Landscape Capital Management L.L.C. Invests $3.05 Million in Microchip Technology Incorporated $MCHP

Key Points

• Landscape Capital Management opened a new position in Microchip Technology, buying 47,810 shares valued at about $3.05 million in the fourth quarter.
• Microchip Technology reported strong quarterly results, posting EPS of $0.57 versus expectations of $0.50 and revenue of $1.31 billion, up 35.1% from a year earlier.
• Analysts remain generally positive on the stock, with a Moderate Buy consensus and an average price target of $98.18, while several firms recently raised targets to as high as $125.

Landscape Capital Management L.L.C. acquired a new position in Microchip Technology Incorporated (NASDAQ:MCHP - Free Report) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 47,810 shares of the semiconductor company's stock, valued at approximately $3,046,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. Wolverine Asset Management LLC increased its stake in Microchip Technology by 3,833.7% in the 4th quarter. Wolverine Asset Management LLC now owns 37,921 shares of the semiconductor company's stock worth $2,416,000 after buying an additional 36,957 shares in the last quarter. Vanguard Group Inc. increased its stake in Microchip Technology by 2.1% in the 3rd quarter. Vanguard Group Inc. now owns 72,075,558 shares of the semiconductor company's stock worth $4,628,692,000 after buying an additional 1,507,554 shares in the last quarter. Vienna Powszechne Towarzystwo Emerytalne S.A. Vienna Insurance Group purchased a new stake in Microchip Technology in the 4th quarter worth $6,691,000. Natixis Advisors LLC increased its stake in Microchip Technology by 18.7% in the 3rd quarter. Natixis Advisors LLC now owns 1,233,018 shares of the semiconductor company's stock worth $79,184,000 after buying an additional 194,048 shares in the last quarter. Finally, PNC Financial Services Group Inc. increased its stake in Microchip Technology by 13.5% in the 3rd quarter. PNC Financial Services Group Inc. now owns 209,384 shares of the semiconductor company's stock worth $13,447,000 after buying an additional 24,963 shares in the last quarter. 91.51% of the stock is currently owned by hedge funds and other institutional investors.

Microchip Technology Price Performance

Shares of NASDAQ:MCHP opened at $95.24 on Monday. 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 Incorporated has a 12 month low of $48.52 and a 12 month high of $105.91. The company has a 50-day moving average price of $87.85 and a 200 day moving average price of $75.78. The company has a market cap of $51.63 billion, a price-to-earnings ratio of 453.55, a PEG ratio of 1.00 and a beta of 1.73.

Microchip Technology (NASDAQ:MCHP - Get Free Report) last announced its quarterly earnings results on Thursday, May 7th. The semiconductor company reported $0.57 EPS for the quarter, beating analysts' consensus estimates of $0.50 by $0.07. Microchip Technology had a net margin of 4.88% and a return on equity of 10.87%. The firm had revenue of $1.31 billion during the quarter, compared to the consensus estimate of $1.26 billion. During the same quarter last year, the firm earned $0.11 EPS. The firm's revenue for the quarter was up 35.1% compared to the same quarter last year. Microchip Technology has set its Q1 2027 guidance at 0.670-0.710 EPS. As a group, equities research analysts predict 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. 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 1.9%. Microchip Technology's dividend payout ratio (DPR) is presently 866.67%.

Analysts Set New Price Targets

MCHP has been the subject of a number of analyst reports. Weiss Ratings upgraded Microchip Technology from a "hold (c-)" rating to a "hold (c)" rating in a research note on Thursday, June 4th. Susquehanna increased their price target on Microchip Technology from $95.00 to $120.00 and gave the stock a "positive" rating in a research note on Friday, May 8th. JPMorgan Chase & Co. increased their price target on Microchip Technology from $95.00 to $120.00 and gave the stock an "overweight" rating in a research note on Friday, May 8th. Cantor Fitzgerald reiterated an "overweight" rating and issued a $125.00 price target on shares of Microchip Technology in a research note on Wednesday, May 13th. Finally, Wells Fargo & Company increased their price objective on shares of Microchip Technology from $75.00 to $95.00 and gave the company an "equal weight" rating in a report on Friday, May 8th. Four research analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and seven have assigned a Hold rating to the company. Based on data from MarketBeat, Microchip Technology has a consensus rating of "Moderate Buy" and a consensus target price of $98.18.

Insider Buying and Selling at Microchip Technology

In related news, CEO Steve Sanghi sold 416,581 shares of the stock in a transaction dated 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 completion of the transaction, the chief executive officer owned 9,495,805 shares of the company's stock, valued at approximately $840,663,616.65. This trade represents a 4.20% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Matthew W. Chapman sold 10,000 shares of the stock in a transaction dated Friday, May 15th. The shares were sold at an average price of $95.48, for a total transaction 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. The trade was a 32.61% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 553,302 shares of company stock worth $49,673,635 in the last 90 days. 1.94% of the stock is currently owned by insiders.

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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