Deltec Asset Management LLC Makes New $678,000 Investment in Microchip Technology Incorporated $MCHP

Deltec Asset Management LLC bought a new stake in shares of Microchip Technology Incorporated (NASDAQ:MCHP) in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund bought 10,500 shares of the semiconductor company’s stock, valued at approximately $678,000.

Several other institutional investors have also recently made changes to their positions in the company. Norges Bank bought a new position in Microchip Technology in the 4th quarter worth about $664,564,000. Barclays PLC raised its position in shares of 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 buying an additional 5,590,210 shares in the last quarter. Barrow Hanley Mewhinney & Strauss LLC lifted its holdings in shares of 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 worth $709,506,000 after acquiring an additional 2,257,932 shares during the last quarter. Holocene Advisors LP lifted its holdings in shares of Microchip Technology by 77.0% during the 3rd quarter. Holocene Advisors LP now owns 4,709,538 shares of the semiconductor company’s stock worth $302,447,000 after acquiring an additional 2,049,249 shares during the last quarter. Finally, Rafferty Asset Management LLC grew its position in Microchip Technology by 41.0% in the second quarter. Rafferty Asset Management LLC now owns 6,203,762 shares of the semiconductor company’s stock worth $436,559,000 after acquiring an additional 1,803,945 shares in the last quarter. Institutional investors own 91.51% of the company’s stock.

Insider Activity at Microchip Technology

In other Microchip Technology news, Director Matthew W. Chapman sold 10,000 shares of the company’s stock in a transaction on Friday, May 15th. The shares were sold at an average price of $95.48, for a total value of $954,800.00. Following the completion of the transaction, the director directly owned 20,665 shares in the company, valued at approximately $1,973,094.20. This represents a 32.61% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO James Eric Bjornholt sold 3,667 shares of the stock in a transaction dated Friday, May 22nd. The stock was sold at an average price of $90.87, for a total transaction of $333,220.29. Following the completion of the transaction, the chief financial officer directly owned 28,573 shares of the company’s stock, valued at approximately $2,596,428.51. The trade was a 11.37% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 553,302 shares of company stock valued at $49,673,635 in the last 90 days. 1.94% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on the company. Weiss Ratings upgraded Microchip Technology from a “hold (c-)” rating to a “hold (c)” rating in a research report on Thursday, June 4th. Needham & Company LLC increased their price objective on Microchip Technology from $84.00 to $120.00 and gave the company a “buy” rating in a research report on Friday, May 8th. JPMorgan Chase & Co. raised their price objective on Microchip Technology from $95.00 to $120.00 and gave the company an “overweight” rating in a report on Friday, May 8th. Cantor Fitzgerald restated an “overweight” rating and issued a $125.00 target price on shares of Microchip Technology in a research report on Wednesday, May 13th. Finally, Barclays upped their target price on Microchip Technology from $80.00 to $105.00 and gave the stock an “equal weight” rating in a research note on Monday, May 11th. Four research analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and seven have assigned a Hold rating to the company. According to data from MarketBeat, Microchip Technology has a consensus rating of “Moderate Buy” and a consensus price target of $98.18.

Microchip Technology Trading Down 2.8%

Shares of MCHP opened at $88.69 on Thursday. The stock has a market capitalization of $48.08 billion, a P/E ratio of 422.35, a PEG ratio of 0.93 and a beta of 1.74. Microchip Technology Incorporated has a twelve month low of $48.52 and a twelve month high of $105.91. The company has a quick ratio of 1.18, a current ratio of 2.09 and a debt-to-equity ratio of 0.85. The firm has a fifty day simple moving average of $93.67 and a two-hundred day simple moving average of $78.91.

Microchip Technology (NASDAQ:MCHP) last released its quarterly earnings data on Thursday, May 7th. The semiconductor company reported $0.57 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.50 by $0.07. The firm had revenue of $1.31 billion for the quarter, compared to analysts’ expectations of $1.26 billion. Microchip Technology had a net margin of 4.88% and a return on equity of 10.87%. The company’s revenue for the quarter was up 35.1% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.11 earnings per share. Microchip Technology has set its Q1 2027 guidance at 0.670-0.710 EPS. On average, research analysts anticipate that Microchip Technology Incorporated will post 2.66 EPS for the current year.

Microchip Technology Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 5th. Stockholders of record on Friday, May 22nd were given a $0.455 dividend. This represents a $1.82 dividend on an annualized basis and a dividend yield of 2.1%. The ex-dividend date was Friday, May 22nd. Microchip Technology’s dividend payout ratio (DPR) is currently 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.