RNC Capital Management LLC Boosts Holdings in Microchip Technology Incorporated $MCHP

RNC Capital Management LLC lifted its stake in Microchip Technology Incorporated (NASDAQ:MCHP) by 2.3% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 646,224 shares of the semiconductor company’s stock after buying an additional 14,539 shares during the period. Microchip Technology makes up 1.9% of RNC Capital Management LLC’s investment portfolio, making the stock its 26th largest holding. RNC Capital Management LLC owned about 0.12% of Microchip Technology worth $41,177,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently modified their holdings of MCHP. Winnow Wealth LLC purchased a new position in shares of Microchip Technology in the 3rd quarter valued at $25,000. Root Financial Partners LLC acquired a new stake in Microchip Technology during the 3rd quarter worth $28,000. Salomon & Ludwin LLC boosted its stake in Microchip Technology by 219.3% during the 3rd quarter. Salomon & Ludwin LLC now owns 479 shares of the semiconductor company’s stock worth $32,000 after purchasing an additional 329 shares during the period. Quent Capital LLC acquired a new stake in Microchip Technology during the 3rd quarter worth $32,000. Finally, E Fund Management Hong Kong Co. Ltd. boosted its stake in 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 worth $33,000 after purchasing an additional 267 shares during the period. 91.51% of the stock is owned by hedge funds and other institutional investors.

Microchip Technology Stock Up 1.4%

MCHP stock opened at $95.25 on Tuesday. Microchip Technology Incorporated has a one year low of $46.68 and a one year high of $96.22. The stock has a market capitalization of $51.54 billion, a PE ratio of -328.44, a price-to-earnings-growth ratio of 1.26 and a beta of 1.75. The company has a debt-to-equity ratio of 0.82, a quick ratio of 1.16 and a current ratio of 2.16. The company has a fifty day moving average of $71.81 and a 200-day moving average of $68.44.

Microchip Technology (NASDAQ:MCHP) last announced its quarterly earnings data 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 during the quarter, compared to the consensus estimate of $1.19 billion. Microchip Technology had a negative net margin of 1.57% and a positive return on equity of 7.16%. The firm’s revenue was up 15.6% compared to the same quarter last year. During the same quarter last year, the firm earned $0.20 earnings per share. Microchip Technology has set its Q4 2026 guidance at 0.480-0.520 EPS. As a group, analysts expect that Microchip Technology Incorporated will post 1.16 EPS for the current year.

Microchip Technology Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, March 10th. Shareholders of record on Monday, February 23rd were given a dividend of $0.455 per share. The ex-dividend date was Monday, February 23rd. This represents a $1.82 annualized dividend and a yield of 1.9%. Microchip Technology’s payout ratio is presently -627.59%.

Insider Transactions at Microchip Technology

In other Microchip Technology news, CEO Steve Sanghi sold 416,581 shares of the business’s stock in a transaction that occurred on Thursday, April 23rd. The stock was sold at an average price of $88.53, for a total transaction of $36,879,915.93. Following the transaction, the chief executive officer owned 9,495,805 shares in the company, valued at approximately $840,663,616.65. The trade was a 4.20% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders sold 526,552 shares of company stock worth $47,130,465. Insiders own 1.94% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on MCHP. UBS Group increased their price target on shares of Microchip Technology from $85.00 to $95.00 and gave the stock a “buy” rating in a research note on Monday, January 26th. Citigroup decreased their price target on shares of Microchip Technology from $92.00 to $91.00 and set a “buy” rating for the company in a research note on Friday, February 6th. Zacks Research cut shares of Microchip Technology from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, February 24th. Jefferies Financial Group reiterated a “hold” rating on shares of Microchip Technology in a research note on Wednesday, February 4th. Finally, Truist Financial increased their price target on shares of Microchip Technology from $60.00 to $68.00 and gave the stock a “hold” rating in a research note on Friday, February 6th. Three research analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and eight have issued a Hold rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $86.00.

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.