Fox Run Management L.L.C. Takes $2.87 Million Position in Microchip Technology Incorporated $MCHP

Fox Run Management L.L.C. purchased a new stake in Microchip Technology Incorporated (NASDAQ:MCHP) in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 44,617 shares of the semiconductor company’s stock, valued at approximately $2,865,000. Microchip Technology accounts for 0.4% of Fox Run Management L.L.C.’s investment portfolio, making the stock its 4th largest position.

Several other hedge funds and other institutional investors also recently bought and sold shares of the company. Winnow Wealth LLC bought a new stake in Microchip Technology during the 3rd quarter valued at $25,000. Root Financial Partners LLC bought a new position in shares of Microchip Technology during the 3rd quarter worth $28,000. Salomon & Ludwin LLC increased its stake in shares of Microchip Technology by 219.3% during the third quarter. Salomon & Ludwin LLC now owns 479 shares of the semiconductor company’s stock valued at $32,000 after buying an additional 329 shares during the period. Quent Capital LLC bought a new stake in shares of Microchip Technology in the third quarter valued at about $32,000. Finally, E Fund Management Hong Kong Co. Ltd. raised its holdings in shares of Microchip Technology by 106.8% in the third quarter. E Fund Management Hong Kong Co. Ltd. now owns 517 shares of the semiconductor company’s stock valued at $33,000 after acquiring an additional 267 shares in the last quarter. Institutional investors own 91.51% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have issued reports on the stock. Stifel Nicolaus set a $90.00 target price on shares of Microchip Technology in a report on Friday, February 6th. Argus raised shares of Microchip Technology to a “strong-buy” rating in a research report on Monday, February 9th. Citigroup cut their price objective on shares of Microchip Technology from $92.00 to $91.00 and set a “buy” rating on the stock in a report on Friday, February 6th. Bank of America raised shares of Microchip Technology from a “neutral” rating to a “buy” rating and set a $95.00 price objective for the company in a research note on Wednesday, January 28th. Finally, UBS Group increased their target price on Microchip Technology from $85.00 to $95.00 and gave the company a “buy” rating in a research report on Monday, January 26th. Four equities research analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and seven have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $86.00.

Microchip Technology Price Performance

Shares of MCHP opened at $75.93 on Wednesday. The company has a market cap of $41.09 billion, a price-to-earnings ratio of -261.83, a price-to-earnings-growth ratio of 1.93 and a beta of 1.46. Microchip Technology Incorporated has a twelve month low of $34.13 and a twelve month high of $83.35. The company has a quick ratio of 1.16, a current ratio of 2.16 and a debt-to-equity ratio of 0.82. The company has a 50 day moving average of $73.16 and a two-hundred day moving average of $66.35.

Microchip Technology (NASDAQ:MCHP) last issued its quarterly 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 business had revenue of $1.19 billion for the quarter, compared to the consensus estimate of $1.19 billion. During the same period in the prior year, the firm posted $0.20 earnings per share. The business’s quarterly revenue was up 15.6% on a year-over-year basis. Microchip Technology has set its Q4 2026 guidance at 0.480-0.520 EPS. As a group, analysts predict that Microchip Technology Incorporated will post 1.03 earnings per share for the current fiscal year.

Microchip Technology Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, March 10th. Shareholders of record on Monday, February 23rd will be paid a $0.455 dividend. The ex-dividend date is Monday, February 23rd. This represents a $1.82 dividend on an annualized basis and a yield of 2.4%. Microchip Technology’s dividend payout ratio (DPR) is -627.59%.

Insider Buying and Selling

In other Microchip Technology news, CEO Steve Sanghi sold 98,814 shares of the firm’s stock in a transaction dated 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 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.