Violich Capital Management Inc. Takes Position in Microchip Technology Incorporated $MCHP

Violich Capital Management Inc. purchased a new stake in shares of Microchip Technology Incorporated (NASDAQ:MCHP) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 3,500 shares of the semiconductor company’s stock, valued at approximately $246,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. Sowell Financial Services LLC bought a new position in Microchip Technology in the 1st quarter worth $318,000. Oppenheimer Asset Management Inc. raised its holdings in Microchip Technology by 35.8% in the 1st quarter. Oppenheimer Asset Management Inc. now owns 33,554 shares of the semiconductor company’s stock worth $1,624,000 after acquiring an additional 8,843 shares during the period. Flagship Harbor Advisors LLC raised its holdings in Microchip Technology by 67.3% in the 1st quarter. Flagship Harbor Advisors LLC now owns 16,098 shares of the semiconductor company’s stock worth $779,000 after acquiring an additional 6,474 shares during the period. Argonautica Private Wealth Management Inc. bought a new position in Microchip Technology in the 1st quarter worth $428,000. Finally, Mirae Asset Global Investments Co. Ltd. raised its holdings in Microchip Technology by 9.6% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 937,682 shares of the semiconductor company’s stock worth $45,665,000 after acquiring an additional 82,490 shares during the period. Institutional investors own 91.51% of the company’s stock.

Insider Transactions at Microchip Technology

In other Microchip Technology news, Director Matthew W. Chapman sold 10,000 shares of the business’s stock in a transaction dated Monday, August 25th. The shares were sold at an average price of $68.25, for a total value of $682,500.00. Following the transaction, the director directly owned 30,665 shares in the company, valued at $2,092,886.25. The trade was a 24.59% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO James Eric Bjornholt sold 7,356 shares of the business’s stock in a transaction dated Monday, August 25th. The shares were sold at an average price of $68.72, for a total transaction of $505,504.32. Following the completion of the transaction, the chief financial officer owned 30,010 shares in the company, valued at approximately $2,062,287.20. This trade represents a 19.69% decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.94% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several brokerages recently commented on MCHP. Needham & Company LLC lifted their target price on shares of Microchip Technology from $66.00 to $77.00 and gave the stock a “buy” rating in a report on Friday, August 8th. Wall Street Zen upgraded shares of Microchip Technology from a “sell” rating to a “hold” rating in a report on Friday, June 27th. Raymond James Financial boosted their price objective on shares of Microchip Technology from $65.00 to $75.00 and gave the stock a “strong-buy” rating in a report on Friday, August 8th. Wells Fargo & Company initiated coverage on shares of Microchip Technology in a report on Monday, September 15th. They set an “equal weight” rating and a $60.00 price objective on the stock. Finally, Stifel Nicolaus boosted their price objective on shares of Microchip Technology from $70.00 to $82.00 and gave the stock a “buy” rating in a report on Friday, July 18th. One analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, seven have assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, Microchip Technology presently has an average rating of “Moderate Buy” and a consensus target price of $75.75.

Microchip Technology Price Performance

Shares of Microchip Technology stock opened at $65.14 on Friday. The company has a debt-to-equity ratio of 0.80, a quick ratio of 1.33 and a current ratio of 2.31. The firm’s 50-day simple moving average is $65.19 and its 200-day simple moving average is $61.61. Microchip Technology Incorporated has a twelve month low of $34.13 and a twelve month high of $79.44. The firm has a market cap of $35.15 billion, a P/E ratio of -191.59, a price-to-earnings-growth ratio of 1.87 and a beta of 1.55.

Microchip Technology (NASDAQ:MCHP) last issued its earnings results on Thursday, August 7th. The semiconductor company reported $0.27 earnings per share for the quarter, beating the consensus estimate of $0.24 by $0.03. Microchip Technology had a negative net margin of 3.50% and a positive return on equity of 6.24%. The business had revenue of $1.08 billion for the quarter, compared to analyst estimates of $1.05 billion. During the same period in the previous year, the business earned $0.53 EPS. The firm’s revenue was down 13.3% on a year-over-year basis. Microchip Technology has set its Q2 2026 guidance at 0.340-0.370 EPS. As a group, research analysts expect that Microchip Technology Incorporated will post 1.03 EPS for the current fiscal year.

Microchip Technology Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, September 5th. Shareholders of record on Friday, August 22nd were given a $0.455 dividend. The ex-dividend date was Friday, August 22nd. This represents a $1.82 dividend on an annualized basis and a yield of 2.8%. Microchip Technology’s payout ratio 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.