Securian Asset Management Inc. Sells 11,328 Shares of Microchip Technology Incorporated $MCHP

Key Points

• Securian Asset Management reduced its Microchip Technology stake by 43.5% in the fourth quarter, selling 11,328 shares and leaving it with 14,695 shares worth about $936,000.
• Microchip Technology reported stronger-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.
• Analyst sentiment and insider activity remain active: several firms raised price targets, including Citigroup and JPMorgan, while CEO Steve Sanghi sold 416,581 shares under a pre-arranged trading plan.

Securian Asset Management Inc. cut its holdings in Microchip Technology Incorporated (NASDAQ:MCHP - Free Report) by 43.5% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 14,695 shares of the semiconductor company's stock after selling 11,328 shares during the period. Securian Asset Management Inc.'s holdings in Microchip Technology were worth $936,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of the business. Millstone Evans Group LLC grew its holdings in shares of Microchip Technology by 23.7% in the fourth quarter. Millstone Evans Group LLC now owns 742 shares of the semiconductor company's stock valued at $47,000 after acquiring an additional 142 shares in the last quarter. Verdence Capital Advisors LLC grew its holdings in shares of Microchip Technology by 2.2% in the fourth quarter. Verdence Capital Advisors LLC now owns 7,120 shares of the semiconductor company's stock valued at $454,000 after acquiring an additional 150 shares in the last quarter. Florida Trust Wealth Management Co grew its holdings in Microchip Technology by 3.3% during the third quarter. Florida Trust Wealth Management Co now owns 4,890 shares of the semiconductor company's stock valued at $314,000 after purchasing an additional 157 shares during the period. Bouchey Financial Group Ltd grew its holdings in Microchip Technology by 4.4% during the fourth quarter. Bouchey Financial Group Ltd now owns 3,771 shares of the semiconductor company's stock valued at $240,000 after purchasing an additional 159 shares during the period. Finally, Slagle Financial LLC grew its holdings in Microchip Technology by 0.3% during the third quarter. Slagle Financial LLC now owns 64,485 shares of the semiconductor company's stock valued at $4,141,000 after purchasing an additional 168 shares during the period. 91.51% of the stock is owned by institutional investors.

Insider Activity at Microchip Technology

In other news, CEO Steve Sanghi sold 416,581 shares of the firm's stock in a transaction 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 of the company's stock, 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 legal filing with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 526,552 shares of company stock valued at $47,130,465 over the last three months. 1.94% of the stock is owned by company insiders.

Microchip Technology Price Performance

Microchip Technology stock opened at $96.71 on Thursday. Microchip Technology Incorporated has a one year low of $48.52 and a one year high of $105.91. The business has a fifty day moving average price of $75.13 and a 200-day moving average price of $70.10. 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 capitalization of $52.33 billion, a P/E ratio of 460.55, a PEG ratio of 1.20 and a beta of 1.75.

Microchip Technology (NASDAQ:MCHP - Get Free Report) last posted 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. Microchip Technology had a return on equity of 10.87% and a net margin of 4.88%.The firm had revenue of $1.31 billion during the quarter, compared to analyst estimates of $1.26 billion. During the same period last year, the company earned $0.11 earnings per share. The business's revenue for the quarter was up 35.1% on a year-over-year basis. 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 2.21 EPS for the current year.

Microchip Technology Announces Dividend

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

Analyst Ratings Changes

Several equities analysts have weighed in on MCHP shares. Citigroup increased their price objective on Microchip Technology from $91.00 to $113.00 and gave the company a "buy" rating in a report on Friday, May 8th. Jefferies Financial Group reissued a "hold" rating on shares of Microchip Technology in a report on Wednesday, February 4th. Truist Financial increased their price objective on Microchip Technology from $69.00 to $105.00 and gave the company a "hold" rating in a report on Friday, May 8th. KeyCorp reissued an "overweight" rating and set a $85.00 price objective on shares of Microchip Technology in a report on Friday, February 6th. Finally, JPMorgan Chase & Co. increased their price objective on Microchip Technology from $95.00 to $120.00 and gave the company an "overweight" rating in a report on Friday, May 8th. Three analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating, seven have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, Microchip Technology currently has a consensus rating of "Moderate Buy" and an average target price of $97.52.

Microchip Technology Company Profile

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.