Castleark Management LLC Boosts Position in Microchip Technology Incorporated $MCHP

Castleark Management LLC boosted its position in shares of Microchip Technology Incorporated (NASDAQ:MCHP) by 9.1% during the fourth quarter, Holdings Channel reports. The firm owned 515,494 shares of the semiconductor company’s stock after buying an additional 43,150 shares during the quarter. Microchip Technology comprises approximately 1.0% of Castleark Management LLC’s holdings, making the stock its 24th biggest position. Castleark Management LLC’s holdings in Microchip Technology were worth $32,847,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Advisors Asset Management Inc. increased its stake in Microchip Technology by 16.6% in the fourth quarter. Advisors Asset Management Inc. now owns 179,114 shares of the semiconductor company’s stock valued at $11,413,000 after purchasing an additional 25,460 shares during the last quarter. Rench Wealth Management Inc. increased its stake in Microchip Technology by 2.0% during the fourth quarter. Rench Wealth Management Inc. now owns 92,203 shares of the semiconductor company’s stock worth $5,875,000 after acquiring an additional 1,812 shares during the last quarter. Northwest & Ethical Investments L.P. acquired a new stake in Microchip Technology during the fourth quarter worth about $259,000. Hamilton Point Investment Advisors LLC increased its stake in Microchip Technology by 17.6% during the fourth quarter. Hamilton Point Investment Advisors LLC now owns 6,696 shares of the semiconductor company’s stock worth $427,000 after acquiring an additional 1,002 shares during the last quarter. Finally, Rossby Financial LCC increased its stake in Microchip Technology by 41.1% during the fourth quarter. Rossby Financial LCC now owns 628 shares of the semiconductor company’s stock worth $40,000 after acquiring an additional 183 shares during the last quarter. 91.51% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, Director Matthew W. Chapman sold 3,000 shares of the stock in a transaction that occurred on Thursday, May 28th. The stock was sold at an average price of $97.52, for a total transaction of $292,560.00. Following the sale, the director directly owned 17,665 shares in the company, valued at approximately $1,722,690.80. This represents a 14.52% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO James Eric Bjornholt sold 3,667 shares of the stock in a transaction that occurred on Friday, May 22nd. The stock was sold at an average price of $90.87, for a total value of $333,220.29. Following the sale, the chief financial officer owned 28,573 shares in the company, valued at $2,596,428.51. The trade was a 11.37% decrease in their ownership of the stock. 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. Insiders have sold a total of 553,302 shares of company stock valued at $49,673,635 over the last quarter. Company insiders own 1.94% of the company’s stock.

Microchip Technology Stock Up 2.5%

Shares of Microchip Technology stock opened at $95.24 on Friday. 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 business’s 50 day simple moving average is $87.85 and its 200-day simple moving average is $75.61. The stock has a market capitalization of $51.63 billion, a price-to-earnings ratio of 453.55, a PEG ratio of 0.98 and a beta of 1.73. Microchip Technology Incorporated has a twelve month low of $48.52 and a twelve month high of $105.91.

Microchip Technology (NASDAQ:MCHP) last announced its quarterly earnings results on Thursday, May 7th. The semiconductor company reported $0.57 earnings per share 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 analysts’ expectations of $1.26 billion. Microchip Technology had a return on equity of 10.87% and a net margin of 4.88%.The business’s quarterly revenue was up 35.1% on a year-over-year basis. 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. Equities research analysts forecast that Microchip Technology Incorporated will post 2.58 earnings per share for the current year.

Microchip Technology Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, June 5th. Stockholders of record on Friday, May 22nd were given a dividend of $0.455 per share. This represents a $1.82 dividend on an annualized basis and a dividend yield of 1.9%. The ex-dividend date was Friday, May 22nd. Microchip Technology’s dividend payout ratio is presently 866.67%.

Wall Street Analysts Forecast Growth

Several brokerages have commented on MCHP. Wall Street Zen upgraded Microchip Technology from a “hold” rating to a “buy” rating in a research note on Saturday, May 9th. UBS Group restated a “buy” rating on shares of Microchip Technology in a research note on Tuesday, June 2nd. JPMorgan Chase & Co. upped their price target on Microchip Technology from $95.00 to $120.00 and gave the stock an “overweight” rating in a research note on Friday, May 8th. Cantor Fitzgerald restated an “overweight” rating and set a $125.00 price target on shares of Microchip Technology in a research note on Wednesday, May 13th. Finally, Rosenblatt Securities upped their price target on Microchip Technology from $115.00 to $120.00 and gave the stock a “buy” rating in a research note on Friday, May 8th. Four investment analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and seven have issued a Hold rating to the stock. According to data from MarketBeat.com, Microchip Technology has a consensus rating of “Moderate Buy” and an average target price of $98.18.

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.