NEOS Investment Management LLC Increases Holdings in Microchip Technology Incorporated $MCHP

NEOS Investment Management LLC raised its position in Microchip Technology Incorporated (NASDAQ:MCHPFree Report) by 68.1% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 244,937 shares of the semiconductor company’s stock after purchasing an additional 99,204 shares during the quarter. NEOS Investment Management LLC’s holdings in Microchip Technology were worth $15,730,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Winnow Wealth LLC purchased a new stake in Microchip Technology during the third quarter worth about $25,000. Root Financial Partners LLC purchased a new position in shares of Microchip Technology in the 3rd quarter valued at $28,000. Salomon & Ludwin LLC grew its stake in Microchip Technology by 219.3% during the 3rd quarter. Salomon & Ludwin LLC now owns 479 shares of the semiconductor company’s stock worth $32,000 after buying an additional 329 shares during the last quarter. Quent Capital LLC purchased a new position in Microchip Technology during the 3rd quarter worth $32,000. Finally, E Fund Management Hong Kong Co. Ltd. grew its stake in shares of Microchip Technology by 106.8% in the 3rd quarter. E Fund Management Hong Kong Co. Ltd. now owns 517 shares of the semiconductor company’s stock valued at $33,000 after purchasing an additional 267 shares during the last quarter. Hedge funds and other institutional investors own 91.51% of the company’s stock.

Insider Transactions at Microchip Technology

In other news, CFO James Eric Bjornholt sold 4,292 shares of the stock in a transaction on Tuesday, November 25th. The shares were sold at an average price of $50.39, for a total transaction of $216,273.88. Following the transaction, the chief financial officer owned 30,089 shares in the company, valued at $1,516,184.71. This represents a 12.48% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Steve Sanghi sold 98,814 shares of the business’s stock in a transaction that occurred on Wednesday, January 28th. The stock was sold at an average price of $80.55, for a total value of $7,959,467.70. Following the completion of the sale, the chief executive officer owned 9,922,319 shares of the company’s stock, valued at approximately $799,242,795.45. This trade represents a 0.99% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 121,615 shares of company stock worth $9,641,654 in the last quarter. 1.94% of the stock is owned by corporate insiders.

Microchip Technology Price Performance

Shares of MCHP opened at $78.94 on Wednesday. Microchip Technology Incorporated has a one year low of $34.13 and a one year high of $83.35. The company has a debt-to-equity ratio of 0.82, a quick ratio of 1.16 and a current ratio of 2.16. The stock’s fifty day moving average is $72.18 and its 200-day moving average is $65.94. The firm has a market capitalization of $42.72 billion, a price-to-earnings ratio of -272.21, a price-to-earnings-growth ratio of 1.98 and a beta of 1.46.

Microchip Technology (NASDAQ:MCHPGet Free Report) last released its earnings results on Thursday, February 5th. The semiconductor company reported $0.44 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.43 by $0.01. Microchip Technology had a positive return on equity of 7.16% and a negative net margin of 1.57%.The firm had revenue of $1.19 billion for the quarter, compared to analyst estimates of $1.19 billion. During the same period in the previous year, the company earned $0.20 earnings per share. Microchip Technology’s revenue was up 15.6% compared to the same quarter last year. Microchip Technology has set its Q4 2026 guidance at 0.480-0.520 EPS. Equities analysts anticipate that Microchip Technology Incorporated will post 1.03 EPS for the current year.

Microchip Technology Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, March 10th. Stockholders of record on Monday, February 23rd will be issued a $0.455 dividend. The ex-dividend date is Monday, February 23rd. This represents a $1.82 dividend on an annualized basis and a dividend yield of 2.3%. Microchip Technology’s dividend payout ratio is presently -627.59%.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on the company. Citigroup cut their target price on Microchip Technology from $92.00 to $91.00 and set a “buy” rating for the company in a research note on Friday, February 6th. Cantor Fitzgerald raised their target price on shares of Microchip Technology from $85.00 to $100.00 and gave the stock an “overweight” rating in a research report on Monday, February 2nd. Piper Sandler boosted their price objective on shares of Microchip Technology from $80.00 to $85.00 and gave the company an “overweight” rating in a research note on Thursday, January 15th. JPMorgan Chase & Co. increased their price target on Microchip Technology from $85.00 to $95.00 and gave the company an “overweight” rating in a report on Friday, February 6th. Finally, Mizuho raised their price target on shares of Microchip Technology from $83.00 to $90.00 and gave the company an “outperform” rating in a report on Friday, February 6th. Four equities research analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and seven have given a Hold rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $86.00.

Get Our Latest Analysis on MCHP

About Microchip Technology

(Free Report)

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.

Further Reading

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Institutional Ownership by Quarter for Microchip Technology (NASDAQ:MCHP)

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