Van ECK Associates Corp Acquires 520,364 Shares of Microchip Technology Incorporated $MCHP

Van ECK Associates Corp grew its holdings in shares of Microchip Technology Incorporated (NASDAQ:MCHP) by 9.2% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 6,165,423 shares of the semiconductor company’s stock after acquiring an additional 520,364 shares during the quarter. Van ECK Associates Corp’s holdings in Microchip Technology were worth $392,861,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. AQR Capital Management LLC increased its stake in Microchip Technology by 51.3% in the 1st quarter. AQR Capital Management LLC now owns 17,201 shares of the semiconductor company’s stock worth $827,000 after purchasing an additional 5,835 shares during the period. Geneos Wealth Management Inc. lifted its holdings in shares of Microchip Technology by 101.8% in the 1st quarter. Geneos Wealth Management Inc. now owns 1,221 shares of the semiconductor company’s stock valued at $59,000 after buying an additional 616 shares during the period. Cresset Asset Management LLC increased its stake in shares of Microchip Technology by 5.4% in the 2nd quarter. Cresset Asset Management LLC now owns 11,433 shares of the semiconductor company’s stock valued at $805,000 after purchasing an additional 589 shares in the last quarter. AXA S.A. increased its stake in shares of Microchip Technology by 21.3% in the 2nd quarter. AXA S.A. now owns 51,552 shares of the semiconductor company’s stock valued at $3,628,000 after purchasing an additional 9,043 shares in the last quarter. Finally, Treasurer of the State of North Carolina boosted its holdings in shares of Microchip Technology by 1.6% during the 2nd quarter. Treasurer of the State of North Carolina now owns 246,530 shares of the semiconductor company’s stock worth $17,348,000 after purchasing an additional 3,851 shares during the last quarter. 91.51% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on the company. Cantor Fitzgerald restated an “overweight” rating and issued a $125.00 price target on shares of Microchip Technology in a research note on Wednesday, May 13th. JPMorgan Chase & Co. lifted their price target on shares of Microchip Technology from $95.00 to $120.00 and gave the company an “overweight” rating in a research report on Friday, May 8th. Citigroup lifted their price objective on Microchip Technology from $91.00 to $113.00 and gave the stock a “buy” rating in a research report on Friday, May 8th. Truist Financial lifted their target price on shares of Microchip Technology from $69.00 to $105.00 and gave the stock a “hold” rating in a research note on Friday, May 8th. Finally, Wells Fargo & Company boosted their price objective on shares of Microchip Technology from $75.00 to $95.00 and gave the company an “equal weight” rating in a research note on Friday, May 8th. Four research analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating and seven have issued a Hold rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $98.18.

Insider Buying and Selling at Microchip Technology

In other news, CFO James Eric Bjornholt sold 3,667 shares of the business’s stock in a transaction on Friday, May 22nd. The shares were sold at an average price of $90.87, for a total value of $333,220.29. Following the sale, the chief financial officer owned 28,573 shares of the company’s stock, valued at $2,596,428.51. The trade was a 11.37% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Matthew W. Chapman sold 3,000 shares of the business’s stock in a transaction on Thursday, May 28th. The stock was sold at an average price of $97.52, for a total transaction of $292,560.00. Following the transaction, the director owned 17,665 shares in the company, valued at approximately $1,722,690.80. The trade was a 14.52% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders sold 553,302 shares of company stock worth $49,673,635. Company insiders own 1.94% of the company’s stock.

Microchip Technology Stock Performance

Shares of MCHP opened at $95.24 on Friday. Microchip Technology Incorporated has a 12 month low of $48.52 and a 12 month high of $105.91. The company’s fifty day moving average is $87.85 and its 200-day moving average is $75.61. The company has a quick ratio of 1.18, a current ratio of 2.09 and a debt-to-equity ratio of 0.85. The firm has a market cap of $51.63 billion, a price-to-earnings ratio of 453.55, a price-to-earnings-growth ratio of 0.98 and a beta of 1.73.

Microchip Technology (NASDAQ:MCHP) last issued its quarterly earnings results on Thursday, May 7th. The semiconductor company reported $0.57 earnings per share for the quarter, beating analysts’ consensus estimates of $0.50 by $0.07. Microchip Technology had a net margin of 4.88% and a return on equity of 10.87%. The firm had revenue of $1.31 billion during the quarter, compared to the consensus estimate of $1.26 billion. During the same period in the prior year, the firm earned $0.11 EPS. The business’s revenue was up 35.1% on a year-over-year basis. Microchip Technology has set its Q1 2027 guidance at 0.670-0.710 EPS. Equities analysts expect that Microchip Technology Incorporated will post 2.58 EPS for the current fiscal year.

Microchip Technology Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 5th. Stockholders of record on Friday, May 22nd were given 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 was Friday, May 22nd. Microchip Technology’s payout ratio is currently 866.67%.

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.