Elevation Point Wealth Partners LLC Grows Position in Microchip Technology Incorporated $MCHP

Elevation Point Wealth Partners LLC lifted its holdings in shares of Microchip Technology Incorporated (NASDAQ:MCHP) by 73.7% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 12,000 shares of the semiconductor company’s stock after acquiring an additional 5,091 shares during the period. Elevation Point Wealth Partners LLC’s holdings in Microchip Technology were worth $844,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of MCHP. Vanguard Group Inc. increased its holdings in shares of Microchip Technology by 1.8% in the second quarter. Vanguard Group Inc. now owns 70,568,004 shares of the semiconductor company’s stock valued at $4,965,870,000 after purchasing an additional 1,265,390 shares during the period. Invesco Ltd. lifted its holdings in shares of Microchip Technology by 63.0% during the first quarter. Invesco Ltd. now owns 16,707,031 shares of the semiconductor company’s stock worth $808,787,000 after purchasing an additional 6,459,123 shares during the period. T. Rowe Price Investment Management Inc. grew its position in Microchip Technology by 0.9% in the 1st quarter. T. Rowe Price Investment Management Inc. now owns 16,630,574 shares of the semiconductor company’s stock valued at $805,087,000 after buying an additional 152,434 shares during the last quarter. Geode Capital Management LLC increased its stake in Microchip Technology by 2.4% in the 2nd quarter. Geode Capital Management LLC now owns 14,842,341 shares of the semiconductor company’s stock valued at $1,040,544,000 after buying an additional 343,210 shares during the period. Finally, Boston Partners raised its position in Microchip Technology by 38.2% during the 2nd quarter. Boston Partners now owns 14,827,447 shares of the semiconductor company’s stock worth $1,041,868,000 after buying an additional 4,101,034 shares during the last quarter. Hedge funds and other institutional investors own 91.51% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on MCHP. Morgan Stanley increased their target price on Microchip Technology from $63.00 to $68.00 and gave the stock an “equal weight” rating in a research note on Tuesday, November 4th. Citigroup reduced their target price on Microchip Technology from $90.00 to $80.00 and set a “buy” rating for the company in a report on Friday, November 7th. Weiss Ratings restated a “sell (d+)” rating on shares of Microchip Technology in a research report on Wednesday, October 8th. Raymond James Financial upped their price target on shares of Microchip Technology from $65.00 to $75.00 and gave the stock a “strong-buy” rating in a research note on Friday, August 8th. Finally, Needham & Company LLC dropped their price objective on Microchip Technology from $77.00 to $73.00 and set a “buy” rating for the company in a research note on Friday, November 7th. One research analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating, seven have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $73.47.

Insider Activity at Microchip Technology

In other news, CFO James Eric Bjornholt sold 4,292 shares of the firm’s stock in a transaction dated Tuesday, November 25th. The stock was sold at an average price of $50.39, for a total value of $216,273.88. Following the transaction, the chief financial officer directly owned 30,089 shares in the company, valued at $1,516,184.71. This trade represents a 12.48% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 1.94% of the stock is currently owned by company insiders.

Microchip Technology Price Performance

NASDAQ:MCHP opened at $52.57 on Friday. Microchip Technology Incorporated has a 12-month low of $34.13 and a 12-month high of $77.20. The firm has a market cap of $28.41 billion, a price-to-earnings ratio of -154.62, a price-to-earnings-growth ratio of 1.79 and a beta of 1.57. The company’s 50-day moving average is $60.83 and its two-hundred day moving average is $64.63. The company has a current ratio of 2.31, a quick ratio of 1.33 and a debt-to-equity ratio of 0.80.

Microchip Technology (NASDAQ:MCHP) last posted its quarterly earnings results on Thursday, November 6th. The semiconductor company reported $0.35 EPS for the quarter, beating the consensus estimate of $0.33 by $0.02. Microchip Technology had a positive return on equity of 6.24% and a negative net margin of 3.50%.The company had revenue of $1.14 billion during the quarter, compared to analysts’ expectations of $1.13 billion. During the same quarter in the previous year, the business earned $0.46 EPS. The firm’s revenue was down 2.0% on a year-over-year basis. Microchip Technology has set its Q3 2026 guidance at 0.340-0.400 EPS. Research analysts expect that Microchip Technology Incorporated will post 1.03 EPS for the current year.

Microchip Technology Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 9th. Shareholders of record on Monday, November 24th will be paid a dividend of $0.455 per share. The ex-dividend date is Monday, November 24th. This represents a $1.82 annualized dividend and a yield of 3.5%. Microchip Technology’s dividend payout ratio is currently -404.44%.

About Microchip Technology

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.