Microchip Technology Incorporated $MCHP Shares Sold by Assenagon Asset Management S.A.

Key Points

• Assenagon Asset Management S.A. decreased its stake in Microchip Technology by 15.1% in Q2, holding approximately 340,264 shares valued at about $23.9 million.
• Analysis by various research firms has resulted in mixed ratings for Microchip Technology, with a consensus target price of $75.75 and a majority labeling it as a "Moderate Buy."
• Director Matthew W. Chapman and CFO James Eric Bjornholt both sold shares recently, indicating a potential decline in insider ownership.

Assenagon Asset Management S.A. lessened its holdings in Microchip Technology Incorporated (NASDAQ:MCHP - Free Report) by 15.1% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 340,264 shares of the semiconductor company's stock after selling 60,310 shares during the period. Assenagon Asset Management S.A. owned approximately 0.06% of Microchip Technology worth $23,944,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also modified their holdings of the company. Garde Capital Inc. acquired a new position in shares of Microchip Technology in the 1st quarter valued at $30,000. Carderock Capital Management Inc. acquired a new position in Microchip Technology during the 2nd quarter worth about $39,000. WPG Advisers LLC acquired a new position in Microchip Technology during the 1st quarter worth about $40,000. Byrne Asset Management LLC acquired a new position in Microchip Technology during the 1st quarter worth about $41,000. Finally, GW&K Investment Management LLC lifted its stake in Microchip Technology by 161.0% during the 1st 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 in the last quarter. Institutional investors and hedge funds own 91.51% of the company's stock.

Microchip Technology Stock Up 0.4%

Shares of MCHP traded up $0.25 during mid-day trading on Monday, reaching $65.40. The company's stock had a trading volume of 6,465,886 shares, compared to its average volume of 7,540,407. Microchip Technology Incorporated has a 12-month low of $34.13 and a 12-month high of $81.64. The stock has a market cap of $35.30 billion, a PE ratio of -192.35, a price-to-earnings-growth 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. The company's 50 day moving average is $67.03 and its 200 day moving average is $59.94.

Microchip Technology (NASDAQ:MCHP - Get Free Report) last released its quarterly earnings data on Thursday, August 7th. The semiconductor company reported $0.27 EPS for the quarter, beating analysts' consensus estimates 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 business had revenue of $1.08 billion for the quarter, compared to the consensus estimate of $1.05 billion. During the same quarter in the prior year, the business posted $0.53 EPS. The business's revenue for the quarter was down 13.3% on a year-over-year basis. Microchip Technology has set its Q2 2026 guidance at 0.340-0.370 EPS. Equities analysts anticipate that Microchip Technology Incorporated will post 1.03 EPS for the current fiscal year.

Microchip Technology Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, September 5th. Investors of record on Friday, August 22nd were paid a dividend of $0.455 per share. This represents a $1.82 dividend on an annualized basis and a yield of 2.8%. The ex-dividend date was Friday, August 22nd. Microchip Technology's dividend payout ratio (DPR) is currently -535.29%.

Analyst Upgrades and Downgrades

MCHP has been the topic of several research reports. TD Cowen decreased their target price on Microchip Technology from $75.00 to $60.00 and set a "hold" rating on the stock in a research note on Friday, August 8th. Wells Fargo & Company started coverage on Microchip Technology in a research report on Monday, September 15th. They issued an "equal weight" rating and a $60.00 price target on the stock. Raymond James Financial increased their price target on Microchip Technology from $65.00 to $75.00 and gave the company a "strong-buy" rating in a research report on Friday, August 8th. Piper Sandler increased their price target on Microchip Technology from $65.00 to $80.00 and gave the company an "overweight" rating in a research report on Friday, August 8th. Finally, Cantor Fitzgerald started coverage on Microchip Technology in a research report on Wednesday, June 18th. They issued a "neutral" rating and a $70.00 price target on the stock. One research 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's stock. According to MarketBeat, Microchip Technology currently has an average rating of "Moderate Buy" and an average target price of $75.75.

Insider Buying and Selling

In other Microchip Technology news, Director Matthew W. Chapman sold 10,000 shares of the 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 completion of the sale, the director directly owned 30,665 shares of the company's stock, valued at approximately $2,092,886.25. This trade represents a 24.59% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO James Eric Bjornholt sold 7,356 shares of the 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 of the company's stock, valued at $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. Company insiders own 1.94% of the company's stock.

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.