QRG Capital Management Inc. Acquires 26,902 Shares of Microchip Technology Incorporated $MCHP

QRG Capital Management Inc. increased its holdings in Microchip Technology Incorporated (NASDAQ:MCHP) by 43.4% in the first quarter, HoldingsChannel.com reports. The institutional investor owned 88,825 shares of the semiconductor company’s stock after purchasing an additional 26,902 shares during the quarter. QRG Capital Management Inc.’s holdings in Microchip Technology were worth $5,739,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of the stock. EFG International AG bought a new stake in Microchip Technology during the 4th quarter valued at $29,000. Miller Capital Partners Inc. bought a new position in shares of Microchip Technology in the 4th quarter worth $29,000. Reflection Asset Management bought a new position in shares of Microchip Technology in the 4th quarter worth $33,000. Garton & Associates Financial Advisors LLC purchased a new stake in shares of Microchip Technology during the 4th quarter worth $33,000. Finally, Caitong International Asset Management Co. Ltd lifted its stake in shares of Microchip Technology by 4,663.6% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 524 shares of the semiconductor company’s stock worth $33,000 after purchasing an additional 513 shares during the last quarter. Hedge funds and other institutional investors own 91.51% of the company’s stock.

Microchip Technology Price Performance

Shares of NASDAQ MCHP opened at $84.64 on Monday. Microchip Technology Incorporated has a fifty-two week low of $48.52 and a fifty-two week high of $105.91. The company has a market cap of $45.88 billion, a PE ratio of 403.07, a P/E/G ratio of 0.87 and a beta of 1.74. The company has a debt-to-equity ratio of 0.85, a quick ratio of 1.18 and a current ratio of 2.09. The business has a 50-day simple moving average of $93.79 and a two-hundred day simple moving average of $79.15.

Microchip Technology (NASDAQ:MCHP) last posted 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 firm had revenue of $1.31 billion for the quarter, compared to the consensus estimate of $1.26 billion. Microchip Technology had a net margin of 4.88% and a return on equity of 10.87%. The company’s revenue for the quarter was up 35.1% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.11 earnings per share. Microchip Technology has set its Q1 2027 guidance at 0.670-0.710 EPS. As a group, equities analysts expect that Microchip Technology Incorporated will post 2.66 EPS for the current fiscal year.

Microchip Technology Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, June 5th. Shareholders of record on Friday, May 22nd were paid a dividend of $0.455 per share. The ex-dividend date was Friday, May 22nd. This represents a $1.82 dividend on an annualized basis and a yield of 2.2%. Microchip Technology’s dividend payout ratio is presently 866.67%.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on MCHP shares. Barclays lifted their target price on Microchip Technology from $80.00 to $105.00 and gave the company an “equal weight” rating in a research note on Monday, May 11th. Weiss Ratings raised shares of Microchip Technology from a “hold (c-)” rating to a “hold (c)” rating in a research report on Thursday, June 4th. UBS Group restated a “buy” rating on shares of Microchip Technology in a report on Tuesday, June 2nd. Zacks Research raised shares of Microchip Technology from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, May 12th. Finally, Wells Fargo & Company increased their target price on shares of Microchip Technology from $75.00 to $95.00 and gave the company an “equal weight” rating in a research report on Friday, May 8th. Four research analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and seven have issued a Hold rating to the stock. Based on data from MarketBeat, Microchip Technology presently has an average rating of “Moderate Buy” and an average price target of $98.18.

Insider Activity at Microchip Technology

In other Microchip Technology news, Director Matthew W. Chapman sold 10,000 shares of the firm’s stock in a transaction on Friday, May 15th. The shares were sold at an average price of $95.48, for a total value of $954,800.00. Following the completion of the transaction, the director owned 20,665 shares of the company’s stock, valued at approximately $1,973,094.20. This trade represents a 32.61% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Steve Sanghi sold 416,581 shares of Microchip Technology stock in a transaction on Thursday, April 23rd. The stock was sold at an average price of $88.53, for a total transaction of $36,879,915.93. Following the sale, the chief executive officer owned 9,495,805 shares of the company’s stock, valued at $840,663,616.65. The trade was a 4.20% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders have sold 553,302 shares of company stock worth $49,673,635. 1.94% of the stock is owned by company 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.