Massachusetts Financial Services Co. MA Sells 59,690 Shares of Microchip Technology Incorporated $MCHP

Massachusetts Financial Services Co. MA decreased its position in Microchip Technology Incorporated (NASDAQ:MCHP) by 12.2% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 430,040 shares of the semiconductor company’s stock after selling 59,690 shares during the period. Massachusetts Financial Services Co. MA’s holdings in Microchip Technology were worth $39,220,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in the company. EFG International AG acquired a new stake in Microchip Technology during the 4th quarter worth $29,000. Miller Capital Partners Inc. acquired a new position in Microchip Technology in the fourth quarter valued at about $29,000. Reflection Asset Management acquired a new position in Microchip Technology in the fourth quarter valued at about $33,000. Garton & Associates Financial Advisors LLC bought a new stake in shares of Microchip Technology in the fourth quarter worth about $33,000. Finally, Caitong International Asset Management Co. Ltd raised its position in shares of Microchip Technology by 4,663.6% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 524 shares of the semiconductor company’s stock worth $33,000 after purchasing an additional 513 shares during the period. Institutional investors own 91.51% of the company’s stock.

Insider Transactions at Microchip Technology

In other news, CFO James Eric Bjornholt sold 3,667 shares of the business’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 sale, the chief financial officer owned 28,573 shares of the company’s stock, valued at $2,596,428.51. The trade was a 11.37% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Matthew W. Chapman sold 3,000 shares of the stock in a transaction on Thursday, May 28th. The stock was sold at an average price of $97.52, for a total transaction of $292,560.00. Following the transaction, the director owned 17,665 shares of the company’s stock, valued at $1,722,690.80. The trade was a 14.52% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 16,667 shares of company stock valued at $1,580,580 over the last 90 days. 1.79% of the stock is owned by corporate insiders.

Microchip Technology Stock Up 1.9%

NASDAQ:MCHP opened at $79.17 on Friday. The company has a debt-to-equity ratio of 0.83, a quick ratio of 1.11 and a current ratio of 1.92. The company has a market cap of $42.99 billion, a PE ratio of 118.17, a PEG ratio of 0.61 and a beta of 1.76. Microchip Technology Incorporated has a 52-week low of $48.52 and a 52-week high of $105.91. The stock has a 50-day simple moving average of $85.72 and a 200 day simple moving average of $81.47.

Microchip Technology (NASDAQ:MCHP) last released its earnings results on Thursday, August 6th. The semiconductor company reported $0.76 EPS for the quarter, beating the consensus estimate of $0.70 by $0.06. Microchip Technology had a return on equity of 14.97% and a net margin of 9.34%.The firm had revenue of $1.48 billion for the quarter, compared to analysts’ expectations of $1.46 billion. During the same quarter in the previous year, the business posted $0.27 EPS. The business’s quarterly revenue was up 38.0% compared to the same quarter last year. Microchip Technology has set its Q2 2027 guidance at 0.910-0.950 EPS. On average, sell-side analysts expect that Microchip Technology Incorporated will post 2.81 EPS for the current fiscal year.

Microchip Technology Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 9th. Stockholders of record on Monday, August 24th will be issued a $0.455 dividend. The ex-dividend date is Monday, August 24th. This represents a $1.82 dividend on an annualized basis and a dividend yield of 2.3%. Microchip Technology’s dividend payout ratio (DPR) is 271.64%.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on MCHP. UBS Group reiterated a “buy” rating and issued a $120.00 price objective (down from $130.00) on shares of Microchip Technology in a research report on Friday, August 7th. TD Cowen cut their price target on shares of Microchip Technology from $105.00 to $90.00 and set a “hold” rating on the stock in a research note on Monday, July 13th. Truist Financial reduced their price target on shares of Microchip Technology from $105.00 to $90.00 and set a “hold” rating for the company in a report on Friday, August 7th. Cantor Fitzgerald reissued an “overweight” rating and set a $125.00 price objective on shares of Microchip Technology in a research report on Monday, August 3rd. Finally, Barclays raised their price objective on shares of Microchip Technology from $80.00 to $105.00 and gave the stock an “equal weight” rating in a report on Monday, May 11th. Three investment analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating and seven have issued a Hold rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $98.85.

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.