48,357 Microchip Technology Incorporated $MCHP Shares Purchased by Vest Financial LLC

Key Points

• Vest Financial increased its Microchip Technology position by 61.1% in the third quarter, buying 48,357 additional shares for a total holding valued at approximately $9.92 million. Institutional investors collectively own 91.51% of the company.
• Microchip reported quarterly earnings of $0.76 per share on $1.48 billion in revenue, exceeding analyst estimates, while revenue grew 38% year over year. The company also maintains a quarterly dividend of $0.455 per share, yielding about 2.4% annually.
• Shares recently traded at $74.52, down 3.4%, while analysts hold a “Moderate Buy” consensus rating with an average price target of $97.71. Several firms have recently reduced their price targets, and the CFO sold shares under a pre-arranged trading plan.

Vest Financial LLC lifted its position in Microchip Technology Incorporated (NASDAQ:MCHP - Free Report) by 61.1% in the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 127,562 shares of the semiconductor company's stock after purchasing an additional 48,357 shares during the period. Vest Financial LLC's holdings in Microchip Technology were worth $9,920,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of MCHP. Axxcess Wealth Management LLC purchased a new position in shares of Microchip Technology during the third quarter valued at $206,000. Capstone Capital Management Ltd raised its holdings in shares of Microchip Technology by 487.7% in the third quarter. Capstone Capital Management Ltd now owns 12,929 shares of the semiconductor company's stock valued at $1,005,000 after acquiring an additional 10,729 shares in the last quarter. Robeco Institutional Asset Management B.V. bought a new stake in shares of Microchip Technology in the third quarter valued at about $423,000. Norway Savings Bank lifted its stake in Microchip Technology by 0.7% in the third quarter. Norway Savings Bank now owns 32,040 shares of the semiconductor company's stock worth $2,492,000 after acquiring an additional 223 shares during the period. Finally, CFS Investment Advisory Services LLC lifted its stake in Microchip Technology by 10.9% in the third quarter. CFS Investment Advisory Services LLC now owns 3,343 shares of the semiconductor company's stock worth $272,000 after acquiring an additional 328 shares during the period. Institutional investors own 91.51% of the company's stock.

Microchip Technology Trading Down 3.4%

Shares of NASDAQ:MCHP opened at $74.52 on Friday. The company has a market capitalization of $40.47 billion, a PE ratio of 111.23, a P/E/G ratio of 0.53 and a beta of 1.77. The company has a current ratio of 1.92, a quick ratio of 1.11 and a debt-to-equity ratio of 0.83. Microchip Technology Incorporated has a 12-month low of $48.52 and a 12-month high of $105.91. The business's fifty day simple moving average is $75.19 and its 200-day simple moving average is $82.88.

Microchip Technology (NASDAQ:MCHP - Get Free Report) last issued its quarterly earnings data on Thursday, August 6th. The semiconductor company reported $0.76 earnings per share for the quarter, topping analysts' consensus estimates of $0.70 by $0.06. The firm 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 firm's quarterly revenue was up 38.0% on a year-over-year basis. During the same period in the prior year, the business posted $0.27 EPS. Microchip Technology has set its Q2 2027 guidance at 0.910-0.950 EPS. As a group, equities research analysts predict that Microchip Technology Incorporated will post 3.20 earnings per share for the current fiscal year.

Microchip Technology Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, September 9th. Shareholders of record on Monday, August 24th were issued a $0.4550 dividend. 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 payout ratio is currently 271.64%.

Insider Buying and Selling

In other Microchip Technology news, CFO James Bjornholt sold 4,112 shares of the stock in a transaction dated Tuesday, August 25th. The shares were sold at an average price of $75.32, for a total transaction of $309,715.84. Following the completion of the sale, 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 ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 1.79% of the company's stock.

Wall Street Analyst Weigh In

Several research analysts have issued reports on the stock. Wells Fargo & Company dropped their target price on shares of Microchip Technology from $88.00 to $80.00 and set an "equal weight" rating on the stock in a report on Tuesday. Zacks Research lowered shares of Microchip Technology from a "strong-buy" rating to a "hold" rating in a report on Monday, August 17th. UBS Group restated a "buy" rating and issued a $120.00 price target (down from $130.00) on shares of Microchip Technology in a report on Friday, August 7th. Citigroup lowered their price target on shares of Microchip Technology from $113.00 to $95.00 and set a "buy" rating for the company in a research report on Friday, August 7th. Finally, Cantor Fitzgerald reiterated an "overweight" rating on shares of Microchip Technology in a research note on Wednesday, September 9th. Three analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and eight have given a Hold rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $97.71.

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.

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