JPMorgan Chase & Co. Sells 45,221,613 Shares of Microchip Technology Incorporated $MCHP

JPMorgan Chase & Co. cut its holdings in Microchip Technology Incorporated (NASDAQ:MCHP) by 87.5% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 6,461,925 shares of the semiconductor company’s stock after selling 45,221,613 shares during the period. JPMorgan Chase & Co. owned about 1.20% of Microchip Technology worth $414,985,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in MCHP. Winnow Wealth LLC bought a new stake in Microchip Technology during the 3rd quarter worth about $25,000. Root Financial Partners LLC bought a new stake in Microchip Technology during the third quarter worth about $28,000. Salomon & Ludwin LLC raised its holdings in Microchip Technology by 219.3% during the third quarter. Salomon & Ludwin LLC now owns 479 shares of the semiconductor company’s stock worth $32,000 after acquiring an additional 329 shares in the last quarter. Quent Capital LLC acquired a new position in Microchip Technology during the third quarter valued at approximately $32,000. Finally, E Fund Management Hong Kong Co. Ltd. grew its stake in 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 purchasing an additional 267 shares in the last quarter. Institutional investors and hedge funds own 91.51% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on MCHP shares. KeyCorp reiterated an “overweight” rating and set a $85.00 price objective on shares of Microchip Technology in a research note on Friday, February 6th. Wolfe Research set a $85.00 price target on shares of Microchip Technology in a research report on Tuesday, January 6th. UBS Group increased their price target on shares of Microchip Technology from $85.00 to $95.00 and gave the company a “buy” rating in a research note on Monday, January 26th. Needham & Company LLC boosted their price objective on shares of Microchip Technology from $77.00 to $84.00 and gave the stock a “buy” rating in a research note on Friday, February 6th. Finally, Zacks Research raised shares of Microchip Technology from a “hold” rating to a “strong-buy” rating in a report on Monday, January 26th. Four investment analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating and seven have given a Hold rating to the stock. Based on data from MarketBeat.com, Microchip Technology currently has a consensus rating of “Moderate Buy” and a consensus target price of $86.00.

Insider Activity

In related news, CFO James Eric Bjornholt sold 4,292 shares of the business’s stock in a transaction that occurred on Tuesday, November 25th. The stock was sold at an average price of $50.39, for a total value of $216,273.88. Following the completion of the sale, the chief financial officer directly owned 30,089 shares in the company, valued at approximately $1,516,184.71. The trade was a 12.48% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Steve Sanghi sold 98,814 shares of the 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 sale, the chief executive officer directly owned 9,922,319 shares in the company, valued at $799,242,795.45. This represents a 0.99% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 121,615 shares of company stock valued at $9,641,654 in the last quarter. Corporate insiders own 1.94% of the company’s stock.

Microchip Technology Stock Performance

Shares of MCHP stock opened at $79.11 on Thursday. The company has a market capitalization of $42.81 billion, a price-to-earnings ratio of -272.79, a PEG ratio of 1.99 and a beta of 1.46. 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 52 week low of $34.13 and a 52 week high of $83.35. The company has a 50-day simple moving average of $72.40 and a 200 day simple moving average of $66.03.

Microchip Technology (NASDAQ:MCHP) last posted its earnings results on Thursday, February 5th. The semiconductor company reported $0.44 EPS for the quarter, beating the consensus estimate of $0.43 by $0.01. The company had revenue of $1.19 billion for the quarter, compared to the consensus estimate of $1.19 billion. Microchip Technology had a positive return on equity of 7.16% and a negative net margin of 1.57%.The firm’s revenue for the quarter was up 15.6% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.20 earnings per share. Microchip Technology has set its Q4 2026 guidance at 0.480-0.520 EPS. On average, sell-side analysts predict that Microchip Technology Incorporated will post 1.03 earnings per share for the current year.

Microchip Technology Dividend Announcement

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

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.