Microchip Technology Incorporated $MCHP Stock: Profund Advisors LLC Reduces Position

Profund Advisors LLC lessened its holdings in Microchip Technology Incorporated (NASDAQ:MCHP) by 9.2% during the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 67,984 shares of the semiconductor company’s stock after selling 6,922 shares during the period. Profund Advisors LLC’s holdings in Microchip Technology were worth $5,287,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also modified their holdings of the stock. TOP Private Wealth LLC. purchased a new stake in Microchip Technology in the 2nd quarter worth approximately $29,000. Continuum Advisory LLC acquired a new stake in shares of Microchip Technology in the second quarter valued at about $30,000. Johnson Financial Group Inc. acquired a new position in shares of Microchip Technology during the 2nd quarter worth approximately $31,000. Rakuten Securities Inc. acquired a new position in Microchip Technology during the second quarter worth $34,000. Finally, GK Wealth Management LLC acquired a new position in shares of Microchip Technology during the 3rd quarter valued at about $29,000. Institutional investors and hedge funds own 91.51% of the company’s stock.

Insider Buying and Selling

In other Microchip Technology news, CFO James Bjornholt sold 4,112 shares of Microchip Technology stock in a transaction that occurred on Tuesday, August 25th. The stock was sold at an average price of $75.32, for a total value of $309,715.84. Following the completion of the transaction, the chief financial officer directly owned 28,573 shares in the company, valued at $2,152,118.36. The trade was a 12.58% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 1.79% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

MCHP has been the subject of several recent analyst reports. B. Riley Financial cut their target price on Microchip Technology from $108.00 to $98.00 and set a “buy” rating for the company in a research note on Thursday, October 22nd. Citigroup reduced their target price on shares of Microchip Technology from $113.00 to $95.00 and set a “buy” rating on the stock in a report on Friday, August 7th. BMO Capital Markets initiated coverage on Microchip Technology in a research report on Friday, August 21st. They set an “outperform” rating and a $95.00 target price on the stock. Wells Fargo & Company cut their price target on Microchip Technology from $88.00 to $80.00 and set an “equal weight” rating on the stock in a research report on Tuesday, October 20th. Finally, Zacks Research cut Microchip Technology from a “strong-buy” rating to a “hold” rating in a research report on Monday, August 17th. Three research analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and eight have assigned a Hold rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $97.71.

Microchip Technology Trading Down 4.7%

Microchip Technology stock opened at $77.34 on Friday. The stock has a 50-day moving average price of $75.26 and a 200 day moving average price of $79.50. 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 stock has a market cap of $42.00 billion, a PE ratio of 115.43, a P/E/G ratio of 0.53 and a beta of 1.77. Microchip Technology Incorporated has a 52 week low of $48.52 and a 52 week high of $105.91.

Microchip Technology (NASDAQ:MCHP) last released its earnings results on Thursday, August 6th. The semiconductor company reported $0.76 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.70 by $0.06. The business had revenue of $1.48 billion for the quarter, compared to analysts’ expectations of $1.46 billion. Microchip Technology had a net margin of 9.34% and a return on equity of 14.97%. The company’s quarterly revenue was up 38.0% on a year-over-year basis. During the same period last year, the company earned $0.27 earnings per share. Microchip Technology has set its Q2 2027 guidance at 0.910-0.950 EPS. Equities research analysts predict that Microchip Technology Incorporated will post 3.20 earnings per share for the current fiscal year.

Microchip Technology Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, September 9th. Stockholders of record on Monday, August 24th were paid a $0.4550 dividend. This represents a $1.82 dividend on an annualized basis and a dividend yield of 2.4%. The ex-dividend date was Monday, August 24th. Microchip Technology’s dividend payout ratio is 271.64%.

Microchip Technology Profile

Microchip Technology Incorporated (NASDAQ:MCHP) develops and manufactures semiconductor products used in embedded control and connected electronic systems. Its portfolio includes microcontrollers, microprocessors, analog and power-management devices, memory products, timing and connectivity components, security solutions, and field-programmable gate arrays. The company also provides development tools, software, evaluation kits, and technical support to help customers design and produce electronic equipment.

Microchip’s products are used across a range of markets, including automotive, industrial, aerospace and defense, communications, consumer electronics, data centers, and medical applications.