6,969 Microchip Technology Incorporated $MCHP Shares Sold by Park Avenue Securities LLC

Park Avenue Securities LLC cut its position in shares of Microchip Technology Incorporated (NASDAQ:MCHP) by 31.1% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 15,473 shares of the semiconductor company’s stock after selling 6,969 shares during the period. Park Avenue Securities LLC’s holdings in Microchip Technology were worth $1,203,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of the business. Barrow Hanley Mewhinney & Strauss LLC purchased a new position in shares of Microchip Technology during the 2nd quarter worth approximately $537,423,000. Legal & General Group Plc acquired a new position in shares of Microchip Technology during the second quarter worth $312,597,000. Van ECK Associates Corp boosted its position in shares of Microchip Technology by 18.3% during the 2nd quarter. Van ECK Associates Corp now owns 8,224,808 shares of the semiconductor company’s stock worth $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 holdings in Microchip Technology by 23.5% in the second 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 grew 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 valued at $168,058,000 after buying an additional 898,503 shares during the last quarter. 91.51% of the stock is currently owned by hedge funds and other institutional investors.

Microchip Technology Stock Performance

Shares of MCHP opened at $76.11 on Tuesday. The company has a debt-to-equity ratio of 0.83, a quick ratio of 1.11 and a current ratio of 1.92. The stock has a market capitalization of $41.33 billion, a P/E ratio of 113.60, a P/E/G ratio of 0.55 and a beta of 1.77. The company’s fifty day moving average is $75.26 and its two-hundred day moving average is $79.51. Microchip Technology Incorporated has a 1 year low of $48.52 and a 1 year high of $105.91.

Microchip Technology (NASDAQ:MCHP) last posted its quarterly earnings results on Thursday, August 6th. The semiconductor company reported $0.76 EPS for the quarter, beating the consensus estimate of $0.70 by $0.06. The business 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 quarterly revenue was up 38.0% compared to the same quarter last year. During the same period last year, the firm earned $0.27 EPS. Microchip Technology has set its Q2 2027 guidance at 0.910-0.950 EPS. On average, sell-side analysts predict that Microchip Technology Incorporated will post 3.20 earnings per share for the current year.

Microchip Technology Dividend Announcement

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

Insider Activity

In related news, CFO James Bjornholt sold 4,112 shares of the company’s stock in a transaction that occurred on Tuesday, August 25th. The stock was sold at an average price of $75.32, for a total value of $309,715.84. Following the sale, the chief financial officer owned 28,573 shares in the company, valued at $2,152,118.36. This represents a 12.58% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 1.79% of the company’s stock.

Analysts Set New Price Targets

MCHP has been the subject of several research analyst reports. Truist Financial decreased their price objective on shares of Microchip Technology from $105.00 to $90.00 and set a “hold” rating for the company in a research note on Friday, August 7th. B. Riley Financial cut their target price on Microchip Technology from $108.00 to $98.00 and set a “buy” rating on the stock in a research report on Thursday, October 22nd. TD Cowen reduced their target price on Microchip Technology from $90.00 to $75.00 and set a “hold” rating for the company in a report on Monday, October 19th. UBS Group reissued a “buy” rating and issued a $120.00 target price (down from $130.00) on shares of Microchip Technology in a research report on Friday, August 7th. Finally, BMO Capital Markets assumed coverage on Microchip Technology in a research report on Friday, August 21st. They issued an “outperform” rating and a $95.00 target price for the company. 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. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target 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.