Altfest L J & Co. Inc. Makes New $463,000 Investment in Microchip Technology Incorporated $MCHP

Altfest L J & Co. Inc. bought a new position in shares of Microchip Technology Incorporated (NASDAQ:MCHP) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 7,263 shares of the semiconductor company’s stock, valued at approximately $463,000.

Other institutional investors also recently bought and sold shares of the company. Florida Trust Wealth Management Co raised its holdings in shares of Microchip Technology by 3.3% in the third quarter. Florida Trust Wealth Management Co now owns 4,890 shares of the semiconductor company’s stock worth $314,000 after acquiring an additional 157 shares during the last quarter. Bouchey Financial Group Ltd raised its holdings in shares of Microchip Technology by 4.4% in the fourth quarter. Bouchey Financial Group Ltd now owns 3,771 shares of the semiconductor company’s stock worth $240,000 after acquiring an additional 159 shares during the last quarter. Clean Yield Group raised its holdings in shares of Microchip Technology by 9.4% in the third quarter. Clean Yield Group now owns 1,890 shares of the semiconductor company’s stock worth $121,000 after acquiring an additional 163 shares during the last quarter. Slagle Financial LLC raised its holdings in shares of Microchip Technology by 0.3% in the third quarter. Slagle Financial LLC now owns 64,485 shares of the semiconductor company’s stock worth $4,141,000 after acquiring an additional 168 shares during the last quarter. Finally, Global Trust Asset Management LLC raised its holdings in shares of Microchip Technology by 2.4% in the third quarter. Global Trust Asset Management LLC now owns 7,263 shares of the semiconductor company’s stock worth $466,000 after acquiring an additional 169 shares during the last quarter. 91.51% of the stock is currently owned by hedge funds and other institutional investors.

Microchip Technology Price Performance

MCHP stock opened at $71.56 on Monday. 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 Incorporated has a 1 year low of $35.47 and a 1 year high of $83.35. The firm has a market cap of $38.72 billion, a P/E ratio of -246.76, a price-to-earnings-growth ratio of 0.96 and a beta of 1.49. The stock has a 50-day simple moving average of $70.50 and a 200-day simple moving average of $66.70.

Microchip Technology (NASDAQ:MCHP) last posted its earnings results 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. 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 during the quarter, compared to analyst estimates of $1.19 billion. During the same quarter last year, the firm earned $0.20 earnings per share. The company’s revenue for the quarter 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. On average, equities 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 was paid on Tuesday, March 10th. Investors of record on Monday, February 23rd were issued a $0.455 dividend. The ex-dividend date of this dividend was Monday, February 23rd. This represents a $1.82 dividend on an annualized basis and a yield of 2.5%. Microchip Technology’s dividend payout ratio is currently -627.59%.

Insider Buying and Selling

In related news, CEO Steve Sanghi sold 98,814 shares of the 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 transaction, the chief executive officer owned 9,922,319 shares of the company’s stock, valued at approximately $799,242,795.45. This represents a 0.99% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Corporate insiders own 1.94% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on MCHP shares. UBS Group boosted their price target on Microchip Technology from $85.00 to $95.00 and gave the stock a “buy” rating in a report on Monday, January 26th. Jefferies Financial Group reissued a “hold” rating on shares of Microchip Technology in a report on Wednesday, February 4th. Needham & Company LLC upped their target price on Microchip Technology from $77.00 to $84.00 and gave the company a “buy” rating in a research note on Friday, February 6th. Citigroup dropped 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. Finally, Rosenblatt Securities upped their target price on Microchip Technology from $80.00 to $115.00 and gave the company a “buy” rating in a research note on Friday, February 6th. Three research analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, seven have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, Microchip Technology has a consensus rating of “Moderate Buy” and a consensus price target of $86.00.

Microchip Technology 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.