Artemis Wealth Advisors LLC Purchases Shares of 18,000 Microchip Technology Incorporated $MCHP

Artemis Wealth Advisors LLC purchased a new stake in shares of Microchip Technology Incorporated (NASDAQ:MCHP) in the fourth quarter, Holdings Channel.com reports. The institutional investor purchased 18,000 shares of the semiconductor company’s stock, valued at approximately $1,147,000. Microchip Technology accounts for about 0.2% of Artemis Wealth Advisors LLC’s holdings, making the stock its 24th biggest holding.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Vanguard Group Inc. raised its position in Microchip Technology by 2.0% during the 4th quarter. Vanguard Group Inc. now owns 73,506,339 shares of the semiconductor company’s stock valued at $4,683,824,000 after purchasing an additional 1,430,781 shares during the last quarter. State Street Corp raised its position in shares of Microchip Technology by 2.8% in the 4th quarter. State Street Corp now owns 28,863,048 shares of the semiconductor company’s stock worth $1,839,153,000 after acquiring an additional 783,157 shares in the last quarter. Boston Partners raised its position in shares of Microchip Technology by 9.5% in the 3rd quarter. Boston Partners now owns 16,234,332 shares of the semiconductor company’s stock worth $1,044,024,000 after acquiring an additional 1,406,885 shares in the last quarter. Geode Capital Management LLC raised its position in shares of Microchip Technology by 1.4% in the 4th quarter. Geode Capital Management LLC now owns 15,394,985 shares of the semiconductor company’s stock worth $977,638,000 after acquiring an additional 213,188 shares in the last quarter. Finally, Barclays PLC raised its position in shares of Microchip Technology by 66.5% in the 4th quarter. Barclays PLC now owns 13,996,883 shares of the semiconductor company’s stock worth $891,881,000 after acquiring an additional 5,590,210 shares in the last quarter. Institutional investors own 91.51% of the company’s stock.

Insider Buying and Selling

In related news, CFO James Eric Bjornholt sold 3,667 shares of the firm’s stock in a transaction that occurred on Friday, May 22nd. The stock was sold at an average price of $90.87, for a total transaction of $333,220.29. Following the completion of the transaction, the chief financial officer owned 28,573 shares of the company’s stock, valued at $2,596,428.51. This trade represents a 11.37% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Steve Sanghi sold 416,581 shares of the firm’s stock in a transaction that occurred on Thursday, April 23rd. The shares were sold at an average price of $88.53, for a total value of $36,879,915.93. Following the transaction, the chief executive officer directly owned 9,495,805 shares of the company’s stock, valued at approximately $840,663,616.65. This trade represents a 4.20% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 553,302 shares of company stock worth $49,673,635 in the last 90 days. Corporate insiders own 1.94% of the company’s stock.

Microchip Technology Stock Up 2.5%

MCHP stock opened at $95.24 on Friday. Microchip Technology Incorporated has a twelve month low of $48.52 and a twelve month high of $105.91. 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 PE ratio of 453.55, a price-to-earnings-growth ratio of 1.00 and a beta of 1.73. The business has a 50 day moving average of $87.85 and a 200 day moving average of $75.61.

Microchip Technology (NASDAQ:MCHP) last posted its quarterly earnings data 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 return on equity of 10.87% and a net margin of 4.88%.The company had revenue of $1.31 billion during the quarter, compared to analyst estimates of $1.26 billion. During the same quarter last year, the company earned $0.11 EPS. The firm’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. On average, research analysts forecast that Microchip Technology Incorporated will post 2.58 EPS for the current fiscal year.

Microchip Technology Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, June 5th. Investors of record on Friday, May 22nd were given a dividend of $0.455 per share. This represents a $1.82 dividend on an annualized basis and a yield of 1.9%. The ex-dividend date of this dividend was Friday, May 22nd. Microchip Technology’s dividend payout ratio (DPR) is 866.67%.

Analysts Set New Price Targets

Several research analysts have recently issued reports on the company. Truist Financial increased their target price on Microchip Technology from $69.00 to $105.00 and gave the stock a “hold” rating in a research report on Friday, May 8th. Cantor Fitzgerald reissued an “overweight” rating and issued a $125.00 target price on shares of Microchip Technology in a research report on Wednesday, May 13th. Susquehanna increased their target price on Microchip Technology from $95.00 to $120.00 and gave the stock a “positive” rating in a research report on Friday, May 8th. Rosenblatt Securities increased their target price on Microchip Technology from $115.00 to $120.00 and gave the stock a “buy” rating in a research report on Friday, May 8th. Finally, Wells Fargo & Company increased their target price on Microchip Technology from $75.00 to $95.00 and gave the stock an “equal weight” rating in a research report on Friday, May 8th. Four analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and seven have given a Hold rating to the company’s stock. Based on data from MarketBeat, Microchip Technology has an average rating of “Moderate Buy” and an average target price of $98.18.

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.