HB Wealth Management LLC Increases Position in Microchip Technology Incorporated $MCHP

Key Points

• HB Wealth Management LLC increased its holdings in Microchip Technology by 30.7% in the second quarter, now owning 21,054 shares valued at approximately $1.48 million.
• Insiders including Director Matthew W. Chapman and CFO James Eric Bjornholt sold significant shares, indicating a 24.59% and 19.69% decrease in their ownership, respectively.
• Equities analysts generally rate Microchip Technology positively, with a consensus target price of $75.75 and varying ratings from "Strong Buy" to "Hold."

HB Wealth Management LLC lifted its holdings in shares of Microchip Technology Incorporated (NASDAQ:MCHP - Free Report) by 30.7% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 21,054 shares of the semiconductor company's stock after acquiring an additional 4,946 shares during the quarter. HB Wealth Management LLC's holdings in Microchip Technology were worth $1,482,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also modified their holdings of MCHP. Garde Capital Inc. acquired a new position in Microchip Technology in the first quarter worth about $30,000. MCF Advisors LLC grew its stake in Microchip Technology by 211.2% in the second quarter. MCF Advisors LLC now owns 473 shares of the semiconductor company's stock worth $33,000 after purchasing an additional 321 shares in the last quarter. Carderock Capital Management Inc. acquired a new position in Microchip Technology in the second quarter worth about $39,000. WPG Advisers LLC acquired a new position in Microchip Technology in the first quarter worth about $40,000. Finally, Painted Porch Advisors LLC acquired a new position in Microchip Technology in the second quarter worth about $40,000. 91.51% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Microchip Technology

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

Wall Street Analyst Weigh In

A number of equities analysts recently commented on MCHP shares. Wells Fargo & Company started coverage on Microchip Technology in a research note on Monday, September 15th. They issued an "equal weight" rating and a $60.00 price target for the company. The Goldman Sachs Group started coverage on Microchip Technology in a research note on Thursday, July 10th. They issued a "buy" rating and a $88.00 price target for the company. Truist Financial lifted their price target on Microchip Technology from $52.00 to $64.00 and gave the stock a "hold" rating in a research note on Wednesday, June 18th. Raymond James Financial lifted their target price on Microchip Technology from $65.00 to $75.00 and gave the company a "strong-buy" rating in a research note on Friday, August 8th. Finally, Susquehanna lifted their target price on Microchip Technology from $60.00 to $90.00 and gave the company a "positive" rating in a research note on Tuesday, July 22nd. One analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and seven have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $75.75.

Microchip Technology Stock Performance

Shares of NASDAQ MCHP opened at $66.13 on Friday. 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 stock has a 50 day simple moving average of $65.72 and a 200-day simple moving average of $60.49. 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 12-month low of $34.13 and a 12-month high of $79.53.

Microchip Technology (NASDAQ:MCHP - Get Free Report) last issued its quarterly earnings data on Thursday, August 7th. The semiconductor company reported $0.27 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.24 by $0.03. The business had revenue of $1.08 billion during the quarter, compared to the consensus estimate of $1.05 billion. Microchip Technology had a positive return on equity of 6.24% and a negative net margin of 3.50%.The business's revenue was down 13.3% on a year-over-year basis. During the same period in the previous year, the firm posted $0.53 earnings per share. Microchip Technology has set its Q2 2026 guidance at 0.340-0.370 EPS. On average, equities research analysts forecast that Microchip Technology Incorporated will post 1.03 EPS 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 given a dividend of $0.455 per share. The ex-dividend date was Friday, August 22nd. This represents a $1.82 annualized dividend and a dividend yield of 2.8%. Microchip Technology's payout ratio is currently -535.29%.

Microchip Technology 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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