Microchip Technology Incorporated $MCHP is Telemark Asset Management LLC’s 10th Largest Position

Telemark Asset Management LLC increased its position in Microchip Technology Incorporated (NASDAQ:MCHP) by 16.7% in the 4th quarter, HoldingsChannel reports. The fund owned 350,000 shares of the semiconductor company’s stock after buying an additional 50,000 shares during the quarter. Microchip Technology makes up about 2.2% of Telemark Asset Management LLC’s holdings, making the stock its 10th largest holding. Telemark Asset Management LLC’s holdings in Microchip Technology were worth $22,302,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. GoalVest Advisory LLC boosted its stake in Microchip Technology by 174.0% in the 4th quarter. GoalVest Advisory LLC now owns 548 shares of the semiconductor company’s stock worth $35,000 after purchasing an additional 348 shares during the period. Board of the Pension Protection Fund purchased a new stake in shares of Microchip Technology during the 4th quarter worth approximately $38,000. Kohmann Bosshard Financial Services LLC bought a new position in shares of Microchip Technology during the 4th quarter valued at approximately $38,000. State of Wyoming increased its position in shares of Microchip Technology by 78.1% during the 2nd quarter. State of Wyoming now owns 618 shares of the semiconductor company’s stock valued at $43,000 after purchasing an additional 271 shares during the last quarter. Finally, MCF Advisors LLC increased its position in shares of Microchip Technology by 25.8% during the 4th quarter. MCF Advisors LLC now owns 659 shares of the semiconductor company’s stock valued at $42,000 after purchasing an additional 135 shares during the last quarter. 91.51% of the stock is currently owned by institutional investors.

Insider Activity at Microchip Technology

In related news, CEO Steve Sanghi sold 76,469 shares of the firm’s stock in a transaction dated Friday, May 1st. The shares were sold at an average price of $93.58, for a total value of $7,155,969.02. Following the transaction, the chief executive officer directly owned 9,385,834 shares of the company’s stock, valued at approximately $878,326,345.72. This trade represents a 0.81% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, COO Richard J. Simoncic sold 5,000 shares of Microchip Technology stock in a transaction dated Friday, May 22nd. The stock was sold at an average price of $93.44, for a total value of $467,200.00. Following the completion of the sale, the chief operating officer owned 135,508 shares in the company, valued at approximately $12,661,867.52. The trade was a 3.56% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 548,302 shares of company stock worth $49,186,035 over the last 90 days. 1.94% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on the company. Weiss Ratings upgraded Microchip Technology from a “hold (c-)” rating to a “hold (c)” rating in a report on Thursday. JPMorgan Chase & Co. lifted their target price on Microchip Technology from $95.00 to $120.00 and gave the company an “overweight” rating in a research report on Friday, May 8th. Truist Financial lifted their price target on Microchip Technology from $69.00 to $105.00 and gave the company a “hold” rating in a report on Friday, May 8th. Susquehanna boosted their target price on Microchip Technology from $95.00 to $120.00 and gave the stock a “positive” rating in a research note on Friday, May 8th. Finally, UBS Group restated a “buy” rating on shares of Microchip Technology in a research note on Tuesday. Four research analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and seven have given a Hold rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $97.52.

Microchip Technology Price Performance

Shares of MCHP opened at $88.34 on Friday. The business’s 50-day moving average is $85.00 and its two-hundred day moving average is $74.17. The company has a debt-to-equity ratio of 0.85, a quick ratio of 1.18 and a current ratio of 2.09. Microchip Technology Incorporated has a fifty-two week low of $48.52 and a fifty-two week high of $105.91. The company has a market capitalization of $47.89 billion, a P/E ratio of 420.69, a P/E/G ratio of 0.93 and a beta of 1.73.

Microchip Technology (NASDAQ:MCHP) last posted its earnings results on Thursday, May 7th. The semiconductor company reported $0.57 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.50 by $0.07. Microchip Technology had a net margin of 4.88% and a return on equity of 10.87%. The business had revenue of $1.31 billion for the quarter, compared to analyst estimates of $1.26 billion. During the same period in the prior year, the company posted $0.11 EPS. The company’s revenue for the quarter was up 35.1% on a year-over-year basis. Microchip Technology has set its Q1 2027 guidance at 0.670-0.710 EPS. Research analysts predict that Microchip Technology Incorporated will post 2.58 earnings per share for the current year.

Microchip Technology Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, June 5th. Investors of record on Friday, May 22nd were paid a $0.455 dividend. The ex-dividend date of this dividend was Friday, May 22nd. This represents a $1.82 dividend on an annualized basis and a yield of 2.1%. Microchip Technology’s dividend payout ratio (DPR) is currently 866.67%.

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.