National Pension Service Purchases 18,336 Shares of Microchip Technology Incorporated $MCHP

Key Points

• National Pension Service increased its stake in Microchip Technology by 2.2% in the fourth quarter, buying 18,336 additional shares and bringing its total holdings to 839,241 shares worth about $53.5 million.
• Several other institutional investors also boosted their positions, and institutional ownership remains high at 91.51% of the company’s stock.
• Microchip reported strong quarterly results, with EPS of $0.57 and revenue of $1.31 billion, both above expectations; analysts have also turned more positive, with a consensus rating of Moderate Buy and an average price target of $97.52.

National Pension Service lifted its position in shares of Microchip Technology Incorporated (NASDAQ:MCHP - Free Report) by 2.2% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 839,241 shares of the semiconductor company's stock after acquiring an additional 18,336 shares during the period. National Pension Service owned approximately 0.16% of Microchip Technology worth $53,476,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently made changes to their positions in MCHP. Barrow Hanley Mewhinney & Strauss LLC lifted its holdings in shares of Microchip Technology by 25.7% during the 3rd quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 11,048,057 shares of the semiconductor company's stock worth $709,506,000 after acquiring an additional 2,257,932 shares during the period. Holocene Advisors LP lifted its holdings in shares of Microchip Technology by 77.0% during the 3rd quarter. Holocene Advisors LP now owns 4,709,538 shares of the semiconductor company's stock worth $302,447,000 after acquiring an additional 2,049,249 shares during the period. Rafferty Asset Management LLC lifted its stake in 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 last quarter. Bank of America Corp DE lifted its stake in Microchip Technology by 18.8% in the 3rd quarter. Bank of America Corp DE now owns 11,419,944 shares of the semiconductor company's stock valued at $733,389,000 after purchasing an additional 1,803,831 shares during the last quarter. Finally, Ameriprise Financial Inc. lifted its stake in Microchip Technology by 255.7% in the 2nd quarter. Ameriprise Financial Inc. now owns 2,135,140 shares of the semiconductor company's stock valued at $150,271,000 after purchasing an additional 1,534,829 shares during the last quarter. Institutional investors own 91.51% of the company's stock.

Insider Buying and Selling at Microchip Technology

In other news, CFO James Eric Bjornholt sold 3,667 shares of the firm's stock in a transaction on Friday, May 22nd. The shares were sold at an average price of $90.87, for a total transaction of $333,220.29. Following the completion of the transaction, the chief financial officer owned 28,573 shares of the company's stock, valued at approximately $2,596,428.51. This trade represents a 11.37% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, COO Richard J. Simoncic sold 5,000 shares of the firm's stock in a transaction on Friday, May 22nd. The shares were sold at an average price of $93.44, for a total transaction of $467,200.00. Following the transaction, the chief operating officer directly owned 135,508 shares of the company's stock, valued at $12,661,867.52. The trade was a 3.56% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 548,302 shares of company stock worth $49,186,035 over the last ninety days. Insiders own 1.94% of the company's stock.

Microchip Technology Price Performance

MCHP stock opened at $94.65 on Friday. The company has a fifty day moving average price of $82.04 and a 200-day moving average price of $72.80. The company has a market capitalization of $51.31 billion, a P/E ratio of 450.74, a PEG ratio of 1.00 and a beta of 1.75. Microchip Technology Incorporated has a 52-week low of $48.52 and a 52-week high of $105.91. The company has a debt-to-equity ratio of 0.85, a quick ratio of 1.18 and a current ratio of 2.09.

Microchip Technology (NASDAQ:MCHP - Get Free Report) last released its quarterly earnings results on Thursday, May 7th. The semiconductor company reported $0.57 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.50 by $0.07. The firm had revenue of $1.31 billion during 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 last year, the firm earned $0.11 earnings per share. Microchip Technology has set its Q1 2027 guidance at 0.670-0.710 EPS. As a group, equities analysts expect that Microchip Technology Incorporated will post 2.58 EPS for the current year.

Microchip Technology Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 5th. Stockholders of record on Friday, May 22nd will be paid a dividend of $0.455 per share. The ex-dividend date of this dividend is Friday, May 22nd. This represents a $1.82 annualized dividend and a dividend yield of 1.9%. Microchip Technology's dividend payout ratio (DPR) is presently 866.67%.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on MCHP shares. Zacks Research raised shares of Microchip Technology from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, May 12th. Wall Street Zen raised shares of Microchip Technology from a "hold" rating to a "buy" rating in a research note on Saturday, May 9th. Citigroup increased their price objective on shares of Microchip Technology from $91.00 to $113.00 and gave the company a "buy" rating in a research note on Friday, May 8th. UBS Group increased their price objective on shares of Microchip Technology from $115.00 to $130.00 and gave the company a "buy" rating in a research note on Friday, May 8th. 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 research note on Friday, May 8th. Four equities research analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and seven have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $97.52.

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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