Castleark Management LLC Reduces Holdings in Microchip Technology Incorporated $MCHP

Castleark Management LLC trimmed its stake in shares of Microchip Technology Incorporated (NASDAQ:MCHP) by 60.3% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 204,874 shares of the semiconductor company’s stock after selling 310,620 shares during the quarter. Castleark Management LLC’s holdings in Microchip Technology were worth $13,237,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also bought and sold shares of MCHP. Resonant Capital Advisors LLC boosted its stake in shares of Microchip Technology by 0.9% during the first quarter. Resonant Capital Advisors LLC now owns 12,542 shares of the semiconductor company’s stock valued at $810,000 after purchasing an additional 118 shares during the period. MCF Advisors LLC increased its stake in shares of Microchip Technology by 25.8% in the fourth quarter. MCF Advisors LLC now owns 659 shares of the semiconductor company’s stock worth $42,000 after buying an additional 135 shares during the period. Gagnon Securities LLC increased its stake in shares of Microchip Technology by 0.5% in the fourth quarter. Gagnon Securities LLC now owns 27,162 shares of the semiconductor company’s stock worth $1,731,000 after buying an additional 137 shares during the period. Evelyn Partners Investment Management LLP raised its holdings in Microchip Technology by 1.5% during the 4th quarter. Evelyn Partners Investment Management LLP now owns 9,300 shares of the semiconductor company’s stock valued at $593,000 after buying an additional 140 shares during the last quarter. Finally, Millstone Evans Group LLC raised its holdings in Microchip Technology by 23.7% during the 4th quarter. Millstone Evans Group LLC now owns 742 shares of the semiconductor company’s stock valued at $47,000 after buying an additional 142 shares during the last quarter. 91.51% of the stock is owned by hedge funds and other institutional investors.

Microchip Technology Stock Performance

NASDAQ:MCHP opened at $78.86 on Monday. 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 firm’s fifty day simple moving average is $90.64 and its 200 day simple moving average is $81.18. The stock has a market cap of $42.82 billion, a P/E ratio of 375.54, a price-to-earnings-growth ratio of 0.79 and a beta of 1.74. Microchip Technology Incorporated has a twelve month low of $48.52 and a twelve month high of $105.91.

Microchip Technology (NASDAQ:MCHP) last issued its quarterly earnings data on Thursday, May 7th. The semiconductor company reported $0.57 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 analyst estimates of $1.26 billion. Microchip Technology had a net margin of 4.88% and a return on equity of 10.87%. The company’s revenue for the quarter was up 35.1% on a year-over-year basis. During the same period in the prior year, the business earned $0.11 EPS. Microchip Technology has set its Q1 2027 guidance at 0.670-0.710 EPS. As a group, research analysts predict that Microchip Technology Incorporated will post 2.7 EPS for the current year.

Microchip Technology Announces Dividend

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. This represents a $1.82 dividend on an annualized basis and a yield of 2.3%. The ex-dividend date of this dividend was Friday, May 22nd. Microchip Technology’s dividend payout ratio is presently 866.67%.

Wall Street Analyst Weigh In

MCHP has been the topic of a number of recent analyst reports. Weiss Ratings lowered shares of Microchip Technology from a “hold (c)” rating to a “hold (c-)” rating in a report on Friday. Wells Fargo & Company lowered their price objective on shares of Microchip Technology from $95.00 to $88.00 and set an “equal weight” rating for the company in a research note on Monday, July 20th. Zacks Research upgraded shares of Microchip Technology from a “hold” rating to a “strong-buy” rating in a report on Tuesday, May 12th. Susquehanna raised 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, Cantor Fitzgerald restated an “overweight” rating and set a $125.00 price target on shares of Microchip Technology in a report on Wednesday, May 13th. Four analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and seven have issued a Hold rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $99.76.

Insider Activity at Microchip Technology

In other Microchip Technology news, CEO Steve Sanghi sold 76,469 shares of Microchip Technology stock in a transaction that occurred on Friday, May 1st. The stock was sold at an average price of $93.58, for a total transaction of $7,155,969.02. Following the sale, the chief executive officer directly owned 9,385,834 shares of the company’s stock, valued at approximately $878,326,345.72. The trade was a 0.81% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Matthew W. Chapman sold 3,000 shares of Microchip Technology stock in a transaction that occurred on Thursday, May 28th. The shares were sold at an average price of $97.52, for a total value of $292,560.00. Following the sale, the director directly owned 17,665 shares in the company, valued at approximately $1,722,690.80. The trade was a 14.52% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last ninety days, insiders have sold 136,721 shares of company stock valued at $12,793,719. 1.79% of the stock is currently owned by corporate insiders.

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.