NEOS Investment Management LLC Has $15.73 Million Stock Position in Microchip Technology Incorporated $MCHP

NEOS Investment Management LLC grew its holdings in Microchip Technology Incorporated (NASDAQ:MCHP) by 68.1% in the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 244,937 shares of the semiconductor company’s stock after buying an additional 99,204 shares during the quarter. NEOS Investment Management LLC’s holdings in Microchip Technology were worth $15,730,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently bought and sold shares of MCHP. Norges Bank acquired a new position in Microchip Technology during the 2nd quarter worth about $473,320,000. Dodge & Cox increased its holdings in shares of Microchip Technology by 958.4% in the second quarter. Dodge & Cox now owns 6,339,800 shares of the semiconductor company’s stock worth $446,132,000 after acquiring an additional 5,740,827 shares in the last quarter. Boston Partners raised its holdings in shares of Microchip Technology by 38.2% during the second quarter. Boston Partners now owns 14,827,447 shares of the semiconductor company’s stock worth $1,041,868,000 after acquiring an additional 4,101,034 shares during the period. State Street Corp lifted its stake in Microchip Technology by 8.5% in the 2nd quarter. State Street Corp now owns 31,888,814 shares of the semiconductor company’s stock valued at $2,244,016,000 after acquiring an additional 2,489,258 shares in the last quarter. Finally, The Manufacturers Life Insurance Company boosted its stake in shares of Microchip Technology by 582.0% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 2,154,164 shares of the semiconductor company’s stock worth $151,589,000 after buying an additional 1,838,300 shares during the last quarter. 91.51% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on MCHP. Morgan Stanley boosted their price target on Microchip Technology from $68.00 to $69.00 and gave the stock an “equal weight” rating in a research report on Tuesday, January 6th. Barclays assumed coverage on Microchip Technology in a report on Thursday, February 12th. They set an “equal weight” rating and a $80.00 price target for the company. Bank of America upgraded Microchip Technology from a “neutral” rating to a “buy” rating and set a $95.00 price target on the stock in a report on Wednesday, January 28th. KeyCorp reiterated an “overweight” rating and issued a $85.00 target price on shares of Microchip Technology in a report on Friday, February 6th. Finally, Stifel Nicolaus set a $90.00 target price on shares of Microchip Technology in a research report on Friday, February 6th. Four analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and seven have issued a Hold rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $86.00.

Insider Transactions at Microchip Technology

In related news, CFO James Eric Bjornholt sold 4,292 shares of the firm’s stock in a transaction that occurred on Tuesday, November 25th. The shares were sold at an average price of $50.39, for a total value of $216,273.88. Following the sale, the chief financial officer directly owned 30,089 shares of the company’s stock, valued at $1,516,184.71. This trade represents a 12.48% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Steve Sanghi sold 98,814 shares of the company’s stock in a transaction on Wednesday, January 28th. The stock was sold at an average price of $80.55, for a total transaction of $7,959,467.70. Following the completion of the transaction, the chief executive officer owned 9,922,319 shares of the company’s stock, valued at $799,242,795.45. This trade represents a 0.99% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders have sold 121,615 shares of company stock valued at $9,641,654. Corporate insiders own 1.94% of the company’s stock.

Microchip Technology Stock Up 0.5%

MCHP opened at $78.94 on Wednesday. Microchip Technology Incorporated has a twelve month low of $34.13 and a twelve month high of $83.35. The company has a quick ratio of 1.16, a current ratio of 2.16 and a debt-to-equity ratio of 0.82. The company’s 50-day moving average price is $72.18 and its two-hundred day moving average price is $65.94. The stock has a market cap of $42.72 billion, a price-to-earnings ratio of -272.21, a PEG ratio of 1.98 and a beta of 1.46.

Microchip Technology (NASDAQ:MCHP) last announced its quarterly earnings data on Thursday, February 5th. The semiconductor company reported $0.44 earnings per share for the quarter, topping the consensus estimate of $0.43 by $0.01. The company had revenue of $1.19 billion during the quarter, compared to analyst estimates of $1.19 billion. Microchip Technology had a positive return on equity of 7.16% and a negative net margin of 1.57%.The firm’s revenue for the quarter was up 15.6% on a year-over-year basis. During the same quarter last year, the firm posted $0.20 EPS. Microchip Technology has set its Q4 2026 guidance at 0.480-0.520 EPS. As a group, equities analysts expect that Microchip Technology Incorporated will post 1.03 earnings per share for the current year.

Microchip Technology Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, March 10th. Shareholders of record on Monday, February 23rd will be issued a $0.455 dividend. This represents a $1.82 annualized dividend and a yield of 2.3%. The ex-dividend date of this dividend is Monday, February 23rd. Microchip Technology’s dividend payout ratio (DPR) is presently -627.59%.

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.