Fort Washington Investment Advisors Inc. OH Buys 27,127 Shares of Microchip Technology Incorporated $MCHP

Fort Washington Investment Advisors Inc. OH grew its position in Microchip Technology Incorporated (NASDAQ:MCHP) by 4.9% in the first quarter, according to its most recent filing with the SEC. The fund owned 580,915 shares of the semiconductor company’s stock after acquiring an additional 27,127 shares during the period. Fort Washington Investment Advisors Inc. OH owned 0.11% of Microchip Technology worth $37,533,000 as of its most recent filing with the SEC.

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

Analysts Set New Price Targets

Several research analysts have recently issued reports on MCHP shares. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $125.00 price objective on shares of Microchip Technology in a research note on Wednesday, May 13th. Zacks Research raised shares of Microchip Technology from a “hold” rating to a “strong-buy” rating in a report on Tuesday, May 12th. JPMorgan Chase & Co. upped 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. Rosenblatt Securities raised their price target on shares of Microchip Technology from $115.00 to $120.00 and gave the company a “buy” rating in a research note on Friday, May 8th. Finally, Weiss Ratings upgraded shares of Microchip Technology from a “hold (c-)” rating to a “hold (c)” rating in a report on Thursday, June 4th. Four research analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and seven have assigned a Hold rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $98.18.

Microchip Technology Trading Down 6.6%

Shares of MCHP stock opened at $87.93 on Friday. Microchip Technology Incorporated has a 1-year low of $48.52 and a 1-year high of $105.91. 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 stock has a market cap of $47.67 billion, a price-to-earnings ratio of 418.73, a PEG ratio of 0.90 and a beta of 1.73. The stock has a 50-day moving average of $93.01 and a 200-day moving average of $78.37.

Microchip Technology (NASDAQ:MCHP) last posted its quarterly earnings data on Thursday, May 7th. The semiconductor company reported $0.57 EPS for the quarter, topping analysts’ consensus estimates 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 analyst estimates of $1.26 billion. During the same period in the previous year, the firm earned $0.11 earnings per share. The firm’s quarterly revenue was up 35.1% on a year-over-year basis. Microchip Technology has set its Q1 2027 guidance at 0.670-0.710 EPS. On average, equities research analysts forecast that Microchip Technology Incorporated will post 2.66 earnings per share for the current year.

Microchip Technology Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, June 5th. Stockholders of record on Friday, May 22nd were given 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 2.1%. Microchip Technology’s payout ratio is 866.67%.

Insider Activity

In related news, CFO James Eric Bjornholt sold 3,667 shares of Microchip Technology stock in a transaction on Friday, May 22nd. The shares were 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 owned 28,573 shares of the company’s stock, valued at $2,596,428.51. This trade represents a 11.37% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Steve Sanghi sold 76,469 shares of the business’s stock in a transaction on Friday, May 1st. The shares were sold at an average price of $93.58, for a total transaction of $7,155,969.02. Following the completion of the transaction, the chief executive officer owned 9,385,834 shares in the company, valued at approximately $878,326,345.72. The trade was a 0.81% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders sold 553,302 shares of company stock valued at $49,673,635. 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.