Fideuram Intesa Sanpaolo Private Banking S.P.A. Buys Shares of 16,225 Microchip Technology Incorporated $MCHP

Key Points

• Fideuram Intesa Sanpaolo Private Banking bought a new stake in Microchip Technology during the fourth quarter, purchasing 16,225 shares valued at about $1.03 million.
• Microchip Technology reported strong quarterly results, with EPS of $0.57 and revenue of $1.31 billion, both ahead of analyst estimates. Revenue rose 35.1% year over year.
• The stock has seen mixed insider activity, including large recent sales by CEO Steve Sanghi and Director Matthew W. Chapman, while analysts currently rate the shares a consensus Moderate Buy with a $97.52 price target.

Fideuram Intesa Sanpaolo Private Banking S.P.A. bought a new stake in Microchip Technology Incorporated (NASDAQ:MCHP - Free Report) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 16,225 shares of the semiconductor company's stock, valued at approximately $1,034,000.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. Winnow Wealth LLC bought a new position in Microchip Technology in the third quarter valued at about $25,000. Root Financial Partners LLC bought a new position in Microchip Technology in the third quarter valued at about $28,000. GoalVest Advisory LLC raised its position in Microchip Technology by 174.0% in the fourth quarter. GoalVest Advisory LLC now owns 548 shares of the semiconductor company's stock valued at $35,000 after purchasing an additional 348 shares during the last quarter. Board of the Pension Protection Fund bought a new position in Microchip Technology in the fourth quarter valued at about $38,000. Finally, Kohmann Bosshard Financial Services LLC bought a new position in Microchip Technology in the fourth quarter valued at about $38,000. Institutional investors and hedge funds own 91.51% of the company's stock.

Insider Buying and Selling

In other news, CEO Steve Sanghi sold 416,581 shares of the business's stock in a transaction that occurred on Thursday, April 23rd. The shares were sold at an average price of $88.53, for a total value of $36,879,915.93. Following the transaction, the chief executive officer owned 9,495,805 shares in the company, valued at approximately $840,663,616.65. The trade was a 4.20% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible 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 dated Friday, May 15th. The stock was sold at an average price of $95.48, for a total value of $954,800.00. Following the completion of the transaction, the director directly owned 20,665 shares of the company's stock, valued at approximately $1,973,094.20. This trade represents a 32.61% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 536,635 shares of company stock worth $48,093,054 in the last 90 days. Corporate insiders own 1.94% of the company's stock.

Microchip Technology Trading Down 3.1%

NASDAQ MCHP opened at $91.11 on Friday. The business's 50-day moving average price is $78.26 and its two-hundred day moving average price is $71.39. Microchip Technology Incorporated has a 12 month low of $48.52 and a 12 month high of $105.91. The firm has a market capitalization of $49.30 billion, a PE ratio of 433.88, a price-to-earnings-growth ratio of 0.99 and a beta of 1.75. The company has a current ratio of 2.09, a quick ratio of 1.18 and a debt-to-equity ratio of 0.85.

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 (EPS) for the quarter, topping analysts' consensus estimates of $0.50 by $0.07. The firm had revenue of $1.31 billion for the quarter, compared to the consensus estimate of $1.26 billion. Microchip Technology had a net margin of 4.88% and a return on equity of 10.87%. The company's revenue for the quarter was up 35.1% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.11 EPS. Microchip Technology has set its Q1 2027 guidance at 0.670-0.710 EPS. On average, analysts expect that Microchip Technology Incorporated will post 2.58 EPS for the current year.

Microchip Technology Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, June 5th. Stockholders of record on Friday, May 22nd will be given a $0.455 dividend. The ex-dividend date is Friday, May 22nd. This represents a $1.82 dividend on an annualized basis and a dividend yield of 2.0%. Microchip Technology's payout ratio is 866.67%.

Analyst Ratings Changes

Several equities analysts have commented on MCHP shares. BNP Paribas Exane upgraded Microchip Technology from a "neutral" rating to an "outperform" rating and set a $90.00 target price for the company in a research report on Thursday, January 22nd. Needham & Company LLC upped 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. Zacks Research upgraded shares of Microchip Technology from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, May 12th. Stifel Nicolaus set a $90.00 price target on shares of Microchip Technology in a research report on Friday, February 6th. Finally, Jefferies Financial Group restated a "hold" rating on shares of Microchip Technology in a research report on Wednesday, February 4th. Four analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating, six have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $97.52.

Microchip Technology 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.

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