Oddo BHF Asset Management Sas Acquires Shares of 47,375 Microchip Technology Incorporated $MCHP

Key Points

• Oddo BHF Asset Management acquired 47,375 shares of Microchip Technology worth approximately $3.06 million, while institutional investors and hedge funds collectively own 91.51% of the company.
• Wall Street sentiment is favorable: analysts rate the stock a consensus “Moderate Buy,” with a consensus price target of $99.76; several firms recently raised targets to as high as $120.
• Microchip exceeded quarterly expectations with $0.57 in EPS and $1.31 billion in revenue, up 35.1% year over year, and pays a quarterly dividend of $0.455 per share, yielding about 2.4% annually.

Oddo BHF Asset Management Sas acquired a new position in shares of Microchip Technology Incorporated (NASDAQ:MCHP - Free Report) during the 1st quarter, according to its most recent 13F filing with the SEC. The fund acquired 47,375 shares of the semiconductor company's stock, valued at approximately $3,061,000.

A number of other institutional investors also recently made changes to their positions in the business. Wolverine Asset Management LLC boosted its holdings in shares of 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 valued at $2,416,000 after buying an additional 36,957 shares in the last quarter. Vienna Powszechne Towarzystwo Emerytalne S.A. Vienna Insurance Group bought a new position in shares of Microchip Technology during the 4th quarter worth approximately $6,691,000. Epoch Investment Partners Inc. raised its stake in shares of Microchip Technology by 16.5% during the 4th quarter. Epoch Investment Partners Inc. now owns 1,349,136 shares of the semiconductor company's stock worth $85,967,000 after acquiring an additional 191,339 shares in the last quarter. Peregrine Investment Management Inc. purchased a new stake in Microchip Technology during the first quarter valued at approximately $5,492,000. Finally, Norges Bank purchased a new stake in Microchip Technology during the fourth quarter valued at approximately $664,564,000. 91.51% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on the stock. Needham & Company LLC lifted their price target on shares of Microchip Technology from $84.00 to $120.00 and gave the stock a "buy" rating in a report on Friday, May 8th. UBS Group reiterated a "buy" rating on shares of Microchip Technology in a report on Tuesday, June 2nd. Zacks Research raised Microchip Technology from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, May 12th. Citigroup boosted their target price on Microchip Technology from $91.00 to $113.00 and gave the stock a "buy" rating in a research note on Friday, May 8th. Finally, JPMorgan Chase & Co. upped 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, May 8th. Four investment analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating and seven have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $99.76.

Insider Activity at Microchip Technology

In related news, COO Richard J. Simoncic sold 5,000 shares of the firm's stock in a transaction dated Thursday, June 4th. The stock was sold at an average price of $97.52, for a total transaction of $487,600.00. Following the sale, the chief operating officer directly owned 130,508 shares of the company's stock, valued at $12,727,140.16. This trade represents a 3.69% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO James Eric Bjornholt sold 3,667 shares of Microchip Technology stock in a transaction that occurred on Friday, May 22nd. The shares were sold at an average price of $90.87, for a total value of $333,220.29. Following the transaction, the chief financial officer owned 28,573 shares of the company's stock, valued at approximately $2,596,428.51. This represents a 11.37% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 26,750 shares of company stock worth $2,543,170 over the last quarter. Insiders own 1.79% of the company's stock.

Microchip Technology Price Performance

NASDAQ MCHP opened at $75.01 on Friday. The company has a market cap of $40.73 billion, a price-to-earnings ratio of 357.21, a PEG ratio of 0.72 and a beta of 1.74. The company has a debt-to-equity ratio of 0.85, a current ratio of 2.09 and a quick ratio of 1.18. The stock's fifty day moving average price is $89.25 and its 200 day moving average price is $81.20. Microchip Technology Incorporated has a 1 year low of $48.52 and a 1 year high of $105.91.

Microchip Technology (NASDAQ:MCHP - Get Free Report) last issued its quarterly earnings results on Thursday, May 7th. The semiconductor company reported $0.57 EPS for the quarter, topping analysts' consensus estimates of $0.50 by $0.07. The company had revenue of $1.31 billion during the quarter, compared to analysts' expectations of $1.26 billion. Microchip Technology had a return on equity of 10.87% and a net margin of 4.88%.The firm's revenue was up 35.1% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.11 EPS. Microchip Technology has set its Q1 2027 guidance at 0.670-0.710 EPS. As a group, equities research analysts forecast that Microchip Technology Incorporated will post 2.7 earnings per share for the current year.

Microchip Technology Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, June 5th. Investors of record on Friday, May 22nd were issued a dividend of $0.455 per share. 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 2.4%. Microchip Technology's payout ratio is 866.67%.

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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