Microchip Technology Incorporated $MCHP Stock Holdings Lessened by Premier Path Wealth Partners LLC

Key Points

• Premier Path Wealth Partners cut its Microchip Technology stake by 79.9% in the first quarter, leaving it with 3,572 shares valued at about $231,000.
• Institutional ownership remains high, with 91.51% of Microchip Technology shares held by institutions, while several large investors increased or initiated positions in the company.
• Insiders have been selling shares: COO Richard J. Simoncic and CFO James Eric Bjornholt both sold stock, and insiders sold 553,302 shares in the last quarter overall.

Premier Path Wealth Partners LLC lessened its stake in shares of Microchip Technology Incorporated (NASDAQ:MCHP - Free Report) by 79.9% in the first quarter, according to its most recent filing with the SEC. The fund owned 3,572 shares of the semiconductor company's stock after selling 14,223 shares during the period. Premier Path Wealth Partners LLC's holdings in Microchip Technology were worth $231,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of MCHP. Norges Bank acquired a new position in shares of Microchip Technology in the 4th quarter worth $664,564,000. Barclays PLC lifted its holdings in shares of Microchip Technology by 66.5% during the fourth quarter. Barclays PLC now owns 13,996,883 shares of the semiconductor company's stock valued at $891,881,000 after purchasing an additional 5,590,210 shares during the last quarter. Barrow Hanley Mewhinney & Strauss LLC lifted its holdings in shares of Microchip Technology by 25.7% during the third quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 11,048,057 shares of the semiconductor company's stock valued at $709,506,000 after purchasing an additional 2,257,932 shares during the last quarter. Holocene Advisors LP boosted its position in shares of Microchip Technology by 77.0% in the 3rd quarter. Holocene Advisors LP now owns 4,709,538 shares of the semiconductor company's stock valued at $302,447,000 after purchasing an additional 2,049,249 shares during the period. Finally, Rafferty Asset Management LLC boosted its position in shares of Microchip Technology by 41.0% in the 2nd quarter. Rafferty Asset Management LLC now owns 6,203,762 shares of the semiconductor company's stock valued at $436,559,000 after purchasing an additional 1,803,945 shares during the period. 91.51% of the stock is owned by institutional investors.

Insider Activity at Microchip Technology

In related news, COO Richard J. Simoncic sold 5,000 shares of Microchip Technology stock in a transaction on Thursday, June 4th. The stock was sold at an average price of $97.52, for a total transaction of $487,600.00. Following the completion of the sale, the chief operating officer owned 130,508 shares of the company's stock, valued at approximately $12,727,140.16. This trade represents a 3.69% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO James Eric Bjornholt sold 3,667 shares of the business's stock in a transaction dated Friday, May 22nd. The shares were sold at an average price of $90.87, for a total value of $333,220.29. Following the completion of the transaction, the chief financial officer owned 28,573 shares in the company, valued at $2,596,428.51. This trade represents a 11.37% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders have sold 553,302 shares of company stock valued at $49,673,635. Insiders own 1.94% of the company's stock.

Analyst Upgrades and Downgrades

Several research firms have issued reports on MCHP. Truist Financial boosted their price objective on Microchip Technology from $69.00 to $105.00 and gave the stock a "hold" rating in a report on Friday, May 8th. Zacks Research upgraded shares of Microchip Technology from a "hold" rating to a "strong-buy" rating in a report on Tuesday, May 12th. Needham & Company LLC lifted their target price on shares of Microchip Technology from $84.00 to $120.00 and gave the stock a "buy" rating in a research report on Friday, May 8th. Susquehanna lifted their target price on shares of Microchip Technology from $95.00 to $120.00 and gave the stock a "positive" rating in a research report on Friday, May 8th. Finally, Barclays boosted their price target on shares of Microchip Technology from $80.00 to $105.00 and gave the company an "equal weight" rating in a report on Monday, May 11th. Four research analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating and seven have given a Hold rating to the company's stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $98.18.

Microchip Technology Price Performance

NASDAQ:MCHP opened at $84.64 on Friday. The firm has a market capitalization of $45.88 billion, a price-to-earnings ratio of 403.07, a PEG ratio of 0.87 and a beta of 1.74. 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 $93.79 and its 200 day moving average price is $79.07.

Microchip Technology (NASDAQ:MCHP - Get Free Report) last announced its quarterly earnings data on Thursday, May 7th. The semiconductor company reported $0.57 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.50 by $0.07. Microchip Technology had a return on equity of 10.87% and a net margin of 4.88%.The firm had revenue of $1.31 billion during the quarter, compared to the consensus estimate of $1.26 billion. During the same period in the prior year, the business earned $0.11 EPS. The business's revenue for the quarter was up 35.1% on a year-over-year basis. 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 2.66 earnings per share for the current fiscal year.

Microchip Technology Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, June 5th. Stockholders of record on Friday, May 22nd were issued a dividend of $0.455 per share. This represents a $1.82 annualized dividend and a dividend yield of 2.2%. The ex-dividend date was Friday, May 22nd. Microchip Technology's payout ratio is currently 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.

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