Microchip Technology Incorporated $MCHP Shares Sold by Dana Investment Advisors Inc.

Dana Investment Advisors Inc. lessened its stake in Microchip Technology Incorporated (NASDAQ:MCHP) by 35.0% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 61,735 shares of the semiconductor company’s stock after selling 33,297 shares during the period. Dana Investment Advisors Inc.’s holdings in Microchip Technology were worth $3,965,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

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

Insider Buying and Selling

In related news, CEO Steve Sanghi sold 98,814 shares of the stock in a transaction dated Wednesday, January 28th. The shares were sold at an average price of $80.55, for a total value of $7,959,467.70. Following the sale, the chief executive officer directly owned 9,922,319 shares of the company’s stock, valued at approximately $799,242,795.45. This represents a 0.99% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 1.94% of the company’s stock.

Wall Street Analyst Weigh In

MCHP has been the topic of a number of recent research reports. Wolfe Research set a $85.00 target price on shares of Microchip Technology in a report on Tuesday, January 6th. Rosenblatt Securities lifted their price objective on shares of Microchip Technology from $80.00 to $115.00 and gave the company a “buy” rating in a research note on Friday, February 6th. TD Cowen decreased their target price on shares of Microchip Technology from $65.00 to $60.00 and set a “hold” rating for the company in a research note on Friday, November 7th. Susquehanna raised their price target on Microchip Technology from $75.00 to $90.00 and gave the stock a “positive” rating in a report on Thursday, January 22nd. Finally, UBS Group upped their price objective on Microchip Technology from $85.00 to $95.00 and gave the company a “buy” rating in a research note on Monday, January 26th. Four research analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating and seven have assigned a Hold rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $86.00.

Microchip Technology Price Performance

MCHP stock opened at $75.93 on Wednesday. The company has a market cap of $41.09 billion, a price-to-earnings ratio of -261.83, a PEG ratio of 1.93 and a beta of 1.46. The company has a current ratio of 2.16, a quick ratio of 1.16 and a debt-to-equity ratio of 0.82. The firm has a 50 day moving average of $73.16 and a 200-day moving average of $66.35. Microchip Technology Incorporated has a 12-month low of $34.13 and a 12-month high of $83.35.

Microchip Technology (NASDAQ:MCHP) last issued its quarterly earnings data on Thursday, February 5th. The semiconductor company reported $0.44 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.43 by $0.01. The firm had revenue of $1.19 billion during the quarter, compared to analysts’ expectations of $1.19 billion. Microchip Technology had a positive return on equity of 7.16% and a negative net margin of 1.57%.Microchip Technology’s revenue was up 15.6% on a year-over-year basis. During the same period in the previous year, the firm posted $0.20 earnings per share. 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 EPS for the current fiscal year.

Microchip Technology Dividend Announcement

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