Microchip (MCHP): sales up 38% after a two-year slump, a stock 27% off its May high, and quant funds adding
By Gabriel Zacarkim · Published Oct 11, 2026 · Data as of Oct 9, 2026 close (13F positions as of June 30, 2026)
Microchip Technology closed at $75.55 on October 9, 2026, worth $41 billion. The stock is up 14.7% over twelve months but 26.6% below its high of $102.92 on May 6, 2026, and 17.2% below its June 30 close. The dividend yield is 2.4%.
From a slump to a recovery
Microchip’s fiscal year ends on March 31. Revenue peaked at $8.44 billion in fiscal 2023 and fell to $4.40 billion in fiscal 2025, when the company roughly broke even; fiscal 2026 brought $4.71 billion and $230 million of profit. The first quarter of fiscal 2027, the three months to June 30, 2026, shows the recovery speeding up: net sales of $1.485 billion, up 38.0% from a year earlier and 13.2% from the previous quarter, above the top of the company’s guidance. GAAP net income attributable to common stockholders was $202.0 million, or $0.37 per share, against guidance of $0.28 to $0.29.
| Period | Revenue | Net income |
|---|---|---|
| Fiscal 2022 | $6.82B | $1.29B |
| Fiscal 2023 | $8.44B | $2.24B |
| Fiscal 2024 | $7.63B | $1.91B |
| Fiscal 2025 | $4.40B | −$0.5M |
| Fiscal 2026 | $4.71B | $0.23B |
| Quarter to Jun 2026 | $1.48B | $0.20B (to common) |
Chief executive Steve Sanghi credited “improving demand, continued inventory normalization, and stronger factory utilization.” Inventory fell from 185 days on March 31 to 175 days on June 30, and net debt fell by about $170 million in the quarter. The quarterly dividend stayed at 45.5 cents. Chief operating officer Richard Simoncic resigned effective August 17, 2026, to become chief executive of Menlo Microsystems, a private company; shareholders approved 12 million more shares for the equity incentive plan in August.
Who held it at the end of June
| Manager | Shares, Jun 30 | Value, Jun 30 | Change in shares vs. Mar 31 |
|---|---|---|---|
| Cliff Asness (AQR) | 2,239,669 | $199.2M | +70.4% |
| Two Sigma | 1,919,271 | $175.0M | +85.2% |
| Ken Griffin (Citadel) | 1,290,382 | $117.7M | +60.4% |
| Renaissance Technologies | 1,045,956 | $95.4M | +3,588.7% |
| Israel Englander (Millennium) | 508,875 | $46.4M | +2.8% |
| Ray Dalio (Bridgewater) | 275,882 | $25.2M | +853.3% |
| George Soros (Soros) | 227,800 | $20.8M | new (held in 2024) |
| Lee Ainslie (Maverick) | 7,205 | $0.7M | new (held in 2024) |
| Steve Cohen (Point72) | 0 | — | sold out (2,323,949 shares) |
Eight of the 38 managers held Microchip at the end of June, mostly quantitative or multi-strategy funds, with 7.5 million shares between them, up from 6.0 million. Cliff Asness’s AQR, Two Sigma and Ken Griffin’s Citadel added 60% to 85% each, and Renaissance Technologies went from 28,356 shares to more than a million; Steve Cohen’s Point72 sold its 2.3 million shares. The values are at the June 30 price; at the October 9 close they were 17% lower.
Insiders barely traded: from early August to early October, the only open-market sales were two by finance chief Eric Bjornholt, $0.38 million in total, $0.31 million of it under a 10b5-1 plan, and no insider bought. Daily data is on the Microchip page. Not investment advice.
Sources
- Q1 fiscal 2027 results (Aug 6, 2026)
- Microchip 10-K, fiscal 2026
- Microchip 10-Q, quarter to June 30, 2026
- 8-K: COO resignation (Jul 24, 2026)
- 8-K: equity plan amendment and annual meeting (Aug 19, 2026)
For information only, not investment advice. The figures come from the filings listed above and describe what happened, not what will.