Entropy Technologies LP Raises Holdings in Microchip Technology Incorporated $MCHP

Entropy Technologies LP grew its position in Microchip Technology Incorporated (NASDAQ:MCHP) by 593.7% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 97,385 shares of the semiconductor company’s stock after purchasing an additional 83,346 shares during the quarter. Entropy Technologies LP’s holdings in Microchip Technology were worth $6,205,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in MCHP. Norges Bank purchased a new stake in shares of Microchip Technology in the 4th quarter worth $664,564,000. Barclays PLC lifted its holdings in shares of Microchip Technology by 66.5% in the 4th quarter. Barclays PLC now owns 13,996,883 shares of the semiconductor company’s stock worth $891,881,000 after buying an additional 5,590,210 shares during the period. Barrow Hanley Mewhinney & Strauss LLC lifted its holdings in shares of Microchip Technology by 25.7% in the 3rd quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 11,048,057 shares of the semiconductor company’s stock worth $709,506,000 after buying an additional 2,257,932 shares during the period. Holocene Advisors LP lifted its holdings in shares of Microchip Technology by 77.0% in the 3rd quarter. Holocene Advisors LP now owns 4,709,538 shares of the semiconductor company’s stock worth $302,447,000 after buying an additional 2,049,249 shares during the period. Finally, Rafferty Asset Management LLC lifted its holdings in shares of Microchip Technology by 41.0% in the 2nd quarter. Rafferty Asset Management LLC now owns 6,203,762 shares of the semiconductor company’s stock worth $436,559,000 after buying an additional 1,803,945 shares during the period. 91.51% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, COO Richard J. Simoncic sold 5,000 shares of the company’s stock in a transaction dated Thursday, June 4th. The stock was sold at an average price of $97.52, for a total transaction of $487,600.00. Following the transaction, the chief operating officer directly owned 130,508 shares of the company’s stock, valued at $12,727,140.16. This represents a 3.69% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CEO Steve Sanghi sold 416,581 shares of the company’s stock in a transaction dated Thursday, April 23rd. The shares were sold at an average price of $88.53, for a total value of $36,879,915.93. Following the transaction, the chief executive officer directly owned 9,495,805 shares in the company, valued at $840,663,616.65. This represents a 4.20% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders sold 553,302 shares of company stock valued at $49,673,635. 1.94% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several research analysts have recently commented on MCHP shares. Rosenblatt Securities boosted their price target on Microchip Technology from $115.00 to $120.00 and gave the stock a “buy” rating in a research report on Friday, May 8th. Susquehanna boosted their price target on Microchip Technology from $95.00 to $120.00 and gave the stock a “positive” rating in a research report on Friday, May 8th. Zacks Research raised Microchip Technology from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, May 12th. JPMorgan Chase & Co. boosted their price target on Microchip Technology from $95.00 to $120.00 and gave the stock an “overweight” rating in a research report on Friday, May 8th. Finally, Barclays boosted their price target on Microchip Technology from $80.00 to $105.00 and gave the stock an “equal weight” rating in a research report on Monday, May 11th. Four investment analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and seven have given a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $98.18.

Microchip Technology Trading Up 2.5%

MCHP opened at $95.24 on Friday. The firm has a market cap of $51.63 billion, a price-to-earnings ratio of 453.55, a PEG ratio of 1.00 and a beta of 1.73. The company has a current ratio of 2.09, a quick ratio of 1.18 and a debt-to-equity ratio of 0.85. Microchip Technology Incorporated has a 12 month low of $48.52 and a 12 month high of $105.91. The stock has a fifty day moving average price of $87.85 and a 200-day moving average price of $75.61.

Microchip Technology (NASDAQ:MCHP) last announced its earnings results on Thursday, May 7th. The semiconductor company reported $0.57 earnings per share (EPS) for the quarter, beating the consensus estimate 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 analyst estimates of $1.26 billion. During the same period in the prior year, the company posted $0.11 EPS. The firm’s quarterly revenue was up 35.1% compared to the same quarter last year. Microchip Technology has set its Q1 2027 guidance at 0.670-0.710 EPS. As a group, equities research analysts anticipate that Microchip Technology Incorporated will post 2.58 earnings per share for the current fiscal year.

Microchip Technology Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, June 5th. Investors of record on Friday, May 22nd were given a dividend of $0.455 per share. This represents a $1.82 annualized dividend and a yield of 1.9%. The ex-dividend date of this dividend was Friday, May 22nd. Microchip Technology’s dividend payout ratio is currently 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.