Deltec Asset Management LLC Acquires New Stake in Microchip Technology Incorporated $MCHP

Deltec Asset Management LLC acquired a new stake in shares of Microchip Technology Incorporated (NASDAQ:MCHP) in the first quarter, Holdings Channel reports. The firm acquired 10,500 shares of the semiconductor company’s stock, valued at approximately $678,000.

A number of other institutional investors have also recently modified their holdings of the stock. EFG International AG bought a new position in shares of Microchip Technology during the fourth quarter valued at $29,000. Miller Capital Partners Inc. bought a new position in Microchip Technology in the 4th quarter worth about $29,000. Reflection Asset Management bought a new position in Microchip Technology in the 4th quarter worth about $33,000. Garton & Associates Financial Advisors LLC purchased a new stake in Microchip Technology during the 4th quarter valued at about $33,000. Finally, Caitong International Asset Management Co. Ltd grew its position in Microchip Technology by 4,663.6% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 524 shares of the semiconductor company’s stock valued at $33,000 after purchasing an additional 513 shares during the last quarter. 91.51% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

MCHP has been the subject of several recent analyst reports. Truist Financial lifted their target price on shares of Microchip Technology from $69.00 to $105.00 and gave the stock a “hold” rating in a report on Friday, May 8th. Citigroup increased their price target on shares of Microchip Technology from $91.00 to $113.00 and gave the company a “buy” rating in a report on Friday, May 8th. Rosenblatt Securities raised their price target on shares of Microchip Technology from $115.00 to $120.00 and gave the company a “buy” rating in a research report on Friday, May 8th. Susquehanna boosted their price objective on shares of Microchip Technology from $95.00 to $120.00 and gave the stock a “positive” rating in a report on Friday, May 8th. Finally, Weiss Ratings raised Microchip Technology from a “hold (c-)” rating to a “hold (c)” rating in a research report on Thursday, June 4th. Four equities research analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating and seven have issued a Hold rating to the stock. According to data from MarketBeat, Microchip Technology presently has an average rating of “Moderate Buy” and an average price target of $98.18.

Microchip Technology Stock Down 2.8%

MCHP opened at $88.69 on Thursday. 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 has a 50 day moving average price of $93.67 and a 200-day moving average price of $78.91. Microchip Technology Incorporated has a twelve month low of $48.52 and a twelve month high of $105.91. The stock has a market capitalization of $48.08 billion, a price-to-earnings ratio of 422.35, a PEG ratio of 0.93 and a beta of 1.74.

Microchip Technology (NASDAQ:MCHP) last issued its earnings results on Thursday, May 7th. The semiconductor company reported $0.57 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.50 by $0.07. The company had revenue of $1.31 billion for the quarter, compared to analysts’ expectations of $1.26 billion. Microchip Technology had a net margin of 4.88% and a return on equity of 10.87%. The firm’s quarterly revenue was up 35.1% on a year-over-year basis. During the same quarter last year, the company posted $0.11 earnings per share. Microchip Technology has set its Q1 2027 guidance at 0.670-0.710 EPS. Equities research analysts forecast that Microchip Technology Incorporated will post 2.66 earnings per share 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 issued a $0.455 dividend. The ex-dividend date of this dividend was Friday, May 22nd. This represents a $1.82 annualized dividend and a dividend yield of 2.1%. Microchip Technology’s payout ratio is presently 866.67%.

Insider Transactions at Microchip Technology

In other Microchip Technology news, Director Matthew W. Chapman sold 3,000 shares of the firm’s stock in a transaction dated Thursday, May 28th. The stock was sold at an average price of $97.52, for a total value of $292,560.00. Following the transaction, the director directly owned 17,665 shares of the company’s stock, valued at approximately $1,722,690.80. This trade represents a 14.52% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Steve Sanghi sold 76,469 shares of the firm’s 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. The trade was a 0.81% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders sold 553,302 shares of company stock worth $49,673,635. 1.94% of the stock is currently owned by insiders.

Microchip Technology Company 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.