1248 Management LLC Has $638,000 Stock Position in Microchip Technology Incorporated $MCHP

Key Points

• 1248 Management LLC has increased its stake in Microchip Technology by 50.9%, acquiring an additional 4,442 shares, bringing their total holdings to 13,171 shares valued at $638,000.
• Research analysts have raised their price targets for Microchip Technology, with a consensus average target of $76.58 and most analysts rating it as a "Moderate Buy."
• Microchip Technology declared a quarterly dividend of $0.455 per share, resulting in an annualized yield of 2.8%, despite a significantly high dividend payout ratio of -535.29%.

1248 Management LLC grew its holdings in shares of Microchip Technology Incorporated (NASDAQ:MCHP - Free Report) by 50.9% in the first quarter, according to its most recent filing with the SEC. The firm owned 13,171 shares of the semiconductor company's stock after acquiring an additional 4,442 shares during the quarter. 1248 Management LLC's holdings in Microchip Technology were worth $638,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in the business. Flputnam Investment Management Co. boosted its position in Microchip Technology by 30.5% during the 1st quarter. Flputnam Investment Management Co. now owns 6,071 shares of the semiconductor company's stock worth $294,000 after acquiring an additional 1,418 shares during the period. Royal Bank of Canada boosted its position in Microchip Technology by 22.0% during the 1st quarter. Royal Bank of Canada now owns 3,482,392 shares of the semiconductor company's stock worth $168,583,000 after acquiring an additional 626,986 shares during the period. MAI Capital Management boosted its position in Microchip Technology by 1.2% during the 1st quarter. MAI Capital Management now owns 38,868 shares of the semiconductor company's stock worth $1,882,000 after acquiring an additional 456 shares during the period. Quarry LP acquired a new position in Microchip Technology during the 1st quarter worth $206,000. Finally, Brasada Capital Management LP boosted its position in Microchip Technology by 15.5% during the 1st quarter. Brasada Capital Management LP now owns 64,829 shares of the semiconductor company's stock worth $3,138,000 after acquiring an additional 8,683 shares during the period. Institutional investors and hedge funds own 91.51% of the company's stock.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on the company. Rosenblatt Securities boosted their price target on Microchip Technology from $63.00 to $70.00 and gave the stock a "buy" rating in a research report on Friday, May 30th. Morgan Stanley upped their price objective on Microchip Technology from $39.00 to $50.00 and gave the company an "equal weight" rating in a report on Friday, May 9th. The Goldman Sachs Group initiated coverage on Microchip Technology in a report on Thursday, July 10th. They issued a "buy" rating and a $88.00 price objective for the company. Mizuho upped their price objective on Microchip Technology from $78.00 to $85.00 and gave the company an "outperform" rating in a report on Tuesday, July 8th. Finally, Cantor Fitzgerald initiated coverage on Microchip Technology in a report on Wednesday, June 18th. They issued a "neutral" rating and a $70.00 price objective for the company. One analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating and six have issued a Hold rating to the company. According to MarketBeat.com, Microchip Technology has an average rating of "Moderate Buy" and an average target price of $76.58.

Insiders Place Their Bets

In other news, CFO James Eric Bjornholt sold 7,356 shares of the business's stock in a transaction on Monday, August 25th. The stock was sold at an average price of $68.72, for a total transaction of $505,504.32. Following the sale, the chief financial officer directly owned 30,010 shares of the company's stock, valued at $2,062,287.20. The trade was a 19.69% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Matthew W. Chapman sold 10,000 shares of the business's stock in a transaction on Monday, August 25th. The stock was sold at an average price of $68.25, for a total value of $682,500.00. Following the sale, the director directly owned 30,665 shares in the company, valued at $2,092,886.25. This trade represents a 24.59% decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.94% of the stock is owned by insiders.

Microchip Technology Trading Up 2.3%

Shares of Microchip Technology stock traded up $1.49 on Friday, reaching $65.92. 7,765,182 shares of the company were exchanged, compared to its average volume of 8,738,270. The stock has a fifty day moving average price of $68.82 and a 200-day moving average price of $59.56. The firm has a market capitalization of $35.58 billion, a price-to-earnings ratio of -193.88, a price-to-earnings-growth ratio of 1.85 and a beta of 1.56. The company has a current ratio of 2.31, a quick ratio of 1.33 and a debt-to-equity ratio of 0.80. Microchip Technology Incorporated has a fifty-two week low of $34.13 and a fifty-two week high of $81.64.

Microchip Technology (NASDAQ:MCHP - Get Free Report) last announced its earnings results on Thursday, August 7th. The semiconductor company reported $0.27 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.24 by $0.03. The company had revenue of $1.08 billion for the quarter, compared to analyst estimates of $1.05 billion. Microchip Technology had a positive return on equity of 6.24% and a negative net margin of 3.50%.Microchip Technology's revenue for the quarter was down 13.3% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.53 earnings per share. Microchip Technology has set its Q2 2026 guidance at 0.340-0.370 EPS. On average, analysts expect that Microchip Technology Incorporated will post 1.03 EPS for the current year.

Microchip Technology Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, September 5th. Stockholders of record on Friday, August 22nd were given a dividend of $0.455 per share. The ex-dividend date of this dividend was Friday, August 22nd. This represents a $1.82 dividend on an annualized basis and a dividend yield of 2.8%. Microchip Technology's payout ratio is -535.29%.

About Microchip Technology

Microchip Technology Incorporated engages in the development, manufacture, and sale of smart, connected, and secure embedded control solutions in the Americas, Europe, and Asia. The company offers general purpose 8-bit, 16-bit, and 32-bit mixed-signal microcontrollers; 32-bit embedded mixed-signal microprocessors; and specialized microcontrollers for automotive, industrial, computing, communications, lighting, power supplies, motor control, human machine interface, security, wired connectivity, and wireless connectivity applications.