Senvest Management LLC Purchases New Position in Microchip Technology Incorporated $MCHP

Senvest Management LLC purchased a new stake in Microchip Technology Incorporated (NASDAQ:MCHP) during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 516,200 shares of the semiconductor company’s stock, valued at approximately $33,352,000. Microchip Technology accounts for 1.1% of Senvest Management LLC’s portfolio, making the stock its 28th largest holding.

Other hedge funds have also recently bought and sold shares of the company. Resonant Capital Advisors LLC lifted its holdings in shares of Microchip Technology by 0.9% during the first quarter. Resonant Capital Advisors LLC now owns 12,542 shares of the semiconductor company’s stock valued at $810,000 after acquiring an additional 118 shares during the period. MCF Advisors LLC grew its holdings in shares of Microchip Technology by 25.8% in the 4th quarter. MCF Advisors LLC now owns 659 shares of the semiconductor company’s stock worth $42,000 after purchasing an additional 135 shares during the last quarter. Gagnon Securities LLC increased its position in shares of Microchip Technology by 0.5% during the 4th quarter. Gagnon Securities LLC now owns 27,162 shares of the semiconductor company’s stock worth $1,731,000 after purchasing an additional 137 shares in the last quarter. Evelyn Partners Investment Management LLP increased its position in shares of Microchip Technology by 1.5% during the 4th quarter. Evelyn Partners Investment Management LLP now owns 9,300 shares of the semiconductor company’s stock worth $593,000 after purchasing an additional 140 shares in the last quarter. Finally, Millstone Evans Group LLC increased its position in shares of Microchip Technology by 23.7% during the 4th quarter. Millstone Evans Group LLC now owns 742 shares of the semiconductor company’s stock worth $47,000 after purchasing an additional 142 shares in the last quarter. 91.51% of the stock is currently owned by institutional investors and hedge funds.

Microchip Technology Price Performance

Microchip Technology stock opened at $78.86 on Friday. The business’s 50-day simple moving average is $90.64 and its 200 day simple moving average is $81.09. The company has a quick ratio of 1.18, a current ratio of 2.09 and a debt-to-equity ratio of 0.85. The stock has a market cap of $42.82 billion, a price-to-earnings ratio of 375.54, a P/E/G ratio of 0.82 and a beta of 1.74. Microchip Technology Incorporated has a 12-month low of $48.52 and a 12-month high of $105.91.

Microchip Technology (NASDAQ:MCHP) last announced its quarterly earnings data on Thursday, May 7th. The semiconductor company reported $0.57 earnings per share for the quarter, topping the consensus estimate of $0.50 by $0.07. Microchip Technology had a return on equity of 10.87% and a net margin of 4.88%.The firm had revenue of $1.31 billion during the quarter, compared to analysts’ expectations of $1.26 billion. During the same period in the previous year, the business posted $0.11 EPS. The company’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. As a group, research analysts anticipate that Microchip Technology Incorporated will post 2.7 earnings per share for the current year.

Microchip Technology Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, June 5th. Investors of record on Friday, May 22nd were paid a dividend of $0.455 per share. This represents a $1.82 dividend on an annualized basis and a dividend yield of 2.3%. The ex-dividend date of this dividend was Friday, May 22nd. Microchip Technology’s payout ratio is 866.67%.

Insider Buying and Selling at Microchip Technology

In related news, Director Matthew W. Chapman sold 3,000 shares of the stock in a transaction that occurred on Thursday, May 28th. The shares were sold at an average price of $97.52, for a total value of $292,560.00. Following the transaction, the director directly owned 17,665 shares in the company, valued at $1,722,690.80. This represents a 14.52% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Steve Sanghi sold 76,469 shares of the firm’s stock in a transaction that occurred on Friday, May 1st. The shares were sold at an average price of $93.58, for a total transaction of $7,155,969.02. Following the completion of the transaction, the chief executive officer directly owned 9,385,834 shares in the company, valued at approximately $878,326,345.72. The trade was a 0.81% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders sold 136,721 shares of company stock valued at $12,793,719. 1.79% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of equities analysts have commented on MCHP shares. Zacks Research upgraded shares of Microchip Technology from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, May 12th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $125.00 price objective on shares of Microchip Technology in a report on Wednesday, May 13th. TD Cowen cut their target price on shares of Microchip Technology from $105.00 to $90.00 and set a “hold” rating for the company in a research note on Monday, July 13th. JPMorgan Chase & Co. lifted their target price on shares of Microchip Technology from $95.00 to $120.00 and gave the company an “overweight” rating in a research note on Friday, May 8th. Finally, Wall Street Zen raised Microchip Technology from a “hold” rating to a “buy” rating in a report on Saturday, May 9th. Four investment 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. Based on data from MarketBeat, Microchip Technology has a consensus rating of “Moderate Buy” and a consensus price target of $99.76.

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.