Resona Asset Management Co. Ltd. Lowers Holdings in Microchip Technology Incorporated $MCHP

Resona Asset Management Co. Ltd. lowered its holdings in Microchip Technology Incorporated (NASDAQ:MCHP) by 7.0% in the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 150,942 shares of the semiconductor company’s stock after selling 11,393 shares during the period. Resona Asset Management Co. Ltd.’s holdings in Microchip Technology were worth $13,699,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in MCHP. EFG International AG purchased a new position in Microchip Technology in the 4th quarter valued at approximately $29,000. Miller Capital Partners Inc. purchased a new stake in shares of Microchip Technology during the fourth quarter worth $29,000. Reflection Asset Management purchased a new stake in shares of Microchip Technology during the fourth quarter worth $33,000. Garton & Associates Financial Advisors LLC purchased a new stake in shares of Microchip Technology during the fourth quarter worth $33,000. Finally, Caitong International Asset Management Co. Ltd raised its stake in shares of Microchip Technology by 4,663.6% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 524 shares of the semiconductor company’s stock valued at $33,000 after acquiring an additional 513 shares in the last quarter. 91.51% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Microchip Technology

In other news, Director Matthew W. Chapman sold 3,000 shares of the firm’s stock in a transaction dated Thursday, May 28th. The stock was sold at an average price of $97.52, for a total transaction of $292,560.00. Following the sale, the director owned 17,665 shares of the company’s stock, valued at approximately $1,722,690.80. This trade represents a 14.52% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Richard J. Simoncic sold 5,000 shares of the business’s stock in a transaction that occurred on Thursday, June 4th. The stock was sold at an average price of $97.52, for a total value of $487,600.00. Following the sale, the chief operating officer owned 130,508 shares of the company’s stock, valued at approximately $12,727,140.16. The trade was a 3.69% decrease in their position. The SEC filing for this sale provides additional information. In the last 90 days, insiders have sold 16,667 shares of company stock valued at $1,580,580. Corporate insiders own 1.79% of the company’s stock.

Microchip Technology Stock Performance

Shares of MCHP stock opened at $77.69 on Friday. The company has a current ratio of 1.92, a quick ratio of 1.11 and a debt-to-equity ratio of 0.83. The firm has a fifty day moving average price of $85.90 and a 200 day moving average price of $81.49. The company has a market cap of $42.19 billion, a P/E ratio of 115.96, a PEG ratio of 0.62 and a beta of 1.76. Microchip Technology Incorporated has a 12 month low of $48.52 and a 12 month high of $105.91.

Microchip Technology (NASDAQ:MCHP) last posted its quarterly earnings results on Thursday, August 6th. The semiconductor company reported $0.76 earnings per share for the quarter, beating analysts’ consensus estimates of $0.70 by $0.06. The company had revenue of $1.48 billion for the quarter, compared to analysts’ expectations of $1.46 billion. Microchip Technology had a return on equity of 14.97% and a net margin of 9.34%.Microchip Technology’s quarterly revenue was up 38.0% on a year-over-year basis. During the same period last year, the firm earned $0.27 earnings per share. Microchip Technology has set its Q2 2027 guidance at 0.910-0.950 EPS. Sell-side analysts predict that Microchip Technology Incorporated will post 2.81 earnings per share 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 is presently 271.64%.

Analyst Ratings Changes

MCHP has been the subject of several analyst reports. Needham & Company LLC boosted their target price on Microchip Technology from $84.00 to $120.00 and gave the stock a “buy” rating in a research note on Friday, May 8th. Wells Fargo & Company reduced their price target 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. Susquehanna lifted their price objective on Microchip Technology from $95.00 to $120.00 and gave the company a “positive” rating in a research note on Friday, May 8th. TD Cowen lowered their price objective on Microchip Technology from $105.00 to $90.00 and set a “hold” rating for the company in a research report on Monday, July 13th. Finally, Wall Street Zen upgraded shares of Microchip Technology from a “hold” rating to a “buy” rating in a research note on Saturday, May 9th. Three investment analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and seven have assigned a Hold rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price 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.