Elevation Point Wealth Partners LLC Takes Position in Microchip Technology Incorporated $MCHP

Elevation Point Wealth Partners LLC bought a new stake in shares of Microchip Technology Incorporated (NASDAQ:MCHP) in the 1st quarter, Holdings Channel.com reports. The firm bought 22,775 shares of the semiconductor company’s stock, valued at approximately $1,471,000.

A number of other hedge funds have also recently bought and sold shares of MCHP. Wolverine Asset Management LLC raised its position in shares of Microchip Technology by 3,833.7% during the fourth quarter. Wolverine Asset Management LLC now owns 37,921 shares of the semiconductor company’s stock worth $2,416,000 after purchasing an additional 36,957 shares during the period. Vienna Powszechne Towarzystwo Emerytalne S.A. Vienna Insurance Group acquired a new position in shares of Microchip Technology in the 4th quarter valued at $6,691,000. Natixis Advisors LLC boosted its position in shares of Microchip Technology by 18.7% in the 3rd quarter. Natixis Advisors LLC now owns 1,233,018 shares of the semiconductor company’s stock valued at $79,184,000 after purchasing an additional 194,048 shares during the period. Peregrine Investment Management Inc. purchased a new position in Microchip Technology in the 1st quarter worth about $5,492,000. Finally, Epoch Investment Partners Inc. increased its stake in Microchip Technology by 16.5% in the 4th quarter. Epoch Investment Partners Inc. now owns 1,349,136 shares of the semiconductor company’s stock worth $85,967,000 after purchasing an additional 191,339 shares in the last quarter. 91.51% of the stock is owned by institutional investors and hedge funds.

Microchip Technology Stock Performance

NASDAQ MCHP opened at $84.64 on Monday. Microchip Technology Incorporated has a 1-year low of $48.52 and a 1-year high of $105.91. The firm’s fifty day simple moving average is $93.79 and its 200-day simple moving average is $79.15. The company has a current ratio of 2.09, a quick ratio of 1.18 and a debt-to-equity ratio of 0.85. The company has a market capitalization of $45.88 billion, a PE ratio of 403.07, a price-to-earnings-growth ratio of 0.87 and a beta of 1.74.

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

Microchip Technology Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, June 5th. Shareholders of record on Friday, May 22nd were given a $0.455 dividend. The ex-dividend date of this dividend was Friday, May 22nd. This represents a $1.82 dividend on an annualized basis and a dividend yield of 2.2%. Microchip Technology’s payout ratio is currently 866.67%.

Insider Buying and Selling

In related news, Director Matthew W. Chapman sold 3,000 shares of the business’s stock in a transaction dated Thursday, May 28th. The stock was sold at an average price of $97.52, for a total transaction of $292,560.00. Following the completion of the transaction, the director owned 17,665 shares of the company’s stock, valued at approximately $1,722,690.80. The trade was a 14.52% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Steve Sanghi sold 76,469 shares of the company’s stock in a transaction that occurred on Friday, May 1st. The stock was sold at an average price of $93.58, for a total value of $7,155,969.02. Following the transaction, the chief executive officer owned 9,385,834 shares of the company’s stock, valued at approximately $878,326,345.72. This trade represents a 0.81% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 553,302 shares of company stock worth $49,673,635 over the last ninety days. Company insiders own 1.94% of the company’s stock.

Wall Street Analyst Weigh In

MCHP has been the subject of a number of analyst reports. Susquehanna upped their price objective on shares of Microchip Technology from $95.00 to $120.00 and gave the company a “positive” rating in a research note on Friday, May 8th. Weiss Ratings raised shares of Microchip Technology from a “hold (c-)” rating to a “hold (c)” rating in a research report on Thursday, June 4th. Wall Street Zen upgraded shares of Microchip Technology from a “hold” rating to a “buy” rating in a report on Saturday, May 9th. Wells Fargo & Company upped their price target on shares of Microchip Technology from $75.00 to $95.00 and gave the company an “equal weight” rating in a research report on Friday, May 8th. Finally, Barclays raised their price objective on shares of 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 analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating and seven have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $98.18.

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.