 8th. Four investment analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and seven have assigned a Hold rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $98.67.

Insiders Place Their Bets

In related news, CFO James Eric Bjornholt sold 3,667 shares of the business’s stock in a transaction that occurred on Friday, May 22nd. The stock was sold at an average price of $90.87, for a total value of $333,220.29. Following the completion of the transaction, the chief financial officer directly owned 28,573 shares in the company, valued at approximately $2,596,428.51. The trade was a 11.37% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, 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 value of $487,600.00. Following the sale, the chief operating officer directly 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 ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 553,302 shares of company stock valued at $49,673,635 over the last ninety days. 1.94% of the stock is owned by insiders.

Microchip Technology Price Performance

Shares of NASDAQ:MCHP opened at $88.59 on Monday. The company has a 50 day moving average price of $93.64 and a two-hundred day moving average price of $79.92. 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 market capitalization of $48.11 billion, a PE ratio of 421.88, a PEG ratio of 0.91 and a beta of 1.74. Microchip Technology Incorporated has a 52 week low of $48.52 and a 52 week high of $105.91.

Microchip Technology (NASDAQ:MCHP) last announced 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. Microchip Technology had a net margin of 4.88% and a return on equity of 10.87%. The company had revenue of $1.31 billion for the quarter, compared to analysts’ expectations of $1.26 billion. During the same period last year, the firm posted $0.11 earnings per share. The business’s quarterly revenue was up 35.1% compared to the same quarter last year. Microchip Technology has set its Q1 2027 guidance at 0.670-0.710 EPS. Analysts forecast that Microchip Technology Incorporated will post 2.66 earnings per share for the current year.

Microchip Technology Announces Dividend

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 2.1%. The ex-dividend date of this dividend was Friday, May 22nd. Microchip Technology’s payout ratio is presently 866.67%.

Microchip Technology 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.