Microchip Technology Incorporated $MCHP Shares Sold by Aristotle Capital Management LLC

Aristotle Capital Management LLC lowered its stake in Microchip Technology Incorporated (NASDAQ:MCHP) by 6.4% during the first quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 11,641,968 shares of the semiconductor company’s stock after selling 793,005 shares during the quarter. Aristotle Capital Management LLC owned approximately 2.15% of Microchip Technology worth $752,191,000 as of its most recent filing with the SEC.

Several other hedge funds also recently bought and sold shares of the stock. Wealth Alliance LLC acquired a new position in shares of Microchip Technology in the first quarter valued at approximately $260,000. Unisphere Establishment acquired a new stake in shares of Microchip Technology during the first quarter worth $12,373,000. Senvest Management LLC acquired a new position in Microchip Technology in the first quarter valued at $33,352,000. Healthcare of Ontario Pension Plan Trust Fund boosted its stake in Microchip Technology by 52.8% in the 1st quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 2,601,121 shares of the semiconductor company’s stock worth $168,058,000 after buying an additional 898,503 shares during the last quarter. Finally, GC Wealth Management RIA LLC grew its holdings in Microchip Technology by 9.2% in the 1st quarter. GC Wealth Management RIA LLC now owns 12,223 shares of the semiconductor company’s stock valued at $790,000 after buying an additional 1,028 shares during the period. Hedge funds and other institutional investors own 91.51% of the company’s stock.

Microchip Technology Stock Down 3.1%

Shares of Microchip Technology stock opened at $78.86 on Friday. The company has a quick ratio of 1.18, a current ratio of 2.09 and a debt-to-equity ratio of 0.85. The firm has a market cap of $42.82 billion, a P/E ratio of 375.54, a P/E/G ratio of 0.82 and a beta of 1.74. Microchip Technology Incorporated has a fifty-two week low of $48.52 and a fifty-two week high of $105.91. The business has a 50-day moving average price of $90.64 and a 200 day moving average price of $81.09.

Microchip Technology (NASDAQ:MCHP) last issued its quarterly earnings results on Thursday, May 7th. The semiconductor company reported $0.57 earnings per share for the quarter, beating analysts’ consensus estimates of $0.50 by $0.07. Microchip Technology had a return on equity of 10.87% and a net margin of 4.88%.The business had revenue of $1.31 billion during the quarter, compared to the consensus estimate of $1.26 billion. During the same period in the previous year, the business earned $0.11 EPS. The business’s quarterly revenue was up 35.1% on a year-over-year basis. Microchip Technology has set its Q1 2027 guidance at 0.670-0.710 EPS. On average, sell-side analysts forecast that Microchip Technology Incorporated will post 2.7 earnings per share for the current fiscal year.

Microchip Technology Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, June 5th. Stockholders of record on Friday, May 22nd were given 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 was Friday, May 22nd. Microchip Technology’s dividend payout ratio is presently 866.67%.

Insider Buying and Selling

In related news, CEO Steve Sanghi sold 76,469 shares of the company’s stock in a transaction on Friday, May 1st. The stock was sold at an average price of $93.58, for a total transaction of $7,155,969.02. Following the completion of the transaction, the chief executive officer directly owned 9,385,834 shares in the company, valued at $878,326,345.72. This represents a 0.81% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO James Eric Bjornholt sold 3,667 shares of the firm’s stock in a transaction on Friday, May 22nd. The shares were sold at an average price of $90.87, for a total value of $333,220.29. Following the completion of the sale, the chief financial officer owned 28,573 shares in the company, valued at $2,596,428.51. The trade was a 11.37% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders have sold 136,721 shares of company stock worth $12,793,719. 1.79% of the stock is owned by company insiders.

Analyst Ratings Changes

Several equities research analysts recently issued reports on MCHP shares. UBS Group reissued a “buy” rating on shares of Microchip Technology in a research report on Tuesday, June 2nd. Needham & Company LLC increased their target price on Microchip Technology from $84.00 to $120.00 and gave the stock a “buy” rating in a research report on Friday, May 8th. Barclays upped their price target on Microchip Technology from $80.00 to $105.00 and gave the stock an “equal weight” rating in a research note on Monday, May 11th. JPMorgan Chase & Co. lifted their price objective on Microchip Technology from $95.00 to $120.00 and gave the company an “overweight” rating in a research note on Friday, May 8th. Finally, Wells Fargo & Company dropped their target price on shares of Microchip Technology from $95.00 to $88.00 and set an “equal weight” rating for the company in a research report on Monday, July 20th. Four investment analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and seven have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $99.76.

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.