Microchip Technology Incorporated $MCHP Shares Sold by Hosking Partners LLP

Hosking Partners LLP trimmed its holdings in Microchip Technology Incorporated (NASDAQ:MCHP) by 10.3% during the third quarter, Holdings Channel reports. The firm owned 296,965 shares of the semiconductor company’s stock after selling 34,186 shares during the quarter. Hosking Partners LLP’s holdings in Microchip Technology were worth $23,095,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in MCHP. TOP Private Wealth LLC. bought a new stake in shares of Microchip Technology during the 2nd quarter valued at about $29,000. Continuum Advisory LLC bought a new stake in Microchip Technology in the second quarter worth approximately $30,000. Johnson Financial Group Inc. bought a new stake in Microchip Technology in the second quarter worth approximately $31,000. Rakuten Securities Inc. acquired a new position in Microchip Technology in the second quarter valued at approximately $34,000. Finally, GK Wealth Management LLC acquired a new position in Microchip Technology in the third quarter valued at approximately $29,000. 91.51% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

MCHP has been the topic of a number of research analyst reports. Weiss Ratings upgraded Microchip Technology from a “hold (c-)” rating to a “hold (c)” rating in a report on Tuesday, August 11th. Rosenblatt Securities reaffirmed a “buy” rating and set a $120.00 price objective on shares of Microchip Technology in a research report on Friday, August 7th. Citigroup lowered their price objective on shares of Microchip Technology from $113.00 to $95.00 and set a “buy” rating for the company in a research note on Friday, August 7th. Wells Fargo & Company dropped their target price on shares of Microchip Technology from $88.00 to $80.00 and set an “equal weight” rating on the stock in a research report on Tuesday. Finally, UBS Group reiterated a “buy” rating and set a $120.00 target price (down from $130.00) on shares of Microchip Technology in a research report on Friday, August 7th. Three research analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating and eight have given a Hold rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $97.57.

Microchip Technology Stock Performance

Shares of MCHP opened at $77.15 on Thursday. Microchip Technology Incorporated has a one year low of $48.52 and a one year high of $105.91. The company has a market cap of $41.89 billion, a PE ratio of 46.25, a P/E/G ratio of 0.52 and a beta of 1.77. The stock has a 50-day moving average of $75.26 and a 200-day moving average of $82.82. The company has a debt-to-equity ratio of 0.83, a current ratio of 1.92 and a quick ratio of 1.11.

Microchip Technology (NASDAQ:MCHP) last issued its earnings results on Thursday, August 6th. The semiconductor company reported $0.76 EPS for the quarter, beating analysts’ consensus estimates of $0.70 by $0.06. Microchip Technology had a return on equity of 14.97% and a net margin of 9.34%. The business had revenue of $1.48 billion during the quarter, compared to analyst estimates of $1.46 billion. During the same period in the previous year, the company posted $0.27 EPS. The firm’s 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, equities research analysts predict that Microchip Technology Incorporated will post 3.20 EPS for the current fiscal year.

Microchip Technology Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, September 9th. Stockholders of record on Monday, August 24th were given a dividend of $0.4550 per share. This represents a $1.82 dividend on an annualized basis and a dividend yield of 2.4%. The ex-dividend date of this dividend was Monday, August 24th. Microchip Technology’s dividend payout ratio is presently 271.64%.

Insider Buying and Selling at Microchip Technology

In other news, CFO James Bjornholt sold 4,112 shares of the company’s stock in a transaction that occurred on Tuesday, August 25th. The stock was sold at an average price of $75.32, for a total transaction of $309,715.84. Following 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 ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 1.79% of the stock is owned by insiders.

Microchip Technology Company Profile

Microchip Technology Incorporated (NASDAQ:MCHP) develops and manufactures semiconductor products used in embedded control and connected electronic systems. Its portfolio includes microcontrollers, microprocessors, analog and power-management devices, memory products, timing and connectivity components, security solutions, and field-programmable gate arrays. The company also provides development tools, software, evaluation kits, and technical support to help customers design and produce electronic equipment.

Microchip’s products are used across a range of markets, including automotive, industrial, aerospace and defense, communications, consumer electronics, data centers, and medical applications.