Microchip Technology Incorporated $MCHP Shares Sold by NewEdge Advisors LLC

NewEdge Advisors LLC reduced its holdings in shares of Microchip Technology Incorporated (NASDAQ:MCHP) by 25.2% in the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 32,187 shares of the semiconductor company’s stock after selling 10,849 shares during the period. NewEdge Advisors LLC’s holdings in Microchip Technology were worth $2,080,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in MCHP. Resonant Capital Advisors LLC increased its stake in shares of Microchip Technology by 0.9% in the first quarter. Resonant Capital Advisors LLC now owns 12,542 shares of the semiconductor company’s stock worth $810,000 after buying an additional 118 shares during the last quarter. MCF Advisors LLC raised its holdings in Microchip Technology by 25.8% in the fourth quarter. MCF Advisors LLC now owns 659 shares of the semiconductor company’s stock valued at $42,000 after acquiring an additional 135 shares in the last quarter. Gagnon Securities LLC boosted its stake in Microchip Technology by 0.5% during the 4th quarter. Gagnon Securities LLC now owns 27,162 shares of the semiconductor company’s stock valued at $1,731,000 after acquiring an additional 137 shares during the last quarter. Evelyn Partners Investment Management LLP boosted its stake in Microchip Technology by 1.5% during the 4th quarter. Evelyn Partners Investment Management LLP now owns 9,300 shares of the semiconductor company’s stock valued at $593,000 after acquiring an additional 140 shares during the last quarter. Finally, Millstone Evans Group LLC grew its holdings in Microchip Technology by 23.7% during the 4th quarter. Millstone Evans Group LLC now owns 742 shares of the semiconductor company’s stock worth $47,000 after acquiring an additional 142 shares in the last quarter. 91.51% of the stock is currently owned by hedge funds and other institutional investors.

Microchip Technology Price Performance

Shares of NASDAQ MCHP opened at $79.17 on Friday. The company has a debt-to-equity ratio of 0.83, a current ratio of 1.92 and a quick ratio of 1.11. The firm has a market capitalization of $42.99 billion, a PE ratio of 118.17, a P/E/G ratio of 0.61 and a beta of 1.76. Microchip Technology Incorporated has a 1-year low of $48.52 and a 1-year high of $105.91. The business’s fifty day moving average price is $85.72 and its two-hundred day moving average price is $81.47.

Microchip Technology (NASDAQ:MCHP) last released its quarterly earnings results on Thursday, August 6th. The semiconductor company reported $0.76 EPS for the quarter, topping the consensus estimate of $0.70 by $0.06. Microchip Technology had a net margin of 9.34% and a return on equity of 14.97%. The business had revenue of $1.48 billion during the quarter, compared to analyst estimates of $1.46 billion. During the same quarter in the prior year, the firm earned $0.27 earnings per share. The company’s quarterly revenue was up 38.0% on a year-over-year basis. Microchip Technology has set its Q2 2027 guidance at 0.910-0.950 EPS. On average, research analysts expect that Microchip Technology Incorporated will post 2.81 EPS for the current year.

Microchip Technology Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 9th. Shareholders of record on Monday, August 24th will be given a $0.455 dividend. The ex-dividend date is Monday, August 24th. This represents a $1.82 annualized dividend and a yield of 2.3%. Microchip Technology’s dividend payout ratio is 271.64%.

Analysts Set New Price Targets

Several research firms have recently weighed in on MCHP. Barclays boosted their target price on shares of Microchip Technology from $80.00 to $105.00 and gave the stock an “equal weight” rating in a research report on Monday, May 11th. Weiss Ratings upgraded Microchip Technology from a “hold (c-)” rating to a “hold (c)” rating in a research note on Tuesday. Citigroup lowered their price objective on Microchip Technology from $113.00 to $95.00 and set a “buy” rating for the company in a report on Friday, August 7th. UBS Group reaffirmed a “buy” rating and set a $120.00 target price (down from $130.00) on shares of Microchip Technology in a report on Friday, August 7th. Finally, Wells Fargo & Company decreased their target price on Microchip Technology from $95.00 to $88.00 and set an “equal weight” rating for the company in a research report on Monday, July 20th. Three equities research analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and seven have given a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $98.85.

Insiders Place Their Bets

In other news, CFO James Eric Bjornholt sold 3,667 shares of Microchip Technology stock in a transaction that occurred on Friday, May 22nd. The stock was sold at an average price of $90.87, for a total transaction of $333,220.29. Following the sale, the chief financial officer owned 28,573 shares of the company’s stock, valued at approximately $2,596,428.51. The trade was a 11.37% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 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 transaction, the chief operating officer owned 130,508 shares of the company’s stock, valued at approximately $12,727,140.16. This represents a 3.69% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders sold 16,667 shares of company stock worth $1,580,580. Insiders own 1.79% of the company’s stock.

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.