Microchip Technology Incorporated $MCHP Position Trimmed by General Partner Inc.

General Partner Inc. decreased its stake in shares of Microchip Technology Incorporated (NASDAQ:MCHP) by 96.1% in the third quarter, Holdings Channel reports. The institutional investor owned 600 shares of the semiconductor company’s stock after selling 14,871 shares during the quarter. General Partner Inc.’s holdings in Microchip Technology were worth $47,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. Epoch Investment Partners Inc. grew its position in Microchip Technology by 16.5% in the 4th quarter. Epoch Investment Partners Inc. now owns 1,349,136 shares of the semiconductor company’s stock valued at $85,967,000 after acquiring an additional 191,339 shares during the last quarter. Junto Capital Management LP purchased a new position in Microchip Technology in the 2nd quarter worth about $38,537,000. Barclays PLC lifted its holdings in Microchip Technology by 66.5% during the 4th quarter. Barclays PLC now owns 13,996,883 shares of the semiconductor company’s stock valued at $891,881,000 after buying an additional 5,590,210 shares in the last quarter. Hsbc Holdings PLC boosted its position in Microchip Technology by 13.0% in the 1st quarter. Hsbc Holdings PLC now owns 1,160,129 shares of the semiconductor company’s stock valued at $74,649,000 after buying an additional 133,813 shares during the period. Finally, Alps Advisors Inc. bought a new position in Microchip Technology in the 4th quarter worth about $23,793,000. 91.51% of the stock is owned by institutional investors.

Microchip Technology Price Performance

Shares of Microchip Technology stock traded up $0.20 during trading on Monday, reaching $81.52. The company’s stock had a trading volume of 1,768,522 shares, compared to its average volume of 10,098,368. The business has a 50 day moving average price of $75.70 and a 200-day moving average price of $81.73. Microchip Technology Incorporated has a 12-month low of $48.52 and a 12-month high of $105.91. The company has a market capitalization of $44.26 billion, a P/E ratio of 121.57, a price-to-earnings-growth ratio of 0.57 and a beta of 1.77. The company has a quick ratio of 1.11, a current ratio of 1.92 and a debt-to-equity ratio of 0.83.

Microchip Technology (NASDAQ:MCHP) last released its quarterly earnings results on Thursday, August 6th. The semiconductor company reported $0.76 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.70 by $0.06. Microchip Technology had a net margin of 9.34% and a return on equity of 14.97%. The company had revenue of $1.48 billion for the quarter, compared to analysts’ expectations of $1.46 billion. During the same period last year, the company earned $0.27 EPS. The firm’s revenue for the quarter 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. As a group, sell-side analysts anticipate that Microchip Technology Incorporated will post 3.16 EPS for the current year.

Microchip Technology Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, September 9th. Investors of record on Monday, August 24th were issued a dividend of $0.4550 per share. This represents a $1.82 annualized dividend and a dividend yield of 2.2%. The ex-dividend date was Monday, August 24th. Microchip Technology’s dividend payout ratio (DPR) is presently 271.64%.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on MCHP shares. Rosenblatt Securities reissued a “buy” rating and set a $120.00 price objective on shares of Microchip Technology in a report on Friday, August 7th. Zacks Research downgraded Microchip Technology from a “strong-buy” rating to a “hold” rating in a report on Monday, August 17th. Wells Fargo & Company dropped their price objective on Microchip Technology from $95.00 to $88.00 and set an “equal weight” rating on the stock in a research report on Monday, July 20th. Cantor Fitzgerald reiterated an “overweight” rating on shares of Microchip Technology in a report on Wednesday, September 9th. Finally, Citigroup lowered their price target on shares of Microchip Technology from $113.00 to $95.00 and set a “buy” rating on the stock in a report on Friday, August 7th. Three equities research analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating and eight have issued a Hold rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $98.67.

Insider Buying and Selling

In other Microchip Technology news, CFO James Bjornholt sold 4,112 shares of the company’s stock in a transaction dated Tuesday, August 25th. The shares were sold at an average price of $75.32, for a total value of $309,715.84. Following the completion of the transaction, the chief financial officer directly owned 28,573 shares of the company’s stock, valued at $2,152,118.36. This represents a 12.58% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 1.79% of the company’s stock.

Microchip Technology Company Profile

Microchip Technology Inc is a semiconductor company that develops and manufactures embedded control solutions for automotive, industrial, aerospace and defense, communications, consumer, and computing applications. Its products are designed to help customers manage processing, connectivity, power, timing, security, and data storage within electronic systems.

The company’s product portfolio includes microcontrollers, microprocessors, analog and mixed-signal devices, power-management products, timing and synchronization solutions, memory products, connectivity components, and field-programmable gate arrays.