T. Rowe Price Investment Management Inc. Acquires 441,868 Shares of Microchip Technology Incorporated $MCHP

T. Rowe Price Investment Management Inc. lifted its stake in shares of Microchip Technology Incorporated (NASDAQ:MCHP) by 4.7% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 9,919,171 shares of the semiconductor company’s stock after buying an additional 441,868 shares during the period. T. Rowe Price Investment Management Inc.’s holdings in Microchip Technology were worth $632,050,000 at the end of the most recent quarter.

A number of other large investors also recently made changes to their positions in MCHP. Compound Planning Inc. boosted its holdings in Microchip Technology by 374.2% during the fourth quarter. Compound Planning Inc. now owns 26,941 shares of the semiconductor company’s stock worth $1,717,000 after purchasing an additional 21,260 shares during the last quarter. Invesco Ltd. increased its stake in Microchip Technology by 4.8% in the 4th quarter. Invesco Ltd. now owns 14,992,128 shares of the semiconductor company’s stock valued at $955,298,000 after buying an additional 684,561 shares during the last quarter. Corient Private Wealth LLC increased its stake in Microchip Technology by 51.8% in the 4th quarter. Corient Private Wealth LLC now owns 1,569,261 shares of the semiconductor company’s stock valued at $99,756,000 after buying an additional 535,625 shares during the last quarter. State of Tennessee Department of Treasury lifted its position in shares of Microchip Technology by 46.6% during the 4th quarter. State of Tennessee Department of Treasury now owns 190,190 shares of the semiconductor company’s stock worth $12,119,000 after buying an additional 60,423 shares in the last quarter. Finally, EP Wealth Advisors LLC purchased a new position in shares of Microchip Technology in the 4th quarter worth approximately $556,000. 91.51% of the stock is owned by institutional investors.

Insider Transactions at Microchip Technology

In related news, CFO James Eric Bjornholt sold 3,667 shares of the business’s stock in a transaction dated Friday, May 22nd. The stock was sold at an average price of $90.87, for a total value of $333,220.29. Following the sale, the chief financial officer directly owned 28,573 shares in the company, valued at approximately $2,596,428.51. The trade was a 11.37% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Steve Sanghi sold 416,581 shares of the business’s stock in a transaction dated Thursday, April 23rd. The shares were sold at an average price of $88.53, for a total value of $36,879,915.93. Following the completion of the sale, the chief executive officer owned 9,495,805 shares in the company, valued at $840,663,616.65. This represents 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. Insiders sold 553,302 shares of company stock worth $49,673,635 over the last quarter. 1.94% of the stock is currently owned by corporate insiders.

Microchip Technology Stock Up 6.0%

Microchip Technology stock opened at $99.77 on Friday. The firm has a 50 day moving average price of $90.33 and a 200-day moving average price of $77.05. The company has a quick ratio of 1.18, a current ratio of 2.09 and a debt-to-equity ratio of 0.85. Microchip Technology Incorporated has a twelve month low of $48.52 and a twelve month high of $105.91. The company has a market capitalization of $54.08 billion, a P/E ratio of 475.12, a P/E/G ratio of 0.99 and a beta of 1.73.

Microchip Technology (NASDAQ:MCHP) last posted its quarterly earnings results on Thursday, May 7th. The semiconductor company reported $0.57 EPS for the quarter, topping 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 company had revenue of $1.31 billion for the quarter, compared to analysts’ expectations of $1.26 billion. During the same quarter in the previous year, the firm posted $0.11 EPS. Microchip Technology’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. As a group, equities analysts predict that Microchip Technology Incorporated will post 2.58 EPS for the current year.

Microchip Technology Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, June 5th. Shareholders of record on Friday, May 22nd were paid a $0.455 dividend. The ex-dividend date was Friday, May 22nd. This represents a $1.82 annualized dividend and a dividend yield of 1.8%. Microchip Technology’s payout ratio is presently 866.67%.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on MCHP shares. Barclays upped their target price on Microchip Technology from $80.00 to $105.00 and gave the company an “equal weight” rating in a report on Monday, May 11th. Needham & Company LLC lifted their price target on Microchip Technology from $84.00 to $120.00 and gave the stock a “buy” rating in a report on Friday, May 8th. Zacks Research raised Microchip Technology from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, May 12th. Truist Financial upped their price objective on Microchip Technology from $69.00 to $105.00 and gave the company a “hold” rating in a research note on Friday, May 8th. Finally, Citigroup raised their target price on Microchip Technology from $91.00 to $113.00 and gave the company a “buy” rating in a research report on Friday, May 8th. Four analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and seven have assigned a Hold rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $98.18.

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.