Microchip Technology Incorporated $MCHP Stock Sold by Atticus Wealth Management LLC

Atticus Wealth Management LLC lowered its holdings in Microchip Technology Incorporated (NASDAQ:MCHP) by 85.2% during the third quarter, Holdings Channel.com reports. The firm owned 3,126 shares of the semiconductor company’s stock after selling 17,973 shares during the period. Atticus Wealth Management LLC’s holdings in Microchip Technology were worth $243,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of the business. Resonant Capital Advisors LLC increased its position in shares of Microchip Technology by 0.9% during the 1st quarter. Resonant Capital Advisors LLC now owns 12,542 shares of the semiconductor company’s stock worth $810,000 after purchasing an additional 118 shares during the last quarter. Apella Capital LLC raised its holdings in Microchip Technology by 4.8% in the 2nd quarter. Apella Capital LLC now owns 2,669 shares of the semiconductor company’s stock valued at $225,000 after buying an additional 122 shares during the period. Bridgewater Advisors Inc. lifted its position in Microchip Technology by 4.2% in the second quarter. Bridgewater Advisors Inc. now owns 3,331 shares of the semiconductor company’s stock valued at $304,000 after buying an additional 133 shares during the last quarter. Total Wealth Planning & Management Inc. lifted its position in Microchip Technology by 3.5% in the second quarter. Total Wealth Planning & Management Inc. now owns 4,225 shares of the semiconductor company’s stock valued at $385,000 after buying an additional 141 shares during the last quarter. Finally, Texas Capital Bank Wealth Management Services Inc boosted its stake in Microchip Technology by 2.0% during the second quarter. Texas Capital Bank Wealth Management Services Inc now owns 7,513 shares of the semiconductor company’s stock worth $685,000 after buying an additional 144 shares during the period. Institutional investors and hedge funds own 91.51% of the company’s stock.

Insider Transactions at Microchip Technology

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

Microchip Technology Stock Performance

NASDAQ MCHP opened at $75.85 on Wednesday. The company has a market cap of $41.19 billion, a P/E ratio of 113.21, a P/E/G ratio of 0.51 and a beta of 1.77. 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 stock has a 50-day moving average of $75.30 and a two-hundred day moving average of $82.74. Microchip Technology Incorporated has a 1-year low of $48.52 and a 1-year high of $105.91.

Microchip Technology (NASDAQ:MCHP) last issued its quarterly earnings results on Thursday, August 6th. The semiconductor company reported $0.76 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.70 by $0.06. Microchip Technology had a net margin of 9.34% and a return on equity of 14.97%. The business had revenue of $1.48 billion for the quarter, compared to analysts’ expectations of $1.46 billion. During the same quarter in the prior year, the company earned $0.27 earnings per share. The business’s quarterly revenue was up 38.0% on a year-over-year basis. Microchip Technology has set its Q2 2027 guidance at 0.910-0.950 EPS. As a group, analysts anticipate that Microchip Technology Incorporated will post 3.20 EPS for the current year.

Microchip Technology Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, September 9th. Shareholders of record on Monday, August 24th were issued a dividend of $0.4550 per share. The ex-dividend date was Monday, August 24th. This represents a $1.82 dividend on an annualized basis and a yield of 2.4%. Microchip Technology’s dividend payout ratio is 271.64%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on the stock. TD Cowen dropped their price target on shares of Microchip Technology from $90.00 to $75.00 and set a “hold” rating for the company in a research report on Monday. Citigroup decreased their price objective on shares of Microchip Technology from $113.00 to $95.00 and set a “buy” rating on the stock in a report on Friday, August 7th. Rosenblatt Securities reaffirmed a “buy” rating and set a $120.00 price objective on shares of Microchip Technology in a research report on Friday, August 7th. Truist Financial lowered 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 report on Friday, August 7th. Finally, BMO Capital Markets started coverage on shares of Microchip Technology in a report on Friday, August 21st. They issued an “outperform” rating and a $95.00 target price for the company. Three 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. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $97.57.

Microchip Technology Company 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.