SEB Asset Management AB Makes New $8.57 Million Investment in Microchip Technology Incorporated $MCHP

SEB Asset Management AB purchased a new position in shares of Microchip Technology Incorporated (NASDAQ:MCHP) during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 132,667 shares of the semiconductor company’s stock, valued at approximately $8,572,000.

Several other institutional investors have also recently made changes to their positions in MCHP. Wolverine Asset Management LLC lifted its position in shares of Microchip Technology by 3,833.7% in the 4th quarter. Wolverine Asset Management LLC now owns 37,921 shares of the semiconductor company’s stock worth $2,416,000 after purchasing an additional 36,957 shares during the period. Vienna Powszechne Towarzystwo Emerytalne S.A. Vienna Insurance Group purchased a new position in Microchip Technology during the fourth quarter valued at approximately $6,691,000. Epoch Investment Partners Inc. increased its holdings in Microchip Technology by 16.5% during the fourth quarter. Epoch Investment Partners Inc. now owns 1,349,136 shares of the semiconductor company’s stock valued at $85,967,000 after buying an additional 191,339 shares during the period. Peregrine Investment Management Inc. bought a new position in Microchip Technology in the first quarter worth approximately $5,492,000. Finally, Norges Bank bought a new position in Microchip Technology in the fourth quarter worth approximately $664,564,000. Hedge funds and other institutional investors own 91.51% of the company’s stock.

Insider Transactions at Microchip Technology

In other Microchip Technology news, CFO James Eric Bjornholt sold 3,667 shares of Microchip Technology stock in a transaction dated Friday, May 22nd. The stock was 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. The trade was a 11.37% decrease in their position. The sale 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, CEO Steve Sanghi sold 76,469 shares of the business’s stock in a transaction dated 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 sale, the chief executive officer owned 9,385,834 shares in the company, valued at approximately $878,326,345.72. The trade was a 0.81% decrease in their position. 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 quarter, insiders sold 553,302 shares of company stock worth $49,673,635. 1.79% of the stock is owned by insiders.

Microchip Technology Stock Up 3.6%

NASDAQ:MCHP opened at $83.38 on Wednesday. The company has a market cap of $45.28 billion, a PE ratio of 397.07, a P/E/G ratio of 0.81 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. The company has a current ratio of 2.09, a quick ratio of 1.18 and a debt-to-equity ratio of 0.85. The company’s 50 day moving average is $91.49 and its two-hundred day moving average is $80.84.

Microchip Technology (NASDAQ:MCHP) last posted its quarterly 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. Microchip Technology had a net margin of 4.88% and a return on equity of 10.87%. The business had revenue of $1.31 billion during the quarter, compared to analysts’ expectations of $1.26 billion. During the same quarter last year, the company posted $0.11 earnings per share. The business’s quarterly revenue was up 35.1% on a year-over-year basis. Microchip Technology has set its Q1 2027 guidance at 0.670-0.710 EPS. Analysts anticipate that Microchip Technology Incorporated will post 2.69 EPS 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 2.2%. Microchip Technology’s dividend payout ratio (DPR) is 866.67%.

Wall Street Analyst Weigh In

A number of analysts have weighed in on the company. Zacks Research upgraded Microchip Technology from a “hold” rating to a “strong-buy” rating in a report on Tuesday, May 12th. Citigroup boosted their price target on Microchip Technology from $91.00 to $113.00 and gave the stock a “buy” rating in a research report on Friday, May 8th. Rosenblatt Securities upped their price objective on Microchip Technology from $115.00 to $120.00 and gave the stock a “buy” rating in a research note on Friday, May 8th. TD Cowen dropped their price objective on Microchip Technology from $105.00 to $90.00 and set a “hold” rating on the stock in a research report on Monday, July 13th. Finally, Weiss Ratings upgraded shares of Microchip Technology from a “hold (c-)” rating to a “hold (c)” rating in a report on Thursday, June 4th. Four research analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and seven have issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $99.76.

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.