Microchip Technology Incorporated $MCHP Shares Bought by Verdence Capital Advisors LLC

Verdence Capital Advisors LLC raised its position in Microchip Technology Incorporated (NASDAQ:MCHP - Free Report) by 321.9% during the third quarter, according to its most recent filing with the SEC. The firm owned 19,833 shares of the semiconductor company's stock after purchasing an additional 15,132 shares during the period. Verdence Capital Advisors LLC's holdings in Microchip Technology were worth $1,542,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently made changes to their positions in MCHP. Peterson Wealth Services grew its stake in Microchip Technology by 35.8% in the third quarter. Peterson Wealth Services now owns 4,832 shares of the semiconductor company's stock valued at $376,000 after acquiring an additional 1,274 shares during the period. Broadway Wealth Solutions Inc. raised its position in shares of Microchip Technology by 11.6% during the third quarter. Broadway Wealth Solutions Inc. now owns 6,919 shares of the semiconductor company's stock worth $538,000 after purchasing an additional 718 shares during the period. Probity Advisors Inc. lifted its holdings in shares of Microchip Technology by 1.6% in the 3rd quarter. Probity Advisors Inc. now owns 36,537 shares of the semiconductor company's stock worth $2,842,000 after purchasing an additional 566 shares in the last quarter. Signaturefd LLC lifted its holdings in shares of Microchip Technology by 3.8% in the 3rd quarter. Signaturefd LLC now owns 10,921 shares of the semiconductor company's stock worth $849,000 after purchasing an additional 397 shares in the last quarter. Finally, Citizens Financial Group Inc. RI lifted its holdings in shares of Microchip Technology by 51.1% in the 3rd quarter. Citizens Financial Group Inc. RI now owns 11,449 shares of the semiconductor company's stock worth $890,000 after purchasing an additional 3,872 shares in the last quarter. Institutional investors 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 dated Tuesday, August 25th. The shares were sold at an average price of $75.32, for a total value of $309,715.84. Following the completion of the sale, the chief financial officer directly owned 28,573 shares of the company's stock, valued at approximately $2,152,118.36. This represents a 12.58% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 1.79% of the company's stock.

Microchip Technology Price Performance

Shares of NASDAQ:MCHP opened at $79.63 on Thursday. The company has a current ratio of 1.92, a quick ratio of 1.11 and a debt-to-equity ratio of 0.83. The stock has a market cap of $43.24 billion, a PE ratio of 118.85, a price-to-earnings-growth ratio of 0.51 and a beta of 1.77. The stock's fifty day simple moving average is $75.15 and its two-hundred day simple moving average is $79.45. 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 posted its earnings results on Thursday, August 6th. The semiconductor company reported $0.76 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.70 by $0.06. The firm had revenue of $1.48 billion during the quarter, compared to analyst estimates of $1.46 billion. Microchip Technology had a net margin of 9.34% and a return on equity of 14.97%. The business's revenue was up 38.0% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.27 EPS. Microchip Technology has set its Q2 2027 guidance at 0.910-0.950 EPS. As a group, analysts forecast that Microchip Technology Incorporated will post 3.20 EPS for the current fiscal year.

Microchip Technology Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, September 9th. Shareholders of record on Monday, August 24th were given a $0.4550 dividend. This represents a $1.82 dividend on an annualized basis and a yield of 2.3%. The ex-dividend date of this dividend was Monday, August 24th. Microchip Technology's dividend payout ratio is presently 271.64%.

Analysts Set New Price Targets

Several research analysts have weighed in on the stock. Truist Financial lowered their price objective on shares of Microchip Technology from $105.00 to $90.00 and set a "hold" rating on the stock in a report on Friday, August 7th. Cantor Fitzgerald reiterated an "overweight" rating on shares of Microchip Technology in a report on Wednesday, September 9th. B. Riley Financial decreased their target price on shares of Microchip Technology from $108.00 to $98.00 and set a "buy" rating for the company in a research report on Thursday, October 22nd. Rosenblatt Securities restated a "buy" rating and issued a $120.00 target price on shares of Microchip Technology in a report on Friday, August 7th. Finally, Citigroup dropped their price target on shares of Microchip Technology from $113.00 to $95.00 and set a "buy" rating on the stock in a research report on Friday, August 7th. Three research analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating and eight have given a Hold rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $97.71.

Microchip Technology Company Profile

Microchip Technology Incorporated NASDAQ: MCHP develops and manufactures semiconductor products used in embedded control and connected electronic systems. Its portfolio includes microcontrollers, microprocessors, analog and power-management devices, memory products, timing and connectivity components, security solutions, and field-programmable gate arrays. The company also provides development tools, software, evaluation kits, and technical support to help customers design and produce electronic equipment.

Microchip's products are used across a range of markets, including automotive, industrial, aerospace and defense, communications, consumer electronics, data centers, and medical applications.

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