Channing Capital Management LLC Reduces Stake in Microchip Technology Incorporated $MCHP

Channing Capital Management LLC lowered its stake in Microchip Technology Incorporated (NASDAQ:MCHP) by 6.4% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 120,320 shares of the semiconductor company’s stock after selling 8,167 shares during the quarter. Channing Capital Management LLC’s holdings in Microchip Technology were worth $7,727,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Vanguard Group Inc. grew its stake in Microchip Technology by 2.1% during the third quarter. Vanguard Group Inc. now owns 72,075,558 shares of the semiconductor company’s stock valued at $4,628,692,000 after acquiring an additional 1,507,554 shares in the last quarter. State Street Corp boosted its holdings in Microchip Technology by 8.5% in the 2nd quarter. State Street Corp now owns 31,888,814 shares of the semiconductor company’s stock valued at $2,244,016,000 after purchasing an additional 2,489,258 shares during the period. Invesco Ltd. grew its position in shares of Microchip Technology by 10.4% during the 2nd quarter. Invesco Ltd. now owns 18,452,546 shares of the semiconductor company’s stock valued at $1,298,506,000 after purchasing an additional 1,745,515 shares in the last quarter. Geode Capital Management LLC increased its holdings in shares of Microchip Technology by 2.4% in the second quarter. Geode Capital Management LLC now owns 14,842,341 shares of the semiconductor company’s stock worth $1,040,544,000 after purchasing an additional 343,210 shares during the period. Finally, Boston Partners raised its position in shares of Microchip Technology by 38.2% in the second quarter. Boston Partners now owns 14,827,447 shares of the semiconductor company’s stock worth $1,041,868,000 after buying an additional 4,101,034 shares in the last quarter. 91.51% of the stock is currently owned by institutional investors.

Insider Activity at Microchip Technology

In other Microchip Technology news, CEO Steve Sanghi sold 98,814 shares of the firm’s stock in a transaction on Wednesday, January 28th. The shares were sold at an average price of $80.55, for a total value of $7,959,467.70. Following the sale, the chief executive officer owned 9,922,319 shares of the company’s stock, valued at $799,242,795.45. This trade represents a 0.99% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO James Eric Bjornholt sold 4,292 shares of the company’s stock in a transaction dated 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 directly owned 30,089 shares of the company’s stock, valued at approximately $1,516,184.71. This trade represents a 12.48% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 121,615 shares of company stock worth $9,641,654 in the last 90 days. Company insiders own 1.94% of the company’s stock.

Microchip Technology Trading Up 0.7%

Shares of MCHP opened at $77.73 on Friday. Microchip Technology Incorporated has a fifty-two week low of $34.13 and a fifty-two week high of $83.35. The firm has a market cap of $42.06 billion, a price-to-earnings ratio of -268.03, a PEG ratio of 1.95 and a beta of 1.46. The firm has a 50 day moving average price of $72.77 and a 200-day moving average price of $66.18. The company has a debt-to-equity ratio of 0.82, a quick ratio of 1.16 and a current ratio of 2.16.

Microchip Technology (NASDAQ:MCHP) last announced its quarterly earnings data on Thursday, February 5th. The semiconductor company reported $0.44 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.43 by $0.01. The firm had revenue of $1.19 billion for the quarter, compared to analysts’ expectations of $1.19 billion. Microchip Technology had a positive return on equity of 7.16% and a negative net margin of 1.57%.The company’s revenue for the quarter was up 15.6% compared to the same quarter last year. During the same period last year, the firm earned $0.20 earnings per share. Microchip Technology has set its Q4 2026 guidance at 0.480-0.520 EPS. As a group, equities research analysts forecast that Microchip Technology Incorporated will post 1.03 earnings per share for the current year.

Microchip Technology Dividend Announcement

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

Wall Street Analyst Weigh In

MCHP has been the topic of a number of research analyst reports. Zacks Research upgraded Microchip Technology from a “hold” rating to a “strong-buy” rating in a research note on Monday, January 26th. Citigroup decreased their price objective on shares of Microchip Technology from $92.00 to $91.00 and set a “buy” rating on the stock in a research report on Friday, February 6th. Bank of America upgraded shares of Microchip Technology from a “neutral” rating to a “buy” rating and set a $95.00 target price for the company in a research report on Wednesday, January 28th. BNP Paribas Exane raised shares of Microchip Technology from a “neutral” rating to an “outperform” rating and set a $90.00 price target for the company in a research note on Thursday, January 22nd. Finally, Argus upgraded shares of Microchip Technology to a “strong-buy” rating in a research report on Monday, February 9th. Four analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and seven have given a Hold rating to the stock. According to MarketBeat, Microchip Technology currently has an average rating of “Moderate Buy” and an average target price of $86.00.

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.