Microchip Technology Incorporated $MCHP Stock: Vest Financial LLC Increases Holdings

Vest Financial LLC grew its position in Microchip Technology Incorporated (NASDAQ:MCHP) by 61.1% during the 3rd quarter, Holdings Channel.com reports. The firm owned 127,562 shares of the semiconductor company’s stock after purchasing an additional 48,357 shares during the period. Vest Financial LLC’s holdings in Microchip Technology were worth $9,920,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in MCHP. State Street Corp lifted its holdings in shares of Microchip Technology by 2.9% during the 2nd quarter. State Street Corp now owns 28,851,673 shares of the semiconductor company’s stock valued at $2,631,273,000 after purchasing an additional 821,147 shares during the last quarter. Van ECK Associates Corp boosted its position in shares of Microchip Technology by 18.3% in the 2nd quarter. Van ECK Associates Corp now owns 8,224,808 shares of the semiconductor company’s stock worth $750,102,000 after purchasing an additional 1,272,838 shares in the last quarter. Barrow Hanley Mewhinney & Strauss LLC acquired a new stake in shares of Microchip Technology in the 2nd quarter worth $537,423,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in shares of Microchip Technology by 23.5% in the 2nd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 5,060,528 shares of the semiconductor company’s stock worth $461,520,000 after purchasing an additional 962,362 shares in the last quarter. Finally, Legal & General Group Plc purchased a new position in Microchip Technology during the 2nd quarter worth $312,597,000. 91.51% of the stock is owned by institutional investors and hedge funds.

Microchip Technology Trading Down 3.4%

NASDAQ MCHP opened at $74.52 on Friday. The company has a fifty day simple moving average of $75.19 and a two-hundred day simple moving average of $82.88. The stock has a market cap of $40.47 billion, a P/E ratio of 111.23, a P/E/G ratio of 0.53 and a beta of 1.77. Microchip Technology Incorporated has a 12-month low of $48.52 and a 12-month high of $105.91. The company has a current ratio of 1.92, a quick ratio of 1.11 and a debt-to-equity ratio of 0.83.

Microchip Technology (NASDAQ:MCHP) last posted its quarterly earnings data on Thursday, August 6th. The semiconductor company reported $0.76 EPS for the quarter, topping the consensus estimate of $0.70 by $0.06. The business had revenue of $1.48 billion during the quarter, compared to the consensus estimate of $1.46 billion. Microchip Technology had a net margin of 9.34% and a return on equity of 14.97%. The business’s revenue for the quarter was up 38.0% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.27 earnings per share. Microchip Technology has set its Q2 2027 guidance at 0.910-0.950 EPS. On average, analysts forecast that Microchip Technology Incorporated will post 3.20 earnings per share for the current year.

Microchip Technology Dividend Announcement

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

Wall Street Analyst Weigh In

Several research analysts recently issued reports on MCHP shares. TD Cowen reduced their target price on Microchip Technology from $90.00 to $75.00 and set a “hold” rating on the stock in a research report on Monday. B. Riley Financial decreased their price target on Microchip Technology from $108.00 to $98.00 and set a “buy” rating for the company in a research note on Thursday. BMO Capital Markets assumed coverage on Microchip Technology in a report on Friday, August 21st. They issued an “outperform” rating and a $95.00 price target for the company. Citigroup dropped their price target on Microchip Technology from $113.00 to $95.00 and set a “buy” rating on the stock in a research note on Friday, August 7th. Finally, Truist Financial dropped their price target on Microchip Technology from $105.00 to $90.00 and set a “hold” rating on the stock in a research note on Friday, August 7th. Three analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and eight have given a Hold rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $97.71.

Insider Transactions at Microchip Technology

In related news, CFO James Bjornholt sold 4,112 shares of the firm’s stock in a transaction on Tuesday, August 25th. The stock was 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 owned 28,573 shares in the company, valued at $2,152,118.36. This trade represents a 12.58% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 1.79% of the stock is owned by company insiders.

About Microchip Technology

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.