1248 Management LLC Raises Stock Holdings in Microchip Technology Incorporated $MCHP

Key Points

• 1248 Management LLC increased its stake in Microchip Technology by 101.2%, acquiring an additional 8,832 shares, raising its total holdings to 17,561 shares valued at approximately $850,000.
• Institutional investors now own 91.51% of Microchip Technology's stock, with several firms, including Vanguard and Invesco, significantly increasing their stakes in the first quarter.
• Microchip Technology recently announced a quarterly dividend of $0.455 per share and reported earnings exceeding analysts' expectations with $1.08 billion in revenue despite a 13.3% year-over-year decline.

1248 Management LLC grew its stake in Microchip Technology Incorporated (NASDAQ:MCHP - Free Report) by 101.2% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 17,561 shares of the semiconductor company's stock after purchasing an additional 8,832 shares during the quarter. 1248 Management LLC's holdings in Microchip Technology were worth $850,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. eCIO Inc. acquired a new stake in Microchip Technology during the first quarter worth about $50,000. First Hawaiian Bank increased its stake in shares of Microchip Technology by 23.8% in the 1st quarter. First Hawaiian Bank now owns 40,909 shares of the semiconductor company's stock valued at $1,980,000 after acquiring an additional 7,856 shares in the last quarter. Inspire Investing LLC grew its position in Microchip Technology by 17.4% in the 1st quarter. Inspire Investing LLC now owns 61,632 shares of the semiconductor company's stock valued at $2,984,000 after purchasing an additional 9,153 shares during the period. Strs Ohio purchased a new position in Microchip Technology during the 1st quarter worth $4,115,000. Finally, Ellsworth Advisors LLC boosted its holdings in shares of Microchip Technology by 5.6% in the 1st quarter. Ellsworth Advisors LLC now owns 32,615 shares of the semiconductor company's stock worth $1,579,000 after buying an additional 1,737 shares during the last quarter. 91.51% of the stock is currently owned by institutional investors and hedge funds.

Microchip Technology Price Performance

MCHP traded up $1.28 on Tuesday, hitting $64.45. 7,619,421 shares of the company's stock traded hands, compared to its average volume of 10,143,961. The company's 50 day simple moving average is $67.95 and its 200-day simple moving average is $59.71. The firm has a market cap of $34.78 billion, a price-to-earnings ratio of -189.56, a P/E/G ratio of 1.85 and a beta of 1.56. Microchip Technology Incorporated has a one year low of $34.13 and a one year high of $81.64. 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 (NASDAQ:MCHP - Get Free Report) last released its quarterly earnings data 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 business had revenue of $1.08 billion for the quarter, compared to the consensus estimate of $1.05 billion. Microchip Technology had a positive return on equity of 6.24% and a negative net margin of 3.50%.The company's revenue was down 13.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.53 EPS. Microchip Technology has set its Q2 2026 guidance at 0.340-0.370 EPS. As a group, research analysts anticipate that Microchip Technology Incorporated will post 1.03 EPS for the current year.

Microchip Technology Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, September 5th. Shareholders of record on Friday, August 22nd were issued a $0.455 dividend. This represents a $1.82 annualized dividend and a dividend yield of 2.8%. The ex-dividend date was Friday, August 22nd. Microchip Technology's dividend payout ratio is currently -535.29%.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on MCHP. Wall Street Zen upgraded Microchip Technology from a "sell" rating to a "hold" rating in a research note on Friday, June 27th. Rosenblatt Securities increased their price objective on Microchip Technology from $63.00 to $70.00 and gave the company a "buy" rating in a research note on Friday, May 30th. Needham & Company LLC raised their price target on Microchip Technology from $66.00 to $77.00 and gave the stock a "buy" rating in a research note on Friday, August 8th. Stifel Nicolaus increased their price objective on Microchip Technology from $70.00 to $82.00 and gave the stock a "buy" rating in a report on Friday, July 18th. Finally, Piper Sandler increased their price objective on Microchip Technology from $65.00 to $80.00 and gave the stock an "overweight" rating in a report on Friday, August 8th. One investment analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and seven have issued a Hold rating to the stock. Based on data from MarketBeat.com, Microchip Technology has a consensus rating of "Moderate Buy" and an average price target of $75.75.

Insider Buying and Selling at Microchip Technology

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

Microchip Technology Company Profile

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.