Microchip Technology Incorporated $MCHP Shares Purchased by Magnetar Financial LLC

Magnetar Financial LLC lifted its holdings in Microchip Technology Incorporated (NASDAQ:MCHP) by 146.1% in the fourth quarter, Holdings Channel reports. The firm owned 70,089 shares of the semiconductor company’s stock after buying an additional 41,605 shares during the period. Magnetar Financial LLC’s holdings in Microchip Technology were worth $4,466,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in MCHP. Caitong International Asset Management Co. Ltd boosted its position in shares of Microchip Technology by 4,663.6% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 524 shares of the semiconductor company’s stock worth $33,000 after purchasing an additional 513 shares in the last quarter. GoalVest Advisory LLC boosted its position in shares of 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 in the last quarter. Board of the Pension Protection Fund acquired a new stake in shares of Microchip Technology in the 4th quarter worth $38,000. Kohmann Bosshard Financial Services LLC acquired a new stake in shares of Microchip Technology in the 4th quarter worth $38,000. Finally, Rossby Financial LCC boosted its position in shares of Microchip Technology by 41.1% in the 4th quarter. Rossby Financial LCC now owns 628 shares of the semiconductor company’s stock worth $40,000 after purchasing an additional 183 shares in the last quarter. Institutional investors and hedge funds own 91.51% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the company. Truist Financial raised their price objective on Microchip Technology from $69.00 to $105.00 and gave the stock a “hold” rating in a research report on Friday, May 8th. Barclays raised their price objective on Microchip Technology from $80.00 to $105.00 and gave the stock an “equal weight” rating in a research report on Monday, May 11th. Rosenblatt Securities raised their price objective on Microchip Technology from $115.00 to $120.00 and gave the stock a “buy” rating in a research report on Friday, May 8th. Citigroup raised their price objective on Microchip Technology from $91.00 to $113.00 and gave the stock a “buy” rating in a research report on Friday, May 8th. Finally, Weiss Ratings raised Microchip Technology from a “hold (c-)” rating to a “hold (c)” rating in a research report on Thursday, June 4th. Four research analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and seven have issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $98.18.

Insider Transactions at Microchip Technology

In related news, Director Matthew W. Chapman sold 10,000 shares of the firm’s stock in a transaction on Friday, May 15th. The stock was sold at an average price of $95.48, for a total value of $954,800.00. Following the completion of the transaction, the director owned 20,665 shares in the company, valued at $1,973,094.20. This trade represents a 32.61% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO James Eric Bjornholt sold 3,667 shares of the firm’s stock in a transaction on Friday, May 22nd. The stock was sold at an average price of $90.87, for a total value of $333,220.29. Following the completion of the transaction, the chief financial officer owned 28,573 shares of the company’s stock, valued at $2,596,428.51. This trade represents a 11.37% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders have sold 553,302 shares of company stock worth $49,673,635. Insiders own 1.94% of the company’s stock.

Microchip Technology Stock Performance

Shares of MCHP stock opened at $95.63 on Wednesday. The firm has a market capitalization of $51.84 billion, a price-to-earnings ratio of 455.40, a price-to-earnings-growth ratio of 1.06 and a beta of 1.73. The company has a debt-to-equity ratio of 0.85, a current ratio of 2.09 and a quick ratio of 1.18. The business has a fifty day moving average of $89.15 and a 200 day moving average of $76.43. Microchip Technology Incorporated has a 1 year low of $48.52 and a 1 year high of $105.91.

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

Microchip Technology Announces Dividend

The company also recently announced 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 was Friday, May 22nd. This represents a $1.82 dividend on an annualized basis and a yield of 1.9%. Microchip Technology’s dividend payout ratio (DPR) is 866.67%.

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.