Allstate Corp Takes $1.27 Million Position in Microchip Technology Incorporated $MCHP

Allstate Corp bought a new position in Microchip Technology Incorporated (NASDAQ:MCHP) during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 19,710 shares of the semiconductor company’s stock, valued at approximately $1,266,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of MCHP. Parsons Capital Management Inc. RI purchased a new position in shares of Microchip Technology during the second quarter valued at approximately $280,000. Mizuho Markets Cayman LP bought a new position in Microchip Technology during the 2nd quarter valued at approximately $107,584,000. Boston Partners raised its stake in Microchip Technology by 38.0% during the second quarter. Boston Partners now owns 14,802,525 shares of the semiconductor company’s stock valued at $1,040,114,000 after buying an additional 4,076,112 shares during the last quarter. Assenagon Asset Management S.A. boosted its holdings in Microchip Technology by 498.0% in the third quarter. Assenagon Asset Management S.A. now owns 2,034,797 shares of the semiconductor company’s stock worth $130,675,000 after acquiring an additional 1,694,533 shares in the last quarter. Finally, Voya Investment Management LLC grew its stake in shares of Microchip Technology by 37.2% in the third quarter. Voya Investment Management LLC now owns 3,361,581 shares of the semiconductor company’s stock worth $215,881,000 after acquiring an additional 911,731 shares during the last quarter. Institutional investors own 91.51% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on MCHP shares. Needham & Company LLC lifted their price target on Microchip Technology from $75.00 to $77.00 and gave the stock a “buy” rating in a research report on Tuesday, January 6th. Cantor Fitzgerald upgraded shares of Microchip Technology from a “neutral” rating to an “overweight” rating and raised their price objective for the company from $65.00 to $85.00 in a research note on Tuesday, December 16th. Wells Fargo & Company upped their target price on shares of Microchip Technology from $58.00 to $68.00 and gave the stock an “equal weight” rating in a research note on Wednesday, January 7th. Citigroup raised their price target on shares of Microchip Technology from $80.00 to $92.00 and gave the company a “buy” rating in a research report on Thursday, January 15th. Finally, Truist Financial restated a “hold” rating and issued a $60.00 price objective (down from $64.00) on shares of Microchip Technology in a report on Friday, November 7th. One research analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, six have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, Microchip Technology presently has an average rating of “Moderate Buy” and a consensus price target of $79.38.

Insiders Place Their Bets

In other Microchip Technology news, CFO James Eric Bjornholt sold 4,292 shares of the firm’s stock in a transaction dated Tuesday, November 25th. The stock was sold at an average price of $50.39, for a total transaction of $216,273.88. Following the sale, the chief financial officer directly owned 30,089 shares of the company’s stock, valued at $1,516,184.71. This trade represents a 12.48% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 1.94% of the company’s stock.

Microchip Technology Price Performance

Shares of Microchip Technology stock opened at $73.17 on Wednesday. The stock has a market cap of $39.54 billion, a P/E ratio of -162.60, a P/E/G ratio of 2.22 and a beta of 1.46. The company has a debt-to-equity ratio of 0.80, a quick ratio of 1.20 and a current ratio of 2.25. The stock’s fifty day moving average is $63.59 and its 200 day moving average is $65.22. Microchip Technology Incorporated has a one year low of $34.13 and a one year high of $77.20.

Microchip Technology (NASDAQ:MCHP) last issued its quarterly earnings results on Thursday, November 6th. The semiconductor company reported $0.35 EPS for the quarter, topping analysts’ consensus estimates of $0.33 by $0.02. The business had revenue of $1.14 billion during the quarter, compared to analysts’ expectations of $1.13 billion. Microchip Technology had a positive return on equity of 5.21% and a negative net margin of 4.39%.The business’s quarterly revenue was down 2.0% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.46 earnings per share. Microchip Technology has set its Q3 2026 guidance at 0.340-0.400 EPS. Sell-side analysts anticipate that Microchip Technology Incorporated will post 1.03 earnings per share for the current year.

Microchip Technology Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, December 9th. Investors of record on Monday, November 24th were paid a dividend of $0.455 per share. The ex-dividend date was Monday, November 24th. This represents a $1.82 dividend on an annualized basis and a dividend yield of 2.5%. Microchip Technology’s payout ratio is -404.44%.

Microchip Technology Company 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.