Microchip Technology Incorporated $MCHP Stock Holdings Increased by Harvest Fund Management Co. Ltd

Harvest Fund Management Co. Ltd increased its holdings in Microchip Technology Incorporated (NASDAQ:MCHP) by 21.8% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 40,358 shares of the semiconductor company’s stock after purchasing an additional 7,230 shares during the quarter. Harvest Fund Management Co. Ltd’s holdings in Microchip Technology were worth $2,571,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Millstone Evans Group LLC raised its holdings in shares of Microchip Technology by 23.7% during the fourth quarter. Millstone Evans Group LLC now owns 742 shares of the semiconductor company’s stock valued at $47,000 after acquiring an additional 142 shares during the period. Verdence Capital Advisors LLC raised its holdings in shares of Microchip Technology by 2.2% during the fourth quarter. Verdence Capital Advisors LLC now owns 7,120 shares of the semiconductor company’s stock valued at $454,000 after acquiring an additional 150 shares during the period. Fiduciary Family Office LLC raised its holdings in shares of Microchip Technology by 4.4% during the fourth quarter. Fiduciary Family Office LLC now owns 3,567 shares of the semiconductor company’s stock valued at $227,000 after acquiring an additional 151 shares during the period. Soltis Investment Advisors LLC raised its holdings in shares of Microchip Technology by 0.7% during the fourth quarter. Soltis Investment Advisors LLC now owns 22,469 shares of the semiconductor company’s stock valued at $1,432,000 after acquiring an additional 155 shares during the period. Finally, Bouchey Financial Group Ltd raised its holdings in shares of Microchip Technology by 4.4% during the fourth quarter. Bouchey Financial Group Ltd now owns 3,771 shares of the semiconductor company’s stock valued at $240,000 after acquiring an additional 159 shares during the period. 91.51% of the stock is currently owned by institutional investors.

Microchip Technology Stock Performance

Shares of MCHP opened at $88.34 on Friday. The company’s 50 day moving average price is $85.00 and its 200 day moving average price is $74.17. Microchip Technology Incorporated has a 52 week low of $48.52 and a 52 week high of $105.91. The company has a market capitalization of $47.89 billion, a PE ratio of 420.69, a PEG ratio of 1.01 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 announced 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. Microchip Technology had a net margin of 4.88% and a return on equity of 10.87%. The firm had revenue of $1.31 billion for the quarter, compared to the consensus estimate of $1.26 billion. During the same period in the previous year, the firm posted $0.11 earnings per share. The firm’s revenue was up 35.1% on a year-over-year basis. Microchip Technology has set its Q1 2027 guidance at 0.670-0.710 EPS. Research analysts expect that Microchip Technology Incorporated will post 2.58 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. Shareholders of record on Friday, May 22nd were given a $0.455 dividend. This represents a $1.82 annualized dividend and a yield of 2.1%. The ex-dividend date of this dividend was Friday, May 22nd. Microchip Technology’s payout ratio is currently 866.67%.

Analyst Upgrades and Downgrades

MCHP has been the topic of a number of recent analyst reports. Argus upgraded shares of Microchip Technology to a “strong-buy” rating in a report on Monday, February 9th. Susquehanna boosted their price target 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. Weiss Ratings upgraded shares of Microchip Technology from a “sell (d+)” rating to a “hold (c-)” rating in a report on Friday, May 22nd. Wall Street Zen raised shares of Microchip Technology from a “hold” rating to a “buy” rating in a research report on Saturday, May 9th. Finally, Wells Fargo & Company boosted their price objective 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 analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and seven have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $97.52.

Insider Buying and Selling at Microchip Technology

In other Microchip Technology news, CFO James Eric Bjornholt sold 3,667 shares of the business’s stock in a transaction that occurred on Friday, May 22nd. The shares were sold at an average price of $90.87, for a total value of $333,220.29. Following the completion of the sale, the chief financial officer directly owned 28,573 shares of the company’s stock, valued at $2,596,428.51. The trade was a 11.37% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Matthew W. Chapman sold 3,000 shares of the business’s stock in a transaction that occurred on Thursday, May 28th. The stock was sold at an average price of $97.52, for a total transaction of $292,560.00. Following the completion of the sale, the director directly owned 17,665 shares of the company’s stock, valued at $1,722,690.80. This represents a 14.52% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders sold 548,302 shares of company stock valued at $49,186,035. 1.94% of the stock is currently owned by insiders.

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.