Wealth Enhancement Advisory Services LLC Raises Stake in Microchip Technology Incorporated $MCHP

Key Points

• Wealth Enhancement Advisory Services LLC increased its holdings in Microchip Technology by 4.3%, owning approximately 421,195 shares valued at $30.77 million.
• Wall Street analysts generally have a positive outlook on the company, with a consensus rating of "Moderate Buy" and an average price target of $75.75.
• Recently, Microchip Technology announced a quarterly dividend of $0.455 per share, reflecting a yield of 2.8% despite a significant negative payout ratio.

Wealth Enhancement Advisory Services LLC boosted its holdings in Microchip Technology Incorporated (NASDAQ:MCHP - Free Report) by 4.3% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 421,195 shares of the semiconductor company's stock after purchasing an additional 17,366 shares during the quarter. Wealth Enhancement Advisory Services LLC owned about 0.08% of Microchip Technology worth $30,773,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of MCHP. First Citizens Bank & Trust Co. boosted its holdings in Microchip Technology by 468.2% during the 1st quarter. First Citizens Bank & Trust Co. now owns 73,737 shares of the semiconductor company's stock worth $3,570,000 after acquiring an additional 60,760 shares during the last quarter. Everhart Financial Group Inc. purchased a new position in Microchip Technology during the 1st quarter worth $221,000. Czech National Bank boosted its holdings in Microchip Technology by 6.1% during the 1st quarter. Czech National Bank now owns 123,528 shares of the semiconductor company's stock worth $5,980,000 after acquiring an additional 7,093 shares during the last quarter. Sowell Financial Services LLC purchased a new position in Microchip Technology during the 1st quarter worth $318,000. Finally, Toronto Dominion Bank boosted its holdings in Microchip Technology by 3.5% during the 4th quarter. Toronto Dominion Bank now owns 308,684 shares of the semiconductor company's stock worth $17,703,000 after acquiring an additional 10,560 shares during the last quarter. Institutional investors and hedge funds own 91.51% of the company's stock.

Analysts Set New Price Targets

A number of brokerages recently weighed in on MCHP. KeyCorp boosted their price target on shares of Microchip Technology from $70.00 to $85.00 and gave the stock an "overweight" rating in a report on Tuesday, July 8th. Piper Sandler boosted their price target on shares of Microchip Technology from $65.00 to $80.00 and gave the stock an "overweight" rating in a report on Friday, August 8th. Needham & Company LLC boosted their price target 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. Evercore ISI boosted their price objective on Microchip Technology from $69.00 to $83.00 and gave the company an "outperform" rating in a research note on Thursday, June 12th. Finally, Raymond James Financial boosted their price objective 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. One research analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and seven have issued a Hold rating to the company. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $75.75.

Microchip Technology Price Performance

Shares of MCHP traded up $0.47 during midday trading on Tuesday, hitting $65.87. 806,967 shares of the company traded hands, compared to its average volume of 10,087,231. The stock has a 50-day moving average of $67.03 and a 200-day moving average of $59.94. Microchip Technology Incorporated has a one year low of $34.13 and a one year high of $81.64. The firm has a market cap of $35.55 billion, a P/E ratio of -193.28, a PEG ratio of 1.87 and a beta of 1.56. The company has a debt-to-equity ratio of 0.80, a current ratio of 2.31 and a quick ratio of 1.33.

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

Microchip Technology Announces Dividend

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

Insider Activity at Microchip Technology

In related news, Director Matthew W. Chapman sold 10,000 shares of the company's stock in a transaction that occurred 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 transaction, the director directly owned 30,665 shares in the company, valued at approximately $2,092,886.25. This represents a 24.59% decrease in their ownership of the stock. The transaction was disclosed in a document filed 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 that occurred on Monday, August 25th. The stock was 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 in the company, valued at approximately $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 currently owned by corporate insiders.

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.