Swiss National Bank Buys 107,200 Shares of Microchip Technology Incorporated $MCHP

Swiss National Bank boosted its position in Microchip Technology Incorporated (NASDAQ:MCHP) by 7.2% during the 1st quarter, Holdings Channel.com reports. The firm owned 1,586,114 shares of the semiconductor company’s stock after purchasing an additional 107,200 shares during the period. Swiss National Bank’s holdings in Microchip Technology were worth $102,479,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also bought and sold shares of the company. Resonant Capital Advisors LLC raised its stake in shares of Microchip Technology by 0.9% in the first quarter. Resonant Capital Advisors LLC now owns 12,542 shares of the semiconductor company’s stock valued at $810,000 after buying an additional 118 shares during the period. MCF Advisors LLC grew its stake in shares of Microchip Technology by 25.8% during the 4th quarter. MCF Advisors LLC now owns 659 shares of the semiconductor company’s stock worth $42,000 after acquiring an additional 135 shares during the period. Gagnon Securities LLC grew its stake in shares of Microchip Technology by 0.5% during the 4th quarter. Gagnon Securities LLC now owns 27,162 shares of the semiconductor company’s stock worth $1,731,000 after acquiring an additional 137 shares during the period. Evelyn Partners Investment Management LLP increased its holdings in Microchip Technology by 1.5% in the 4th quarter. Evelyn Partners Investment Management LLP now owns 9,300 shares of the semiconductor company’s stock worth $593,000 after acquiring an additional 140 shares during the last quarter. Finally, Millstone Evans Group LLC increased its holdings in Microchip Technology by 23.7% in the 4th quarter. Millstone Evans Group LLC now owns 742 shares of the semiconductor company’s stock worth $47,000 after acquiring an additional 142 shares during the last quarter. 91.51% of the stock is owned by hedge funds and other institutional investors.

Microchip Technology Price Performance

Shares of NASDAQ MCHP opened at $80.51 on Tuesday. The firm has a market capitalization of $43.72 billion, a P/E ratio of 383.40, a P/E/G ratio of 0.82 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’s 50-day simple moving average is $91.78 and its two-hundred day simple moving average is $80.70. Microchip Technology Incorporated has a twelve month low of $48.52 and a twelve month high of $105.91.

Microchip Technology (NASDAQ:MCHP) last issued its quarterly earnings data on Thursday, May 7th. The semiconductor company reported $0.57 EPS for the quarter, topping the consensus estimate of $0.50 by $0.07. The company had revenue of $1.31 billion during the quarter, compared to analyst estimates of $1.26 billion. Microchip Technology had a return on equity of 10.87% and a net margin of 4.88%.Microchip Technology’s revenue was up 35.1% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.11 earnings per share. Microchip Technology has set its Q1 2027 guidance at 0.670-0.710 EPS. As a group, equities analysts anticipate that Microchip Technology Incorporated will post 2.69 EPS for the current fiscal year.

Microchip Technology Announces Dividend

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

Insider Activity at Microchip Technology

In other news, CEO Steve Sanghi sold 416,581 shares of the firm’s stock in a transaction on Thursday, April 23rd. The shares were sold at an average price of $88.53, for a total transaction of $36,879,915.93. Following the sale, the chief executive officer owned 9,495,805 shares in the company, valued at approximately $840,663,616.65. This trade represents a 4.20% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Matthew W. Chapman sold 10,000 shares of Microchip Technology stock in a transaction on Friday, May 15th. The stock was sold at an average price of $95.48, for a total transaction of $954,800.00. Following the sale, the director directly owned 20,665 shares of the company’s stock, valued at $1,973,094.20. This represents a 32.61% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 553,302 shares of company stock worth $49,673,635 in the last 90 days. 1.79% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several equities research analysts have commented on MCHP shares. Zacks Research raised shares of Microchip Technology from a “hold” rating to a “strong-buy” rating in a report on Tuesday, May 12th. Rosenblatt Securities lifted their target price on shares of Microchip Technology from $115.00 to $120.00 and gave the stock a “buy” rating in a research note on Friday, May 8th. Citigroup boosted their price target on shares of Microchip Technology from $91.00 to $113.00 and gave the company a “buy” rating in a research report on Friday, May 8th. Needham & Company LLC boosted their price target on shares of Microchip Technology from $84.00 to $120.00 and gave the company a “buy” rating in a research report on Friday, May 8th. Finally, Wells Fargo & Company dropped their price target on shares of Microchip Technology from $95.00 to $88.00 and set an “equal weight” rating on the stock in a research note on Monday. Four investment analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and seven have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $99.76.

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.