Greenwood Capital Associates LLC Makes New $1.27 Million Investment in Microchip Technology Incorporated $MCHP

Greenwood Capital Associates LLC acquired a new stake in Microchip Technology Incorporated (NASDAQ:MCHP) during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 19,681 shares of the semiconductor company’s stock, valued at approximately $1,272,000.

Several other hedge funds also recently bought and sold shares of the stock. EFG International AG purchased a new position in shares of Microchip Technology during the 4th quarter worth approximately $29,000. Miller Capital Partners Inc. acquired a new position in Microchip Technology during the 4th quarter worth $29,000. Reflection Asset Management acquired a new position in shares of Microchip Technology during the fourth quarter worth about $33,000. Garton & Associates Financial Advisors LLC purchased a new stake in shares of Microchip Technology in the 4th quarter valued at approximately $33,000. Finally, Caitong International Asset Management Co. Ltd increased its holdings in Microchip Technology by 4,663.6% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 524 shares of the semiconductor company’s stock valued at $33,000 after buying an additional 513 shares during the last quarter. Hedge funds and other institutional investors own 91.51% of the company’s stock.

Microchip Technology Price Performance

MCHP stock opened at $88.26 on Friday. The stock’s fifty day simple moving average is $93.67 and its 200-day simple moving average is $79.76. 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 capitalization of $47.93 billion, a price-to-earnings ratio of 420.31, a price-to-earnings-growth ratio of 0.87 and a beta of 1.74.

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

Microchip Technology Dividend Announcement

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

Wall Street Analyst Weigh In

Several equities analysts have commented on MCHP shares. Wells Fargo & Company increased 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 note on Friday, May 8th. Truist Financial upped their price objective on Microchip Technology from $69.00 to $105.00 and gave the company a “hold” 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 research report on Thursday, June 4th. JPMorgan Chase & Co. raised their price target on Microchip Technology from $95.00 to $120.00 and gave the company an “overweight” rating in a report on Friday, May 8th. Finally, UBS Group reissued a “buy” rating on shares of Microchip Technology in a report on Tuesday, June 2nd. Four analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating and seven have assigned a Hold rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $98.67.

Insider Transactions at Microchip Technology

In related news, Director Matthew W. Chapman sold 3,000 shares of the 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 completion of the sale, the director owned 17,665 shares of the company’s stock, valued at approximately $1,722,690.80. This represents a 14.52% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Richard J. Simoncic sold 5,000 shares of the business’s stock in a transaction that occurred on Thursday, June 4th. The stock was sold at an average price of $97.52, for a total transaction of $487,600.00. Following the sale, the chief operating officer owned 130,508 shares of the company’s stock, valued at approximately $12,727,140.16. This represents a 3.69% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 553,302 shares of company stock worth $49,673,635 over the last 90 days. Company insiders own 1.94% of the company’s stock.

Microchip Technology 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.