Pacer Advisors Inc. Has $5.42 Million Holdings in Microchip Technology Incorporated $MCHP

Key Points

• Pacer Advisors Inc. cut its Microchip Technology stake by 17% in the fourth quarter, ending with 85,026 shares valued at about $5.42 million.
• Insiders have been selling shares, including CEO Steve Sanghi and COO Richard J. Simoncic; overall, insiders sold 553,302 shares worth about $49.7 million in the last quarter.
• Microchip reported strong quarterly results, with EPS of $0.57 topping estimates and revenue of $1.31 billion, while analysts remain broadly bullish with a Moderate Buy consensus and an average target price of $98.18.

Pacer Advisors Inc. lessened its holdings in shares of Microchip Technology Incorporated (NASDAQ:MCHP - Free Report) by 17.0% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 85,026 shares of the semiconductor company's stock after selling 17,416 shares during the quarter. Pacer Advisors Inc.'s holdings in Microchip Technology were worth $5,418,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. AQR Capital Management LLC boosted its stake in shares of Microchip Technology by 51.3% during the 1st quarter. AQR Capital Management LLC now owns 17,201 shares of the semiconductor company's stock worth $827,000 after acquiring an additional 5,835 shares during the period. Geneos Wealth Management Inc. raised its stake in Microchip Technology by 101.8% in the 1st quarter. Geneos Wealth Management Inc. now owns 1,221 shares of the semiconductor company's stock valued at $59,000 after acquiring an additional 616 shares during the period. Cresset Asset Management LLC raised its stake in Microchip Technology by 5.4% in the 2nd quarter. Cresset Asset Management LLC now owns 11,433 shares of the semiconductor company's stock valued at $805,000 after acquiring an additional 589 shares during the period. AXA S.A. lifted its holdings in Microchip Technology by 21.3% during the 2nd quarter. AXA S.A. now owns 51,552 shares of the semiconductor company's stock valued at $3,628,000 after purchasing an additional 9,043 shares during the last quarter. Finally, Treasurer of the State of North Carolina lifted its holdings in Microchip Technology by 1.6% during the 2nd quarter. Treasurer of the State of North Carolina now owns 246,530 shares of the semiconductor company's stock valued at $17,348,000 after purchasing an additional 3,851 shares during the last quarter. 91.51% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Microchip Technology

In other Microchip Technology news, CEO Steve Sanghi sold 76,469 shares of the business's stock in a transaction dated Friday, May 1st. The shares were sold at an average price of $93.58, for a total value of $7,155,969.02. Following the completion of the sale, the chief executive officer owned 9,385,834 shares of the company's stock, valued at $878,326,345.72. The trade was a 0.81% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at 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 stock in a transaction that occurred 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 transaction, the chief operating officer owned 130,508 shares in the company, valued at approximately $12,727,140.16. The trade was a 3.69% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 553,302 shares of company stock worth $49,673,635 over the last quarter. Company insiders own 1.94% of the company's stock.

Microchip Technology Stock Performance

Shares of NASDAQ MCHP opened at $102.71 on Tuesday. 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 firm has a market cap of $55.68 billion, a price-to-earnings ratio of 489.12, a P/E/G ratio of 1.04 and a beta of 1.73. The stock's fifty day moving average price is $91.54 and its two-hundred day moving average price is $77.70. 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 posted its earnings results on Thursday, May 7th. The semiconductor company reported $0.57 earnings per share 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 the consensus estimate of $1.26 billion. Microchip Technology had a return on equity of 10.87% and a net margin of 4.88%.The company's revenue 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. On average, equities analysts forecast that Microchip Technology Incorporated will post 2.59 EPS for the current year.

Microchip Technology Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 5th. Shareholders of record on Friday, May 22nd were paid a $0.455 dividend. The ex-dividend date was Friday, May 22nd. This represents a $1.82 annualized dividend and a yield of 1.8%. Microchip Technology's payout ratio is 866.67%.

Analyst Ratings Changes

A number of equities analysts have commented on the stock. Cantor Fitzgerald reaffirmed an "overweight" rating and set a $125.00 price objective on shares of Microchip Technology in a research report on Wednesday, May 13th. Barclays increased their price objective on shares of Microchip Technology from $80.00 to $105.00 and gave the company an "equal weight" rating in a research report on Monday, May 11th. Weiss Ratings raised shares of Microchip Technology from a "hold (c-)" rating to a "hold (c)" rating in a report on Thursday, June 4th. JPMorgan Chase & Co. upped their price target on shares of Microchip Technology from $95.00 to $120.00 and gave the company an "overweight" rating in a research note on Friday, May 8th. Finally, Susquehanna increased their price target on shares of Microchip Technology from $95.00 to $120.00 and gave the company a "positive" rating in a report on Friday, May 8th. Four research analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and seven have issued a Hold rating to the stock. According to MarketBeat, Microchip Technology has a consensus rating of "Moderate Buy" and a consensus target price of $98.18.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.