Fort Washington Investment Advisors Inc. OH Acquires 27,127 Shares of Microchip Technology Incorporated $MCHP

Fort Washington Investment Advisors Inc. OH raised its holdings in Microchip Technology Incorporated (NASDAQ:MCHP) by 4.9% during the 1st quarter, Holdings Channel.com reports. The institutional investor owned 580,915 shares of the semiconductor company’s stock after acquiring an additional 27,127 shares during the quarter. Fort Washington Investment Advisors Inc. OH’s holdings in Microchip Technology were worth $37,533,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. EFG International AG acquired a new stake in shares of Microchip Technology during the 4th quarter worth approximately $29,000. Miller Capital Partners Inc. acquired a new position in shares of Microchip Technology during the 4th quarter valued at $29,000. Reflection Asset Management bought a new position in Microchip Technology during the fourth quarter worth $33,000. Garton & Associates Financial Advisors LLC bought a new position in Microchip Technology during the fourth quarter worth $33,000. Finally, Caitong International Asset Management Co. Ltd grew its holdings in Microchip Technology by 4,663.6% in the fourth 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 during the period. 91.51% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on MCHP shares. JPMorgan Chase & Co. lifted their price target 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. Wall Street Zen raised shares of Microchip Technology from a “hold” rating to a “buy” rating in a research report on Saturday, May 9th. Needham & Company LLC boosted their target price on Microchip Technology from $84.00 to $120.00 and gave the company a “buy” rating in a research report on Friday, May 8th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $125.00 price target on shares of Microchip Technology in a research note on Wednesday, May 13th. Finally, Citigroup increased their price target on Microchip Technology from $91.00 to $113.00 and gave the stock a “buy” rating in a report on Friday, May 8th. Four analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and seven have issued a Hold rating to the company’s stock. According to MarketBeat, Microchip Technology presently has a consensus rating of “Moderate Buy” and an average price target of $98.18.

Microchip Technology Stock Performance

MCHP opened at $87.93 on Friday. Microchip Technology Incorporated has a 1-year low of $48.52 and a 1-year high of $105.91. The company has a market cap of $47.67 billion, a price-to-earnings ratio of 418.73, a PEG ratio of 0.90 and a beta of 1.73. The company’s fifty day moving average price is $93.01 and its two-hundred day moving average price is $78.37. The company has a current ratio of 2.09, a quick ratio of 1.18 and a debt-to-equity ratio of 0.85.

Microchip Technology (NASDAQ:MCHP) last issued its quarterly earnings data on Thursday, May 7th. The semiconductor company reported $0.57 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.50 by $0.07. The firm had revenue of $1.31 billion during the quarter, compared to analysts’ expectations of $1.26 billion. Microchip Technology had a net margin of 4.88% and a return on equity of 10.87%. The business’s revenue was up 35.1% on a year-over-year basis. During the same period last year, the company earned $0.11 earnings per share. Microchip Technology has set its Q1 2027 guidance at 0.670-0.710 EPS. On average, analysts expect that Microchip Technology Incorporated will post 2.66 EPS for the current fiscal year.

Microchip Technology Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, June 5th. Stockholders 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 annualized dividend and a dividend yield of 2.1%. Microchip Technology’s dividend payout ratio is 866.67%.

Insider Buying and Selling

In related news, COO Richard J. Simoncic sold 5,000 shares of the company’s stock in a transaction on Thursday, June 4th. The stock was sold at an average price of $97.52, for a total transaction of $487,600.00. Following the completion of the sale, the chief operating officer owned 130,508 shares in the company, valued at approximately $12,727,140.16. This represents a 3.69% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Steve Sanghi sold 76,469 shares of the stock in a transaction on 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 completion of the sale, the chief executive officer directly owned 9,385,834 shares of the company’s stock, valued at $878,326,345.72. The trade was a 0.81% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders sold 553,302 shares of company stock valued at $49,673,635. 1.94% of the stock is owned by company insiders.

Microchip Technology 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.