Sei Investments Co. Sells 8,860 Shares of Microchip Technology Incorporated $MCHP

Sei Investments Co. reduced its stake in shares of Microchip Technology Incorporated (NASDAQ:MCHP) by 1.0% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 901,680 shares of the semiconductor company’s stock after selling 8,860 shares during the quarter. Sei Investments Co.’s holdings in Microchip Technology were worth $58,258,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. Mizuho Markets Cayman LP lifted its position in Microchip Technology by 1.0% in the first quarter. Mizuho Markets Cayman LP now owns 1,550,440 shares of the semiconductor company’s stock worth $100,174,000 after buying an additional 15,080 shares during the last quarter. First Citizens Bank & Trust Co. increased its position in Microchip Technology by 5.2% during the first quarter. First Citizens Bank & Trust Co. now owns 49,588 shares of the semiconductor company’s stock valued at $3,204,000 after acquiring an additional 2,463 shares during the last quarter. PNC Financial Services Group Inc. raised its stake in shares of Microchip Technology by 1.6% in the first quarter. PNC Financial Services Group Inc. now owns 184,981 shares of the semiconductor company’s stock valued at $11,952,000 after acquiring an additional 2,905 shares during the period. Oslo Pensjonsforsikring AS purchased a new stake in shares of Microchip Technology in the first quarter valued at $89,000. Finally, Andra AP fonden bought a new stake in shares of Microchip Technology in the 1st quarter worth about $307,000. 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 the firm’s 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 transaction, 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 transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Steve Sanghi sold 76,469 shares of Microchip Technology stock in a transaction that occurred on Friday, May 1st. The shares were sold at an average price of $93.58, for a total transaction of $7,155,969.02. Following the transaction, the chief executive officer directly owned 9,385,834 shares in the company, valued at approximately $878,326,345.72. The trade was a 0.81% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 136,721 shares of company stock worth $12,793,719 in the last ninety days. 1.79% of the stock is owned by company insiders.

Microchip Technology Trading Down 3.1%

Shares of MCHP opened at $78.86 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 50-day moving average of $90.64 and a 200 day moving average of $81.09. The firm has a market capitalization of $42.82 billion, a price-to-earnings ratio of 375.54, a PEG ratio of 0.79 and a beta of 1.74. The company has a debt-to-equity ratio of 0.85, a current ratio of 2.09 and a quick ratio of 1.18.

Microchip Technology (NASDAQ:MCHP) last issued its earnings results on Thursday, May 7th. The semiconductor company reported $0.57 EPS for the quarter, topping analysts’ consensus estimates of $0.50 by $0.07. The business had revenue of $1.31 billion for the quarter, compared to the consensus estimate 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% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.11 EPS. Microchip Technology has set its Q1 2027 guidance at 0.670-0.710 EPS. On average, research analysts expect that Microchip Technology Incorporated will post 2.7 EPS for the current year.

Microchip Technology Dividend Announcement

The company also recently disclosed 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 of this dividend was Friday, May 22nd. This represents a $1.82 annualized dividend and a yield of 2.3%. Microchip Technology’s dividend payout ratio is 866.67%.

Analysts Set New Price Targets

A number of research firms recently commented on MCHP. Barclays lifted their price target on shares of Microchip Technology from $80.00 to $105.00 and gave the stock an “equal weight” rating in a research note on Monday, May 11th. Zacks Research raised shares of Microchip Technology from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, May 12th. TD Cowen dropped their target price on Microchip Technology from $105.00 to $90.00 and set a “hold” rating for the company in a research report on Monday, July 13th. Susquehanna upped their target price on Microchip Technology from $95.00 to $120.00 and gave the company a “positive” rating in a research note on Friday, May 8th. 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 equities 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 stock. According to MarketBeat.com, Microchip Technology currently has a consensus rating of “Moderate Buy” and a consensus target price of $99.76.

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.