Dimensional Fund Advisors LP Sells 43,088 Shares of Microchip Technology Incorporated $MCHP

Dimensional Fund Advisors LP decreased its position in Microchip Technology Incorporated (NASDAQ:MCHP) by 2.0% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 2,126,532 shares of the semiconductor company’s stock after selling 43,088 shares during the quarter. Dimensional Fund Advisors LP owned approximately 0.39% of Microchip Technology worth $137,297,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of MCHP. Vanguard Group Inc. raised its holdings in shares of Microchip Technology by 2.0% during the fourth quarter. Vanguard Group Inc. now owns 73,506,339 shares of the semiconductor company’s stock valued at $4,683,824,000 after acquiring an additional 1,430,781 shares in the last quarter. State Street Corp raised its holdings in Microchip Technology by 2.8% in the 4th quarter. State Street Corp now owns 28,863,048 shares of the semiconductor company’s stock worth $1,839,153,000 after purchasing an additional 783,157 shares in the last quarter. Boston Partners lifted its position in shares of Microchip Technology by 9.5% in the 3rd quarter. Boston Partners now owns 16,234,332 shares of the semiconductor company’s stock worth $1,044,024,000 after purchasing an additional 1,406,885 shares during the period. Geode Capital Management LLC lifted its position in shares of Microchip Technology by 1.4% in the 4th quarter. Geode Capital Management LLC now owns 15,394,985 shares of the semiconductor company’s stock worth $977,638,000 after purchasing an additional 213,188 shares during the period. Finally, Invesco Ltd. boosted its stake in shares of Microchip Technology by 4.8% during the 4th quarter. Invesco Ltd. now owns 14,992,128 shares of the semiconductor company’s stock valued at $955,298,000 after purchasing an additional 684,561 shares in the last quarter. 91.51% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the stock. Wall Street Zen upgraded shares of Microchip Technology from a “hold” rating to a “buy” rating in a research report on Saturday, May 9th. Susquehanna raised their price objective on shares of Microchip Technology from $95.00 to $120.00 and gave the stock a “positive” rating in a report on Friday, May 8th. Rosenblatt Securities lifted their price objective on Microchip Technology from $115.00 to $120.00 and gave the company a “buy” rating in a research report on Friday, May 8th. JPMorgan Chase & Co. upped their target price on Microchip Technology from $95.00 to $120.00 and gave the stock an “overweight” rating in a report on Friday, May 8th. Finally, Cantor Fitzgerald reissued an “overweight” rating and issued a $125.00 target price on shares of Microchip Technology in a research report on Wednesday, May 13th. Four investment analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and seven have assigned a Hold rating to the stock. Based on data from MarketBeat.com, Microchip Technology currently has an average rating of “Moderate Buy” and a consensus target price of $99.76.

Insider Activity

In other news, Director Matthew W. Chapman sold 3,000 shares of the stock in a transaction that occurred on Thursday, May 28th. The shares were sold at an average price of $97.52, for a total transaction of $292,560.00. Following the sale, the director owned 17,665 shares in the company, valued at $1,722,690.80. This represents a 14.52% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Steve Sanghi sold 76,469 shares of the stock in a transaction that occurred on Friday, May 1st. The shares were sold at an average price of $93.58, for a total transaction of $7,155,969.02. Following the sale, the chief executive officer owned 9,385,834 shares in the company, valued at approximately $878,326,345.72. The trade was a 0.81% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 136,721 shares of company stock valued at $12,793,719 in the last quarter. 1.79% of the stock is owned by company insiders.

Microchip Technology Stock Down 1.2%

MCHP stock opened at $77.90 on Tuesday. The business has a 50 day moving average of $90.35 and a 200 day moving average of $81.21. The firm has a market cap of $42.30 billion, a PE ratio of 370.97, a price-to-earnings-growth ratio of 0.79 and a beta of 1.74. Microchip Technology Incorporated has a twelve month low of $48.52 and a twelve month high of $105.91. The company has a quick ratio of 1.18, a current ratio of 2.09 and a debt-to-equity ratio of 0.85.

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

Microchip Technology Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, June 5th. Shareholders of record on Friday, May 22nd were paid 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 was Friday, May 22nd. Microchip Technology’s dividend payout ratio (DPR) is currently 866.67%.

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.