ProShare Advisors LLC Has $73.13 Million Stake in Microchip Technology Incorporated $MCHP

Key Points

• ProShare Advisors LLC increased its Microchip Technology stake by 35.8% in Q4, ending with 1,147,669 shares worth about $73.1 million.
• Microchip Technology reported better-than-expected quarterly results, with EPS of $0.57 versus $0.50 expected and revenue of $1.31 billion, up 35.1% year over year.
• Analysts remain generally bullish: several firms raised price targets to $120, and the stock currently has a Moderate Buy consensus with a $97.52 average target.

ProShare Advisors LLC raised its holdings in Microchip Technology Incorporated (NASDAQ:MCHP - Free Report) by 35.8% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 1,147,669 shares of the semiconductor company's stock after acquiring an additional 302,593 shares during the period. ProShare Advisors LLC owned about 0.21% of Microchip Technology worth $73,129,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in MCHP. Wolverine Asset Management LLC boosted its holdings in shares of Microchip Technology by 3,833.7% in the fourth 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 during the period. Vanguard Group Inc. boosted its holdings in shares of Microchip Technology by 2.1% in the third quarter. Vanguard Group Inc. now owns 72,075,558 shares of the semiconductor company's stock valued at $4,628,692,000 after buying an additional 1,507,554 shares during the period. Vienna Powszechne Towarzystwo Emerytalne S.A. Vienna Insurance Group acquired a new position in shares of Microchip Technology in the fourth quarter valued at approximately $6,691,000. PNC Financial Services Group Inc. boosted its holdings in shares of Microchip Technology by 13.5% in the third quarter. PNC Financial Services Group Inc. now owns 209,384 shares of the semiconductor company's stock valued at $13,447,000 after buying an additional 24,963 shares during the period. Finally, Natixis Advisors LLC boosted its holdings in shares of Microchip Technology by 18.7% in the third quarter. Natixis Advisors LLC now owns 1,233,018 shares of the semiconductor company's stock valued at $79,184,000 after buying an additional 194,048 shares during the period. 91.51% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Microchip Technology news, CEO Steve Sanghi sold 416,581 shares of the firm's stock in a transaction that occurred on Thursday, April 23rd. The stock was sold at an average price of $88.53, for a total value of $36,879,915.93. Following the completion of the transaction, the chief executive officer directly owned 9,495,805 shares in the company, valued at $840,663,616.65. This trade represents a 4.20% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 526,635 shares of company stock valued at $47,138,254 in the last ninety days. 1.94% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several research analysts have recently weighed in on the stock. KeyCorp reiterated an "overweight" rating and issued a $85.00 price target on shares of Microchip Technology in a report on Friday, February 6th. JPMorgan Chase & Co. increased their price objective on Microchip Technology from $95.00 to $120.00 and gave the stock an "overweight" rating in a report on Friday, May 8th. Susquehanna increased their price objective on Microchip Technology from $95.00 to $120.00 and gave the stock a "positive" rating in a report on Friday, May 8th. Needham & Company LLC increased their price objective on Microchip Technology from $84.00 to $120.00 and gave the stock a "buy" rating in a report on Friday, May 8th. Finally, Jefferies Financial Group reiterated a "hold" rating on shares of Microchip Technology in a report on Wednesday, February 4th. Four equities research analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating, six have given a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat, Microchip Technology currently has a consensus rating of "Moderate Buy" and a consensus price target of $97.52.

Microchip Technology Stock Down 1.0%

Microchip Technology stock opened at $91.81 on Wednesday. The company has a market cap of $49.68 billion, a P/E ratio of 437.21, a price-to-earnings-growth ratio of 1.14 and a beta of 1.75. Microchip Technology Incorporated has a 1-year low of $48.52 and a 1-year high of $105.91. The company has a fifty day simple moving average of $77.16 and a 200 day simple moving average of $70.96. The company has a current ratio of 2.09, a quick ratio of 1.18 and a debt-to-equity ratio of 0.85.

Microchip Technology (NASDAQ:MCHP - Get Free Report) last posted its quarterly earnings results on Thursday, May 7th. The semiconductor company reported $0.57 earnings per share for the quarter, beating analysts' consensus estimates 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 return on equity of 10.87% and a net margin of 4.88%.The business's revenue was up 35.1% compared to the same quarter last year. During the same period last year, the company earned $0.11 earnings per share. Microchip Technology has set its Q1 2027 guidance at 0.670-0.710 EPS. Research analysts anticipate that Microchip Technology Incorporated will post 2.2 earnings per share for the current fiscal year.

Microchip Technology Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, June 5th. Shareholders of record on Friday, May 22nd will be paid a $0.455 dividend. This represents a $1.82 dividend on an annualized basis and a yield of 2.0%. The ex-dividend date is Friday, May 22nd. Microchip Technology's dividend payout ratio (DPR) is currently 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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