Sumitomo Mitsui Trust Group Inc. Decreases Position in Microchip Technology Incorporated $MCHP

Sumitomo Mitsui Trust Group Inc. decreased its holdings in Microchip Technology Incorporated (NASDAQ:MCHP) by 2.2% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,272,974 shares of the semiconductor company’s stock after selling 28,367 shares during the quarter. Sumitomo Mitsui Trust Group Inc. owned about 0.24% of Microchip Technology worth $82,247,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Resona Asset Management Co. Ltd. increased its position in Microchip Technology by 1.2% during the 1st quarter. Resona Asset Management Co. Ltd. now owns 162,335 shares of the semiconductor company’s stock valued at $10,349,000 after buying an additional 1,851 shares in the last quarter. CFS Investment Advisory Services LLC purchased a new stake in Microchip Technology in the first quarter valued at about $194,000. Greenwood Capital Associates LLC acquired a new stake in Microchip Technology in the first quarter worth about $1,272,000. Frank Rimerman Advisors LLC acquired a new stake in Microchip Technology in the first quarter worth about $361,000. Finally, Lmcg Investments LLC grew its stake in shares of Microchip Technology by 3.1% during the first quarter. Lmcg Investments LLC now owns 112,231 shares of the semiconductor company’s stock worth $7,251,000 after acquiring an additional 3,362 shares during the last quarter. 91.51% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities analysts have recently issued reports on the stock. UBS Group restated a “buy” rating on shares of Microchip Technology in a report on Tuesday, June 2nd. JPMorgan Chase & Co. lifted their target price on shares of Microchip Technology from $95.00 to $120.00 and gave the stock an “overweight” rating in a research note on Friday, May 8th. Susquehanna boosted their target price on shares of Microchip Technology from $95.00 to $120.00 and gave the stock a “positive” rating in a research report 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, Citigroup raised their price target on shares of Microchip Technology from $91.00 to $113.00 and gave the stock a “buy” rating in a report on Friday, May 8th. Four investment analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and seven have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $98.67.

Insider Buying and Selling at Microchip Technology

In related news, CEO Steve Sanghi sold 76,469 shares of the firm’s stock in a transaction 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 completion of the transaction, the chief executive officer owned 9,385,834 shares of the company’s stock, valued at $878,326,345.72. This trade represents a 0.81% decrease in their ownership of the stock. The sale 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, CFO James Eric Bjornholt sold 3,667 shares of the business’s stock in a transaction on 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 $2,596,428.51. This represents a 11.37% 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. Insiders sold 553,302 shares of company stock valued at $49,673,635 over the last quarter. Insiders own 1.94% of the company’s stock.

Microchip Technology Stock Performance

Shares of NASDAQ:MCHP traded up $0.33 during trading on Friday, hitting $88.59. The stock had a trading volume of 6,677,420 shares, compared to its average volume of 11,773,885. Microchip Technology Incorporated has a 12-month low of $48.52 and a 12-month high of $105.91. The stock has a market capitalization of $48.11 billion, a price-to-earnings ratio of 421.88, a price-to-earnings-growth ratio of 0.90 and a beta of 1.74. 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 stock has a 50-day simple moving average of $93.64 and a two-hundred day simple moving average of $79.82.

Microchip Technology (NASDAQ:MCHP) last released 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 firm had revenue of $1.31 billion during the quarter, compared to the consensus estimate of $1.26 billion. Microchip Technology had a return on equity of 10.87% and a net margin of 4.88%.The company’s revenue was up 35.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.11 earnings per share. Microchip Technology has set its Q1 2027 guidance at 0.670-0.710 EPS. On average, equities research analysts expect that Microchip Technology Incorporated will post 2.66 earnings per share for the current fiscal year.

Microchip Technology Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 5th. Shareholders of record on Friday, May 22nd were paid a dividend of $0.455 per share. This represents a $1.82 annualized dividend and a yield of 2.1%. The ex-dividend date was Friday, May 22nd. Microchip Technology’s payout ratio is presently 866.67%.

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.