Rockefeller Capital Management L.P. Increases Stake in Microchip Technology Incorporated $MCHP

Rockefeller Capital Management L.P. grew its position in Microchip Technology Incorporated (NASDAQ:MCHP) by 20.3% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 45,986 shares of the semiconductor company’s stock after buying an additional 7,765 shares during the period. Rockefeller Capital Management L.P.’s holdings in Microchip Technology were worth $2,930,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. EFG International AG purchased a new stake in shares of Microchip Technology during the fourth quarter valued at approximately $29,000. Miller Capital Partners Inc. bought a new position in Microchip Technology in the 4th quarter valued at approximately $29,000. Reflection Asset Management bought a new position in Microchip Technology in the 4th quarter valued at approximately $33,000. Garton & Associates Financial Advisors LLC purchased a new stake in Microchip Technology during the 4th quarter valued at $33,000. Finally, Caitong International Asset Management Co. Ltd boosted its stake in 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 valued at $33,000 after purchasing an additional 513 shares during the last quarter. Institutional investors own 91.51% of the company’s stock.

Insider Buying and Selling at Microchip Technology

In other Microchip Technology news, CEO Steve Sanghi sold 76,469 shares of the stock in a transaction that occurred on Friday, May 1st. The shares were sold at an average price of $93.58, for a total value of $7,155,969.02. Following the transaction, the chief executive officer directly owned 9,385,834 shares in the company, valued at approximately $878,326,345.72. This trade represents a 0.81% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, COO Richard J. Simoncic sold 5,000 shares of Microchip Technology 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 transaction, the chief operating officer owned 130,508 shares in the company, valued at $12,727,140.16. This represents 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 ninety days. Corporate insiders own 1.94% of the company’s stock.

Microchip Technology Stock Performance

Shares of NASDAQ:MCHP opened at $87.93 on Monday. The stock’s 50-day simple moving average is $93.01 and its two-hundred day simple moving average is $78.45. The stock has a market capitalization of $47.67 billion, a price-to-earnings ratio of 418.73, a PEG ratio of 0.90 and a beta of 1.73. Microchip Technology Incorporated has a 52-week low of $48.52 and a 52-week high of $105.91. 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 released its quarterly earnings results on Thursday, May 7th. The semiconductor company reported $0.57 EPS for the quarter, beating 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 firm had revenue of $1.31 billion during the quarter, compared to analyst estimates of $1.26 billion. During the same quarter in the prior year, the firm earned $0.11 EPS. The business’s revenue for the quarter 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. Analysts expect that Microchip Technology Incorporated will post 2.66 EPS for the current 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 issued a dividend of $0.455 per share. This represents a $1.82 dividend on an annualized basis and a yield of 2.1%. The ex-dividend date of this dividend was Friday, May 22nd. Microchip Technology’s dividend payout ratio is currently 866.67%.

Analysts Set New Price Targets

Several research analysts have recently weighed in on the company. Weiss Ratings upgraded Microchip Technology from a “hold (c-)” rating to a “hold (c)” rating in a research note on Thursday, June 4th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $125.00 price objective on shares of Microchip Technology in a research report on Wednesday, May 13th. Needham & Company LLC lifted their price objective on Microchip Technology from $84.00 to $120.00 and gave the stock a “buy” rating in a report on Friday, May 8th. Barclays boosted their target price on Microchip Technology from $80.00 to $105.00 and gave the stock an “equal weight” rating in a research report on Monday, May 11th. Finally, UBS Group reaffirmed a “buy” rating on shares of Microchip Technology in a report on Tuesday, June 2nd. Four research analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating and seven have given a Hold rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $98.18.

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.