28,484 Shares in Microchip Technology Incorporated $MCHP Purchased by Magnetar Financial LLC

Magnetar Financial LLC acquired a new position in Microchip Technology Incorporated (NASDAQ:MCHP) in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 28,484 shares of the semiconductor company’s stock, valued at approximately $1,829,000.

Other large investors have also bought and sold shares of the company. Florida Trust Wealth Management Co grew its holdings in shares of Microchip Technology by 3.3% during the 3rd quarter. Florida Trust Wealth Management Co now owns 4,890 shares of the semiconductor company’s stock worth $314,000 after acquiring an additional 157 shares during the period. Clean Yield Group boosted its position in shares of Microchip Technology by 9.4% during the third quarter. Clean Yield Group now owns 1,890 shares of the semiconductor company’s stock valued at $121,000 after purchasing an additional 163 shares in the last quarter. Slagle Financial LLC grew its stake in Microchip Technology by 0.3% in the third quarter. Slagle Financial LLC now owns 64,485 shares of the semiconductor company’s stock worth $4,141,000 after purchasing an additional 168 shares during the period. Global Trust Asset Management LLC raised its holdings in Microchip Technology by 2.4% in the third quarter. Global Trust Asset Management LLC now owns 7,263 shares of the semiconductor company’s stock worth $466,000 after purchasing an additional 169 shares in the last quarter. Finally, Bollard Group LLC raised its holdings in Microchip Technology by 5.8% in the second quarter. Bollard Group LLC now owns 3,178 shares of the semiconductor company’s stock worth $224,000 after purchasing an additional 173 shares in the last quarter. 91.51% of the stock is owned by institutional investors.

Microchip Technology Stock Down 4.7%

Shares of Microchip Technology stock opened at $62.73 on Friday. The company has a 50-day simple moving average of $74.27 and a two-hundred day simple moving average of $66.66. The stock has a market capitalization of $33.95 billion, a PE ratio of -216.31, a price-to-earnings-growth ratio of 1.66 and a beta of 1.45. Microchip Technology Incorporated has a 52-week low of $34.13 and a 52-week high of $83.35. The company has a debt-to-equity ratio of 0.82, a quick ratio of 1.16 and a current ratio of 2.16.

Microchip Technology (NASDAQ:MCHP) last posted its quarterly earnings results on Thursday, February 5th. The semiconductor company reported $0.44 EPS for the quarter, beating analysts’ consensus estimates of $0.43 by $0.01. Microchip Technology had a negative net margin of 1.57% and a positive return on equity of 7.16%. The firm had revenue of $1.19 billion for the quarter, compared to analysts’ expectations of $1.19 billion. During the same quarter in the prior year, the company posted $0.20 earnings per share. The business’s revenue for the quarter was up 15.6% on a year-over-year basis. Microchip Technology has set its Q4 2026 guidance at 0.480-0.520 EPS. On average, analysts anticipate that Microchip Technology Incorporated will post 1.03 EPS for the current fiscal year.

Microchip Technology Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, March 10th. Stockholders of record on Monday, February 23rd were paid a $0.455 dividend. The ex-dividend date was Monday, February 23rd. This represents a $1.82 annualized dividend and a dividend yield of 2.9%. Microchip Technology’s payout ratio is currently -627.59%.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on MCHP shares. Mizuho boosted their target price on shares of Microchip Technology from $83.00 to $90.00 and gave the company an “outperform” rating in a report on Friday, February 6th. Wall Street Zen cut shares of Microchip Technology from a “buy” rating to a “hold” rating in a research report on Saturday, March 7th. BNP Paribas Exane upgraded shares of Microchip Technology from a “neutral” rating to an “outperform” rating and set a $90.00 price objective on the stock in a report on Thursday, January 22nd. UBS Group raised their target price on shares of Microchip Technology from $85.00 to $95.00 and gave the company a “buy” rating in a research note on Monday, January 26th. Finally, Truist Financial boosted their price target on Microchip Technology from $60.00 to $68.00 and gave the stock a “hold” rating in a research report on Friday, February 6th. Three equities research analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and eight have assigned a Hold rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $86.00.

Insider Activity

In other news, CEO Steve Sanghi sold 98,814 shares of the company’s stock in a transaction on Wednesday, January 28th. The stock was sold at an average price of $80.55, for a total transaction of $7,959,467.70. Following the transaction, the chief executive officer directly owned 9,922,319 shares of the company’s stock, valued at $799,242,795.45. This represents a 0.99% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 1.94% of the stock is currently owned by insiders.

Microchip Technology 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.