E. Ohman J or Asset Management AB Sells 91,684 Shares of Microchip Technology Incorporated $MCHP

Key Points

• E. Ohman J or Asset Management AB reduced its stake in Microchip Technology by 20.2%, selling 91,684 shares and retaining 361,449 shares valued at approximately $25.4 million.
• Several hedge funds are increasing their positions in Microchip Technology, with companies like Northwest Bank & Trust Co and Clearstead Trust LLC upping their share ownership.
• Analysts have mixed ratings on Microchip Technology, with the stock receiving one Strong Buy, thirteen Buy, and six Hold ratings, and an average price target of approximately $76.58.

E. Ohman J or Asset Management AB trimmed its position in shares of Microchip Technology Incorporated (NASDAQ:MCHP - Free Report) by 20.2% in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 361,449 shares of the semiconductor company's stock after selling 91,684 shares during the quarter. E. Ohman J or Asset Management AB owned about 0.07% of Microchip Technology worth $25,435,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of the company. Northwest Bank & Trust Co lifted its position in shares of Microchip Technology by 3.0% during the fourth quarter. Northwest Bank & Trust Co now owns 7,392 shares of the semiconductor company's stock valued at $424,000 after buying an additional 217 shares during the last quarter. Clearstead Trust LLC lifted its position in shares of Microchip Technology by 10.5% during the first quarter. Clearstead Trust LLC now owns 2,356 shares of the semiconductor company's stock valued at $114,000 after buying an additional 224 shares during the last quarter. Oregon Public Employees Retirement Fund lifted its position in shares of Microchip Technology by 0.5% during the first quarter. Oregon Public Employees Retirement Fund now owns 46,235 shares of the semiconductor company's stock valued at $2,238,000 after buying an additional 230 shares during the last quarter. Greenleaf Trust lifted its position in shares of Microchip Technology by 1.0% during the first quarter. Greenleaf Trust now owns 24,933 shares of the semiconductor company's stock valued at $1,207,000 after buying an additional 242 shares during the last quarter. Finally, Bartlett & CO. Wealth Management LLC lifted its position in shares of Microchip Technology by 3.4% during the first quarter. Bartlett & CO. Wealth Management LLC now owns 8,360 shares of the semiconductor company's stock valued at $405,000 after buying an additional 276 shares during the last quarter. 91.51% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

MCHP has been the subject of several analyst reports. Rosenblatt Securities increased their price target on shares of Microchip Technology from $63.00 to $70.00 and gave the company a "buy" rating in a research report on Friday, May 30th. The Goldman Sachs Group began coverage on shares of Microchip Technology in a research report on Thursday, July 10th. They issued a "buy" rating and a $88.00 price objective for the company. Zacks Research lowered shares of Microchip Technology from a "strong-buy" rating to a "hold" rating in a research report on Monday, August 18th. Needham & Company LLC increased their price objective on shares of Microchip Technology from $66.00 to $77.00 and gave the company a "buy" rating in a research report on Friday, August 8th. Finally, Cantor Fitzgerald began coverage on shares of Microchip Technology in a research report on Wednesday, June 18th. They issued a "neutral" rating and a $70.00 price objective for the company. One research analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and six have issued a Hold rating to the company. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $76.58.

Microchip Technology Stock Performance

Shares of NASDAQ MCHP opened at $64.70 on Monday. The company has a 50 day simple moving average of $68.12 and a two-hundred day simple moving average of $59.68. The stock has a market cap of $34.92 billion, a price-to-earnings ratio of -190.29, a PEG ratio of 1.85 and a beta of 1.56. The company has a current ratio of 2.31, a quick ratio of 1.33 and a debt-to-equity ratio of 0.80. Microchip Technology Incorporated has a 12 month low of $34.13 and a 12 month high of $81.64.

Microchip Technology (NASDAQ:MCHP - Get Free Report) last released its quarterly earnings data on Thursday, August 7th. The semiconductor company reported $0.27 EPS for the quarter, beating the consensus estimate of $0.24 by $0.03. The business had revenue of $1.08 billion for the quarter, compared to the consensus estimate of $1.05 billion. Microchip Technology had a negative net margin of 3.50% and a positive return on equity of 6.24%. The business's revenue for the quarter was down 13.3% on a year-over-year basis. During the same period in the prior year, the firm earned $0.53 EPS. Microchip Technology has set its Q2 2026 guidance at 0.340-0.370 EPS. As a group, analysts predict that Microchip Technology Incorporated will post 1.03 earnings per share for the current year.

Microchip Technology Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 5th. Stockholders of record on Friday, August 22nd were issued a $0.455 dividend. This represents a $1.82 annualized dividend and a dividend yield of 2.8%. The ex-dividend date of this dividend was Friday, August 22nd. Microchip Technology's dividend payout ratio is -535.29%.

Insider Buying and Selling at Microchip Technology

In other news, Director Matthew W. Chapman sold 10,000 shares of the company's stock in a transaction on Monday, August 25th. The shares were sold at an average price of $68.25, for a total value of $682,500.00. Following the sale, the director directly owned 30,665 shares of the company's stock, valued at $2,092,886.25. This represents a 24.59% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO James Eric Bjornholt sold 7,356 shares of the company's stock in a transaction on Monday, August 25th. The shares were sold at an average price of $68.72, for a total transaction of $505,504.32. Following the completion of the sale, the chief financial officer directly owned 30,010 shares in the company, valued at $2,062,287.20. This trade represents a 19.69% decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.94% of the stock is owned by corporate insiders.

Microchip Technology Company Profile

Microchip Technology Incorporated engages in the development, manufacture, and sale of smart, connected, and secure embedded control solutions in the Americas, Europe, and Asia. The company offers general purpose 8-bit, 16-bit, and 32-bit mixed-signal microcontrollers; 32-bit embedded mixed-signal microprocessors; and specialized microcontrollers for automotive, industrial, computing, communications, lighting, power supplies, motor control, human machine interface, security, wired connectivity, and wireless connectivity applications.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.