Fideuram Intesa Sanpaolo Private Banking S.P.A. Lowers Holdings in Microchip Technology Incorporated $MCHP

Fideuram Intesa Sanpaolo Private Banking S.P.A. trimmed its position in Microchip Technology Incorporated (NASDAQ:MCHP) by 75.5% in the 1st quarter, Holdings Channel reports. The firm owned 3,973 shares of the semiconductor company’s stock after selling 12,252 shares during the quarter. Fideuram Intesa Sanpaolo Private Banking S.P.A.’s holdings in Microchip Technology were worth $257,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. EFG International AG bought a new position in Microchip Technology in the 4th quarter worth about $29,000. Miller Capital Partners Inc. purchased a new stake in shares of Microchip Technology in the 4th quarter valued at about $29,000. Reflection Asset Management bought a new stake in shares of Microchip Technology during the 4th quarter valued at about $33,000. Garton & Associates Financial Advisors LLC purchased a new position in shares of Microchip Technology during the fourth quarter worth about $33,000. Finally, Caitong International Asset Management Co. Ltd increased its position in shares of 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 worth $33,000 after purchasing an additional 513 shares during the last quarter. 91.51% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other Microchip Technology news, CFO James Eric Bjornholt sold 3,667 shares of Microchip Technology stock in a transaction on Friday, May 22nd. The stock was 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 owned 28,573 shares of the company’s stock, valued at approximately $2,596,428.51. This trade represents a 11.37% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Steve Sanghi sold 416,581 shares of the business’s stock in a transaction on Thursday, April 23rd. The stock was sold at an average price of $88.53, for a total value of $36,879,915.93. Following the completion of the transaction, the chief executive officer owned 9,495,805 shares of the company’s stock, valued at $840,663,616.65. This represents a 4.20% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 553,302 shares of company stock valued at $49,673,635 in the last quarter. Insiders own 1.94% of the company’s stock.

Microchip Technology Price Performance

MCHP opened at $84.64 on Monday. The company has a debt-to-equity ratio of 0.85, a quick ratio of 1.18 and a current ratio of 2.09. The stock’s 50 day moving average price is $93.79 and its 200-day moving average price is $79.15. The stock 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 Incorporated has a 52-week low of $48.52 and a 52-week high of $105.91.

Microchip Technology (NASDAQ:MCHP) last released its earnings results on Thursday, May 7th. The semiconductor company reported $0.57 EPS for the quarter, beating analysts’ consensus estimates of $0.50 by $0.07. The company 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 revenue for the quarter was up 35.1% compared to the same quarter last year. During the same quarter last year, the business posted $0.11 EPS. Microchip Technology has set its Q1 2027 guidance at 0.670-0.710 EPS. On average, equities research analysts predict that Microchip Technology Incorporated will post 2.66 EPS for the current year.

Microchip Technology Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, June 5th. Investors of record on Friday, May 22nd were given a dividend of $0.455 per share. The ex-dividend date of this dividend was Friday, May 22nd. This represents a $1.82 annualized dividend and a dividend yield of 2.2%. Microchip Technology’s dividend payout ratio (DPR) is 866.67%.

Analysts Set New Price Targets

Several equities research analysts have issued reports on MCHP shares. Susquehanna lifted their target price on shares of Microchip Technology from $95.00 to $120.00 and gave the company a “positive” rating in a research report on Friday, May 8th. Weiss Ratings raised shares of Microchip Technology from a “hold (c-)” rating to a “hold (c)” rating in a report on Thursday, June 4th. Zacks Research upgraded shares of Microchip Technology from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, May 12th. Wells Fargo & Company increased their target price on Microchip Technology from $75.00 to $95.00 and gave the company an “equal weight” rating in a research note on Friday, May 8th. Finally, Wall Street Zen upgraded Microchip Technology from a “hold” rating to a “buy” rating in a research report on Saturday, May 9th. Four equities research analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and seven have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target 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.