Sciencast Management LP Invests $3.53 Million in Microchip Technology Incorporated $MCHP

Key Points

• Sciencast Management LP invested approximately $3.53 million in Microchip Technology, acquiring 72,939 shares during the first quarter.
• A significant number of institutional investors have increased their stakes in Microchip Technology, with 91.51% of the stock currently owned by institutional investors.
• Analysts have mixed opinions on Microchip's outlook, with several upgrades in target prices and ratings, resulting in an average rating of "Moderate Buy" and a consensus price target of $76.58.

Sciencast Management LP acquired a new stake in Microchip Technology Incorporated (NASDAQ:MCHP - Free Report) during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 72,939 shares of the semiconductor company's stock, valued at approximately $3,531,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Orbis Allan Gray Ltd acquired a new stake in Microchip Technology in the first quarter worth $369,612,000. Invesco Ltd. boosted its holdings in Microchip Technology by 63.0% during the first quarter. Invesco Ltd. now owns 16,707,031 shares of the semiconductor company's stock worth $808,787,000 after purchasing an additional 6,459,123 shares during the last quarter. Goldman Sachs Group Inc. boosted its holdings in Microchip Technology by 138.9% during the first quarter. Goldman Sachs Group Inc. now owns 8,834,550 shares of the semiconductor company's stock worth $427,681,000 after purchasing an additional 5,136,154 shares during the last quarter. Barrow Hanley Mewhinney & Strauss LLC boosted its position in Microchip Technology by 273.2% during the fourth quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 5,345,096 shares of the semiconductor company's stock valued at $306,541,000 after purchasing an additional 3,912,895 shares during the last quarter. Finally, Boston Partners raised its position in Microchip Technology by 35.3% during the first quarter. Boston Partners now owns 10,726,413 shares of the semiconductor company's stock worth $517,082,000 after acquiring an additional 2,795,650 shares in the last quarter. 91.51% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on MCHP shares. Zacks Research lowered shares of Microchip Technology from a "strong-buy" rating to a "hold" rating in a research report on Monday, August 18th. The Goldman Sachs Group assumed coverage on shares of Microchip Technology in a research report on Thursday, July 10th. They issued a "buy" rating and a $88.00 target price for the company. Mizuho increased their price target on shares of Microchip Technology from $78.00 to $85.00 and gave the stock an "outperform" rating in a research report on Tuesday, July 8th. UBS Group lifted their target price on Microchip Technology from $65.00 to $85.00 and gave the company a "buy" rating in a research report on Monday, July 7th. Finally, Cantor Fitzgerald initiated coverage on Microchip Technology in a research report on Wednesday, June 18th. They issued a "neutral" rating and a $70.00 target price on the stock. One research analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and six have assigned a Hold rating to the company's stock. According to MarketBeat.com, Microchip Technology currently has an average rating of "Moderate Buy" and a consensus price target of $76.58.

Microchip Technology Stock Performance

Shares of MCHP opened at $65.92 on Monday. Microchip Technology Incorporated has a 12 month low of $34.13 and a 12 month high of $81.64. The company has a current ratio of 2.31, a quick ratio of 1.33 and a debt-to-equity ratio of 0.80. The stock has a 50 day moving average of $68.82 and a 200 day moving average of $59.50. The company has a market capitalization of $35.58 billion, a price-to-earnings ratio of -193.88, a PEG ratio of 1.89 and a beta of 1.56.

Microchip Technology (NASDAQ:MCHP - Get Free Report) last posted its quarterly earnings data on Thursday, August 7th. The semiconductor company reported $0.27 EPS for the quarter, beating the consensus estimate of $0.24 by $0.03. Microchip Technology had a positive return on equity of 6.24% and a negative net margin of 3.50%.The business had revenue of $1.08 billion for the quarter, compared to the consensus estimate of $1.05 billion. During the same quarter in the prior year, the business earned $0.53 earnings per share. Microchip Technology's revenue for the quarter was down 13.3% on a year-over-year basis. Microchip Technology has set its Q2 2026 guidance at 0.340-0.370 EPS. As a group, sell-side analysts forecast that Microchip Technology Incorporated will post 1.03 earnings per share for the current year.

Microchip Technology Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 5th. Investors of record on Friday, August 22nd were paid a $0.455 dividend. The ex-dividend date was Friday, August 22nd. This represents a $1.82 annualized dividend and a yield of 2.8%. Microchip Technology's dividend payout ratio is presently -535.29%.

Insiders Place Their Bets

In other Microchip Technology news, Director Matthew W. Chapman sold 10,000 shares of the business's stock in a transaction on Monday, August 25th. The shares were sold at an average price of $68.25, for a total transaction of $682,500.00. Following the sale, the director owned 30,665 shares of the company's stock, valued at $2,092,886.25. The trade was a 24.59% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO James Eric Bjornholt sold 7,356 shares of the business's stock in a transaction on Monday, August 25th. The shares were sold at an average price of $68.72, for a total transaction of $505,504.32. Following the sale, the chief financial officer directly owned 30,010 shares in the company, valued at $2,062,287.20. The trade was a 19.69% decrease in their position. The disclosure for this sale can be found here. Insiders own 1.94% of the company's stock.

About Microchip Technology

Microchip Technology Incorporated engages in the development, manufacture, and sale of smart, connected, and secure embedded control solutions in the Americas, Europe, and Asia. The company offers general purpose 8-bit, 16-bit, and 32-bit mixed-signal microcontrollers; 32-bit embedded mixed-signal microprocessors; and specialized microcontrollers for automotive, industrial, computing, communications, lighting, power supplies, motor control, human machine interface, security, wired connectivity, and wireless connectivity applications.

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