B. Metzler seel. Sohn & Co. AG cut its stake in shares of Microchip Technology Incorporated (NASDAQ:MCHP - Free Report) by 9.8% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 211,137 shares of the semiconductor company's stock after selling 23,009 shares during the quarter. B. Metzler seel. Sohn & Co. AG's holdings in Microchip Technology were worth $19,255,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also recently bought and sold shares of MCHP. EFG International AG acquired a new stake in shares of Microchip Technology in the 4th quarter worth $29,000. Miller Capital Partners Inc. acquired a new stake in Microchip Technology in the fourth quarter valued at about $29,000. Continuum Advisory LLC acquired a new stake in Microchip Technology in the second quarter valued at about $30,000. Johnson Financial Group Inc. purchased a new stake in Microchip Technology in the 2nd quarter valued at approximately $31,000. Finally, Reflection Asset Management purchased a new stake in Microchip Technology in the 4th quarter valued at approximately $33,000. 91.51% of the stock is currently owned by hedge funds and other institutional investors.
Microchip Technology Stock Performance
NASDAQ MCHP opened at $72.76 on Thursday. The business has a 50 day moving average price of $80.49 and a 200 day moving average price of $81.29. The company has a market capitalization of $39.51 billion, a P/E ratio of 108.60, a PEG ratio of 0.50 and a beta of 1.75. Microchip Technology Incorporated has a 1-year low of $48.52 and a 1-year high of $105.91. The company has a debt-to-equity ratio of 0.83, a current ratio of 1.92 and a quick ratio of 1.11.
Microchip Technology (NASDAQ:MCHP - Get Free Report) last posted its earnings results on Thursday, August 6th. The semiconductor company reported $0.76 EPS for the quarter, topping analysts' consensus estimates of $0.70 by $0.06. Microchip Technology had a return on equity of 14.97% and a net margin of 9.34%.The company had revenue of $1.48 billion for the quarter, compared to the consensus estimate of $1.46 billion. During the same period in the previous year, the business earned $0.27 earnings per share. Microchip Technology's quarterly revenue was up 38.0% compared to the same quarter last year. Microchip Technology has set its Q2 2027 guidance at 0.910-0.950 EPS. Sell-side analysts expect that Microchip Technology Incorporated will post 3.16 EPS for the current fiscal 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 given a $0.455 dividend. The ex-dividend date is Monday, August 24th. This represents a $1.82 annualized dividend and a dividend yield of 2.5%. Microchip Technology's dividend payout ratio is currently 271.64%.
Insider Buying and Selling at Microchip Technology
In related news, CFO James Eric 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 value of $309,715.84. Following the sale, the chief financial officer 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 this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 1.79% of the stock is currently owned by company insiders.
Analysts Set New Price Targets
MCHP has been the topic of several recent analyst reports. BMO Capital Markets assumed coverage on Microchip Technology in a research report on Friday, August 21st. They set an "outperform" rating and a $95.00 target price on the stock. Zacks Research downgraded Microchip Technology from a "strong-buy" rating to a "hold" rating in a research note on Monday, August 17th. Rosenblatt Securities reaffirmed a "buy" rating and set a $120.00 price objective on shares of Microchip Technology in a report on Friday, August 7th. Wells Fargo & Company dropped their price objective on Microchip Technology from $95.00 to $88.00 and set an "equal weight" rating on the stock in a report on Monday, July 20th. Finally, Wall Street Zen upgraded Microchip Technology from a "hold" rating to a "buy" rating in a research report on Saturday, May 9th. 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 stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $98.67.
Check Out Our Latest Stock Analysis on Microchip Technology
Microchip Technology Profile
(
Free Report)
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.
Further Reading
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