Villere ST Denis J & Co. LLC Sells 15,500 Shares of Microchip Technology Incorporated $MCHP

Villere ST Denis J & Co. LLC reduced its stake in Microchip Technology Incorporated (NASDAQ:MCHP) by 4.4% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 339,517 shares of the semiconductor company’s stock after selling 15,500 shares during the quarter. Microchip Technology comprises approximately 2.4% of Villere ST Denis J & Co. LLC’s portfolio, making the stock its 21st biggest holding. Villere ST Denis J & Co. LLC owned approximately 0.06% of Microchip Technology worth $21,936,000 as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. Resonant Capital Advisors LLC grew its position in Microchip Technology by 0.9% in the first quarter. Resonant Capital Advisors LLC now owns 12,542 shares of the semiconductor company’s stock worth $810,000 after acquiring an additional 118 shares in the last quarter. MCF Advisors LLC boosted its holdings in shares of 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 purchasing an additional 135 shares in the last quarter. Gagnon Securities LLC increased its position in shares of Microchip Technology by 0.5% during the 4th quarter. Gagnon Securities LLC now owns 27,162 shares of the semiconductor company’s stock valued at $1,731,000 after purchasing an additional 137 shares during the last quarter. Evelyn Partners Investment Management LLP increased its position in shares of Microchip Technology by 1.5% during the 4th quarter. Evelyn Partners Investment Management LLP now owns 9,300 shares of the semiconductor company’s stock valued at $593,000 after purchasing an additional 140 shares during the last quarter. Finally, Millstone Evans Group LLC lifted its position in Microchip Technology by 23.7% in the 4th quarter. Millstone Evans Group LLC now owns 742 shares of the semiconductor company’s stock worth $47,000 after buying an additional 142 shares during the last quarter. 91.51% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In related news, COO Richard J. Simoncic sold 5,000 shares of the firm’s stock in a transaction on Thursday, June 4th. The stock was sold at an average price of $97.52, for a total value of $487,600.00. Following the completion of the sale, the chief operating officer owned 130,508 shares of the company’s stock, valued at $12,727,140.16. This trade represents a 3.69% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Steve Sanghi sold 76,469 shares of Microchip Technology stock in a transaction on Friday, May 1st. The shares were sold at an average price of $93.58, for a total transaction of $7,155,969.02. Following the completion of the sale, the chief executive officer owned 9,385,834 shares in the company, valued at approximately $878,326,345.72. This trade represents a 0.81% decrease in their position. 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 have sold a total of 553,302 shares of company stock valued at $49,673,635 in the last 90 days. 1.94% of the stock is owned by corporate insiders.

Microchip Technology Trading Up 0.4%

Microchip Technology stock traded up $0.33 during trading hours on Friday, reaching $88.59. The stock had a trading volume of 6,677,420 shares, compared to its average volume of 11,773,885. The stock has a market cap of $48.11 billion, a PE ratio of 421.88, a PEG ratio of 0.90 and a beta of 1.74. 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 current ratio of 2.09 and a quick ratio of 1.18. The company has a fifty day simple moving average of $93.64 and a 200-day simple moving average of $79.82.

Microchip Technology (NASDAQ:MCHP) last posted its earnings results on Thursday, May 7th. The semiconductor company reported $0.57 earnings per share 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 during the quarter, compared to analyst estimates of $1.26 billion. During the same period in the prior year, the business posted $0.11 earnings per share. Microchip Technology’s revenue for the quarter was up 35.1% on a year-over-year basis. Microchip Technology has set its Q1 2027 guidance at 0.670-0.710 EPS. Analysts forecast that Microchip Technology Incorporated will post 2.66 EPS for the current fiscal year.

Microchip Technology Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 5th. Stockholders of record on Friday, May 22nd were given a $0.455 dividend. This represents a $1.82 dividend on an annualized basis and a dividend yield of 2.1%. The ex-dividend date was Friday, May 22nd. Microchip Technology’s dividend payout ratio (DPR) is currently 866.67%.

Analysts Set New Price Targets

Several analysts have issued reports on MCHP shares. Needham & Company LLC upped their target price on Microchip Technology from $84.00 to $120.00 and gave the stock a “buy” rating in a research note on Friday, May 8th. Truist Financial upped their price objective on shares of Microchip Technology from $69.00 to $105.00 and gave the company a “hold” rating in a research note on Friday, May 8th. Susquehanna boosted their price target on shares of Microchip Technology from $95.00 to $120.00 and gave the stock a “positive” rating in a research note on Friday, May 8th. Wells Fargo & Company raised their price objective on Microchip Technology from $75.00 to $95.00 and gave the company an “equal weight” rating in a research note on Friday, May 8th. Finally, Zacks Research raised Microchip Technology from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, May 12th. Four analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating and seven have assigned a Hold rating to the company. According to MarketBeat.com, Microchip Technology presently has a consensus rating of “Moderate Buy” and a consensus price target of $98.67.

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.