Boston Partners Reduces Holdings in Microchip Technology Incorporated $MCHP

Boston Partners trimmed its stake in Microchip Technology Incorporated (NASDAQ:MCHP) by 6.3% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 15,208,270 shares of the semiconductor company’s stock after selling 1,026,062 shares during the period. Microchip Technology accounts for about 1.0% of Boston Partners’ investment portfolio, making the stock its 13th biggest holding. Boston Partners owned about 2.81% of Microchip Technology worth $974,180,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of MCHP. AQR Capital Management LLC lifted its position in shares of Microchip Technology by 51.3% in the 1st 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 period. Geneos Wealth Management Inc. lifted its position in shares of Microchip Technology by 101.8% in the 1st quarter. Geneos Wealth Management Inc. now owns 1,221 shares of the semiconductor company’s stock worth $59,000 after purchasing an additional 616 shares during the period. Cresset Asset Management LLC lifted its position in shares of Microchip Technology by 5.4% in the 2nd quarter. Cresset Asset Management LLC now owns 11,433 shares of the semiconductor company’s stock worth $805,000 after purchasing an additional 589 shares during the period. AXA S.A. lifted its position in Microchip Technology by 21.3% during the 2nd quarter. AXA S.A. now owns 51,552 shares of the semiconductor company’s stock valued at $3,628,000 after acquiring an additional 9,043 shares during the period. Finally, Treasurer of the State of North Carolina lifted its position in Microchip Technology by 1.6% during the 2nd quarter. Treasurer of the State of North Carolina now owns 246,530 shares of the semiconductor company’s stock valued at $17,348,000 after acquiring an additional 3,851 shares during the period. 91.51% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Microchip Technology

In other news, CFO James Eric Bjornholt sold 3,667 shares of Microchip Technology stock in a transaction that occurred on Friday, May 22nd. The shares were sold at an average price of $90.87, for a total value of $333,220.29. Following the completion of the sale, the chief financial officer directly owned 28,573 shares in the company, valued at $2,596,428.51. The trade was a 11.37% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, COO Richard J. Simoncic sold 5,000 shares of Microchip Technology 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 completion of the sale, the chief operating officer owned 130,508 shares of the company’s stock, valued at $12,727,140.16. This represents a 3.69% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last three months, insiders have sold 553,302 shares of company stock valued at $49,673,635. Insiders own 1.94% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the stock. 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. Wells Fargo & Company lifted 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. Zacks Research raised shares of Microchip Technology from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, May 12th. JPMorgan Chase & Co. lifted their price target on shares of Microchip Technology from $95.00 to $120.00 and gave the company an “overweight” rating in a research report on Friday, May 8th. Finally, Citigroup lifted their price target on shares of Microchip Technology from $91.00 to $113.00 and gave the company a “buy” rating in a research report on Friday, May 8th. Four 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 stock. Based on data from MarketBeat.com, Microchip Technology has an average rating of “Moderate Buy” and an average price target of $98.18.

Microchip Technology Stock Up 2.5%

NASDAQ:MCHP opened at $95.24 on Friday. The firm has a market cap of $51.63 billion, a P/E ratio of 453.55, a P/E/G ratio of 0.98 and a beta of 1.73. The company has a debt-to-equity ratio of 0.85, a quick ratio of 1.18 and a current ratio of 2.09. Microchip Technology Incorporated has a fifty-two week low of $48.52 and a fifty-two week high of $105.91. The firm has a 50-day simple moving average of $87.85 and a two-hundred day simple moving average of $75.61.

Microchip Technology (NASDAQ:MCHP) last released its quarterly earnings data on Thursday, May 7th. The semiconductor company reported $0.57 earnings per share 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 business had revenue of $1.31 billion during the quarter, compared to analyst estimates of $1.26 billion. During the same period last year, the business earned $0.11 EPS. Microchip Technology’s 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. Analysts predict that Microchip Technology Incorporated will post 2.58 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. Stockholders of record on Friday, May 22nd were paid a $0.455 dividend. The ex-dividend date was Friday, May 22nd. This represents a $1.82 dividend on an annualized basis and a dividend yield of 1.9%. Microchip Technology’s payout ratio is currently 866.67%.

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.