NewEdge Advisors LLC Decreases Stock Position in Microchip Technology Incorporated $MCHP

NewEdge Advisors LLC trimmed its holdings in Microchip Technology Incorporated (NASDAQ:MCHP) by 25.2% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund 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 filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. AQR Capital Management LLC increased its stake in shares of Microchip Technology by 51.3% during the 1st quarter. AQR Capital Management LLC now owns 17,201 shares of the semiconductor company’s stock worth $827,000 after purchasing an additional 5,835 shares in the last quarter. Geneos Wealth Management Inc. lifted its stake in Microchip Technology by 101.8% in the 1st quarter. Geneos Wealth Management Inc. now owns 1,221 shares of the semiconductor company’s stock valued at $59,000 after buying an additional 616 shares in the last quarter. Cresset Asset Management LLC grew its holdings in Microchip Technology by 5.4% during the 2nd quarter. Cresset Asset Management LLC now owns 11,433 shares of the semiconductor company’s stock valued at $805,000 after buying an additional 589 shares during the last quarter. AXA S.A. grew its holdings in Microchip Technology by 21.3% during the 2nd quarter. AXA S.A. now owns 51,552 shares of the semiconductor company’s stock valued at $3,628,000 after buying an additional 9,043 shares during the last quarter. Finally, Treasurer of the State of North Carolina increased its position in Microchip Technology by 1.6% during the second quarter. Treasurer of the State of North Carolina now owns 246,530 shares of the semiconductor company’s stock worth $17,348,000 after buying an additional 3,851 shares in the last quarter. Institutional investors and hedge funds own 91.51% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on MCHP shares. Truist Financial cut their price target on Microchip Technology from $105.00 to $90.00 and set a “hold” rating for the company in a report on Friday, August 7th. Needham & Company LLC increased their price objective on Microchip Technology from $84.00 to $120.00 and gave the company a “buy” rating in a research note on Friday, May 8th. JPMorgan Chase & Co. lifted their price objective on Microchip Technology from $95.00 to $120.00 and gave the stock an “overweight” rating in a research report on Friday, May 8th. Weiss Ratings raised shares of Microchip Technology from a “hold (c-)” rating to a “hold (c)” rating in a research note on Tuesday. Finally, Rosenblatt Securities restated a “buy” rating and issued a $120.00 target price on shares of Microchip Technology in a report on Friday, August 7th. Three equities research analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating and seven have assigned a Hold rating to the stock. According to MarketBeat, Microchip Technology currently has an average rating of “Moderate Buy” and an average price target of $98.85.

Insider Buying and Selling

In related news, COO Richard J. Simoncic sold 5,000 shares of Microchip Technology stock in a transaction on Thursday, June 4th. The shares were sold at an average price of $97.52, for a total transaction of $487,600.00. Following the sale, the chief operating officer owned 130,508 shares of the company’s stock, valued at $12,727,140.16. The trade was a 3.69% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Matthew W. Chapman sold 3,000 shares of the business’s stock in a transaction on Thursday, May 28th. The stock was 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 in the company, valued at $1,722,690.80. This represents a 14.52% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 16,667 shares of company stock valued at $1,580,580 in the last quarter. Company insiders own 1.79% of the company’s stock.

Microchip Technology Trading Up 1.9%

Shares of MCHP stock opened at $79.17 on Friday. The stock has a market cap of $42.99 billion, a price-to-earnings ratio of 118.17, a price-to-earnings-growth ratio of 0.61 and a beta of 1.76. The company has a quick ratio of 1.11, a current ratio of 1.92 and a debt-to-equity ratio of 0.83. Microchip Technology Incorporated has a fifty-two week low of $48.52 and a fifty-two week high of $105.91. The firm’s 50 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 data 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. Microchip Technology had a net margin of 9.34% and a return on equity of 14.97%. The company 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 business earned $0.27 earnings per share. The business’s quarterly revenue was up 38.0% compared to the same quarter last year. Microchip Technology has set its Q2 2027 guidance at 0.910-0.950 EPS. On average, analysts anticipate that Microchip Technology Incorporated will post 2.81 EPS for the current 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 issued a dividend of $0.455 per share. This represents a $1.82 dividend on an annualized basis and a 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%.

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.