Artemis Wealth Advisors LLC Invests $1.15 Million in Microchip Technology Incorporated $MCHP

Key Points

• Artemis Wealth Advisors LLC initiated a new position in Microchip Technology, buying 18,000 shares valued at about $1.15 million in the fourth quarter. The holding represents 0.2% of its portfolio and ranks as its 24th-largest position.
• Microchip Technology’s latest results topped expectations, with quarterly EPS of $0.57 versus the $0.50 consensus and revenue of $1.31 billion versus $1.26 billion expected. Revenue rose 35.1% year over year, and the company gave Q1 2027 guidance of $0.67 to $0.71 per share.
• Wall Street remains broadly constructive on MCHP: analysts issued several price-target increases, and the stock currently carries a consensus rating of Moderate Buy with an average target price of $98.18. Shares were also trading up 2.5% at $95.24, near their 52-week high of $105.91.

Artemis Wealth Advisors LLC acquired a new position in Microchip Technology Incorporated (NASDAQ:MCHP - Free Report) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 18,000 shares of the semiconductor company's stock, valued at approximately $1,147,000. Microchip Technology makes up 0.2% of Artemis Wealth Advisors LLC's investment portfolio, making the stock its 24th biggest holding.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. MCF Advisors LLC boosted its holdings in shares of Microchip Technology by 25.8% in the 4th quarter. MCF Advisors LLC now owns 659 shares of the semiconductor company's stock worth $42,000 after purchasing an additional 135 shares in the last quarter. Gagnon Securities LLC boosted its holdings in shares of Microchip Technology by 0.5% in the 4th quarter. Gagnon Securities LLC now owns 27,162 shares of the semiconductor company's stock worth $1,731,000 after purchasing an additional 137 shares in the last quarter. Millstone Evans Group LLC boosted its holdings in shares of 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 purchasing an additional 142 shares in the last quarter. Dorsey & Whitney Trust CO LLC boosted its holdings in shares of Microchip Technology by 1.6% in the 4th quarter. Dorsey & Whitney Trust CO LLC now owns 8,973 shares of the semiconductor company's stock worth $572,000 after purchasing an additional 143 shares in the last quarter. Finally, UMB Bank n.a. boosted its holdings in shares of Microchip Technology by 0.7% in the 4th quarter. UMB Bank n.a. now owns 21,443 shares of the semiconductor company's stock worth $1,366,000 after purchasing an additional 146 shares in the last quarter. 91.51% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

MCHP has been the subject of a number of research reports. Wall Street Zen upgraded Microchip Technology from a "hold" rating to a "buy" rating in a report on Saturday, May 9th. Citigroup increased their target price on Microchip Technology from $91.00 to $113.00 and gave the company a "buy" rating in a report on Friday, May 8th. Wells Fargo & Company increased their target price on Microchip Technology from $75.00 to $95.00 and gave the company an "equal weight" rating in a report on Friday, May 8th. Barclays increased their target price on Microchip Technology from $80.00 to $105.00 and gave the company an "equal weight" rating in a report on Monday, May 11th. Finally, Susquehanna increased their target price on Microchip Technology from $95.00 to $120.00 and gave the company a "positive" rating in a report on Friday, May 8th. Four research 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. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $98.18.

Microchip Technology Trading Up 2.5%

Shares of MCHP stock opened at $95.24 on Friday. The stock has a market capitalization of $51.63 billion, a PE ratio of 453.55, a P/E/G ratio of 1.00 and a beta of 1.73. Microchip Technology Incorporated has a 1-year low of $48.52 and a 1-year high of $105.91. The business has a 50-day moving average of $87.85 and a 200 day moving average of $75.61. The company has a debt-to-equity ratio of 0.85, a current ratio of 2.09 and a quick ratio of 1.18.

Microchip Technology (NASDAQ:MCHP - Get Free Report) last issued its earnings results on Thursday, May 7th. The semiconductor company reported $0.57 earnings per share for the quarter, beating the consensus estimate of $0.50 by $0.07. The company had revenue of $1.31 billion during the quarter, compared to analysts' expectations of $1.26 billion. Microchip Technology had a return on equity of 10.87% and a net margin of 4.88%.Microchip Technology's quarterly revenue was up 35.1% compared to the same quarter last year. During the same period in the prior year, the business posted $0.11 EPS. Microchip Technology has set its Q1 2027 guidance at 0.670-0.710 EPS. As a group, sell-side analysts anticipate that Microchip Technology Incorporated will post 2.58 earnings per share for the current year.

Microchip Technology Announces Dividend

The firm also recently declared 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 of this dividend was Friday, May 22nd. This represents a $1.82 dividend on an annualized basis and a yield of 1.9%. Microchip Technology's dividend payout ratio is presently 866.67%.

Insiders Place Their Bets

In other Microchip Technology news, CFO James Eric Bjornholt sold 3,667 shares of the company's stock in a transaction that occurred on Friday, May 22nd. The stock was sold at an average price of $90.87, for a total transaction of $333,220.29. Following the completion of 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 position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, COO Richard J. Simoncic sold 5,000 shares of the company's stock in a transaction that occurred on Thursday, June 4th. The shares were sold at an average price of $97.52, for a total value 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. The trade was a 3.69% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders sold 553,302 shares of company stock worth $49,673,635. 1.94% of the stock is currently owned by company insiders.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.