Microchip Technology Incorporated $MCHP Shares Sold by SVB Wealth LLC

Key Points

• SVB Wealth LLC reduced its Microchip Technology stake by 38% in the fourth quarter, selling 23,611 shares and leaving it with 38,527 shares worth about $2.46 million.
• Analysts remain broadly positive on MCHP, with several firms lifting price targets; the stock now has a consensus rating of “Moderate Buy” and an average target price of $96.43.
• Microchip posted strong quarterly results, beating earnings and revenue estimates and raising guidance, while CEO Steve Sanghi also sold shares in a pre-arranged transaction.

SVB Wealth LLC lessened its stake in shares of Microchip Technology Incorporated (NASDAQ:MCHP - Free Report) by 38.0% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 38,527 shares of the semiconductor company's stock after selling 23,611 shares during the period. SVB Wealth LLC's holdings in Microchip Technology were worth $2,455,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of MCHP. Millstone Evans Group LLC grew its holdings in shares of Microchip Technology by 23.7% in the fourth quarter. Millstone Evans Group LLC now owns 742 shares of the semiconductor company's stock valued at $47,000 after purchasing an additional 142 shares during the period. Verdence Capital Advisors LLC raised its stake in Microchip Technology by 2.2% during the fourth quarter. Verdence Capital Advisors LLC now owns 7,120 shares of the semiconductor company's stock worth $454,000 after purchasing an additional 150 shares during the period. Florida Trust Wealth Management Co boosted its holdings in Microchip Technology by 3.3% in the 3rd quarter. Florida Trust Wealth Management Co now owns 4,890 shares of the semiconductor company's stock valued at $314,000 after purchasing an additional 157 shares during the last quarter. Bouchey Financial Group Ltd boosted its holdings in Microchip Technology by 4.4% in the 4th quarter. Bouchey Financial Group Ltd now owns 3,771 shares of the semiconductor company's stock valued at $240,000 after purchasing an additional 159 shares during the last quarter. Finally, Slagle Financial LLC grew its stake in shares of Microchip Technology by 0.3% in the 3rd quarter. Slagle Financial LLC now owns 64,485 shares of the semiconductor company's stock valued at $4,141,000 after buying an additional 168 shares during the period. Institutional investors and hedge funds own 91.51% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on the stock. Wells Fargo & Company lifted their price target on shares of Microchip Technology from $75.00 to $95.00 and gave the company an "equal weight" rating in a research report on Friday. Truist Financial increased their price objective on Microchip Technology from $69.00 to $105.00 and gave the stock a "hold" rating in a research report on Friday. B. Riley Financial raised their target price on Microchip Technology from $85.00 to $95.00 and gave the stock a "buy" rating in a research note on Monday, January 12th. JPMorgan Chase & Co. lifted their target price on Microchip Technology from $95.00 to $120.00 and gave the company an "overweight" rating in a research report on Friday. Finally, Barclays upped their price target on Microchip Technology from $80.00 to $105.00 and gave the company an "equal weight" rating in a research note on Monday. Three analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating, seven have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $96.43.

Insider Transactions at Microchip Technology

In other Microchip Technology news, CEO Steve Sanghi sold 76,469 shares of the stock in a transaction that occurred 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 sale, the chief executive officer directly owned 9,385,834 shares in the company, valued at $878,326,345.72. This represents a 0.81% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders have sold 526,552 shares of company stock worth $47,130,465. 1.94% of the stock is owned by corporate insiders.

Microchip Technology Trading Down 0.1%

NASDAQ MCHP opened at $99.03 on Tuesday. The company has a debt-to-equity ratio of 0.85, a quick ratio of 1.18 and a current ratio of 2.09. The firm has a market cap of $53.59 billion, a price-to-earnings ratio of 471.59, a PEG ratio of 1.32 and a beta of 1.75. The firm has a 50 day simple moving average of $74.22 and a 200-day simple moving average of $69.65. Microchip Technology Incorporated has a one year low of $48.52 and a one year high of $105.91.

Microchip Technology (NASDAQ:MCHP - Get Free Report) last announced its earnings results on Thursday, May 7th. The semiconductor company reported $0.57 earnings per share for the quarter, topping the consensus estimate 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 firm's revenue for the quarter was up 35.1% on a year-over-year basis. During the same period in the prior year, the firm earned $0.11 EPS. Microchip Technology has set its Q1 2027 guidance at 0.670-0.710 EPS. Equities research analysts anticipate that Microchip Technology Incorporated will post 2.14 EPS for the current fiscal year.

Microchip Technology Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 5th. Shareholders of record on Friday, May 22nd will be issued a dividend of $0.455 per share. The ex-dividend date is Friday, May 22nd. This represents a $1.82 dividend on an annualized basis and a yield of 1.8%. Microchip Technology's dividend payout ratio is 866.67%.

Trending Headlines about Microchip Technology

Here are the key news stories impacting Microchip Technology this week:

• Positive Sentiment: KeyBanc raised its price target on Microchip Technology to $135 from $85 and kept an Overweight rating, citing strong fiscal Q4 results and Q1 guidance. KeyBanc Raises its Price Target on Microchip Technology (MCHP) to $135
• Positive Sentiment: Barclays raised its price target to $105 from $80, implying additional upside, though it maintained an Equal Weight rating.
• Positive Sentiment: Several other firms also lifted targets, including JPMorgan, Truist, Citigroup, and Wells Fargo, reinforcing a broadly bullish analyst tone around MCHP.
• Positive Sentiment: Recent commentary highlighted Microchip’s earnings beat, upbeat guidance, and renewed momentum, which have helped reset expectations and support the stock’s move higher.
• Neutral Sentiment: Short interest data showed 0 shares reported as short interest as of May 11, which does not currently indicate meaningful bearish positioning.

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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