Nicholas Company Inc. Has $30.69 Million Stock Position in Microchip Technology Incorporated $MCHP

Nicholas Company Inc. cut its holdings in shares of Microchip Technology Incorporated (NASDAQ:MCHP) by 9.1% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 336,467 shares of the semiconductor company’s stock after selling 33,685 shares during the period. Nicholas Company Inc.’s holdings in Microchip Technology were worth $30,686,000 at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of the business. North Dakota State Investment Board increased its stake in shares of Microchip Technology by 2.9% in the 2nd quarter. North Dakota State Investment Board now owns 15,693 shares of the semiconductor company’s stock valued at $1,431,000 after purchasing an additional 438 shares during the last quarter. USA Financial Formulas bought a new stake in shares of Microchip Technology during the 1st quarter worth $688,000. Caitong International Asset Management Co. Ltd bought a new stake in shares of Microchip Technology during the 2nd quarter worth $3,937,000. 71 West Capital Partners acquired a new stake in Microchip Technology in the second quarter valued at about $336,000. Finally, Mindset Wealth Management LLC boosted its stake in Microchip Technology by 3.4% in the second quarter. Mindset Wealth Management LLC now owns 14,163 shares of the semiconductor company’s stock valued at $1,292,000 after buying an additional 465 shares in the last quarter. Institutional investors and hedge funds own 91.51% of the company’s stock.

Microchip Technology Trading Up 1.9%

Shares of MCHP stock opened at $79.17 on Friday. Microchip Technology Incorporated has a twelve month low of $48.52 and a twelve month high of $105.91. The stock’s fifty day simple moving average is $85.72 and its 200 day simple moving average is $81.47. The company has a quick ratio of 1.11, a current ratio of 1.92 and a debt-to-equity ratio of 0.83. The firm has a market capitalization of $42.99 billion, a P/E ratio of 118.17, a P/E/G ratio of 0.62 and a beta of 1.76.

Microchip Technology (NASDAQ:MCHP) last posted its earnings results on Thursday, August 6th. The semiconductor company reported $0.76 EPS for the quarter, beating the consensus estimate of $0.70 by $0.06. Microchip Technology had a return on equity of 14.97% and a net margin of 9.34%.The firm had revenue of $1.48 billion during the quarter, compared to the consensus estimate of $1.46 billion. During the same period last year, the company earned $0.27 earnings per share. The business’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. As a group, sell-side analysts predict that Microchip Technology Incorporated will post 2.81 EPS for the current fiscal year.

Microchip Technology Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 9th. Investors of record on Monday, August 24th will be issued a $0.455 dividend. This represents a $1.82 dividend on an annualized basis and a yield of 2.3%. The ex-dividend date is Monday, August 24th. Microchip Technology’s dividend payout ratio (DPR) is 271.64%.

Insider Activity at Microchip Technology

In other Microchip Technology news, COO Richard J. Simoncic sold 5,000 shares of the company’s stock in a transaction that occurred on Thursday, June 4th. The shares were sold at an average price of $97.52, for a total value of $487,600.00. Following the completion of the transaction, the chief operating officer directly owned 130,508 shares in the company, valued at approximately $12,727,140.16. This represents a 3.69% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Matthew W. Chapman sold 3,000 shares of the company’s stock in a transaction that occurred on Thursday, May 28th. The shares were sold at an average price of $97.52, for a total transaction of $292,560.00. Following the completion of the transaction, 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 ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 16,667 shares of company stock worth $1,580,580 in the last quarter. 1.79% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the company. Wall Street Zen raised Microchip Technology from a “hold” rating to a “buy” rating in a research note on Saturday, May 9th. UBS Group restated a “buy” rating and issued a $120.00 price target (down from $130.00) on shares of Microchip Technology in a research note on Friday, August 7th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $125.00 price target on shares of Microchip Technology in a report on Monday, August 3rd. TD Cowen decreased their price target on shares of Microchip Technology from $105.00 to $90.00 and set a “hold” rating on the stock in a report on Monday, July 13th. Finally, Citigroup lowered their price objective on shares of Microchip Technology from $113.00 to $95.00 and set a “buy” rating for the company in a research report on Friday, August 7th. Three analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and seven have assigned a Hold rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $98.85.

Microchip Technology Profile

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.