Ethic Inc. Raises Position in Microchip Technology Incorporated $MCHP

Ethic Inc. increased its stake in shares of Microchip Technology Incorporated (NASDAQ:MCHP) by 63.3% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 91,040 shares of the semiconductor company’s stock after purchasing an additional 35,284 shares during the period. Ethic Inc.’s holdings in Microchip Technology were worth $6,417,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently made changes to their positions in MCHP. MCF Advisors LLC raised its holdings in shares of Microchip Technology by 211.2% during the second quarter. MCF Advisors LLC now owns 473 shares of the semiconductor company’s stock valued at $33,000 after purchasing an additional 321 shares during the last quarter. Carderock Capital Management Inc. purchased a new position in shares of Microchip Technology during the second quarter valued at approximately $39,000. WPG Advisers LLC purchased a new position in shares of Microchip Technology during the first quarter valued at approximately $40,000. Painted Porch Advisors LLC purchased a new position in shares of Microchip Technology during the second quarter valued at approximately $40,000. Finally, GW&K Investment Management LLC raised its holdings in shares of Microchip Technology by 161.0% during the first quarter. GW&K Investment Management LLC now owns 937 shares of the semiconductor company’s stock valued at $45,000 after purchasing an additional 578 shares during the last quarter. 91.51% of the stock is owned by hedge funds and other institutional investors.

Microchip Technology Stock Down 4.5%

Shares of MCHP stock opened at $64.50 on Thursday. The stock has a market cap of $34.81 billion, a P/E ratio of -189.71, a P/E/G ratio of 1.93 and a beta of 1.55. Microchip Technology Incorporated has a 12 month low of $34.13 and a 12 month high of $79.44. The company has a 50 day simple moving average of $65.35 and a two-hundred day simple moving average of $62.03. 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, August 7th. The semiconductor company reported $0.27 earnings per share for the quarter, topping analysts’ consensus estimates of $0.24 by $0.03. The business had revenue of $1.08 billion during the quarter, compared to analyst estimates of $1.05 billion. Microchip Technology had a negative net margin of 3.50% and a positive return on equity of 6.24%. The company’s revenue was down 13.3% on a year-over-year basis. During the same period in the prior year, the business posted $0.53 earnings per share. Microchip Technology has set its Q2 2026 guidance at 0.340-0.370 EPS. On average, research analysts expect that Microchip Technology Incorporated will post 1.03 earnings per share for the current year.

Microchip Technology Announces Dividend

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. This represents a $1.82 dividend on an annualized basis and a dividend yield of 2.8%. The ex-dividend date was Friday, August 22nd. Microchip Technology’s dividend payout ratio is presently -535.29%.

Insider Buying and Selling

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

Analyst Upgrades and Downgrades

MCHP has been the subject of several research reports. The Goldman Sachs Group initiated coverage on shares of Microchip Technology in a report on Thursday, July 10th. They set a “buy” rating and a $88.00 price objective for the company. Needham & Company LLC boosted their price objective on shares of Microchip Technology from $66.00 to $77.00 and gave the company a “buy” rating in a report on Friday, August 8th. KeyCorp upped their target price on shares of Microchip Technology from $70.00 to $85.00 and gave the company an “overweight” rating in a report on Tuesday, July 8th. Raymond James Financial upped their target price on shares of Microchip Technology from $65.00 to $75.00 and gave the company a “strong-buy” rating in a report on Friday, August 8th. Finally, Susquehanna upped their target price on shares of Microchip Technology from $60.00 to $90.00 and gave the company a “positive” rating in a report on Tuesday, July 22nd. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, seven have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $75.75.

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.