Handelsbanken Fonder AB Purchases 39,412 Shares of Microchip Technology Incorporated $MCHP

Handelsbanken Fonder AB increased its position in shares of Microchip Technology Incorporated (NASDAQ:MCHP) by 15.8% during the second quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 289,566 shares of the semiconductor company’s stock after buying an additional 39,412 shares during the quarter. Handelsbanken Fonder AB’s holdings in Microchip Technology were worth $26,408,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in MCHP. City Holding Co. grew its stake in Microchip Technology by 4.0% in the second quarter. City Holding Co. now owns 26,614 shares of the semiconductor company’s stock valued at $2,427,000 after acquiring an additional 1,019 shares during the period. Fulton Bank N.A. raised its position in shares of Microchip Technology by 9.6% during the second quarter. Fulton Bank N.A. now owns 14,190 shares of the semiconductor company’s stock worth $1,294,000 after purchasing an additional 1,242 shares during the period. Wealthcare Advisory Partners LLC lifted its holdings in shares of Microchip Technology by 2.5% in the 2nd quarter. Wealthcare Advisory Partners LLC now owns 10,675 shares of the semiconductor company’s stock worth $974,000 after purchasing an additional 261 shares in the last quarter. Legacy Wealth Asset Management LLC lifted its holdings in shares of Microchip Technology by 2.9% in the 2nd quarter. Legacy Wealth Asset Management LLC now owns 8,634 shares of the semiconductor company’s stock worth $787,000 after purchasing an additional 247 shares in the last quarter. Finally, Everpar Advisors LLC grew its position in Microchip Technology by 6.9% in the 2nd quarter. Everpar Advisors LLC now owns 3,675 shares of the semiconductor company’s stock valued at $335,000 after purchasing an additional 238 shares during the period. Institutional investors and hedge funds own 91.51% of the company’s stock.

Analyst Upgrades and Downgrades

MCHP has been the subject of a number of recent research reports. TD Cowen decreased their price target on shares of Microchip Technology from $105.00 to $90.00 and set a “hold” rating for the company in a research note on Monday, July 13th. Rosenblatt Securities reaffirmed a “buy” rating and issued a $120.00 price objective on shares of Microchip Technology in a research note on Friday, August 7th. Barclays lifted their price objective on shares of Microchip Technology from $80.00 to $105.00 and gave the company an “equal weight” rating in a report on Monday, May 11th. Citigroup decreased their target price 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. Finally, Zacks Research upgraded shares of Microchip Technology from a “hold” rating to a “strong-buy” rating in a report on Tuesday, May 12th. Three analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating and seven have given a Hold rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $98.85.

Microchip Technology Trading Down 2.0%

Shares of Microchip Technology stock opened at $79.44 on Thursday. The company has a market capitalization of $43.14 billion, a P/E ratio of 118.57, a price-to-earnings-growth ratio of 0.65 and a beta of 1.76. The stock has a fifty day simple moving average of $86.28 and a 200 day simple moving average of $81.47. Microchip Technology Incorporated has a 12-month low of $48.52 and a 12-month high of $105.91. The company has a current ratio of 1.92, a quick ratio of 1.11 and a debt-to-equity ratio of 0.83.

Microchip Technology (NASDAQ:MCHP) last issued its quarterly earnings data on Thursday, August 6th. The semiconductor company reported $0.76 earnings per share for the quarter, beating 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 return on equity of 14.97% and a net margin of 9.34%.The business’s revenue was up 38.0% on a year-over-year basis. During the same period last year, the business earned $0.27 EPS. Microchip Technology has set its Q2 2027 guidance at 0.910-0.950 EPS. On average, sell-side analysts anticipate that Microchip Technology Incorporated will post 2.74 earnings per share for the current fiscal year.

Microchip Technology Announces Dividend

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

Insider Activity at Microchip Technology

In other Microchip Technology news, CFO James Eric Bjornholt sold 3,667 shares of the company’s stock in a transaction dated Friday, May 22nd. The shares were sold at an average price of $90.87, for a total value of $333,220.29. Following the completion of the sale, the chief financial officer directly owned 28,573 shares of the company’s stock, valued at approximately $2,596,428.51. This represents a 11.37% decrease in their position. The sale was disclosed in a document filed 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 stock in a transaction dated Friday, May 22nd. The shares were sold at an average price of $93.44, for a total transaction of $467,200.00. Following the completion of the sale, the chief operating officer owned 135,508 shares of the company’s stock, valued at approximately $12,661,867.52. This trade represents a 3.56% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 26,750 shares of company stock valued at $2,543,170 over the last ninety days. Corporate insiders own 1.79% of the company’s stock.

Microchip Technology Company 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.