Profund Advisors LLC Sells 6,922 Shares of Microchip Technology Incorporated $MCHP

Profund Advisors LLC cut its holdings in shares of Microchip Technology Incorporated (NASDAQ:MCHP) by 9.2% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 67,984 shares of the semiconductor company’s stock after selling 6,922 shares during the quarter. Profund Advisors LLC’s holdings in Microchip Technology were worth $5,287,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also added to or reduced their stakes in MCHP. Barrow Hanley Mewhinney & Strauss LLC bought a new stake in Microchip Technology during the second quarter valued at approximately $537,423,000. Legal & General Group Plc bought a new stake in shares of Microchip Technology in the second quarter worth about $312,597,000. Van ECK Associates Corp raised its holdings in shares of Microchip Technology by 18.3% during the second quarter. Van ECK Associates Corp now owns 8,224,808 shares of the semiconductor company’s stock valued at $750,102,000 after acquiring an additional 1,272,838 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in shares of Microchip Technology by 23.5% during the 2nd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 5,060,528 shares of the semiconductor company’s stock valued at $461,520,000 after purchasing an additional 962,362 shares in the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund raised its position in shares of Microchip Technology by 52.8% in the 1st quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 2,601,121 shares of the semiconductor company’s stock worth $168,058,000 after acquiring an additional 898,503 shares in the last quarter. Institutional investors own 91.51% of the company’s stock.

Insider Transactions at Microchip Technology

In other Microchip Technology news, CFO James Bjornholt sold 4,112 shares of Microchip Technology stock in a transaction dated Tuesday, August 25th. The stock was 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 in the company, valued at $2,152,118.36. The trade was a 12.58% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 1.79% of the stock is owned by company insiders.

Microchip Technology Stock Down 4.7%

Shares of NASDAQ:MCHP opened at $77.34 on Friday. The business has a 50 day simple moving average of $75.26 and a two-hundred day simple moving average of $79.50. The firm has a market capitalization of $42.00 billion, a PE ratio of 115.43, a price-to-earnings-growth ratio of 0.53 and a beta of 1.77. The company has a debt-to-equity ratio of 0.83, a current ratio of 1.92 and a quick ratio of 1.11. Microchip Technology Incorporated has a 1 year low of $48.52 and a 1 year 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 for the quarter, topping 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 business had revenue of $1.48 billion for the quarter, compared to analyst estimates of $1.46 billion. During the same quarter last year, the firm posted $0.27 earnings per share. The business’s 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, equities analysts predict that Microchip Technology Incorporated will post 3.20 EPS for the current year.

Microchip Technology Dividend Announcement

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

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on MCHP shares. Cantor Fitzgerald reissued an “overweight” rating on shares of Microchip Technology in a research note on Wednesday, September 9th. Wells Fargo & Company cut their target price on Microchip Technology from $88.00 to $80.00 and set an “equal weight” rating on the stock in a research note on Tuesday, October 20th. B. Riley Financial decreased their target price on shares of Microchip Technology from $108.00 to $98.00 and set a “buy” rating for the company in a research note on Thursday, October 22nd. Weiss Ratings raised shares of Microchip Technology from a “hold (c-)” rating to a “hold (c)” rating in a report on Tuesday, August 11th. Finally, Rosenblatt Securities restated a “buy” rating and issued a $120.00 price target on shares of Microchip Technology in a research report on Friday, August 7th. Three analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and eight have issued a Hold rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $97.71.

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.