QRG Capital Management Inc. Has $3.58 Million Position in Microchip Technology Incorporated $MCHP

QRG Capital Management Inc. trimmed its position in shares of Microchip Technology Incorporated (NASDAQ:MCHP) by 33.2% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 55,796 shares of the semiconductor company’s stock after selling 27,793 shares during the quarter. QRG Capital Management Inc.’s holdings in Microchip Technology were worth $3,583,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Vanguard Group Inc. raised its holdings in Microchip Technology by 1.8% in the 2nd quarter. Vanguard Group Inc. now owns 70,568,004 shares of the semiconductor company’s stock valued at $4,965,870,000 after buying an additional 1,265,390 shares during the last quarter. State Street Corp increased its position in Microchip Technology by 8.5% in the 2nd quarter. State Street Corp now owns 31,888,814 shares of the semiconductor company’s stock valued at $2,244,016,000 after acquiring an additional 2,489,258 shares during the period. Invesco Ltd. increased its position in Microchip Technology by 10.4% in the 2nd quarter. Invesco Ltd. now owns 18,452,546 shares of the semiconductor company’s stock valued at $1,298,506,000 after acquiring an additional 1,745,515 shares during the period. Geode Capital Management LLC raised its stake in shares of Microchip Technology by 2.4% during the second quarter. Geode Capital Management LLC now owns 14,842,341 shares of the semiconductor company’s stock valued at $1,040,544,000 after acquiring an additional 343,210 shares during the last quarter. Finally, Boston Partners lifted its holdings in shares of Microchip Technology by 38.2% during the second quarter. Boston Partners now owns 14,827,447 shares of the semiconductor company’s stock worth $1,041,868,000 after purchasing an additional 4,101,034 shares during the period. 91.51% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other Microchip Technology news, CFO James Eric Bjornholt sold 4,292 shares of Microchip Technology stock in a transaction on Tuesday, November 25th. The shares were sold at an average price of $50.39, for a total value of $216,273.88. Following the completion of the sale, the chief financial officer directly owned 30,089 shares of the company’s stock, valued at approximately $1,516,184.71. The trade was a 12.48% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 1.94% of the company’s stock.

Analysts Set New Price Targets

A number of research firms recently weighed in on MCHP. Wolfe Research set a $85.00 price objective on Microchip Technology in a report on Tuesday, January 6th. Mizuho increased their price target on Microchip Technology from $80.00 to $83.00 and gave the company an “outperform” rating in a research note on Friday, January 9th. TD Cowen cut their price objective on Microchip Technology from $65.00 to $60.00 and set a “hold” rating on the stock in a research note on Friday, November 7th. Susquehanna reduced their target price on Microchip Technology from $85.00 to $75.00 and set a “positive” rating on the stock in a report on Friday, November 7th. Finally, JPMorgan Chase & Co. increased their target price on shares of Microchip Technology from $77.00 to $85.00 and gave the company an “overweight” rating in a research report on Tuesday, January 6th. One research analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating, six have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $79.38.

Microchip Technology Stock Up 0.3%

Shares of Microchip Technology stock opened at $74.70 on Monday. The stock’s 50-day moving average is $62.83 and its 200 day moving average is $65.19. Microchip Technology Incorporated has a one year low of $34.13 and a one year high of $77.20. The firm has a market cap of $40.37 billion, a price-to-earnings ratio of -166.00, a PEG ratio of 2.25 and a beta of 1.46. The company has a debt-to-equity ratio of 0.80, a current ratio of 2.25 and a quick ratio of 1.20.

Microchip Technology (NASDAQ:MCHP) last issued its quarterly earnings results on Thursday, November 6th. The semiconductor company reported $0.35 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.33 by $0.02. The firm had revenue of $1.14 billion for the quarter, compared to analyst estimates of $1.13 billion. Microchip Technology had a positive return on equity of 5.21% and a negative net margin of 4.39%.The company’s revenue was down 2.0% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.46 earnings per share. Microchip Technology has set its Q3 2026 guidance at 0.340-0.400 EPS. Equities research analysts anticipate that Microchip Technology Incorporated will post 1.03 EPS for the current year.

Microchip Technology Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, December 9th. Investors of record on Monday, November 24th were paid a dividend of $0.455 per share. The ex-dividend date of this dividend was Monday, November 24th. This represents a $1.82 annualized dividend and a yield of 2.4%. Microchip Technology’s dividend payout ratio is currently -404.44%.

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.