Hardman Johnston Global Advisors LLC Sells 7,400 Shares of Microchip Technology Incorporated $MCHP

Key Points

• Hardman Johnston Global Advisors LLC reduced its stake in Microchip Technology by 51.7%, selling 7,400 shares and now holding 6,900 shares worth approximately $486,000.
• Several institutional investors, including GAMMA Investing LLC and NBC Securities Inc., significantly increased their holdings in Microchip Technology in the first quarter.
• Microchip Technology's recent quarterly earnings surpassed expectations, reporting $0.27 EPS against a consensus estimate of $0.24, despite a year-over-year revenue decline of 13.3%.

Hardman Johnston Global Advisors LLC cut its position in shares of Microchip Technology Incorporated (NASDAQ:MCHP - Free Report) by 51.7% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 6,900 shares of the semiconductor company's stock after selling 7,400 shares during the period. Hardman Johnston Global Advisors LLC's holdings in Microchip Technology were worth $486,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also recently made changes to their positions in the company. GAMMA Investing LLC grew its holdings in Microchip Technology by 8,371.3% during the 1st quarter. GAMMA Investing LLC now owns 480,324 shares of the semiconductor company's stock worth $23,252,000 after acquiring an additional 474,654 shares in the last quarter. Parallel Advisors LLC lifted its position in shares of Microchip Technology by 20.7% in the 1st quarter. Parallel Advisors LLC now owns 5,709 shares of the semiconductor company's stock worth $276,000 after purchasing an additional 981 shares during the period. NBC Securities Inc. raised its stake in Microchip Technology by 114,160.0% in the first quarter. NBC Securities Inc. now owns 5,713 shares of the semiconductor company's stock worth $276,000 after buying an additional 5,708 shares in the last quarter. Merit Financial Group LLC raised its stake in Microchip Technology by 17.9% in the first quarter. Merit Financial Group LLC now owns 24,384 shares of the semiconductor company's stock worth $1,180,000 after buying an additional 3,701 shares in the last quarter. Finally, Matrix Trust Co raised its stake in Microchip Technology by 71.2% in the first quarter. Matrix Trust Co now owns 2,854 shares of the semiconductor company's stock worth $138,000 after buying an additional 1,187 shares in the last quarter. Hedge funds and other institutional investors own 91.51% of the company's stock.

Insider Activity at Microchip Technology

In related news, CFO James Eric Bjornholt sold 7,356 shares of the firm'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 transaction, the chief financial officer owned 30,010 shares of the company's stock, valued at $2,062,287.20. This trade represents a 19.69% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Matthew W. Chapman sold 10,000 shares of the stock in a transaction dated Monday, August 25th. The stock was 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 in the company, valued at $2,092,886.25. This represents a 24.59% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 1.94% of the company's stock.

Microchip Technology Stock Up 3.2%

NASDAQ:MCHP opened at $66.13 on Friday. The company has a market cap of $35.69 billion, a PE ratio of -194.50, a P/E/G ratio of 1.84 and a beta of 1.55. Microchip Technology Incorporated has a twelve month low of $34.13 and a twelve month high of $79.53. The company has a current ratio of 2.31, a quick ratio of 1.33 and a debt-to-equity ratio of 0.80. The company's 50 day moving average is $65.72 and its two-hundred day moving average is $60.49.

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

Microchip Technology Dividend Announcement

The company 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. The ex-dividend date of this dividend was Friday, August 22nd. This represents a $1.82 dividend on an annualized basis and a dividend yield of 2.8%. Microchip Technology's dividend payout ratio is currently -535.29%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on the company. TD Cowen cut their price target on Microchip Technology from $75.00 to $60.00 and set a "hold" rating on the stock in a report on Friday, August 8th. UBS Group increased their price target on shares of Microchip Technology from $65.00 to $85.00 and gave the company a "buy" rating in a research report on Monday, July 7th. Cantor Fitzgerald assumed coverage on shares of Microchip Technology in a research report on Wednesday, June 18th. They set a "neutral" rating and a $70.00 price target for the company. Piper Sandler boosted their price objective on shares of Microchip Technology from $65.00 to $80.00 and gave the stock an "overweight" rating in a research note on Friday, August 8th. Finally, Truist Financial boosted their price objective on shares of Microchip Technology from $52.00 to $64.00 and gave the stock a "hold" rating in a research note on Wednesday, June 18th. One investment analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating and seven have assigned a Hold rating to the company. According to MarketBeat, Microchip Technology currently has an average rating of "Moderate Buy" and a consensus price target of $75.75.

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.

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