Fox Run Management L.L.C. Purchases Shares of 44,617 Microchip Technology Incorporated $MCHP

Fox Run Management L.L.C. purchased a new position in Microchip Technology Incorporated (NASDAQ:MCHP) in the third quarter, HoldingsChannel reports. The institutional investor purchased 44,617 shares of the semiconductor company’s stock, valued at approximately $2,865,000. Microchip Technology makes up about 0.4% of Fox Run Management L.L.C.’s holdings, making the stock its 4th largest position.

Other large investors have also recently made changes to their positions in the company. Vanguard Group Inc. increased its position in shares of Microchip Technology by 2.1% in the 3rd quarter. Vanguard Group Inc. now owns 72,075,558 shares of the semiconductor company’s stock valued at $4,628,692,000 after acquiring an additional 1,507,554 shares during the period. State Street Corp lifted its position in Microchip Technology by 8.5% during the 2nd quarter. State Street Corp now owns 31,888,814 shares of the semiconductor company’s stock worth $2,244,016,000 after acquiring an additional 2,489,258 shares during the period. Invesco Ltd. grew its stake in Microchip Technology by 10.4% during the 2nd quarter. Invesco Ltd. now owns 18,452,546 shares of the semiconductor company’s stock valued at $1,298,506,000 after purchasing an additional 1,745,515 shares during the last quarter. Geode Capital Management LLC increased its holdings in shares of Microchip Technology by 2.4% in the second quarter. Geode Capital Management LLC now owns 14,842,341 shares of the semiconductor company’s stock valued at $1,040,544,000 after purchasing an additional 343,210 shares during the period. Finally, Boston Partners increased its holdings in shares of Microchip Technology by 38.2% in the second quarter. Boston Partners now owns 14,827,447 shares of the semiconductor company’s stock valued at $1,041,868,000 after purchasing an additional 4,101,034 shares during the period. 91.51% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Microchip Technology

In other Microchip Technology news, CEO Steve Sanghi sold 98,814 shares of the stock in a transaction that occurred 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 transaction, the chief executive officer owned 9,922,319 shares in the company, valued at approximately $799,242,795.45. This represents a 0.99% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 1.94% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts recently commented on MCHP shares. Zacks Research raised Microchip Technology from a “hold” rating to a “strong-buy” rating in a report on Monday, January 26th. Wolfe Research set a $85.00 price target on shares of Microchip Technology in a research report on Tuesday, January 6th. Bank of America raised shares of Microchip Technology from a “neutral” rating to a “buy” rating and set a $95.00 price objective on the stock in a report on Wednesday, January 28th. Needham & Company LLC increased their price objective on shares of Microchip Technology from $77.00 to $84.00 and gave the stock a “buy” rating in a research note on Friday, February 6th. Finally, UBS Group raised their target price on shares of Microchip Technology from $85.00 to $95.00 and gave the stock a “buy” rating in a report on Monday, January 26th. Four analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating and seven have given a Hold rating to the company’s stock. According to data from MarketBeat, Microchip Technology presently has a consensus rating of “Moderate Buy” and an average target price of $86.00.

Microchip Technology Price Performance

NASDAQ:MCHP opened at $75.93 on Wednesday. The company has a debt-to-equity ratio of 0.82, a current ratio of 2.16 and a quick ratio of 1.16. The company has a 50 day moving average price of $73.16 and a 200-day moving average price of $66.35. Microchip Technology Incorporated has a 1-year low of $34.13 and a 1-year high of $83.35. The firm has a market cap of $41.09 billion, a price-to-earnings ratio of -261.83, a price-to-earnings-growth ratio of 1.93 and a beta of 1.46.

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

Microchip Technology Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, March 10th. Investors of record on Monday, February 23rd will be issued a $0.455 dividend. The ex-dividend date of this dividend is Monday, February 23rd. This represents a $1.82 dividend on an annualized basis and a yield of 2.4%. Microchip Technology’s dividend payout ratio is presently -627.59%.

Microchip Technology 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.