1,145,500 Microchip Technology Incorporated $MCHP Shares Bought by Pictet Asset Management Holding SA

Key Points

• Pictet Asset Management increased its Microchip Technology stake by 30.7%, buying 1,145,500 shares in the third quarter. It held 4.88 million shares, valued at about $379.7 million.
• Microchip’s latest quarterly results beat estimates: EPS was $0.97 versus $0.94 expected, and revenue of $1.62 billion rose 42.2% year over year.
• Near-term outlook and analyst revisions remain concerns: the company’s forecast midpoint came in below consensus, and several analysts cut price targets. The shares were reported down 10% and opened at $58.35.

Pictet Asset Management Holding SA raised its position in Microchip Technology Incorporated (NASDAQ:MCHP - Free Report) by 30.7% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 4,881,363 shares of the semiconductor company's stock after purchasing an additional 1,145,500 shares during the quarter. Pictet Asset Management Holding SA owned 0.90% of Microchip Technology worth $379,661,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently modified their holdings of MCHP. Apella Capital LLC grew its holdings in shares of Microchip Technology by 4.8% during the second quarter. Apella Capital LLC now owns 2,669 shares of the semiconductor company's stock worth $225,000 after buying an additional 122 shares in the last quarter. Bridgewater Advisors Inc. raised its stake in shares of Microchip Technology by 4.2% during the 2nd quarter. Bridgewater Advisors Inc. now owns 3,331 shares of the semiconductor company's stock worth $304,000 after purchasing an additional 133 shares in the last quarter. Total Wealth Planning & Management Inc. raised its position in Microchip Technology by 3.5% during the second quarter. Total Wealth Planning & Management Inc. now owns 4,225 shares of the semiconductor company's stock worth $385,000 after acquiring an additional 141 shares in the last quarter. Texas Capital Bank Wealth Management Services Inc raised its holdings in shares of Microchip Technology by 2.0% in the 2nd quarter. Texas Capital Bank Wealth Management Services Inc now owns 7,513 shares of the semiconductor company's stock valued at $685,000 after purchasing an additional 144 shares during the period. Finally, Greenleaf Trust lifted its position in shares of Microchip Technology by 0.6% in the second quarter. Greenleaf Trust now owns 24,163 shares of the semiconductor company's stock valued at $2,204,000 after buying an additional 151 shares during the last quarter. 91.51% of the stock is owned by institutional investors and hedge funds.

Microchip Technology Trading Down 10.0%

NASDAQ:MCHP opened at $58.35 on Friday. 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 firm's fifty day moving average is $74.85 and its 200-day moving average is $79.41. Microchip Technology Incorporated has a 52 week low of $48.52 and a 52 week high of $105.91. The firm has a market cap of $31.68 billion, a P/E ratio of 44.20, a P/E/G ratio of 0.40 and a beta of 1.84.

Microchip Technology (NASDAQ:MCHP - Get Free Report) last posted its quarterly earnings data on Thursday, November 5th. The semiconductor company reported $0.97 earnings per share for the quarter, topping the consensus estimate of $0.94 by $0.03. The firm had revenue of $1.62 billion during the quarter, compared to analyst estimates of $1.61 billion. Microchip Technology had a return on equity of 20.45% and a net margin of 14.96%. The business's quarterly revenue was up 42.2% on a year-over-year basis. During the same period last year, the company posted $0.35 EPS. Equities analysts expect 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 will be paid on Tuesday, December 8th. Shareholders of record on Monday, November 23rd will be paid a $0.4550 dividend. This represents a $1.82 annualized dividend and a yield of 3.1%. The ex-dividend date of this dividend is Monday, November 23rd. Microchip Technology's payout ratio is 271.64%.

Insider Buying and Selling

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 transaction of $309,715.84. Following the transaction, the chief financial officer directly owned 28,573 shares of the company's stock, valued at approximately $2,152,118.36. This represents a 12.58% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 1.79% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on MCHP shares. Zacks Research lowered shares of Microchip Technology from a "strong-buy" rating to a "hold" rating in a research note on Monday, August 17th. Wall Street Zen cut shares of Microchip Technology from a "buy" rating to a "hold" rating in a research report on Saturday. B. Riley Financial lowered their price target on Microchip Technology from $98.00 to $85.00 and set a "buy" rating for the company in a report on Friday. Citigroup dropped their price objective on shares of Microchip Technology from $95.00 to $75.00 and set a "buy" rating for the company in a research note on Friday. Finally, Jefferies Financial Group cut their target price on shares of Microchip Technology from $100.00 to $85.00 and set a "buy" rating on the stock in a research report on Friday. Three equities research analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and seven have issued a Hold rating to the company. According to data from MarketBeat, Microchip Technology currently has a consensus rating of "Moderate Buy" and a consensus price target of $91.64.

More Microchip Technology News

Here are the key news stories impacting Microchip Technology this week:

• Positive Sentiment: Fiscal Q2 EPS was $0.97 versus the $0.94 consensus, while revenue of $1.62 billion topped estimates and rose 42.2% year over year. Reports cited recovering industrial and data-center demand and improving margins as growth drivers. Zacks earnings report
• Positive Sentiment: Microchip declared a quarterly dividend of $0.455 per share, equivalent to $1.82 annually and a reported yield of about 3.2%. The dividend may appeal to income-focused investors.
• Neutral Sentiment: Several analysts still rate MCHP Buy or Overweight, and their revised targets remain above the cited $58.35 share price. However, the target reductions signal more cautious expectations.
• Negative Sentiment: Management’s fiscal Q3 outlook is a key concern: revenue is forecast to range from 3% below to 1% above Q2, with non-GAAP EPS of $0.87–$0.95. The midpoint was reported below consensus; supply constraints and rising costs could limit near-term growth. Benzinga analyst coverage
• Negative Sentiment: Analysts cut targets after the results, including Truist to $62 from $90 and Evercore ISI to $75 from $117. Citigroup lowered its target to $75 from $95 but kept a Buy rating; the broader reset in expectations may pressure shares despite generally higher remaining targets. Truist analyst recommendations Evercore ISI target update

Microchip Technology Profile

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