Jennison Associates LLC Boosts Stake in Microchip Technology Incorporated $MCHP

Jennison Associates LLC grew its holdings in shares of Microchip Technology Incorporated (NASDAQ:MCHP) by 166.4% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 247,773 shares of the semiconductor company’s stock after acquiring an additional 154,762 shares during the period. Jennison Associates LLC’s holdings in Microchip Technology were worth $16,009,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of the business. EFG International AG purchased a new position in Microchip Technology in the fourth quarter valued at about $29,000. Miller Capital Partners Inc. purchased a new stake in Microchip Technology during the 4th quarter worth approximately $29,000. Garton & Associates Financial Advisors LLC acquired a new position in shares of Microchip Technology in the 4th quarter valued at approximately $33,000. Reflection Asset Management acquired a new position in shares of Microchip Technology in the 4th quarter valued at approximately $33,000. Finally, Caitong International Asset Management Co. Ltd raised its position in shares of Microchip Technology by 4,663.6% in 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. 91.51% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on MCHP. TD Cowen decreased their price target on shares of Microchip Technology from $105.00 to $90.00 and set a “hold” rating for the company in a research report on Monday, July 13th. Wall Street Zen raised shares of Microchip Technology from a “hold” rating to a “buy” rating in a report on Saturday, May 9th. Citigroup increased their price objective on shares of Microchip Technology from $91.00 to $113.00 and gave the company a “buy” rating in a research note on Friday, May 8th. Wells Fargo & Company decreased 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 report on Monday. Finally, Barclays boosted their target price on shares of Microchip Technology from $80.00 to $105.00 and gave the stock an “equal weight” rating in a research report on Monday, May 11th. Four equities research analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and seven have issued a Hold rating to the company’s stock. According to data from MarketBeat, Microchip Technology presently has an average rating of “Moderate Buy” and a consensus price target of $99.76.

Insider Buying and Selling at Microchip Technology

In related news, CFO James Eric Bjornholt sold 3,667 shares of the business’s stock in a transaction dated Friday, May 22nd. The shares were sold at an average price of $90.87, for a total transaction of $333,220.29. Following the completion of the sale, the chief financial officer owned 28,573 shares of the company’s stock, valued at $2,596,428.51. This represents a 11.37% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible 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 dated Thursday, June 4th. The stock was sold at an average price of $97.52, for a total transaction of $487,600.00. Following the sale, the chief operating officer owned 130,508 shares in the company, valued at approximately $12,727,140.16. This trade represents a 3.69% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders have sold 553,302 shares of company stock valued at $49,673,635. Corporate insiders own 1.79% of the company’s stock.

Microchip Technology Price Performance

Shares of MCHP opened at $83.38 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 current ratio of 2.09, a quick ratio of 1.18 and a debt-to-equity ratio of 0.85. The firm has a market cap of $45.28 billion, a price-to-earnings ratio of 397.07, a PEG ratio of 0.81 and a beta of 1.74. The stock has a 50 day moving average of $91.49 and a 200-day moving average of $80.84.

Microchip Technology (NASDAQ:MCHP) last posted its quarterly earnings results on Thursday, May 7th. The semiconductor company reported $0.57 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.50 by $0.07. The business had revenue of $1.31 billion for the quarter, compared to analyst estimates of $1.26 billion. Microchip Technology had a return on equity of 10.87% and a net margin of 4.88%.The business’s revenue was up 35.1% compared to the same quarter last year. During the same period in the prior year, the company posted $0.11 EPS. Microchip Technology has set its Q1 2027 guidance at 0.670-0.710 EPS. As a group, analysts forecast that Microchip Technology Incorporated will post 2.69 EPS for the current year.

Microchip Technology Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, June 5th. Stockholders of record on Friday, May 22nd were given a $0.455 dividend. This represents a $1.82 dividend on an annualized basis and a dividend yield of 2.2%. The ex-dividend date was Friday, May 22nd. Microchip Technology’s dividend payout ratio (DPR) is presently 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.