Microchip Technology Incorporated $MCHP is Harber Asset Management LLC's 2nd Largest Position

Key Points

• Harber Asset Management LLC increased its stake in Microchip Technology Inc. by 18.1%, making it the firm's second largest position at approximately 6.1% of their portfolio.
• Wall Street analysts have raised their price targets for Microchip Technology, with estimates reaching as high as $90.00, while the average rating is currently a "Moderate Buy" with a target price of $76.58.
• The company declared a quarterly dividend of $0.455 per share with an annualized yield of 2.8%, emphasizing its commitment to returning value to shareholders despite a negative net margin.

Harber Asset Management LLC raised its position in shares of Microchip Technology Incorporated (NASDAQ:MCHP - Free Report) by 18.1% in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 351,925 shares of the semiconductor company's stock after buying an additional 54,010 shares during the period. Microchip Technology comprises about 6.1% of Harber Asset Management LLC's investment portfolio, making the stock its 2nd biggest holding. Harber Asset Management LLC owned approximately 0.07% of Microchip Technology worth $17,037,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in MCHP. Garde Capital Inc. bought a new position in Microchip Technology in the 1st quarter worth $30,000. WPG Advisers LLC bought a new stake in shares of Microchip Technology in the first quarter worth approximately $40,000. Orion Capital Management LLC bought a new stake in shares of Microchip Technology in the fourth quarter worth approximately $41,000. Byrne Asset Management LLC bought a new stake in shares of Microchip Technology in the first quarter worth approximately $41,000. Finally, GW&K Investment Management LLC grew its stake in shares of Microchip Technology by 161.0% in the first quarter. GW&K Investment Management LLC now owns 937 shares of the semiconductor company's stock worth $45,000 after acquiring an additional 578 shares during the period. Hedge funds and other institutional investors own 91.51% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on the stock. Needham & Company LLC raised their price objective on shares of Microchip Technology from $66.00 to $77.00 and gave the stock a "buy" rating in a report on Friday, August 8th. Cantor Fitzgerald began coverage on shares of Microchip Technology in a report on Wednesday, June 18th. They set a "neutral" rating and a $70.00 price target on the stock. Stifel Nicolaus lifted their price target on shares of Microchip Technology from $70.00 to $82.00 and gave the company a "buy" rating in a report on Friday, July 18th. Raymond James Financial lifted their price objective on shares of Microchip Technology from $65.00 to $75.00 and gave the company a "strong-buy" rating in a research report on Friday, August 8th. Finally, Rosenblatt Securities lifted their price objective 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. One investment analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating and six have issued a Hold rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $76.58.

Insider Transactions at Microchip Technology

In related news, Director Matthew W. Chapman sold 10,000 shares of the company's stock in a transaction dated Monday, August 25th. The shares were sold at an average price of $68.25, for a total value of $682,500.00. Following the completion of 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 ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO James Eric Bjornholt sold 7,356 shares of the stock in a transaction dated Monday, August 25th. The shares were sold at an average price of $68.72, for a total transaction of $505,504.32. Following the sale, the chief financial officer directly owned 30,010 shares of the company's stock, valued at approximately $2,062,287.20. The trade was 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 Trading Down 0.4%

MCHP stock traded down $0.25 during mid-day trading on Monday, reaching $65.00. 9,209,632 shares of the stock traded hands, compared to its average volume of 9,431,667. The company has a debt-to-equity ratio of 0.80, a quick ratio of 1.33 and a current ratio of 2.31. Microchip Technology Incorporated has a one year low of $34.13 and a one year high of $82.65. The stock has a market capitalization of $35.08 billion, a PE ratio of -191.18, a PEG ratio of 1.88 and a beta of 1.56. The business has a 50-day moving average price of $69.34 and a two-hundred day moving average price of $59.39.

Microchip Technology (NASDAQ:MCHP - Get Free Report) last posted its quarterly earnings results on Thursday, August 7th. The semiconductor company reported $0.27 EPS for the quarter, topping analysts' consensus estimates of $0.24 by $0.03. The firm had revenue of $1.08 billion for the quarter, compared to analysts' expectations 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 business posted $0.53 earnings per share. Microchip Technology has set its Q2 2026 guidance at 0.340-0.370 EPS. Equities research analysts expect that Microchip Technology Incorporated will post 1.03 EPS for the current year.

Microchip Technology Dividend Announcement

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

About Microchip Technology

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.