Artemis Wealth Advisors LLC Invests $541.41 Million in Microchip Technology Incorporated $MCHP

Key Points

• Artemis Wealth Advisors acquired 735,215 Microchip Technology shares worth approximately $541.4 million, making MCHP its largest holding at 61.7% of the portfolio. Institutional investors collectively own 91.51% of the company.
• Analysts maintain a generally positive outlook, with a consensus rating of “Moderate Buy” and an average price target of $98.85, despite some recent target-price reductions.
• Microchip reported quarterly EPS of $0.76 and revenue of $1.48 billion, exceeding estimates, while revenue rose 38% year over year. The company also declared a quarterly dividend of $0.455 per share, representing a 2.3% annualized yield.

Artemis Wealth Advisors LLC bought a new position in Microchip Technology Incorporated (NASDAQ:MCHP - Free Report) during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 735,215 shares of the semiconductor company's stock, valued at approximately $541,413,000. Microchip Technology makes up 61.7% of Artemis Wealth Advisors LLC's holdings, making the stock its largest position. Artemis Wealth Advisors LLC owned 0.14% of Microchip Technology at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Resonant Capital Advisors LLC lifted its holdings in shares of Microchip Technology by 0.9% in the 1st quarter. Resonant Capital Advisors LLC now owns 12,542 shares of the semiconductor company's stock valued at $810,000 after acquiring an additional 118 shares during the last quarter. Apella Capital LLC increased its stake in 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 acquiring an additional 122 shares during the last quarter. Bridgewater Advisors Inc. raised its position in Microchip Technology by 4.2% during the second quarter. Bridgewater Advisors Inc. now owns 3,331 shares of the semiconductor company's stock valued at $304,000 after purchasing an additional 133 shares during the period. MCF Advisors LLC raised its position in Microchip Technology by 25.8% during the fourth quarter. MCF Advisors LLC now owns 659 shares of the semiconductor company's stock valued at $42,000 after purchasing an additional 135 shares during the period. Finally, Gagnon Securities LLC lifted its stake in shares of Microchip Technology by 0.5% in the 4th quarter. Gagnon Securities LLC now owns 27,162 shares of the semiconductor company's stock valued at $1,731,000 after purchasing an additional 137 shares during the last quarter. 91.51% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of equities analysts have recently commented on the company. Truist Financial dropped their target price on Microchip Technology from $105.00 to $90.00 and set a "hold" rating for the company in a report on Friday, August 7th. Rosenblatt Securities restated a "buy" rating and issued a $120.00 price target on shares of Microchip Technology in a research report on Friday, August 7th. UBS Group reaffirmed a "buy" rating and set a $120.00 price objective (down from $130.00) on shares of Microchip Technology in a research note on Friday, August 7th. Wall Street Zen upgraded shares of Microchip Technology from a "hold" rating to a "buy" rating in a research report on Saturday, May 9th. Finally, Zacks Research upgraded shares of Microchip Technology from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, May 12th. Three research analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating and seven have issued a Hold rating to the company's stock. According to data from MarketBeat, Microchip Technology currently has a consensus rating of "Moderate Buy" and an average target price of $98.85.

Insider Transactions at Microchip Technology

In other news, CFO James Eric Bjornholt sold 3,667 shares of the company's stock in a transaction that occurred on Friday, May 22nd. The shares were sold at an average price of $90.87, for a total value of $333,220.29. Following the completion of the sale, the chief financial officer owned 28,573 shares of the company's stock, valued at approximately $2,596,428.51. This represents a 11.37% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, COO Richard J. Simoncic sold 5,000 shares of the business's stock in a transaction that occurred on Thursday, June 4th. The stock was sold at an average price of $97.52, for a total transaction of $487,600.00. Following the completion of the transaction, the chief operating officer directly owned 130,508 shares of the company's stock, valued at $12,727,140.16. This trade represents a 3.69% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders sold 16,667 shares of company stock valued at $1,580,580. Company insiders own 1.79% of the company's stock.

Microchip Technology Stock Down 2.6%

NASDAQ:MCHP opened at $78.19 on Wednesday. The company has a market cap of $42.46 billion, a price-to-earnings ratio of 116.70, a price-to-earnings-growth ratio of 0.62 and a beta of 1.76. Microchip Technology Incorporated has a twelve month low of $48.52 and a twelve month high of $105.91. The company has a current ratio of 1.92, a quick ratio of 1.11 and a debt-to-equity ratio of 0.83. The stock has a fifty day simple moving average of $85.23 and a 200-day simple moving average of $81.54.

Microchip Technology (NASDAQ:MCHP - Get Free Report) last announced its quarterly earnings data on Thursday, August 6th. The semiconductor company reported $0.76 earnings per share for the quarter, beating analysts' consensus estimates of $0.70 by $0.06. Microchip Technology had a net margin of 9.34% and a return on equity of 14.97%. The company had revenue of $1.48 billion during the quarter, compared to analyst estimates of $1.46 billion. During the same quarter last year, the business posted $0.27 EPS. The firm's revenue for the quarter was up 38.0% on a year-over-year basis. Microchip Technology has set its Q2 2027 guidance at 0.910-0.950 EPS. Analysts anticipate that Microchip Technology Incorporated will post 3.16 EPS for the current year.

Microchip Technology Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, September 9th. Stockholders of record on Monday, August 24th will be issued a $0.455 dividend. The ex-dividend date is Monday, August 24th. This represents a $1.82 annualized dividend and a dividend yield of 2.3%. Microchip Technology's payout ratio is currently 271.64%.

About Microchip Technology

Microchip Technology Inc is a semiconductor company headquartered in Chandler, Arizona, that designs, develops and supplies a broad portfolio of embedded control and analog semiconductors. Its product lineup centers on microcontrollers (including the well-known PIC family), digital signal controllers and associated development tools and software, along with a range of mixed-signal and analog devices, nonvolatile memory, power management, timing, interface, wireless and security products. The company also provides integrated hardware and software solutions intended to simplify embedded design and accelerate time to market for OEMs and contract manufacturers.

Microchip's products are used across a wide range of end markets, including automotive, industrial automation, consumer electronics, communications, aerospace and defense, and Internet of Things (IoT) applications.

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