Microchip Technology Incorporated $MCHP Stock: Hosking Partners LLP Reduces Stake

Hosking Partners LLP trimmed its position in shares of Microchip Technology Incorporated (NASDAQ:MCHP - Free Report) by 10.3% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 296,965 shares of the semiconductor company's stock after selling 34,186 shares during the quarter. Hosking Partners LLP owned approximately 0.05% of Microchip Technology worth $23,095,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. TOP Private Wealth LLC. bought a new position in Microchip Technology in the 2nd quarter valued at approximately $29,000. GK Wealth Management LLC bought a new position in Microchip Technology in the 3rd quarter valued at approximately $29,000. Continuum Advisory LLC acquired a new stake in Microchip Technology during the 2nd quarter worth approximately $30,000. Johnson Financial Group Inc. acquired a new stake in Microchip Technology during the 2nd quarter worth approximately $31,000. Finally, Rakuten Securities Inc. acquired a new stake in Microchip Technology during the 2nd quarter worth approximately $34,000. 91.51% of the stock is currently owned by institutional investors.

Insider Activity

In other news, CFO James Bjornholt sold 4,112 shares of the business's stock in a transaction that occurred on Tuesday, August 25th. The shares were sold at an average price of $75.32, for a total value of $309,715.84. Following the transaction, the chief financial officer owned 28,573 shares in the company, valued at approximately $2,152,118.36. The trade was a 12.58% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 1.79% of the company's stock.

Microchip Technology Trading Up 1.7%

Shares of MCHP stock opened at $77.15 on Thursday. Microchip Technology Incorporated has a 1-year low of $48.52 and a 1-year high of $105.91. 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 $41.89 billion, a price-to-earnings ratio of 46.25, a PEG ratio of 0.52 and a beta of 1.77. The stock has a 50-day moving average of $75.26 and a 200-day moving average of $82.82.

Microchip Technology (NASDAQ:MCHP - Get Free Report) last posted its quarterly earnings data on Thursday, August 6th. The semiconductor company reported $0.76 EPS for the quarter, topping analysts' consensus estimates of $0.70 by $0.06. Microchip Technology had a return on equity of 14.97% and a net margin of 9.34%. The company had revenue of $1.48 billion for the quarter, compared to analyst estimates of $1.46 billion. During the same period in the previous year, the firm earned $0.27 earnings per share. The firm's quarterly revenue was up 38.0% on a year-over-year basis. Microchip Technology has set its Q2 2027 guidance at 0.910-0.950 EPS. On average, equities research analysts forecast that Microchip Technology Incorporated will post 3.20 earnings per share for the current year.

Microchip Technology Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, September 9th. Shareholders of record on Monday, August 24th were issued a dividend of $0.4550 per share. The ex-dividend date was Monday, August 24th. This represents a $1.82 annualized dividend and a yield of 2.4%. Microchip Technology's dividend payout ratio (DPR) is presently 271.64%.

Analyst Ratings Changes

A number of research firms have weighed in on MCHP. TD Cowen reduced their target price on shares of Microchip Technology from $90.00 to $75.00 and set a "hold" rating on the stock in a report on Monday. Zacks Research downgraded shares of Microchip Technology from a "strong-buy" rating to a "hold" rating in a research note on Monday, August 17th. Wells Fargo & Company cut their price target on shares of Microchip Technology from $88.00 to $80.00 and set an "equal weight" rating on the stock in a report on Tuesday. Cantor Fitzgerald reiterated an "overweight" rating on shares of Microchip Technology in a report on Wednesday, September 9th. Finally, BMO Capital Markets began coverage on shares of Microchip Technology in a research note on Friday, August 21st. They issued an "outperform" rating and a $95.00 price objective on the stock. Three research analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and eight have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, Microchip Technology has an average rating of "Moderate Buy" and a consensus price target of $97.57.

About Microchip Technology

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.