Microchip Technology Incorporated $MCHP Shares Sold by Leonteq Securities AG

Leonteq Securities AG lessened its stake in shares of Microchip Technology Incorporated (NASDAQ:MCHP) by 57.1% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 6,606 shares of the semiconductor company’s stock after selling 8,791 shares during the period. Leonteq Securities AG’s holdings in Microchip Technology were worth $427,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently modified their holdings of the company. EFG International AG acquired a new stake in shares of Microchip Technology during the 4th quarter worth approximately $29,000. Miller Capital Partners Inc. acquired a new position in Microchip Technology in the fourth quarter valued at approximately $29,000. Garton & Associates Financial Advisors LLC acquired a new position in Microchip Technology in the fourth quarter valued at approximately $33,000. Reflection Asset Management purchased a new position in Microchip Technology in the fourth quarter worth approximately $33,000. Finally, Caitong International Asset Management Co. Ltd increased its stake in 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 acquiring an additional 513 shares during the last quarter. Hedge funds and other institutional investors own 91.51% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on MCHP. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $125.00 price target on shares of Microchip Technology in a research note on Wednesday, May 13th. Truist Financial raised their price objective on Microchip Technology from $69.00 to $105.00 and gave the stock a “hold” rating in a research report on Friday, May 8th. JPMorgan Chase & Co. boosted their price objective on shares of Microchip Technology from $95.00 to $120.00 and gave the company an “overweight” rating in a report on Friday, May 8th. Needham & Company LLC upped their target price on shares of Microchip Technology from $84.00 to $120.00 and gave the company a “buy” rating in a research report on Friday, May 8th. Finally, Susquehanna increased their target price on shares of Microchip Technology from $95.00 to $120.00 and gave the stock a “positive” rating in a research note on Friday, May 8th. Four equities research analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and seven have given a Hold rating to the company’s stock. According to data from MarketBeat.com, Microchip Technology presently has a consensus rating of “Moderate Buy” and a consensus target price of $98.18.

Microchip Technology Stock Performance

MCHP opened at $84.64 on Monday. Microchip Technology Incorporated has a 52 week low of $48.52 and a 52 week high of $105.91. The company has a quick ratio of 1.18, a current ratio of 2.09 and a debt-to-equity ratio of 0.85. The business has a fifty day simple moving average of $93.79 and a 200-day simple moving average of $79.15. The firm has a market cap of $45.88 billion, a P/E ratio of 403.07, a P/E/G 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 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.50 by $0.07. Microchip Technology had a return on equity of 10.87% and a net margin of 4.88%.The firm had revenue of $1.31 billion for the quarter, compared to the consensus estimate of $1.26 billion. During the same quarter in the previous year, the business earned $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. On average, equities analysts expect that Microchip Technology Incorporated will post 2.66 earnings per share for the current year.

Microchip Technology Dividend Announcement

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

Insider Buying and Selling at Microchip Technology

In related news, CEO Steve Sanghi sold 76,469 shares of the company’s stock in a transaction that occurred 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 sale, the chief executive officer directly owned 9,385,834 shares of the company’s stock, valued at $878,326,345.72. This represents a 0.81% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, COO Richard J. Simoncic sold 5,000 shares of the 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 in the company, valued at approximately $12,727,140.16. This trade represents a 3.69% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 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.

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.