Daiwa Securities Group Inc. Sells 14,628 Shares of Microchip Technology Incorporated $MCHP

Daiwa Securities Group Inc. decreased its holdings in shares of Microchip Technology Incorporated (NASDAQ:MCHP - Free Report) by 9.2% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 144,444 shares of the semiconductor company's stock after selling 14,628 shares during the period. Daiwa Securities Group Inc.'s holdings in Microchip Technology were worth $9,204,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Wolverine Asset Management LLC lifted its stake in Microchip Technology by 3,833.7% during the fourth quarter. Wolverine Asset Management LLC now owns 37,921 shares of the semiconductor company's stock worth $2,416,000 after purchasing an additional 36,957 shares during the period. Vanguard Group Inc. raised its stake in shares of Microchip Technology by 2.1% in the third quarter. Vanguard Group Inc. now owns 72,075,558 shares of the semiconductor company's stock valued at $4,628,692,000 after acquiring an additional 1,507,554 shares during the last quarter. Vienna Powszechne Towarzystwo Emerytalne S.A. Vienna Insurance Group bought a new position in shares of Microchip Technology in the fourth quarter valued at approximately $6,691,000. Natixis Advisors LLC raised its stake in shares of Microchip Technology by 18.7% in the third quarter. Natixis Advisors LLC now owns 1,233,018 shares of the semiconductor company's stock valued at $79,184,000 after acquiring an additional 194,048 shares during the last quarter. Finally, PNC Financial Services Group Inc. raised its stake in shares of Microchip Technology by 13.5% in the third quarter. PNC Financial Services Group Inc. now owns 209,384 shares of the semiconductor company's stock valued at $13,447,000 after acquiring an additional 24,963 shares during the last quarter. Institutional investors own 91.51% of the company's stock.

Microchip Technology Stock Performance

Shares of Microchip Technology stock opened at $88.34 on Friday. The company has a debt-to-equity ratio of 0.85, a current ratio of 2.09 and a quick ratio of 1.18. The firm has a market cap of $47.89 billion, a P/E ratio of 420.69, a P/E/G ratio of 0.93 and a beta of 1.73. The firm has a 50 day simple moving average of $85.00 and a 200 day simple moving average of $74.17. Microchip Technology Incorporated has a fifty-two week low of $48.52 and a fifty-two week high of $105.91.

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

Microchip Technology Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, June 5th. Investors of record on Friday, May 22nd were issued a $0.455 dividend. The ex-dividend date of this dividend was Friday, May 22nd. This represents a $1.82 dividend on an annualized basis and a dividend yield of 2.1%. Microchip Technology's dividend payout ratio (DPR) is currently 866.67%.

Insider Activity at Microchip Technology

In other Microchip Technology news, CEO Steve Sanghi sold 76,469 shares of Microchip Technology 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 sale, the chief executive officer owned 9,385,834 shares of the company's stock, valued at approximately $878,326,345.72. The trade was a 0.81% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO James Eric Bjornholt sold 3,667 shares of Microchip Technology stock in a transaction 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 sale, the chief financial officer directly owned 28,573 shares of the company's stock, valued at $2,596,428.51. This represents a 11.37% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders sold 548,302 shares of company stock worth $49,186,035. 1.94% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on MCHP shares. Zacks Research upgraded shares of Microchip Technology from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, May 12th. Wells Fargo & Company lifted their target price on shares of Microchip Technology from $75.00 to $95.00 and gave the company an "equal weight" rating in a research note on Friday, May 8th. Susquehanna lifted their target price on shares of Microchip Technology from $95.00 to $120.00 and gave the company a "positive" rating in a research note on Friday, May 8th. Needham & Company LLC lifted their target price on shares of Microchip Technology from $84.00 to $120.00 and gave the company a "buy" rating in a research note on Friday, May 8th. Finally, Rosenblatt Securities lifted their target price on shares of Microchip Technology from $115.00 to $120.00 and gave the company a "buy" rating in a research note on Friday, May 8th. Four investment analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and seven have assigned a Hold rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $97.52.

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.

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