Fideuram Intesa Sanpaolo Private Banking S.P.A. Invests $1.03 Million in Microchip Technology Incorporated $MCHP

Key Points

• Fideuram Intesa Sanpaolo Private Banking initiated a new position in Microchip Technology, buying 16,225 shares valued at about $1.03 million in the fourth quarter.
• Analyst sentiment around Microchip Technology remains largely positive, with several firms raising price targets and ratings; MarketBeat notes a Moderate Buy consensus and an average target price of $97.52.
• Microchip reported stronger-than-expected quarterly results, including $0.57 EPS and $1.31 billion in revenue, while also announcing a quarterly dividend of $0.455 per share payable on June 5.

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

A number of other institutional investors and hedge funds also recently modified their holdings of MCHP. AQR Capital Management LLC raised its position in shares of Microchip Technology by 51.3% during the first quarter. AQR Capital Management LLC now owns 17,201 shares of the semiconductor company's stock worth $827,000 after purchasing an additional 5,835 shares during the period. Geneos Wealth Management Inc. raised its position in shares of Microchip Technology by 101.8% during the first quarter. Geneos Wealth Management Inc. now owns 1,221 shares of the semiconductor company's stock worth $59,000 after purchasing an additional 616 shares during the period. Cresset Asset Management LLC raised its position in shares of Microchip Technology by 5.4% during the second quarter. Cresset Asset Management LLC now owns 11,433 shares of the semiconductor company's stock worth $805,000 after purchasing an additional 589 shares during the period. AXA S.A. raised its position in shares of Microchip Technology by 21.3% during the second quarter. AXA S.A. now owns 51,552 shares of the semiconductor company's stock worth $3,628,000 after purchasing an additional 9,043 shares during the period. Finally, Treasurer of the State of North Carolina raised its position in shares of Microchip Technology by 1.6% during the second quarter. Treasurer of the State of North Carolina now owns 246,530 shares of the semiconductor company's stock worth $17,348,000 after purchasing an additional 3,851 shares during the period. 91.51% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on MCHP shares. JPMorgan Chase & Co. boosted their target price on Microchip Technology from $95.00 to $120.00 and gave the stock an "overweight" rating in a research report on Friday, May 8th. Zacks Research raised Microchip Technology from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, May 12th. UBS Group upped their price target on Microchip Technology from $115.00 to $130.00 and gave the company a "buy" rating in a research report on Friday, May 8th. Jefferies Financial Group reissued a "hold" rating on shares of Microchip Technology in a research report on Wednesday, February 4th. Finally, Weiss Ratings lowered Microchip Technology from a "hold (c-)" rating to a "sell (d+)" rating in a research report on Friday, May 8th. 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 given a Sell rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $97.52.

Insider Activity

In other Microchip Technology news, Director Matthew W. Chapman sold 10,000 shares of the company's 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 transaction, the director directly owned 20,665 shares of the company's stock, valued at $1,973,094.20. This represents a 32.61% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Steve Sanghi sold 416,581 shares of the company's stock in a transaction dated Thursday, April 23rd. The stock was sold at an average price of $88.53, for a total value of $36,879,915.93. Following the completion of the transaction, the chief executive officer directly owned 9,495,805 shares in the company, valued at approximately $840,663,616.65. The trade was a 4.20% decrease in their ownership of the stock. 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. Over the last ninety days, insiders sold 536,635 shares of company stock worth $48,093,054. Insiders own 1.94% of the company's stock.

Microchip Technology Stock Up 2.5%

NASDAQ:MCHP opened at $93.43 on Friday. The firm has a market capitalization of $50.56 billion, a price-to-earnings ratio of 444.93, a PEG ratio of 0.98 and a beta of 1.75. Microchip Technology Incorporated has a 1-year low of $48.52 and a 1-year high of $105.91. The company has a current ratio of 2.09, a quick ratio of 1.18 and a debt-to-equity ratio of 0.85. The business's fifty day moving average price is $78.81 and its 200 day moving average price is $71.54.

Microchip Technology (NASDAQ:MCHP - Get Free Report) last posted its quarterly 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 firm had revenue of $1.31 billion for the quarter, compared to analyst estimates 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% on a year-over-year basis. During the same period in the previous year, the firm earned $0.11 earnings per share. Microchip Technology has set its Q1 2027 guidance at 0.670-0.710 EPS. On average, sell-side analysts forecast that Microchip Technology Incorporated will post 2.58 earnings per share for the current fiscal year.

Microchip Technology Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, June 5th. Shareholders of record on Friday, May 22nd will be given a $0.455 dividend. This represents a $1.82 annualized dividend and a yield of 1.9%. The ex-dividend date of this dividend is Friday, May 22nd. Microchip Technology's dividend payout ratio is presently 866.67%.

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.

Want to see what other hedge funds are holding MCHP? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Microchip Technology Incorporated (NASDAQ:MCHP - Free Report).

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.