Westchester Capital Management Inc. Sells 182 Shares of Microchip Technology Incorporated $MCHP

Westchester Capital Management Inc. lowered its holdings in shares of Microchip Technology Incorporated (NASDAQ:MCHP) by 0.1% in the 2nd quarter, HoldingsChannel.com reports. The firm owned 190,366 shares of the semiconductor company’s stock after selling 182 shares during the period. Microchip Technology comprises approximately 3.2% of Westchester Capital Management Inc.’s portfolio, making the stock its 15th biggest holding. Westchester Capital Management Inc.’s holdings in Microchip Technology were worth $13,396,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. Sequoia Financial Advisors LLC lifted its holdings in shares of Microchip Technology by 7.3% in the second quarter. Sequoia Financial Advisors LLC now owns 20,270 shares of the semiconductor company’s stock worth $1,426,000 after buying an additional 1,373 shares in the last quarter. Vest Financial LLC increased its holdings in Microchip Technology by 21.8% in the 2nd quarter. Vest Financial LLC now owns 24,471 shares of the semiconductor company’s stock valued at $1,722,000 after acquiring an additional 4,381 shares during the last quarter. MGO One Seven LLC bought a new stake in Microchip Technology in the 2nd quarter valued at $208,000. Welch Group LLC purchased a new stake in Microchip Technology in the 2nd quarter worth $257,000. Finally, Allspring Global Investments Holdings LLC boosted its holdings in shares of Microchip Technology by 3.0% during the 2nd quarter. Allspring Global Investments Holdings LLC now owns 26,826 shares of the semiconductor company’s stock valued at $1,923,000 after purchasing an additional 772 shares during the last quarter. 91.51% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Microchip Technology

In related news, Director Matthew W. Chapman sold 10,000 shares of the business’s stock in a transaction that occurred on Monday, August 25th. The stock was sold at an average price of $68.25, for a total value of $682,500.00. Following the completion of the sale, the director owned 30,665 shares in the company, valued at approximately $2,092,886.25. The trade was a 24.59% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO James Eric Bjornholt sold 7,356 shares of the stock in a transaction on Monday, August 25th. The stock was sold at an average price of $68.72, for a total value of $505,504.32. Following the transaction, the chief financial officer directly owned 30,010 shares in the company, valued at $2,062,287.20. The trade was a 19.69% decrease in their position. The disclosure for this sale can be found here. Insiders own 1.94% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on the company. Mizuho boosted their target price on Microchip Technology from $78.00 to $85.00 and gave the stock an “outperform” rating in a research report on Tuesday, July 8th. Weiss Ratings reiterated a “sell (d+)” rating on shares of Microchip Technology in a research report on Wednesday, October 8th. Susquehanna raised their target price on shares of Microchip Technology from $60.00 to $90.00 and gave the company a “positive” rating in a report on Tuesday, July 22nd. KeyCorp increased their price objective on shares of Microchip Technology from $70.00 to $85.00 and gave the company an “overweight” rating in a research report on Tuesday, July 8th. Finally, The Goldman Sachs Group initiated coverage on shares of Microchip Technology in a report on Thursday, July 10th. They issued a “buy” rating and a $88.00 target price on the stock. One analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, seven have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $75.75.

Microchip Technology Stock Down 8.3%

Shares of NASDAQ:MCHP opened at $60.41 on Monday. The business has a 50 day simple moving average of $65.26 and a two-hundred day simple moving average of $61.13. The firm has a market capitalization of $32.60 billion, a PE ratio of -177.68, a price-to-earnings-growth ratio of 1.73 and a beta of 1.55. The company has a debt-to-equity ratio of 0.80, a current ratio of 2.31 and a quick ratio of 1.33. Microchip Technology Incorporated has a 1 year low of $34.13 and a 1 year high of $79.44.

Microchip Technology (NASDAQ:MCHP) last released its earnings results on Thursday, August 7th. The semiconductor company reported $0.27 earnings per share for the quarter, topping the consensus estimate of $0.24 by $0.03. The business had revenue of $1.08 billion during the quarter, compared to the consensus estimate of $1.05 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 13.3% compared to the same quarter last year. During the same period last year, the company earned $0.53 earnings per share. Microchip Technology has set its Q2 2026 guidance at 0.340-0.370 EPS. On average, equities analysts predict that Microchip Technology Incorporated will post 1.03 EPS for the current year.

Microchip Technology Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, September 5th. Stockholders of record on Friday, August 22nd were given a dividend of $0.455 per share. The ex-dividend date of this dividend was Friday, August 22nd. This represents a $1.82 dividend on an annualized basis and a dividend yield of 3.0%. Microchip Technology’s dividend payout ratio (DPR) is -535.29%.

Microchip Technology 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.