SVB Wealth LLC Reduces Holdings in Microchip Technology Incorporated $MCHP

SVB Wealth LLC reduced its position in Microchip Technology Incorporated (NASDAQ:MCHP) by 24.6% in the 2nd quarter, Holdings Channel reports. The firm owned 21,044 shares of the semiconductor company’s stock after selling 6,872 shares during the quarter. SVB Wealth LLC’s holdings in Microchip Technology were worth $1,919,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. TOP Private Wealth LLC. purchased a new stake in shares of Microchip Technology during the second quarter worth $29,000. EFG International AG acquired a new stake in Microchip Technology in the 4th quarter valued at about $29,000. Miller Capital Partners Inc. purchased a new stake in shares of Microchip Technology in the fourth quarter valued at approximately $29,000. Continuum Advisory LLC purchased a new stake in shares of Microchip Technology in the second quarter valued at approximately $30,000. Finally, Johnson Financial Group Inc. acquired a new stake in shares of Microchip Technology in the second quarter valued at approximately $31,000. Institutional investors and hedge funds own 91.51% of the company’s stock.

Microchip Technology Trading Down 0.5%

Shares of Microchip Technology stock opened at $73.01 on Thursday. The stock has a 50 day moving average of $78.83 and a 200 day moving average of $81.11. The company has a debt-to-equity ratio of 0.83, a quick ratio of 1.11 and a current ratio of 1.92. The firm has a market capitalization of $39.65 billion, a price-to-earnings ratio of 108.97, a PEG ratio of 0.51 and a beta of 1.75. Microchip Technology Incorporated has a fifty-two week low of $48.52 and a fifty-two week high of $105.91.

Microchip Technology (NASDAQ:MCHP) last posted its earnings results on Thursday, August 6th. The semiconductor company reported $0.76 EPS for the quarter, beating analysts’ consensus estimates of $0.70 by $0.06. Microchip Technology had a return on equity of 14.97% and a net margin of 9.34%.The company had revenue of $1.48 billion for the quarter, compared to the consensus estimate of $1.46 billion. During the same quarter in the previous year, the business earned $0.27 earnings per share. The company’s revenue for the quarter 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, research analysts predict that Microchip Technology Incorporated will post 3.16 earnings per share for the current year.

Microchip Technology Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, September 9th. Investors of record on Monday, August 24th were issued a $0.455 dividend. This represents a $1.82 annualized dividend and a yield of 2.5%. The ex-dividend date was Monday, August 24th. Microchip Technology’s payout ratio is 271.64%.

Insider Transactions at Microchip Technology

In other Microchip Technology news, CFO James Bjornholt sold 4,112 shares of the company’s stock in a transaction dated Tuesday, August 25th. The shares were sold at an average price of $75.32, for a total value of $309,715.84. Following the transaction, the chief financial officer owned 28,573 shares of the company’s stock, valued at $2,152,118.36. This represents a 12.58% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 1.79% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on the company. TD Cowen reduced their price objective on Microchip Technology from $105.00 to $90.00 and set a “hold” rating on the stock in a research report on Monday, July 13th. Truist Financial dropped their target price on Microchip Technology from $105.00 to $90.00 and set a “hold” rating for the company in a report on Friday, August 7th. Citigroup reduced their price target on Microchip Technology from $113.00 to $95.00 and set a “buy” rating on the stock in a report on Friday, August 7th. Rosenblatt Securities reissued a “buy” rating and set a $120.00 price target on shares of Microchip Technology in a research report on Friday, August 7th. Finally, Wells Fargo & Company dropped their price objective on shares of Microchip Technology from $95.00 to $88.00 and set an “equal weight” rating for the company in a report on Monday, July 20th. Three investment 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 company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $98.67.

Microchip Technology Profile

Microchip Technology Incorporated (NASDAQ: MCHP) develops and manufactures semiconductor products for embedded control and connected applications. Its portfolio includes microcontrollers, microprocessors, analog and mixed-signal devices, power-management products, timing and connectivity solutions, memory products, field-programmable gate arrays (FPGAs), and security components.

The company also provides development tools, software, reference designs, and technical support that help customers design and integrate embedded systems.