Van Cleef Asset Management Inc Invests $246,000 in Microchip Technology Incorporated $MCHP

Van Cleef Asset Management Inc purchased a new position in shares of Microchip Technology Incorporated (NASDAQ:MCHP) in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 3,500 shares of the semiconductor company’s stock, valued at approximately $246,000.

Several other large investors have also bought and sold shares of the business. Sagespring Wealth Partners LLC raised its position in shares of Microchip Technology by 2.7% during the 2nd quarter. Sagespring Wealth Partners LLC now owns 5,787 shares of the semiconductor company’s stock valued at $407,000 after acquiring an additional 154 shares during the last quarter. Mechanics Financial Corp grew its stake in shares of Microchip Technology by 3.4% during the second quarter. Mechanics Financial Corp now owns 5,014 shares of the semiconductor company’s stock worth $353,000 after purchasing an additional 167 shares during the period. Global X Japan Co. Ltd. grew its stake in shares of Microchip Technology by 0.4% during the second quarter. Global X Japan Co. Ltd. now owns 45,705 shares of the semiconductor company’s stock worth $3,216,000 after purchasing an additional 174 shares during the period. Bank of Jackson Hole Trust increased its holdings in Microchip Technology by 2.0% in the second quarter. Bank of Jackson Hole Trust now owns 8,828 shares of the semiconductor company’s stock valued at $621,000 after purchasing an additional 174 shares during the last quarter. Finally, Pinnacle Bancorp Inc. lifted its stake in Microchip Technology by 18.9% in the second quarter. Pinnacle Bancorp Inc. now owns 1,206 shares of the semiconductor company’s stock valued at $85,000 after buying an additional 192 shares during the period. 91.51% of the stock is currently owned by institutional investors and hedge funds.

Microchip Technology Trading Down 5.2%

MCHP opened at $56.28 on Friday. The stock has a market capitalization of $30.37 billion, a P/E ratio of -165.53, 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. Microchip Technology Incorporated has a 12 month low of $34.13 and a 12 month high of $77.20. The firm’s fifty day simple moving average is $64.24 and its 200 day simple moving average is $64.08.

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

Microchip Technology Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 9th. Shareholders of record on Monday, November 24th will be paid a $0.455 dividend. The ex-dividend date is Monday, November 24th. This represents a $1.82 annualized dividend and a yield of 3.2%. Microchip Technology’s payout ratio is presently -535.29%.

Insider Buying and Selling

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

Analyst Ratings Changes

MCHP has been the subject of a number of analyst reports. Truist Financial restated a “hold” rating and set a $60.00 price objective (down previously from $64.00) on shares of Microchip Technology in a report on Friday. Zacks Research cut shares of Microchip Technology from a “strong-buy” rating to a “hold” rating in a research report on Monday, August 18th. Citigroup decreased their price target on shares of Microchip Technology from $90.00 to $80.00 and set a “buy” rating for the company in a report on Friday. Wells Fargo & Company dropped their price objective on Microchip Technology from $60.00 to $58.00 and set an “equal weight” rating on the stock in a research note on Friday. Finally, Raymond James Financial boosted their target price on Microchip Technology from $65.00 to $75.00 and gave the company a “strong-buy” rating in a research note on Friday, August 8th. One equities research analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating, seven have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $73.47.

About Microchip Technology

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.