Clearbridge Investments LLC Sells 150,849 Shares of Microchip Technology Incorporated $MCHP

Clearbridge Investments LLC lowered its holdings in shares of Microchip Technology Incorporated (NASDAQ:MCHP) by 3.9% during the 4th quarter, Holdings Channel.com reports. The firm owned 3,704,121 shares of the semiconductor company’s stock after selling 150,849 shares during the quarter. Clearbridge Investments LLC’s holdings in Microchip Technology were worth $236,027,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. GoalVest Advisory LLC grew its holdings in Microchip Technology by 174.0% in the 4th quarter. GoalVest Advisory LLC now owns 548 shares of the semiconductor company’s stock worth $35,000 after acquiring an additional 348 shares during the last quarter. Board of the Pension Protection Fund bought a new stake in Microchip Technology in the 4th quarter worth $38,000. Kohmann Bosshard Financial Services LLC bought a new stake in Microchip Technology in the 4th quarter worth $38,000. State of Wyoming grew its holdings in Microchip Technology by 78.1% in the 2nd quarter. State of Wyoming now owns 618 shares of the semiconductor company’s stock worth $43,000 after acquiring an additional 271 shares during the last quarter. Finally, MCF Advisors LLC grew its holdings in Microchip Technology by 25.8% in the 4th quarter. MCF Advisors LLC now owns 659 shares of the semiconductor company’s stock worth $42,000 after acquiring an additional 135 shares during the last quarter. Institutional investors own 91.51% of the company’s stock.

Insider Activity at Microchip Technology

In other news, COO Richard J. Simoncic sold 5,000 shares of Microchip Technology stock in a transaction dated Friday, May 22nd. The shares were sold at an average price of $93.44, for a total transaction of $467,200.00. Following the sale, the chief operating officer owned 135,508 shares of the company’s stock, valued at approximately $12,661,867.52. The trade was a 3.56% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO James Eric Bjornholt sold 3,667 shares of Microchip Technology stock in a transaction dated Friday, May 22nd. The shares were sold at an average price of $90.87, for a total transaction of $333,220.29. Following the transaction, the chief financial officer directly owned 28,573 shares of the company’s stock, valued at approximately $2,596,428.51. This trade represents a 11.37% decrease in their ownership of the stock. 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. Over the last quarter, insiders sold 548,302 shares of company stock worth $49,186,035. 1.94% of the stock is currently owned by company insiders.

Analyst Ratings Changes

MCHP has been the topic of a number of recent analyst reports. Truist Financial raised their price target on shares of Microchip Technology from $69.00 to $105.00 and gave the stock a “hold” rating in a report on Friday, May 8th. UBS Group reissued a “buy” rating on shares of Microchip Technology in a report on Tuesday. Susquehanna raised their price target on shares of Microchip Technology from $95.00 to $120.00 and gave the stock a “positive” rating in a report on Friday, May 8th. Cantor Fitzgerald reissued an “overweight” rating and issued a $125.00 price target on shares of Microchip Technology in a report on Wednesday, May 13th. Finally, Rosenblatt Securities raised their price target on shares of Microchip Technology from $115.00 to $120.00 and gave the stock a “buy” rating in a report on Friday, May 8th. Four equities research analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and seven have issued a Hold rating to the company. Based on data from MarketBeat.com, Microchip Technology has a consensus rating of “Moderate Buy” and an average target price of $97.52.

Microchip Technology Trading Down 8.3%

Shares of MCHP opened at $88.34 on Friday. The firm’s 50-day moving average price is $85.00 and its 200-day moving average price is $74.17. The firm has a market capitalization of $47.89 billion, a price-to-earnings ratio of 420.69, a PEG ratio of 0.93 and a beta of 1.73. The company has a current ratio of 2.09, a quick ratio of 1.18 and a debt-to-equity ratio of 0.85. Microchip Technology Incorporated has a 1-year low of $48.52 and a 1-year high of $105.91.

Microchip Technology (NASDAQ:MCHP) last announced its 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. The firm 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%. The company’s revenue for the quarter was up 35.1% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.11 EPS. Microchip Technology has set its Q1 2027 guidance at 0.670-0.710 EPS. Sell-side analysts anticipate that Microchip Technology Incorporated will post 2.58 EPS for the current year.

Microchip Technology Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, June 5th. Stockholders of record on Friday, May 22nd were paid a dividend of $0.455 per share. The ex-dividend date of this dividend was Friday, May 22nd. This represents a $1.82 dividend on an annualized basis and a dividend yield of 2.1%. Microchip Technology’s payout ratio is presently 866.67%.

About Microchip Technology

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.