Cetera Trust Company N.A Takes Position in Microchip Technology Incorporated $MCHP

Cetera Trust Company N.A acquired a new position in shares of Microchip Technology Incorporated (NASDAQ:MCHP) in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 22,394 shares of the semiconductor company’s stock, valued at approximately $2,042,000. Microchip Technology accounts for approximately 1.0% of Cetera Trust Company N.A’s holdings, making the stock its 25th biggest holding.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Partners Capital Investment Group LLP bought a new stake in Microchip Technology during the second quarter valued at $2,168,000. Whalen Wealth Management Inc. acquired a new position in shares of Microchip Technology in the 2nd quarter valued at about $236,000. Algert Global LLC acquired a new position in shares of Microchip Technology in the 2nd quarter valued at about $6,147,000. Cibc World Market Inc. bought a new stake in shares of Microchip Technology during the 2nd quarter valued at about $10,732,000. Finally, OMERS ADMINISTRATION Corp bought a new stake in shares of Microchip Technology during the 2nd quarter valued at about $2,649,000. Institutional investors and hedge funds own 91.51% of the company’s stock.

Microchip Technology Stock Down 2.5%

MCHP stock opened at $74.21 on Tuesday. The stock’s 50 day simple moving average is $83.77 and its 200 day simple moving average is $81.49. The company has a market cap of $40.30 billion, a P/E ratio of 110.76, a price-to-earnings-growth ratio of 0.53 and a beta of 1.76. The company has a debt-to-equity ratio of 0.83, a quick ratio of 1.11 and a current ratio of 1.92. 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 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 during the quarter, compared to analysts’ expectations of $1.46 billion. Microchip Technology had a return on equity of 14.97% and a net margin of 9.34%.The company’s revenue for the quarter was up 38.0% compared to the same quarter last year. During the same quarter last year, the firm posted $0.27 earnings per share. Microchip Technology has set its Q2 2027 guidance at 0.910-0.950 EPS. On average, research analysts expect that Microchip Technology Incorporated will post 3.16 earnings per share for the current fiscal year.

Microchip Technology Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, September 9th. Investors of record on Monday, August 24th will be given a $0.455 dividend. The ex-dividend date of this dividend is Monday, August 24th. This represents a $1.82 annualized dividend and a yield of 2.5%. Microchip Technology’s dividend payout ratio (DPR) is presently 271.64%.

Insider Activity at Microchip Technology

In other Microchip Technology news, Director Matthew W. Chapman sold 3,000 shares of the business’s stock in a transaction on Thursday, May 28th. The shares were sold at an average price of $97.52, for a total transaction of $292,560.00. Following the completion of the sale, the director owned 17,665 shares in the company, valued at approximately $1,722,690.80. The trade was a 14.52% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO James Eric Bjornholt sold 837 shares of the business’s stock in a transaction on Monday, August 17th. The shares were sold at an average price of $80.26, for a total transaction of $67,177.62. Following the sale, the chief financial officer owned 30,960 shares of the company’s stock, valued at $2,484,849.60. This trade represents a 2.63% decrease in their position. The SEC filing for this sale provides additional information. In the last 90 days, insiders sold 8,837 shares of company stock valued at $847,338. 1.79% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

MCHP has been the subject of a number of research analyst reports. TD Cowen lowered their target price on Microchip Technology from $105.00 to $90.00 and set a “hold” rating for the company in a report on Monday, July 13th. BMO Capital Markets started coverage on Microchip Technology in a report on Friday. They set an “outperform” rating and a $95.00 price target on the stock. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $125.00 price objective on shares of Microchip Technology in a research report on Monday, August 17th. UBS Group reiterated a “buy” rating and issued a $120.00 price objective (down from $130.00) on shares of Microchip Technology in a research note on Friday, August 7th. Finally, Citigroup dropped their target price on shares of Microchip Technology from $113.00 to $95.00 and set a “buy” rating on the stock in a research report on Friday, August 7th. Three equities research analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and eight have issued a Hold rating to the company’s stock. According to MarketBeat.com, Microchip Technology presently has an average rating of “Moderate Buy” and a consensus price target of $98.67.

Microchip Technology Company Profile

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.