1248 Management LLC Buys 8,832 Shares of Microchip Technology Incorporated $MCHP

1248 Management LLC boosted its stake in shares of Microchip Technology Incorporated (NASDAQ:MCHP) by 101.2% during the first quarter, Holdings Channel.com reports. The fund owned 17,561 shares of the semiconductor company’s stock after acquiring an additional 8,832 shares during the period. 1248 Management LLC’s holdings in Microchip Technology were worth $850,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. First Citizens Bank & Trust Co. boosted its holdings in shares of Microchip Technology by 468.2% in the 1st quarter. First Citizens Bank & Trust Co. now owns 73,737 shares of the semiconductor company’s stock valued at $3,570,000 after purchasing an additional 60,760 shares in the last quarter. Everhart Financial Group Inc. acquired a new stake in shares of Microchip Technology in the 1st quarter valued at $221,000. Texas Bank & Trust Co acquired a new stake in shares of Microchip Technology in the 4th quarter valued at $792,000. Czech National Bank boosted its holdings in shares of Microchip Technology by 6.1% in the 1st quarter. Czech National Bank now owns 123,528 shares of the semiconductor company’s stock valued at $5,980,000 after purchasing an additional 7,093 shares in the last quarter. Finally, Sowell Financial Services LLC acquired a new stake in shares of Microchip Technology in the 1st quarter valued at $318,000. Institutional investors own 91.51% of the company’s stock.

Analyst Ratings Changes

MCHP has been the topic of a number of research analyst reports. Zacks Research downgraded Microchip Technology from a “strong-buy” rating to a “hold” rating in a report on Monday, August 18th. TD Cowen reduced their target price on Microchip Technology from $75.00 to $60.00 and set a “hold” rating on the stock in a report on Friday, August 8th. Susquehanna raised their target price on Microchip Technology from $60.00 to $90.00 and gave the company a “positive” rating in a report on Tuesday, July 22nd. Cantor Fitzgerald initiated coverage on Microchip Technology in a report on Wednesday, June 18th. They issued a “neutral” rating and a $70.00 target price on the stock. Finally, Raymond James Financial raised their target price on Microchip Technology from $65.00 to $75.00 and gave the company a “strong-buy” rating in a report on Friday, August 8th. One research analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and six have issued a Hold rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $76.58.

Insider Activity

In other Microchip Technology news, Director Matthew W. Chapman sold 10,000 shares of Microchip Technology stock in a transaction dated Monday, August 25th. The stock was sold at an average price of $68.25, for a total transaction of $682,500.00. Following the transaction, the director directly owned 30,665 shares of the company’s stock, valued at approximately $2,092,886.25. The trade was a 24.59% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO James Eric Bjornholt sold 7,356 shares of Microchip Technology stock in a transaction dated Monday, August 25th. The stock was sold at an average price of $68.72, for a total value of $505,504.32. Following the transaction, 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 ownership of the stock. The disclosure for this sale can be found here. 1.94% of the stock is currently owned by insiders.

Microchip Technology Trading Up 0.4%

NASDAQ MCHP opened at $65.02 on Friday. 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 twelve month low of $34.13 and a twelve month high of $81.64. The company has a market cap of $35.09 billion, a price-to-earnings ratio of -191.24, a price-to-earnings-growth ratio of 1.85 and a beta of 1.56. The business’s fifty day moving average is $68.27 and its 200 day moving average is $59.63.

Microchip Technology (NASDAQ:MCHP) last released its quarterly earnings data on Thursday, August 7th. The semiconductor company reported $0.27 earnings per share 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 company had revenue of $1.08 billion for the quarter, compared to the consensus estimate of $1.05 billion. During the same quarter last year, the business posted $0.53 EPS. 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 expect that Microchip Technology Incorporated will post 1.03 EPS for the current fiscal year.

Microchip Technology Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, September 5th. Shareholders of record on Friday, August 22nd were issued a dividend of $0.455 per share. The ex-dividend date of this dividend was Friday, August 22nd. This represents a $1.82 annualized dividend and a yield of 2.8%. Microchip Technology’s payout ratio is presently -535.29%.

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.