Assenagon Asset Management S.A. Cuts Stock Holdings in Microchip Technology Incorporated $MCHP

Assenagon Asset Management S.A. lowered its position in shares of Microchip Technology Incorporated (NASDAQ:MCHP) by 60.0% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,011,997 shares of the semiconductor company’s stock after selling 1,518,370 shares during the quarter. Assenagon Asset Management S.A.’s holdings in Microchip Technology were worth $65,385,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in MCHP. Miller Capital Partners Inc. acquired a new position in Microchip Technology in the 4th quarter valued at $29,000. EFG International AG purchased a new stake in shares of Microchip Technology during the fourth quarter worth $29,000. Caitong International Asset Management Co. Ltd grew its holdings in shares of Microchip Technology by 4,663.6% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 524 shares of the semiconductor company’s stock worth $33,000 after buying an additional 513 shares in the last quarter. Garton & Associates Financial Advisors LLC acquired a new stake in shares of Microchip Technology in the fourth quarter valued at about $33,000. Finally, Reflection Asset Management acquired a new stake in shares of Microchip Technology in the fourth quarter valued at about $33,000. Hedge funds and other institutional investors own 91.51% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on the stock. Wells Fargo & Company boosted their price target on shares of Microchip Technology from $75.00 to $95.00 and gave the stock an “equal weight” rating in a research report on Friday, May 8th. Susquehanna increased their price objective on shares of Microchip Technology from $95.00 to $120.00 and gave the company a “positive” rating in a report on Friday, May 8th. Needham & Company LLC raised their target price on shares of Microchip Technology from $84.00 to $120.00 and gave the stock a “buy” rating in a research note on Friday, May 8th. Wall Street Zen upgraded Microchip Technology from a “hold” rating to a “buy” rating in a report on Saturday, May 9th. Finally, Citigroup upped their price target on Microchip Technology from $91.00 to $113.00 and gave the company a “buy” rating in a research report on Friday, May 8th. Four equities research analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating and seven have assigned a Hold rating to the company. Based on data from MarketBeat.com, Microchip Technology presently has a consensus rating of “Moderate Buy” and an average price target of $98.18.

Microchip Technology Stock Up 1.8%

Shares of NASDAQ MCHP opened at $94.12 on Friday. The company has a market capitalization of $51.02 billion, a P/E ratio of 448.21, a P/E/G ratio of 0.95 and a beta of 1.73. The company has a debt-to-equity ratio of 0.85, a current ratio of 2.09 and a quick ratio of 1.18. The company has a 50 day simple moving average of $92.74 and a 200-day simple moving average of $78.30. Microchip Technology Incorporated has a 1 year low of $48.52 and a 1 year high of $105.91.

Microchip Technology (NASDAQ:MCHP) last released its quarterly earnings data on Thursday, May 7th. The semiconductor company reported $0.57 EPS for the quarter, beating analysts’ consensus estimates of $0.50 by $0.07. The firm had revenue of $1.31 billion for the quarter, compared to analysts’ expectations of $1.26 billion. Microchip Technology had a return on equity of 10.87% and a net margin of 4.88%.The firm’s quarterly revenue was up 35.1% on a year-over-year basis. During the same period in the prior year, the firm posted $0.11 earnings per share. Microchip Technology has set its Q1 2027 guidance at 0.670-0.710 EPS. On average, equities research analysts predict that Microchip Technology Incorporated will post 2.66 earnings per share for the current year.

Microchip Technology Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, June 5th. Stockholders of record on Friday, May 22nd were issued a $0.455 dividend. This represents a $1.82 annualized dividend and a dividend yield of 1.9%. The ex-dividend date was Friday, May 22nd. Microchip Technology’s dividend payout ratio is currently 866.67%.

Insider Activity at Microchip Technology

In related news, COO Richard J. Simoncic sold 5,000 shares of the stock in a transaction that occurred on Thursday, June 4th. The shares were sold at an average price of $97.52, for a total transaction of $487,600.00. Following the completion of the transaction, the chief operating officer owned 130,508 shares of the company’s stock, valued at approximately $12,727,140.16. This trade represents a 3.69% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Matthew W. Chapman sold 10,000 shares of Microchip Technology stock in a transaction that occurred on Friday, May 15th. The shares were sold at an average price of $95.48, for a total transaction of $954,800.00. Following the completion of the sale, the director owned 20,665 shares of the company’s stock, valued at $1,973,094.20. This trade represents a 32.61% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders have sold 553,302 shares of company stock valued at $49,673,635. 1.94% of the stock is 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.