Hsbc Holdings PLC Sells 96,832 Shares of Microchip Technology Incorporated $MCHP

Hsbc Holdings PLC decreased its holdings in Microchip Technology Incorporated (NASDAQ:MCHP) by 8.7% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,019,416 shares of the semiconductor company’s stock after selling 96,832 shares during the period. Hsbc Holdings PLC owned about 0.19% of Microchip Technology worth $65,122,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in MCHP. Norges Bank purchased a new stake in shares of Microchip Technology during the fourth quarter valued at $664,564,000. Barclays PLC increased its stake in 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 buying an additional 5,590,210 shares during the period. Barrow Hanley Mewhinney & Strauss LLC increased its stake in Microchip Technology by 25.7% in the 3rd quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 11,048,057 shares of the semiconductor company’s stock worth $709,506,000 after buying an additional 2,257,932 shares during the period. Holocene Advisors LP lifted its holdings in Microchip Technology by 77.0% during the 3rd quarter. Holocene Advisors LP now owns 4,709,538 shares of the semiconductor company’s stock valued at $302,447,000 after buying an additional 2,049,249 shares in the last quarter. Finally, Rafferty Asset Management LLC boosted its position in Microchip Technology by 41.0% in the 2nd quarter. Rafferty Asset Management LLC now owns 6,203,762 shares of the semiconductor company’s stock valued at $436,559,000 after buying an additional 1,803,945 shares during the period. 91.51% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of equities analysts have commented on MCHP shares. Wells Fargo & Company upped their target price on shares of Microchip Technology from $75.00 to $95.00 and gave the stock an “equal weight” rating in a research note on Friday, May 8th. Truist Financial lifted their price target on shares of Microchip Technology from $69.00 to $105.00 and gave the company a “hold” rating in a research note on Friday, May 8th. UBS Group reiterated a “buy” rating on shares of Microchip Technology in a report on Tuesday, June 2nd. Wall Street Zen upgraded Microchip Technology from a “hold” rating to a “buy” rating in a report on Saturday, May 9th. Finally, Rosenblatt Securities lifted their target price on Microchip Technology from $115.00 to $120.00 and gave the company a “buy” rating in a research report on Friday, May 8th. Four investment analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating and seven have given a Hold rating to the company’s stock. Based on data from MarketBeat, Microchip Technology presently has an average rating of “Moderate Buy” and a consensus target price of $98.18.

Insider Activity at Microchip Technology

In other Microchip Technology news, CFO James Eric Bjornholt sold 3,667 shares of Microchip Technology stock in a transaction dated 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 sale, the chief financial officer owned 28,573 shares of the company’s stock, valued at approximately $2,596,428.51. The trade was a 11.37% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Steve Sanghi sold 76,469 shares of the stock in a transaction on Friday, May 1st. The stock was sold at an average price of $93.58, for a total transaction of $7,155,969.02. Following the completion of the sale, the chief executive officer owned 9,385,834 shares in the company, valued at $878,326,345.72. The trade was a 0.81% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 553,302 shares of company stock valued at $49,673,635 over the last 90 days. Company insiders own 1.94% of the company’s stock.

Microchip Technology Price Performance

Shares of MCHP opened at $102.71 on Tuesday. The company has a 50 day moving average price of $91.54 and a 200-day moving average price of $77.70. Microchip Technology Incorporated has a fifty-two week low of $48.52 and a fifty-two week high of $105.91. The stock has a market capitalization of $55.68 billion, a PE ratio of 489.12, a PEG ratio of 1.04 and a beta of 1.73. The company has a debt-to-equity ratio of 0.85, a quick ratio of 1.18 and a current ratio of 2.09.

Microchip Technology (NASDAQ:MCHP) last issued its quarterly earnings data on Thursday, May 7th. The semiconductor company reported $0.57 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.50 by $0.07. The company had revenue of $1.31 billion for the quarter, compared to analyst estimates of $1.26 billion. Microchip Technology had a net margin of 4.88% and a return on equity of 10.87%. Microchip Technology’s revenue was up 35.1% compared to the same quarter last year. During the same period last year, the company posted $0.11 earnings per share. Microchip Technology has set its Q1 2027 guidance at 0.670-0.710 EPS. Equities analysts predict that Microchip Technology Incorporated will post 2.59 earnings per share for the current fiscal year.

Microchip Technology Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, June 5th. Shareholders of record on Friday, May 22nd were issued a $0.455 dividend. This represents a $1.82 annualized dividend and a yield of 1.8%. The ex-dividend date of this dividend was Friday, May 22nd. Microchip Technology’s dividend payout ratio (DPR) is currently 866.67%.

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.