Iams Wealth Management LLC Sells 16,553 Shares of Microchip Technology Incorporated $MCHP

Key Points

• Iams Wealth Management LLC reduced its stake in Microchip Technology by 45.4%, owning 19,870 shares valued at approximately $1.4 million after selling 16,553 shares.
• In recent insider transactions, CFO James Eric Bjornholt and Director Matthew W. Chapman sold 7,356 and 10,000 shares respectively, marking a significant decrease in their holdings.
• Microchip Technology's stock currently has an average rating of "Moderate Buy" with analysts setting a consensus price target of $75.75, reflecting positive sentiment despite recent fluctuations.

Iams Wealth Management LLC reduced its position in Microchip Technology Incorporated (NASDAQ:MCHP - Free Report) by 45.4% during the second quarter, according to its most recent 13F filing with the SEC. The firm owned 19,870 shares of the semiconductor company's stock after selling 16,553 shares during the period. Iams Wealth Management LLC's holdings in Microchip Technology were worth $1,398,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of MCHP. Garde Capital Inc. bought a new stake in shares of Microchip Technology during the first quarter valued at about $30,000. Carderock Capital Management Inc. purchased a new stake in Microchip Technology in the second quarter worth approximately $39,000. WPG Advisers LLC purchased a new stake in shares of Microchip Technology during the first quarter valued at approximately $40,000. Painted Porch Advisors LLC purchased a new stake in shares of Microchip Technology during the second quarter valued at approximately $40,000. Finally, Byrne Asset Management LLC purchased a new stake in shares of Microchip Technology during the first quarter valued at approximately $41,000. 91.51% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of brokerages recently commented on MCHP. The Goldman Sachs Group assumed coverage on Microchip Technology in a report on Thursday, July 10th. They set a "buy" rating and a $88.00 target price for the company. Rosenblatt Securities increased their target price on Microchip Technology from $63.00 to $70.00 and gave the stock a "buy" rating in a research note on Friday, May 30th. Evercore ISI increased their target price on Microchip Technology from $69.00 to $83.00 and gave the stock an "outperform" rating in a research note on Thursday, June 12th. Wall Street Zen raised Microchip Technology from a "sell" rating to a "hold" rating in a research note on Friday, June 27th. Finally, TD Cowen cut 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. One investment 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. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $75.75.

Insider Activity

In other news, Director Matthew W. Chapman sold 10,000 shares of the firm's stock in a transaction dated Monday, August 25th. The stock was sold at an average price of $68.25, for a total value of $682,500.00. Following the transaction, the director owned 30,665 shares of the company's stock, valued at $2,092,886.25. This trade represents a 24.59% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO James Eric Bjornholt sold 7,356 shares of the firm's stock in a transaction dated Monday, August 25th. The stock was sold at an average price of $68.72, for a total value of $505,504.32. Following the completion of the transaction, the chief financial officer directly owned 30,010 shares in the company, valued at $2,062,287.20. This trade represents a 19.69% decrease in their position. The disclosure for this sale can be found here. 1.94% of the stock is owned by company insiders.

Microchip Technology Stock Performance

NASDAQ:MCHP traded up $0.25 on Monday, hitting $65.40. The stock had a trading volume of 6,465,886 shares, compared to its average volume of 7,540,407. The stock has a market cap of $35.30 billion, a price-to-earnings ratio of -192.35, a price-to-earnings-growth ratio of 1.87 and a beta of 1.56. The company has a quick ratio of 1.33, a current ratio of 2.31 and a debt-to-equity ratio of 0.80. The business's 50-day simple moving average is $67.03 and its two-hundred day simple moving average is $59.94. Microchip Technology Incorporated has a 52-week low of $34.13 and a 52-week high of $81.64.

Microchip Technology (NASDAQ:MCHP - Get Free Report) last announced its earnings results 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 for the quarter, compared to analysts' expectations 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 for the quarter was down 13.3% on a year-over-year basis. During the same period last year, the firm posted $0.53 earnings per share. Microchip Technology has set its Q2 2026 guidance at 0.340-0.370 EPS. As a group, research analysts predict that Microchip Technology Incorporated will post 1.03 earnings per share for the current year.

Microchip Technology Dividend Announcement

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