Sierra Summit Advisors LLC Acquires 15,547 Shares of Microchip Technology Incorporated $MCHP

Sierra Summit Advisors LLC raised its holdings in Microchip Technology Incorporated (NASDAQ:MCHP) by 90.4% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 32,748 shares of the semiconductor company’s stock after buying an additional 15,547 shares during the period. Sierra Summit Advisors LLC’s holdings in Microchip Technology were worth $2,103,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Winnow Wealth LLC bought a new position in Microchip Technology in the 3rd quarter valued at about $25,000. Root Financial Partners LLC purchased a new stake in shares of Microchip Technology in the third quarter worth approximately $28,000. Salomon & Ludwin LLC raised its stake in shares of Microchip Technology by 219.3% in the third 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 last quarter. Quent Capital LLC bought a new position in shares of Microchip Technology in the third quarter valued at approximately $32,000. Finally, E Fund Management Hong Kong Co. Ltd. boosted its position in shares of Microchip Technology by 106.8% during the third quarter. E Fund Management Hong Kong Co. Ltd. now owns 517 shares of the semiconductor company’s stock valued at $33,000 after buying an additional 267 shares during the last quarter. 91.51% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of research firms recently commented on MCHP. Stifel Nicolaus set a $90.00 price target on Microchip Technology in a research report on Friday, February 6th. Rosenblatt Securities increased their target price on shares of Microchip Technology from $80.00 to $115.00 and gave the company a “buy” rating in a report on Friday, February 6th. Jefferies Financial Group restated a “hold” rating on shares of Microchip Technology in a report on Wednesday, February 4th. Truist Financial upped their price objective on shares of Microchip Technology from $60.00 to $68.00 and gave the stock a “hold” rating in a research report on Friday, February 6th. Finally, TD Cowen dropped their target price on shares of Microchip Technology from $65.00 to $60.00 and set a “hold” rating on the stock in a research report on Friday, November 7th. Three analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and eight have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $86.00.

Microchip Technology Stock Performance

NASDAQ MCHP opened at $74.64 on Friday. The company has a market capitalization of $40.39 billion, a PE ratio of -257.38, a price-to-earnings-growth ratio of 1.88 and a beta of 1.46. The company has a debt-to-equity ratio of 0.82, a quick ratio of 1.16 and a current ratio of 2.16. Microchip Technology Incorporated has a 52-week low of $34.13 and a 52-week high of $83.35. The company has a 50-day simple moving average of $73.81 and a 200 day simple moving average of $66.59.

Microchip Technology (NASDAQ:MCHP) last released its earnings results on Thursday, February 5th. The semiconductor company reported $0.44 earnings per share 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 company’s revenue was up 15.6% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.20 EPS. Microchip Technology has set its Q4 2026 guidance at 0.480-0.520 EPS. On average, research analysts predict that Microchip Technology Incorporated will post 1.03 EPS for the current year.

Microchip Technology Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, March 10th. Shareholders of record on Monday, February 23rd will be given a $0.455 dividend. This represents a $1.82 dividend on an annualized basis and a yield of 2.4%. The ex-dividend date of this dividend is Monday, February 23rd. Microchip Technology’s dividend payout ratio (DPR) is currently -627.59%.

Insider Activity

In related news, CEO Steve Sanghi sold 98,814 shares of Microchip Technology stock in a transaction dated Wednesday, January 28th. The stock was sold at an average price of $80.55, for a total value of $7,959,467.70. Following the completion of the sale, the chief executive officer owned 9,922,319 shares of the company’s stock, valued at approximately $799,242,795.45. This trade represents a 0.99% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 1.94% of the stock is currently owned by insiders.

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.