Rockefeller Capital Management L.P. Raises Stock Holdings in Microchip Technology Incorporated $MCHP

Rockefeller Capital Management L.P. raised its position in shares of Microchip Technology Incorporated (NASDAQ:MCHP) by 20.3% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 45,986 shares of the semiconductor company’s stock after buying an additional 7,765 shares during the period. Rockefeller Capital Management L.P.’s holdings in Microchip Technology were worth $2,930,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in MCHP. Norges Bank bought a new position in shares of Microchip Technology during the fourth quarter valued at about $664,564,000. Barclays PLC increased its holdings in Microchip Technology by 66.5% during the 4th quarter. Barclays PLC now owns 13,996,883 shares of the semiconductor company’s stock valued at $891,881,000 after purchasing an additional 5,590,210 shares during the period. Barrow Hanley Mewhinney & Strauss LLC increased its holdings in Microchip Technology by 25.7% during the 3rd quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 11,048,057 shares of the semiconductor company’s stock valued at $709,506,000 after purchasing an additional 2,257,932 shares during the period. Holocene Advisors LP raised its position in Microchip Technology by 77.0% during the 3rd quarter. Holocene Advisors LP now owns 4,709,538 shares of the semiconductor company’s stock valued at $302,447,000 after purchasing an additional 2,049,249 shares during the last quarter. Finally, Rafferty Asset Management LLC raised its position in Microchip Technology by 41.0% during the 2nd quarter. Rafferty Asset Management LLC now owns 6,203,762 shares of the semiconductor company’s stock valued at $436,559,000 after purchasing an additional 1,803,945 shares during the last quarter. Institutional investors own 91.51% of the company’s stock.

Insider Buying and Selling at Microchip Technology

In other Microchip Technology news, COO Richard J. Simoncic sold 5,000 shares of the firm’s stock in a transaction that occurred on Thursday, June 4th. The shares were sold at an average price of $97.52, for a total transaction of $487,600.00. Following the completion of the transaction, the chief operating officer owned 130,508 shares of the company’s stock, valued at approximately $12,727,140.16. This trade represents a 3.69% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Matthew W. Chapman sold 3,000 shares of Microchip Technology stock in a transaction that occurred on Thursday, May 28th. The shares were sold at an average price of $97.52, for a total transaction of $292,560.00. Following the transaction, the director owned 17,665 shares of the company’s stock, valued at $1,722,690.80. The trade was a 14.52% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders sold 553,302 shares of company stock worth $49,673,635. Insiders own 1.94% of the company’s stock.

Wall Street Analyst Weigh In

MCHP has been the topic of a number of recent analyst reports. Wells Fargo & Company lifted their price objective on Microchip Technology from $75.00 to $95.00 and gave the stock an “equal weight” rating in a research report on Friday, May 8th. Cantor Fitzgerald restated an “overweight” rating and set a $125.00 target price on shares of Microchip Technology in a report on Wednesday, May 13th. JPMorgan Chase & Co. raised their price target on Microchip Technology from $95.00 to $120.00 and gave the stock an “overweight” rating in a research note on Friday, May 8th. Weiss Ratings upgraded shares of Microchip Technology from a “hold (c-)” rating to a “hold (c)” rating in a report on Thursday, June 4th. Finally, Wall Street Zen raised shares of Microchip Technology from a “hold” rating to a “buy” rating in a research report on Saturday, May 9th. Four research analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and seven have issued a Hold rating to the company. According to data from MarketBeat, Microchip Technology has an average rating of “Moderate Buy” and a consensus price target of $98.18.

Microchip Technology Stock Performance

MCHP opened at $87.93 on Monday. The company has a quick ratio of 1.18, a current ratio of 2.09 and a debt-to-equity ratio of 0.85. Microchip Technology Incorporated has a 52 week low of $48.52 and a 52 week high of $105.91. The stock has a market cap of $47.67 billion, a PE ratio of 418.73, a PEG ratio of 0.90 and a beta of 1.73. The business has a 50 day moving average of $93.01 and a 200-day moving average of $78.45.

Microchip Technology (NASDAQ:MCHP) last issued its quarterly earnings results on Thursday, May 7th. The semiconductor company reported $0.57 earnings per share for the quarter, topping the consensus estimate of $0.50 by $0.07. Microchip Technology had a return on equity of 10.87% and a net margin of 4.88%.The company had revenue of $1.31 billion for the quarter, compared to analysts’ expectations of $1.26 billion. During the same period in the prior year, the firm earned $0.11 earnings per share. The firm’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. Equities research analysts predict that Microchip Technology Incorporated will post 2.66 earnings per share for the current fiscal year.

Microchip Technology Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 5th. Investors of record on Friday, May 22nd were paid a dividend of $0.455 per share. The ex-dividend date of this dividend was Friday, May 22nd. This represents a $1.82 annualized dividend and a yield of 2.1%. Microchip Technology’s payout ratio is presently 866.67%.

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.