Sumitomo Mitsui Trust Group Inc. Grows Stock Position in Microchip Technology Incorporated $MCHP

Sumitomo Mitsui Trust Group Inc. raised its position in Microchip Technology Incorporated (NASDAQ:MCHP) by 2.1% during the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 1,351,121 shares of the semiconductor company’s stock after acquiring an additional 27,802 shares during the quarter. Sumitomo Mitsui Trust Group Inc.’s holdings in Microchip Technology were worth $86,769,000 as of its most recent filing with the SEC.

Several other hedge funds also recently made changes to their positions in MCHP. First Horizon Corp purchased a new position in Microchip Technology during the third quarter worth about $101,000. Godsey & Gibb Inc. raised its stake in shares of Microchip Technology by 3.0% during the 3rd quarter. Godsey & Gibb Inc. now owns 290,941 shares of the semiconductor company’s stock worth $18,684,000 after buying an additional 8,360 shares in the last quarter. MGO One Seven LLC lifted its holdings in shares of Microchip Technology by 144.7% in the 3rd quarter. MGO One Seven LLC now owns 7,221 shares of the semiconductor company’s stock valued at $464,000 after buying an additional 4,270 shares during the period. Bayforest Capital Ltd purchased a new stake in shares of Microchip Technology in the third quarter valued at approximately $58,000. Finally, Forum Financial Management LP grew its holdings in Microchip Technology by 60.0% during the third quarter. Forum Financial Management LP now owns 6,964 shares of the semiconductor company’s stock worth $447,000 after acquiring an additional 2,612 shares during the period. Institutional investors and hedge funds own 91.51% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have commented on MCHP shares. Truist Financial reissued a “hold” rating and issued a $60.00 target price (down previously from $64.00) on shares of Microchip Technology in a report on Friday, November 7th. Rosenblatt Securities reissued a “buy” rating and set a $80.00 price objective on shares of Microchip Technology in a report on Tuesday, January 6th. B. Riley increased their target price on shares of Microchip Technology from $85.00 to $95.00 and gave the company a “buy” rating in a report on Monday. Morgan Stanley boosted their price target on Microchip Technology from $68.00 to $69.00 and gave the stock an “equal weight” rating in a research note on Tuesday, January 6th. Finally, Needham & Company LLC raised their price objective on Microchip Technology from $75.00 to $77.00 and gave the company a “buy” rating in a research note on Tuesday, January 6th. One research analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, six have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $78.57.

Insider Activity

In related news, CFO James Eric Bjornholt sold 4,292 shares of the firm’s stock in a transaction that occurred on Tuesday, November 25th. The shares were sold at an average price of $50.39, for a total transaction of $216,273.88. Following the sale, the chief financial officer owned 30,089 shares in the company, valued at approximately $1,516,184.71. This trade represents a 12.48% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 1.94% of the company’s stock.

Microchip Technology Price Performance

MCHP stock opened at $74.68 on Thursday. The company has a debt-to-equity ratio of 0.80, a quick ratio of 1.20 and a current ratio of 2.25. The stock’s 50 day moving average price is $62.16 and its 200 day moving average price is $65.20. The firm has a market cap of $40.36 billion, a P/E ratio of -165.96, a PEG ratio of 2.23 and a beta of 1.46. Microchip Technology Incorporated has a 1 year low of $34.13 and a 1 year high of $77.20.

Microchip Technology (NASDAQ:MCHP) last issued its quarterly earnings data on Thursday, November 6th. The semiconductor company reported $0.35 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.33 by $0.02. The business had revenue of $1.14 billion for the quarter, compared to the consensus estimate of $1.13 billion. Microchip Technology had a positive return on equity of 5.21% and a negative net margin of 4.39%.The business’s revenue was down 2.0% on a year-over-year basis. During the same period in the prior year, the business earned $0.46 earnings per share. Microchip Technology has set its Q3 2026 guidance at 0.340-0.400 EPS. On average, sell-side analysts expect that Microchip Technology Incorporated will post 1.03 earnings per share for the current fiscal year.

Microchip Technology Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, December 9th. Stockholders of record on Monday, November 24th were given a $0.455 dividend. This represents a $1.82 dividend on an annualized basis and a dividend yield of 2.4%. The ex-dividend date of this dividend was Monday, November 24th. Microchip Technology’s payout ratio is currently -404.44%.

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.