Commonwealth Retirement Investments LLC Reduces Stock Holdings in Microchip Technology Incorporated $MCHP

Key Points

• Commonwealth Retirement Investments LLC cut its Microchip Technology stake by 88.6% in the second quarter, selling 20,108 shares and retaining 2,578 shares valued at about $235,000. Institutional investors collectively own 91.51% of the company.
• Analyst sentiment remains generally positive, with Microchip receiving a consensus “Moderate Buy” rating and an average price target of $98.85. Recent targets include $120 from UBS and $125 from Cantor Fitzgerald.
• Microchip exceeded quarterly expectations with adjusted EPS of $0.76 and revenue of $1.48 billion, up 38% year over year. The company also declared a quarterly dividend of $0.455 per share, representing a 2.3% annualized yield.

Commonwealth Retirement Investments LLC cut its position in Microchip Technology Incorporated (NASDAQ:MCHP - Free Report) by 88.6% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,578 shares of the semiconductor company's stock after selling 20,108 shares during the quarter. Commonwealth Retirement Investments LLC's holdings in Microchip Technology were worth $235,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Miller Capital Partners Inc. purchased a new stake in Microchip Technology during the fourth quarter valued at about $29,000. EFG International AG bought a new stake in shares of Microchip Technology in the fourth quarter valued at approximately $29,000. Caitong International Asset Management Co. Ltd boosted its holdings in Microchip Technology by 4,663.6% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 524 shares of the semiconductor company's stock worth $33,000 after buying an additional 513 shares during the period. Garton & Associates Financial Advisors LLC purchased a new position in Microchip Technology in the 4th quarter valued at approximately $33,000. Finally, Reflection Asset Management bought a new stake in Microchip Technology during the 4th quarter valued at $33,000. Institutional investors own 91.51% of the company's stock.

Analyst Ratings Changes

MCHP has been the subject of several recent research reports. Barclays lifted their price target on Microchip Technology from $80.00 to $105.00 and gave the company an "equal weight" rating in a research report on Monday, May 11th. Zacks Research raised Microchip Technology from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, May 12th. Weiss Ratings raised shares of Microchip Technology from a "hold (c-)" rating to a "hold (c)" rating in a research note on Tuesday. UBS Group reiterated a "buy" rating and issued a $120.00 price objective (down from $130.00) on shares of Microchip Technology in a report on Friday, August 7th. Finally, Cantor Fitzgerald reaffirmed an "overweight" rating and set a $125.00 target price on shares of Microchip Technology in a report on Monday, August 3rd. Three research analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and seven have given a Hold rating to the stock. Based on data from MarketBeat, Microchip Technology has an average rating of "Moderate Buy" and a consensus target price of $98.85.

Insider Transactions at Microchip Technology

In other Microchip Technology news, COO Richard J. Simoncic sold 5,000 shares of the firm's stock in a transaction dated Thursday, June 4th. The shares were sold at an average price of $97.52, for a total value of $487,600.00. Following the completion of the sale, the chief operating officer directly owned 130,508 shares in the company, valued at $12,727,140.16. This trade represents a 3.69% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CFO James Eric Bjornholt sold 3,667 shares of Microchip Technology 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 sale, the chief financial officer directly owned 28,573 shares in the company, valued at approximately $2,596,428.51. The trade was a 11.37% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, 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 Up 1.9%

Shares of NASDAQ:MCHP opened at $79.17 on Friday. The stock's 50-day moving average is $85.72 and its 200 day moving average is $81.47. The company has a market cap of $42.99 billion, a PE ratio of 118.17, a P/E/G ratio of 0.62 and a beta of 1.76. 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 Incorporated has a 1 year low of $48.52 and a 1 year high of $105.91.

Microchip Technology (NASDAQ:MCHP - Get Free Report) last released its quarterly earnings data on Thursday, August 6th. The semiconductor company reported $0.76 earnings per share for the quarter, topping the consensus estimate of $0.70 by $0.06. Microchip Technology had a return on equity of 14.97% and a net margin of 9.34%.The business had revenue of $1.48 billion during the quarter, compared to analysts' expectations of $1.46 billion. During the same quarter last year, the business posted $0.27 EPS. The business's revenue was up 38.0% on a year-over-year basis. Microchip Technology has set its Q2 2027 guidance at 0.910-0.950 EPS. Sell-side analysts anticipate that Microchip Technology Incorporated will post 2.81 EPS for the current year.

Microchip Technology Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 9th. Shareholders 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 yield of 2.3%. Microchip Technology's dividend payout ratio is 271.64%.

Microchip Technology Profile

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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