Microchip Technology Incorporated $MCHP Shares Purchased by Hennion & Walsh Asset Management Inc.

Hennion & Walsh Asset Management Inc. grew its stake in shares of Microchip Technology Incorporated (NASDAQ:MCHP) by 73.1% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 30,734 shares of the semiconductor company’s stock after buying an additional 12,979 shares during the quarter. Hennion & Walsh Asset Management Inc.’s holdings in Microchip Technology were worth $2,803,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently made changes to their positions in MCHP. AQR Capital Management LLC raised its stake in shares of Microchip Technology by 51.3% in the 1st quarter. AQR Capital Management LLC now owns 17,201 shares of the semiconductor company’s stock worth $827,000 after buying an additional 5,835 shares in the last quarter. Geneos Wealth Management Inc. boosted its stake in Microchip Technology by 101.8% during the first 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 second quarter. Cresset Asset Management LLC now owns 11,433 shares of the semiconductor company’s stock worth $805,000 after acquiring an additional 589 shares during the period. AXA S.A. grew its holdings in Microchip Technology by 21.3% during the second quarter. AXA S.A. now owns 51,552 shares of the semiconductor company’s stock worth $3,628,000 after acquiring an additional 9,043 shares during the period. Finally, Treasurer of the State of North Carolina raised its position in Microchip Technology by 1.6% in 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 acquiring an additional 3,851 shares in the last quarter. 91.51% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

MCHP has been the subject of several research reports. Cantor Fitzgerald restated an “overweight” rating and set a $125.00 price objective on shares of Microchip Technology in a research report on Monday, August 3rd. Wall Street Zen raised shares of Microchip Technology from a “hold” rating to a “buy” rating in a research note on Saturday, May 9th. Wells Fargo & Company reduced their target price 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. Barclays lifted their price target on shares of Microchip Technology from $80.00 to $105.00 and gave the stock an “equal weight” rating in a research report on Monday, May 11th. Finally, UBS Group reaffirmed a “buy” rating and issued a $120.00 price target (down from $130.00) on shares of Microchip Technology in a report on Friday. Three analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and seven have issued a Hold rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $98.85.

Insider Transactions at Microchip Technology

In related news, Director Matthew W. Chapman sold 10,000 shares of the stock in a transaction on Friday, May 15th. The stock was sold at an average price of $95.48, for a total transaction of $954,800.00. Following the completion of the sale, the director directly owned 20,665 shares in the company, valued at approximately $1,973,094.20. This trade represents a 32.61% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Richard J. Simoncic sold 5,000 shares of the stock in a transaction on Friday, May 22nd. The stock was sold at an average price of $93.44, for a total value of $467,200.00. Following the sale, the chief operating officer owned 135,508 shares of the company’s stock, valued at approximately $12,661,867.52. This represents a 3.56% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders have sold 26,750 shares of company stock valued at $2,543,170. 1.79% of the stock is owned by insiders.

Microchip Technology Price Performance

NASDAQ MCHP opened at $81.39 on Tuesday. The company has a debt-to-equity ratio of 0.83, a current ratio of 1.92 and a quick ratio of 1.11. The firm has a market capitalization of $44.20 billion, a price-to-earnings ratio of 121.48, a price-to-earnings-growth ratio of 0.85 and a beta of 1.76. The company has a 50 day simple moving average of $86.94 and a 200-day simple moving average of $81.41. Microchip Technology Incorporated has a 52-week low of $48.52 and a 52-week high of $105.91.

Microchip Technology (NASDAQ:MCHP) last announced its quarterly earnings data on Thursday, August 6th. The semiconductor company reported $0.76 EPS for the quarter, beating analysts’ consensus estimates of $0.70 by $0.06. The firm had revenue of $1.48 billion for the quarter, compared to the consensus estimate of $1.46 billion. Microchip Technology had a net margin of 9.34% and a return on equity of 14.97%. The firm’s revenue was up 38.0% on a year-over-year basis. During the same period in the previous year, the firm posted $0.27 earnings per share. Microchip Technology has set its Q2 2027 guidance at 0.910-0.950 EPS. Equities research analysts predict that Microchip Technology Incorporated will post 2.7 earnings per share for the current fiscal year.

Microchip Technology Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, September 9th. Stockholders of record on Monday, August 24th will be issued a dividend of $0.455 per share. This represents a $1.82 annualized dividend and a dividend yield of 2.2%. The ex-dividend date is Monday, August 24th. Microchip Technology’s payout ratio is currently 271.64%.

About Microchip Technology

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.