Soundwatch Capital LLC Acquires New Position in Microchip Technology Incorporated $MCHP

Soundwatch Capital LLC acquired a new stake in Microchip Technology Incorporated (NASDAQ:MCHP) during the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor acquired 537,015 shares of the semiconductor company’s stock, valued at approximately $37,790,000. Microchip Technology accounts for 0.2% of Soundwatch Capital LLC’s holdings, making the stock its 23rd biggest holding. Soundwatch Capital LLC owned 0.10% of Microchip Technology at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of the stock. MCF Advisors LLC grew its stake in Microchip Technology by 211.2% in the second quarter. MCF Advisors LLC now owns 473 shares of the semiconductor company’s stock valued at $33,000 after purchasing an additional 321 shares in the last quarter. Carderock Capital Management Inc. acquired a new position in Microchip Technology in the second quarter worth approximately $39,000. WPG Advisers LLC bought a new position in Microchip Technology during the first quarter valued at approximately $40,000. Painted Porch Advisors LLC acquired a new stake in Microchip Technology in the second quarter valued at approximately $40,000. Finally, Fourth Dimension Wealth LLC increased its holdings in shares of Microchip Technology by 98.7% during the 2nd quarter. Fourth Dimension Wealth LLC now owns 600 shares of the semiconductor company’s stock valued at $42,000 after acquiring an additional 298 shares during the last quarter. 91.51% of the stock is owned by institutional investors and hedge funds.

Microchip Technology Trading Up 3.8%

Shares of NASDAQ MCHP opened at $50.90 on Friday. Microchip Technology Incorporated has a 1-year low of $34.13 and a 1-year high of $77.20. The company has a market cap of $27.51 billion, a PE ratio of -149.71, a P/E/G ratio of 1.79 and a beta of 1.57. The company has a current ratio of 2.31, a quick ratio of 1.33 and a debt-to-equity ratio of 0.80. The company has a 50-day moving average of $61.86 and a two-hundred day moving average of $64.69.

Microchip Technology (NASDAQ:MCHP) last posted its quarterly earnings data on Thursday, November 6th. The semiconductor company reported $0.35 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.33 by $0.02. The firm had revenue of $1.14 billion for the quarter, compared to the consensus estimate of $1.13 billion. Microchip Technology had a positive return on equity of 6.24% and a negative net margin of 3.50%.The business’s revenue for the quarter was down 2.0% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.46 EPS. Microchip Technology has set its Q3 2026 guidance at 0.340-0.400 EPS. As a group, equities analysts expect that Microchip Technology Incorporated will post 1.03 earnings per share for the current fiscal year.

Microchip Technology Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 9th. Shareholders of record on Monday, November 24th will be issued a dividend of $0.455 per share. This represents a $1.82 annualized dividend and a yield of 3.6%. The ex-dividend date of this dividend is Monday, November 24th. Microchip Technology’s payout ratio is currently -404.44%.

Analysts Set New Price Targets

MCHP has been the subject of several research analyst reports. Wells Fargo & Company cut their price objective on Microchip Technology from $60.00 to $58.00 and set an “equal weight” rating for the company in a research report on Friday, November 7th. Needham & Company LLC reduced their price objective on shares of Microchip Technology from $77.00 to $73.00 and set a “buy” rating for the company in a report on Friday, November 7th. Stifel Nicolaus lowered their price target on Microchip Technology from $82.00 to $75.00 and set a “buy” rating on the stock in a research report on Friday, November 7th. Weiss Ratings reissued a “sell (d+)” rating on shares of Microchip Technology in a report on Wednesday, October 8th. Finally, Cantor Fitzgerald decreased their price objective on shares of Microchip Technology from $70.00 to $65.00 and set a “neutral” rating on the stock in a research note on Friday, November 7th. One equities research analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating, seven have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, Microchip Technology currently has an average rating of “Moderate Buy” and an average price target of $73.47.

Insider Transactions at Microchip Technology

In other news, CFO James Eric Bjornholt sold 7,356 shares of the firm’s stock in a transaction dated Monday, August 25th. The shares were sold at an average price of $68.72, for a total value of $505,504.32. Following the transaction, the chief financial officer owned 30,010 shares of the company’s stock, valued at approximately $2,062,287.20. This trade represents a 19.69% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Matthew W. Chapman sold 10,000 shares of Microchip Technology stock in a transaction that occurred on Monday, August 25th. The stock was sold at an average price of $68.25, for a total transaction of $682,500.00. Following the sale, the director owned 30,665 shares of the company’s stock, valued at approximately $2,092,886.25. This represents a 24.59% decrease in their position. The SEC filing for this sale provides additional information. Corporate insiders own 1.94% of the company’s stock.

Microchip Technology Company Profile

Microchip Technology Incorporated engages in the development, manufacture, and sale of smart, connected, and secure embedded control solutions in the Americas, Europe, and Asia. The company offers general purpose 8-bit, 16-bit, and 32-bit mixed-signal microcontrollers; 32-bit embedded mixed-signal microprocessors; and specialized microcontrollers for automotive, industrial, computing, communications, lighting, power supplies, motor control, human machine interface, security, wired connectivity, and wireless connectivity applications.