Cramer Rosenthal Mcglynn LLC Has $9.01 Million Stock Position in Microchip Technology Incorporated $MCHP

Key Points

• Cramer Rosenthal Mcglynn LLC increased its stake in Microchip Technology ($MCHP) by 13.9%, owning 186,168 shares worth approximately $9 million at the end of the most recent quarter.
• Microchip Technology reported a quarterly earnings per share (EPS) of $0.27, exceeding estimates, despite a 13.3% year-over-year revenue decline.
• The company declared a quarterly dividend of $0.455, amounting to an annualized dividend yield of 2.6%, to be paid on September 5th.

Cramer Rosenthal Mcglynn LLC increased its stake in shares of Microchip Technology Incorporated (NASDAQ:MCHP - Free Report) by 13.9% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 186,168 shares of the semiconductor company's stock after buying an additional 22,704 shares during the period. Cramer Rosenthal Mcglynn LLC's holdings in Microchip Technology were worth $9,012,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the stock. Potomac Fund Management Inc. ADV lifted its position in Microchip Technology by 10.6% during the 1st quarter. Potomac Fund Management Inc. ADV now owns 14,234 shares of the semiconductor company's stock worth $689,000 after buying an additional 1,367 shares in the last quarter. Comerica Bank raised its position in shares of Microchip Technology by 0.3% during the first quarter. Comerica Bank now owns 138,288 shares of the semiconductor company's stock worth $6,695,000 after acquiring an additional 435 shares during the last quarter. ICONIQ Capital LLC acquired a new position in shares of Microchip Technology during the first quarter valued at $337,000. Jump Financial LLC lifted its stake in shares of Microchip Technology by 55.5% during the first quarter. Jump Financial LLC now owns 90,301 shares of the semiconductor company's stock valued at $4,371,000 after acquiring an additional 32,229 shares during the period. Finally, Ariston Services Group boosted its holdings in Microchip Technology by 25.8% in the first quarter. Ariston Services Group now owns 5,922 shares of the semiconductor company's stock valued at $287,000 after acquiring an additional 1,214 shares during the last quarter. Institutional investors and hedge funds own 91.51% of the company's stock.

Analysts Set New Price Targets

Several research analysts have recently issued reports on MCHP shares. Zacks Research lowered shares of Microchip Technology from a "strong-buy" rating to a "hold" rating in a research note on Monday, August 18th. B. Riley raised their price objective on shares of Microchip Technology from $60.00 to $75.00 and gave the company a "buy" rating in a research note on Friday, May 9th. Susquehanna lifted their target price on shares of Microchip Technology from $60.00 to $90.00 and gave the stock a "positive" rating in a report on Tuesday, July 22nd. UBS Group upped their target price on shares of Microchip Technology from $65.00 to $85.00 and gave the company a "buy" rating in a research report on Monday, July 7th. Finally, Wall Street Zen upgraded Microchip Technology from a "sell" rating to a "hold" rating in a research report on Friday, June 27th. One investment analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and six have issued a Hold rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $76.58.

Insider Buying and Selling

In related news, 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 transaction of $505,504.32. Following the completion of the sale, the chief financial officer directly owned 30,010 shares of the company's stock, valued at approximately $2,062,287.20. This represents a 19.69% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, 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 value of $682,500.00. Following the sale, the director directly owned 30,665 shares of the company's stock, valued at approximately $2,092,886.25. The trade was a 24.59% 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 Stock Down 2.1%

NASDAQ MCHP traded down $1.40 during trading hours on Thursday, reaching $65.25. 13,996,951 shares of the company's stock were exchanged, compared to its average volume of 9,616,931. The company's 50-day moving average is $69.50 and its two-hundred day moving average is $59.17. Microchip Technology Incorporated has a one year low of $34.13 and a one year high of $82.65. The company has a debt-to-equity ratio of 0.80, a quick ratio of 1.33 and a current ratio of 2.31. The company has a market capitalization of $35.21 billion, a price-to-earnings ratio of -191.91, a price-to-earnings-growth ratio of 1.93 and a beta of 1.55.

Microchip Technology (NASDAQ:MCHP - Get Free Report) last posted its earnings results on Thursday, August 7th. The semiconductor company reported $0.27 earnings per share (EPS) for the quarter, topping 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 during the quarter, compared to analysts' expectations of $1.05 billion. During the same period in the prior year, the business earned $0.53 EPS. Microchip Technology's revenue for the quarter was down 13.3% compared to the same quarter last year. Microchip Technology has set its Q2 2026 guidance at 0.340-0.370 EPS. On average, analysts forecast that Microchip Technology Incorporated will post 1.03 EPS for the current fiscal year.

Microchip Technology Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 5th. Investors of record on Friday, August 22nd will be 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 of this dividend is Friday, August 22nd. Microchip Technology's dividend payout ratio is presently -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.