Weiss Asset Management LP Grows Position in Microchip Technology Incorporated $MCHP

Weiss Asset Management LP raised its stake in shares of Microchip Technology Incorporated (NASDAQ:MCHP) by 437.9% in the 1st quarter, according to its most recent disclosure with the SEC. The firm owned 18,600 shares of the semiconductor company’s stock after purchasing an additional 15,142 shares during the period. Weiss Asset Management LP’s holdings in Microchip Technology were worth $1,202,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. OMERS ADMINISTRATION Corp raised its stake in Microchip Technology by 30.2% during the 1st quarter. OMERS ADMINISTRATION Corp now owns 25,163 shares of the semiconductor company’s stock worth $1,626,000 after acquiring an additional 5,831 shares during the period. Lombard Odier Asset Management Switzerland SA purchased a new stake in shares of Microchip Technology in the first quarter worth $1,705,000. Waverly Advisors LLC purchased a new stake in shares of Microchip Technology in the first quarter worth $341,000. Wealth Alliance LLC bought a new stake in shares of Microchip Technology during the 1st quarter valued at $260,000. Finally, Unisphere Establishment purchased a new position in shares of Microchip Technology during the 1st quarter valued at $12,373,000. Hedge funds and other institutional investors own 91.51% of the company’s stock.

Analyst Ratings Changes

Several brokerages recently weighed in on MCHP. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $125.00 target price on shares of Microchip Technology in a report on Wednesday, May 13th. TD Cowen lowered 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. Barclays upped their price objective on Microchip Technology from $80.00 to $105.00 and gave the stock an “equal weight” rating in a research note on Monday, May 11th. Weiss Ratings cut Microchip Technology from a “hold (c)” rating to a “hold (c-)” rating in a research report on Friday. Finally, Wells Fargo & Company decreased their target price on Microchip Technology from $95.00 to $88.00 and set an “equal weight” rating on the stock in a research note on Monday, July 20th. Four analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and seven have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $99.76.

Insider Transactions at Microchip Technology

In other news, CEO Steve Sanghi sold 76,469 shares of the 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 completion of the transaction, the chief executive officer directly owned 9,385,834 shares in the company, valued at approximately $878,326,345.72. This represents a 0.81% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, COO Richard J. Simoncic sold 5,000 shares of the stock in a transaction on Thursday, June 4th. The shares were sold at an average price of $97.52, for a total transaction of $487,600.00. Following the transaction, the chief operating officer owned 130,508 shares of the company’s stock, valued at $12,727,140.16. This trade represents a 3.69% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 136,721 shares of company stock valued at $12,793,719 over the last 90 days. Insiders own 1.79% of the company’s stock.

Microchip Technology Stock Down 1.2%

MCHP opened at $77.90 on Tuesday. The company has a market capitalization of $42.30 billion, a PE ratio of 370.97, a price-to-earnings-growth ratio of 0.79 and a beta of 1.74. The firm has a 50-day simple moving average of $90.35 and a two-hundred day simple moving average of $81.21. The company has a quick ratio of 1.18, a current ratio of 2.09 and a debt-to-equity ratio of 0.85. Microchip Technology Incorporated has a 52 week low of $48.52 and a 52 week high of $105.91.

Microchip Technology (NASDAQ:MCHP) last posted 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. Microchip Technology had a return on equity of 10.87% and a net margin of 4.88%.The company had revenue of $1.31 billion for the quarter, compared to the consensus estimate of $1.26 billion. During the same period in the previous year, the business earned $0.11 earnings per share. The firm’s revenue for the quarter 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 forecast that Microchip Technology Incorporated will post 2.7 earnings per share for the current fiscal year.

Microchip Technology Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, June 5th. Stockholders of record on Friday, May 22nd were issued a dividend of $0.455 per share. This represents a $1.82 annualized dividend and a dividend yield of 2.3%. The ex-dividend date of this dividend was Friday, May 22nd. Microchip Technology’s dividend payout ratio is 866.67%.

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.