Sterling Capital Management LLC Has $1.23 Million Position in Microchip Technology Incorporated $MCHP

Sterling Capital Management LLC trimmed its stake in Microchip Technology Incorporated (NASDAQ:MCHP) by 41.5% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 19,008 shares of the semiconductor company’s stock after selling 13,486 shares during the quarter. Sterling Capital Management LLC’s holdings in Microchip Technology were worth $1,228,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Norges Bank bought a new position in shares of Microchip Technology during the 4th quarter worth about $664,564,000. Barclays PLC raised its stake in Microchip Technology by 66.5% during the 4th quarter. Barclays PLC now owns 13,996,883 shares of the semiconductor company’s stock worth $891,881,000 after buying an additional 5,590,210 shares during the period. Barrow Hanley Mewhinney & Strauss LLC raised its stake in Microchip Technology by 25.7% during the 3rd quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 11,048,057 shares of the semiconductor company’s stock worth $709,506,000 after buying an additional 2,257,932 shares during the period. Holocene Advisors LP boosted its holdings in Microchip Technology by 77.0% in the third quarter. Holocene Advisors LP now owns 4,709,538 shares of the semiconductor company’s stock worth $302,447,000 after acquiring an additional 2,049,249 shares in the last quarter. Finally, Rafferty Asset Management LLC grew its stake in Microchip Technology by 41.0% in the second quarter. Rafferty Asset Management LLC now owns 6,203,762 shares of the semiconductor company’s stock valued at $436,559,000 after acquiring an additional 1,803,945 shares during the period. 91.51% of the stock is owned by institutional investors.

Microchip Technology Stock Up 1.3%

MCHP stock opened at $89.06 on Tuesday. Microchip Technology Incorporated has a twelve month low of $48.52 and a twelve month high of $105.91. The company has a quick ratio of 1.18, a current ratio of 2.09 and a debt-to-equity ratio of 0.85. The stock’s 50 day moving average is $93.25 and its 200-day moving average is $78.60. The firm has a market capitalization of $48.28 billion, a PE ratio of 424.12, a P/E/G ratio of 0.90 and a beta of 1.73.

Microchip Technology (NASDAQ:MCHP) last announced its quarterly 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. The business had revenue of $1.31 billion during the quarter, compared to the consensus estimate of $1.26 billion. Microchip Technology had a return on equity of 10.87% and a net margin of 4.88%.Microchip Technology’s revenue was up 35.1% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.11 earnings per share. Microchip Technology has set its Q1 2027 guidance at 0.670-0.710 EPS. Sell-side analysts expect that Microchip Technology Incorporated will post 2.66 EPS for the current fiscal year.

Microchip Technology Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, June 5th. Stockholders of record on Friday, May 22nd were issued a $0.455 dividend. The ex-dividend date was Friday, May 22nd. This represents a $1.82 annualized dividend and a dividend yield of 2.0%. Microchip Technology’s dividend payout ratio is currently 866.67%.

Wall Street Analyst Weigh In

MCHP has been the subject of several recent research reports. Citigroup boosted their price objective on Microchip Technology from $91.00 to $113.00 and gave the company a “buy” rating in a report on Friday, May 8th. Weiss Ratings raised shares of Microchip Technology from a “hold (c-)” rating to a “hold (c)” rating in a research report on Thursday, June 4th. Needham & Company LLC boosted their price target on shares of Microchip Technology from $84.00 to $120.00 and gave the company a “buy” rating in a research note on Friday, May 8th. Susquehanna upped their price objective on shares of Microchip Technology from $95.00 to $120.00 and gave the stock a “positive” rating in a report on Friday, May 8th. Finally, UBS Group reaffirmed a “buy” rating on shares of Microchip Technology in a research note on Tuesday, June 2nd. Four research analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and seven have assigned a Hold rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $98.18.

Insider Activity

In other Microchip Technology news, Director Matthew W. Chapman sold 3,000 shares of the company’s stock in a transaction dated Thursday, May 28th. The shares were sold at an average price of $97.52, for a total value of $292,560.00. Following the completion of the sale, the director directly owned 17,665 shares of the company’s stock, valued at approximately $1,722,690.80. This represents a 14.52% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CFO James Eric Bjornholt sold 3,667 shares of the stock in a transaction dated Friday, May 22nd. The shares were sold at an average price of $90.87, for a total transaction of $333,220.29. Following the completion of the sale, the chief financial officer owned 28,573 shares of the company’s stock, valued at approximately $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. In the last three months, insiders have sold 553,302 shares of company stock worth $49,673,635. Company insiders own 1.94% of the company’s stock.

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.