Kestra Advisory Services LLC Buys 7,630 Shares of Microchip Technology Incorporated $MCHP

Kestra Advisory Services LLC increased its stake in shares of Microchip Technology Incorporated (NASDAQ:MCHP) by 45.9% in the 1st quarter, Holdings Channel reports. The firm owned 24,271 shares of the semiconductor company’s stock after buying an additional 7,630 shares during the period. Kestra Advisory Services LLC’s holdings in Microchip Technology were worth $1,568,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Resona Asset Management Co. Ltd. boosted its stake in shares of Microchip Technology by 1.2% in the 1st quarter. Resona Asset Management Co. Ltd. now owns 162,335 shares of the semiconductor company’s stock worth $10,349,000 after buying an additional 1,851 shares during the last quarter. CFS Investment Advisory Services LLC purchased a new stake in Microchip Technology during the first quarter valued at $194,000. Greenwood Capital Associates LLC bought a new position in Microchip Technology in the first quarter valued at about $1,272,000. Frank Rimerman Advisors LLC purchased a new position in Microchip Technology in the first quarter worth about $361,000. Finally, Lmcg Investments LLC grew its stake in shares of Microchip Technology by 3.1% during the 1st quarter. Lmcg Investments LLC now owns 112,231 shares of the semiconductor company’s stock valued at $7,251,000 after purchasing an additional 3,362 shares during the period. Hedge funds and other institutional investors own 91.51% of the company’s stock.

Microchip Technology Price Performance

Shares of NASDAQ:MCHP opened at $83.38 on Wednesday. The company has a debt-to-equity ratio of 0.85, a current ratio of 2.09 and a quick ratio of 1.18. Microchip Technology Incorporated has a 1-year low of $48.52 and a 1-year high of $105.91. The company has a market capitalization of $45.28 billion, a P/E ratio of 397.07, a P/E/G ratio of 0.81 and a beta of 1.74. The firm’s 50 day simple moving average is $91.49 and its two-hundred day simple moving average is $80.84.

Microchip Technology (NASDAQ:MCHP) last issued its earnings results on Thursday, May 7th. The semiconductor company reported $0.57 earnings per share for the quarter, topping the consensus estimate of $0.50 by $0.07. Microchip Technology had a net margin of 4.88% and a return on equity of 10.87%. The company had revenue of $1.31 billion during the quarter, compared to the consensus estimate of $1.26 billion. During the same quarter in the prior year, the firm posted $0.11 EPS. Microchip Technology’s quarterly revenue was up 35.1% compared to the same quarter last year. Microchip Technology has set its Q1 2027 guidance at 0.670-0.710 EPS. Research analysts expect that Microchip Technology Incorporated will post 2.69 EPS for the current fiscal year.

Microchip Technology Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, June 5th. Investors of record on Friday, May 22nd were paid a dividend of $0.455 per share. This represents a $1.82 annualized dividend and a yield of 2.2%. The ex-dividend date of this dividend was Friday, May 22nd. Microchip Technology’s dividend payout ratio (DPR) is 866.67%.

Analyst Ratings Changes

MCHP has been the topic of several recent research reports. JPMorgan Chase & Co. increased their price objective on shares of Microchip Technology from $95.00 to $120.00 and gave the stock an “overweight” rating in a research note on Friday, May 8th. Rosenblatt Securities increased their price target on shares of Microchip Technology from $115.00 to $120.00 and gave the stock a “buy” rating in a research report on Friday, May 8th. Cantor Fitzgerald reiterated an “overweight” rating and set a $125.00 price target on shares of Microchip Technology in a research note on Wednesday, May 13th. Needham & Company LLC boosted their price objective on shares of Microchip Technology from $84.00 to $120.00 and gave the company a “buy” rating in a research report on Friday, May 8th. Finally, Wells Fargo & Company reduced their price objective on Microchip Technology from $95.00 to $88.00 and set an “equal weight” rating for the company in a research note on Monday. Four research analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and seven have issued a Hold rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $99.76.

Insiders Place Their Bets

In other news, 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 sale, the director owned 20,665 shares in the company, valued at $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 available at the SEC website. Also, COO Richard J. Simoncic sold 5,000 shares of the business’s stock in a transaction on Thursday, June 4th. The stock was sold at an average price of $97.52, for a total transaction of $487,600.00. Following the completion of the sale, the chief operating officer owned 130,508 shares in the company, valued at approximately $12,727,140.16. The trade was a 3.69% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 553,302 shares of company stock valued at $49,673,635 in the last 90 days. 1.79% of the stock is currently owned by company insiders.

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.