Davis R M Inc. Trims Position in Microchip Technology Incorporated $MCHP

Davis R M Inc. lowered its position in shares of Microchip Technology Incorporated (NASDAQ:MCHP) by 26.2% during the third quarter, Holdings Channel reports. The fund owned 174,706 shares of the semiconductor company’s stock after selling 62,165 shares during the quarter. Davis R M Inc.’s holdings in Microchip Technology were worth $11,220,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. AQR Capital Management LLC boosted its holdings in shares of Microchip Technology by 51.3% during the first quarter. AQR Capital Management LLC now owns 17,201 shares of the semiconductor company’s stock worth $827,000 after purchasing an additional 5,835 shares during the last quarter. Geneos Wealth Management Inc. lifted its position in Microchip Technology by 101.8% during the first quarter. Geneos Wealth Management Inc. now owns 1,221 shares of the semiconductor company’s stock worth $59,000 after buying an additional 616 shares during the period. Arkadios Wealth Advisors boosted its stake in Microchip Technology by 191.9% in the 2nd quarter. Arkadios Wealth Advisors now owns 15,563 shares of the semiconductor company’s stock worth $1,095,000 after buying an additional 10,232 shares during the last quarter. Hantz Financial Services Inc. grew its holdings in Microchip Technology by 24.3% in the 2nd quarter. Hantz Financial Services Inc. now owns 7,816 shares of the semiconductor company’s stock valued at $550,000 after buying an additional 1,527 shares during the period. Finally, Savvy Advisors Inc. acquired a new position in shares of Microchip Technology during the 2nd quarter valued at about $388,000. 91.51% of the stock is owned by hedge funds and other institutional investors.

Microchip Technology Trading Down 0.4%

NASDAQ MCHP opened at $74.64 on Monday. The company’s fifty day moving average price is $73.81 and its two-hundred day moving average price is $66.59. The company has a market capitalization of $40.39 billion, a price-to-earnings ratio of -257.38, a price-to-earnings-growth ratio of 1.88 and a beta of 1.45. Microchip Technology Incorporated has a 12 month low of $34.13 and a 12 month high of $83.35. The company has a debt-to-equity ratio of 0.82, a current ratio of 2.16 and a quick ratio of 1.16.

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

Microchip Technology Announces Dividend

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 issued a $0.455 dividend. This represents a $1.82 dividend on an annualized basis and a dividend yield of 2.4%. The ex-dividend date is Monday, February 23rd. Microchip Technology’s payout ratio is -627.59%.

Insider Activity

In related news, CEO Steve Sanghi sold 98,814 shares of the firm’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 transaction, the chief executive officer directly owned 9,922,319 shares in the company, valued at $799,242,795.45. This trade represents a 0.99% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available 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 issued reports on MCHP shares. TD Cowen lowered their target price on shares of Microchip Technology from $65.00 to $60.00 and set a “hold” rating for the company in a report on Friday, November 7th. UBS Group boosted their price objective on shares of Microchip Technology from $85.00 to $95.00 and gave the company a “buy” rating in a research note on Monday, January 26th. Argus raised Microchip Technology to a “strong-buy” rating in a research report on Monday, February 9th. Cantor Fitzgerald boosted their price target on Microchip Technology from $85.00 to $100.00 and gave the company an “overweight” rating in a research report on Monday, February 2nd. Finally, Weiss Ratings upgraded Microchip Technology from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Friday, February 6th. Three analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating and eight have issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $86.00.

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.