1832 Asset Management L.P. Makes New Investment in Microchip Technology Incorporated $MCHP

Key Points

• 1832 Asset Management L.P. has invested approximately $1.77 million in Microchip Technology Incorporated, acquiring 36,468 shares as reported in a recent Form 13F filing.
• Microchip Technology's stock performance has seen a recent target price upgrade from several analysts, with Raymond James Financial raising it from $65.00 to $75.00 and UBS Group increasing their target to $85.00.
• The company announced a quarterly dividend of $0.455, set to be paid on September 5th, representing an annual dividend yield of 2.7%.

1832 Asset Management L.P. acquired a new stake in Microchip Technology Incorporated (NASDAQ:MCHP - Free Report) during the first quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 36,468 shares of the semiconductor company's stock, valued at approximately $1,765,000.

A number of other institutional investors also recently modified their holdings of the company. Norinchukin Bank The boosted its stake in shares of Microchip Technology by 44.4% in the 1st quarter. Norinchukin Bank The now owns 41,034 shares of the semiconductor company's stock valued at $1,986,000 after purchasing an additional 12,614 shares during the last quarter. Channing Capital Management LLC boosted its stake in Microchip Technology by 2.6% during the first quarter. Channing Capital Management LLC now owns 142,919 shares of the semiconductor company's stock worth $6,919,000 after acquiring an additional 3,578 shares in the last quarter. CW Advisors LLC boosted its stake in Microchip Technology by 3.3% during the first quarter. CW Advisors LLC now owns 16,472 shares of the semiconductor company's stock worth $798,000 after acquiring an additional 520 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its stake in Microchip Technology by 11.7% during the first quarter. Price T Rowe Associates Inc. MD now owns 2,824,213 shares of the semiconductor company's stock worth $136,721,000 after acquiring an additional 296,379 shares in the last quarter. Finally, Dorsey & Whitney Trust CO LLC boosted its stake in Microchip Technology by 30.0% during the first quarter. Dorsey & Whitney Trust CO LLC now owns 4,980 shares of the semiconductor company's stock worth $241,000 after acquiring an additional 1,149 shares in the last quarter. 91.51% of the stock is owned by institutional investors.

Microchip Technology Stock Down 2.1%

Shares of MCHP stock traded down $1.40 on Thursday, hitting $65.25. The stock had a trading volume of 13,996,951 shares, compared to its average volume of 9,616,931. The business has a 50 day moving average of $69.50 and a 200 day moving average of $59.17. The stock has a market cap of $35.21 billion, a price-to-earnings ratio of -191.91, a price-to-earnings-growth ratio of 1.93 and a beta of 1.55. The company has a debt-to-equity ratio of 0.80, a current ratio of 2.31 and a quick ratio of 1.33. Microchip Technology Incorporated has a 12-month low of $34.13 and a 12-month high of $82.65.

Microchip Technology (NASDAQ:MCHP - Get Free Report) last announced its earnings results on Thursday, August 7th. The semiconductor company reported $0.27 EPS for the quarter, beating the consensus estimate of $0.24 by $0.03. The company had revenue of $1.08 billion during the quarter, compared to the consensus estimate of $1.05 billion. Microchip Technology had a negative net margin of 3.50% and a positive return on equity of 6.24%. The firm's revenue for the quarter was down 13.3% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.53 earnings per share. Microchip Technology has set its Q2 2026 guidance at 0.340-0.370 EPS. As a group, analysts expect that Microchip Technology Incorporated will post 1.03 EPS for the current year.

Microchip Technology Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 5th. Investors of record on Friday, August 22nd will be issued a dividend of $0.455 per share. This represents a $1.82 dividend on an annualized basis and a yield of 2.8%. The ex-dividend date is Friday, August 22nd. Microchip Technology's dividend payout ratio (DPR) is -535.29%.

Wall Street Analysts Forecast Growth

MCHP has been the topic of several research analyst reports. Cantor Fitzgerald initiated coverage on shares of Microchip Technology in a research note on Wednesday, June 18th. They set a "neutral" rating and a $70.00 target price on the stock. Raymond James Financial increased their target price on shares of Microchip Technology from $65.00 to $75.00 and gave the stock a "strong-buy" rating in a research note on Friday, August 8th. Susquehanna upped their price objective on shares of Microchip Technology from $60.00 to $90.00 and gave the stock a "positive" rating in a report on Tuesday, July 22nd. Zacks Research downgraded shares of Microchip Technology from a "strong-buy" rating to a "hold" rating in a report on Monday, August 18th. Finally, Wall Street Zen upgraded shares of Microchip Technology from a "sell" rating to a "hold" rating in a report on Friday, June 27th. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and six have issued a Hold rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $76.58.

Insider Transactions at Microchip Technology

In related news, Director Matthew W. Chapman sold 10,000 shares of the firm's stock in a transaction dated Monday, August 25th. The shares were sold at an average price of $68.25, for a total transaction of $682,500.00. Following the completion of the sale, the director owned 30,665 shares in the company, valued at approximately $2,092,886.25. This trade represents a 24.59% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CFO James Eric Bjornholt sold 7,356 shares of the firm's stock in a transaction dated Monday, August 25th. The stock was sold at an average price of $68.72, for a total transaction of $505,504.32. Following the sale, the chief financial officer owned 30,010 shares of the company's stock, valued at $2,062,287.20. This trade represents a 19.69% decrease in their position. The disclosure for this sale can be found here. Company insiders own 1.94% of the company's stock.

About Microchip Technology

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.