Corient Private Wealth LP Has $53.92 Million Holdings in Microchip Technology Incorporated $MCHP

Corient Private Wealth LP raised its holdings in Microchip Technology Incorporated (NASDAQ:MCHP - Free Report) by 38.1% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 591,275 shares of the semiconductor company's stock after acquiring an additional 163,010 shares during the period. Corient Private Wealth LP owned about 0.11% of Microchip Technology worth $53,924,000 at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of the business. TOP Private Wealth LLC. bought a new stake in shares of Microchip Technology during the 2nd quarter valued at approximately $29,000. EFG International AG bought a new stake in shares of Microchip Technology during the fourth quarter worth $29,000. Miller Capital Partners Inc. acquired a new position in shares of Microchip Technology during the fourth quarter worth $29,000. Continuum Advisory LLC acquired a new position in shares of Microchip Technology during the second quarter worth $30,000. Finally, Johnson Financial Group Inc. bought a new position in shares of Microchip Technology in the 2nd quarter valued at $31,000. Institutional investors and hedge funds own 91.51% of the company's stock.

Insider Transactions at Microchip Technology

In other Microchip Technology news, CFO James Bjornholt sold 4,112 shares of the company's stock in a transaction on Tuesday, August 25th. The shares were sold at an average price of $75.32, for a total transaction 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 ownership of the stock. The sale was disclosed in a legal filing with the SEC, 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 insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on MCHP shares. Cantor Fitzgerald restated an "overweight" rating on shares of Microchip Technology in a research report on Wednesday. Wells Fargo & Company reduced their price target 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. 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. TD Cowen cut their target price on shares of Microchip Technology from $105.00 to $90.00 and set a "hold" rating on the stock in a research report on Monday, July 13th. Finally, Zacks Research downgraded shares of Microchip Technology from a "strong-buy" rating to a "hold" rating in a research report on Monday, August 17th. Three investment 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 company. Based on data from MarketBeat.com, Microchip Technology presently has an average rating of "Moderate Buy" and a consensus target price of $98.67.

Microchip Technology Price Performance

Shares of MCHP opened at $74.20 on Friday. The business has a 50-day moving average of $78.36 and a 200-day moving average of $81.02. The company has a debt-to-equity ratio of 0.83, a current ratio of 1.92 and a quick ratio of 1.11. The company has a market capitalization of $40.29 billion, a price-to-earnings ratio of 110.75, a price-to-earnings-growth ratio of 0.52 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.

Microchip Technology (NASDAQ:MCHP - Get Free Report) last released its earnings results 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. The business had revenue of $1.48 billion during the quarter, compared to the consensus estimate of $1.46 billion. Microchip Technology had a net margin of 9.34% and a return on equity of 14.97%. The company's revenue for the quarter was up 38.0% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.27 EPS. Microchip Technology has set its Q2 2027 guidance at 0.910-0.950 EPS. As a group, equities research analysts anticipate that Microchip Technology Incorporated will post 3.16 earnings per share for the current year.

Microchip Technology Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, September 9th. Investors of record on Monday, August 24th were issued a $0.455 dividend. The ex-dividend date was Monday, August 24th. This represents a $1.82 annualized dividend and a yield of 2.5%. Microchip Technology's payout ratio is presently 271.64%.

About Microchip Technology

Microchip Technology Incorporated NASDAQ: MCHP develops and manufactures semiconductor products for embedded control and connected applications. Its portfolio includes microcontrollers, microprocessors, analog and mixed-signal devices, power-management products, timing and connectivity solutions, memory products, field-programmable gate arrays (FPGAs), and security components.

The company also provides development tools, software, reference designs, and technical support that help customers design and integrate embedded systems.

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