T. Rowe Price Investment Management Inc. Increases Position in Microchip Technology Incorporated $MCHP

Key Points

• T. Rowe Price Investment Management Inc. has increased its stake in Microchip Technology by 0.9%, owning over 16.6 million shares worth approximately $805 million.
• Analysts have raised their price targets for Microchip Technology, with Raymond James setting a new target of $75, while Susquehanna set theirs at $90, reflecting positive sentiment towards the company.
• Microchip Technology announced a quarterly dividend of $0.455, which signifies a 2.8% yield, despite a negative dividend payout ratio currently standing at -535.29%.

T. Rowe Price Investment Management Inc. lifted its stake in shares of Microchip Technology Incorporated (NASDAQ:MCHP - Free Report) by 0.9% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 16,630,574 shares of the semiconductor company's stock after purchasing an additional 152,434 shares during the quarter. T. Rowe Price Investment Management Inc. owned about 3.09% of Microchip Technology worth $805,087,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Northwest Bank & Trust Co boosted its position in Microchip Technology by 3.0% during the fourth quarter. Northwest Bank & Trust Co now owns 7,392 shares of the semiconductor company's stock worth $424,000 after acquiring an additional 217 shares during the last quarter. Clearstead Trust LLC raised its holdings in Microchip Technology by 10.5% in the 1st quarter. Clearstead Trust LLC now owns 2,356 shares of the semiconductor company's stock valued at $114,000 after acquiring an additional 224 shares during the last quarter. Oregon Public Employees Retirement Fund lifted its stake in shares of Microchip Technology by 0.5% during the 1st quarter. Oregon Public Employees Retirement Fund now owns 46,235 shares of the semiconductor company's stock worth $2,238,000 after purchasing an additional 230 shares during the period. Greenleaf Trust boosted its holdings in shares of Microchip Technology by 1.0% during the first quarter. Greenleaf Trust now owns 24,933 shares of the semiconductor company's stock worth $1,207,000 after purchasing an additional 242 shares during the last quarter. Finally, Bartlett & CO. Wealth Management LLC grew its position in shares of Microchip Technology by 3.4% in the first quarter. Bartlett & CO. Wealth Management LLC now owns 8,360 shares of the semiconductor company's stock valued at $405,000 after purchasing an additional 276 shares during the period. Institutional investors and hedge funds own 91.51% of the company's stock.

Wall Street Analyst Weigh In

Several equities analysts recently commented on the company. Zacks Research lowered Microchip Technology from a "strong-buy" rating to a "hold" rating in a research note on Monday. UBS Group upped their price objective on shares of Microchip Technology from $65.00 to $85.00 and gave the company a "buy" rating in a research note on Monday, July 7th. Morgan Stanley increased their price objective on shares of Microchip Technology from $39.00 to $50.00 and gave the stock an "equal weight" rating in a report on Friday, May 9th. Stifel Nicolaus boosted their target price on shares of Microchip Technology from $70.00 to $82.00 and gave the company a "buy" rating in a report on Friday, July 18th. Finally, B. Riley upped their price target on shares of Microchip Technology from $60.00 to $75.00 and gave the stock a "buy" rating in a research report on Friday, May 9th. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating and six have assigned a Hold rating to the stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $76.58.

Microchip Technology Stock Up 4.6%

Shares of NASDAQ MCHP traded up $3.04 on Friday, hitting $69.14. The company had a trading volume of 12,427,539 shares, compared to its average volume of 9,231,423. The company has a quick ratio of 1.33, a current ratio of 2.31 and a debt-to-equity ratio of 0.80. Microchip Technology Incorporated has a 12-month low of $34.13 and a 12-month high of $82.65. The firm has a market capitalization of $37.31 billion, a P/E ratio of -203.35, a PEG ratio of 1.91 and a beta of 1.55. The business has a 50 day moving average of $69.57 and a two-hundred day moving average of $58.77.

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

Microchip Technology Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, September 5th. Stockholders of record on Friday, August 22nd will be paid a $0.455 dividend. The ex-dividend date is Friday, August 22nd. This represents a $1.82 annualized dividend and a dividend yield of 2.6%. Microchip Technology's dividend payout ratio is -535.29%.

Microchip Technology Profile

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.