Microchip Technology Incorporated $MCHP Stock Position Cut by Coho Partners Ltd.

Key Points

• Coho Partners Ltd. has cut its stake in Microchip Technology by 15.2%, reducing its shares from 874,904 to 742,023, making it the fund's 7th largest position.
• Recent insider sales included CFO James Eric Bjornholt and Director Matthew W. Chapman, with both selling significant portions of their shareholdings on August 25th.
• Microchip Technology reported $1.08 billion in revenue for the last quarter, exceeding analyst expectations, but it experienced a 13.3% year-over-year decline in revenue.

Coho Partners Ltd. reduced its position in Microchip Technology Incorporated (NASDAQ:MCHP - Free Report) by 15.2% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 742,023 shares of the semiconductor company's stock after selling 132,881 shares during the period. Microchip Technology makes up about 3.9% of Coho Partners Ltd.'s investment portfolio, making the stock its 7th biggest position. Coho Partners Ltd. owned approximately 0.14% of Microchip Technology worth $52,216,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of MCHP. Farther Finance Advisors LLC boosted its stake in shares of Microchip Technology by 24.0% in the 1st quarter. Farther Finance Advisors LLC now owns 3,685 shares of the semiconductor company's stock worth $179,000 after buying an additional 713 shares during the last quarter. GAMMA Investing LLC boosted its position in Microchip Technology by 75.0% in the first quarter. GAMMA Investing LLC now owns 9,922 shares of the semiconductor company's stock worth $480,000 after purchasing an additional 4,252 shares during the last quarter. Wealth Enhancement Advisory Services LLC boosted its position in Microchip Technology by 24.8% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 403,829 shares of the semiconductor company's stock worth $19,549,000 after purchasing an additional 80,125 shares during the last quarter. Janney Montgomery Scott LLC boosted its position in Microchip Technology by 7.2% in the first quarter. Janney Montgomery Scott LLC now owns 102,491 shares of the semiconductor company's stock worth $4,962,000 after purchasing an additional 6,857 shares during the last quarter. Finally, Sowell Financial Services LLC purchased a new position in shares of Microchip Technology in the first quarter worth approximately $318,000. 91.51% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In related news, CFO James Eric Bjornholt sold 7,356 shares of the business'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 value of $505,504.32. Following the transaction, the chief financial officer directly owned 30,010 shares of the company's stock, valued at approximately $2,062,287.20. The trade was a 19.69% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Matthew W. Chapman sold 10,000 shares of the business's 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 completion of 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 disclosure for this sale can be found here. 1.94% of the stock is owned by insiders.

Microchip Technology Price Performance

Shares of NASDAQ:MCHP opened at $65.35 on Friday. 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 Incorporated has a 1-year low of $34.13 and a 1-year high of $79.44. The company has a market capitalization of $35.27 billion, a P/E ratio of -192.21, a P/E/G ratio of 1.87 and a beta of 1.55. The firm's 50 day simple moving average is $65.12 and its two-hundred day simple moving average is $61.41.

Microchip Technology (NASDAQ:MCHP - Get Free Report) last released its earnings results on Thursday, August 7th. The semiconductor company reported $0.27 earnings per share for the quarter, beating analysts' consensus estimates of $0.24 by $0.03. Microchip Technology had a negative net margin of 3.50% and a positive return on equity of 6.24%. The company had revenue of $1.08 billion for the quarter, compared to analysts' expectations of $1.05 billion. During the same quarter in the previous year, the company earned $0.53 EPS. Microchip Technology'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. Research analysts expect that Microchip Technology Incorporated will post 1.03 EPS for the current fiscal year.

Microchip Technology Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 5th. Stockholders 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 payout ratio is presently -535.29%.

Analysts Set New Price Targets

MCHP has been the topic of a number of research reports. TD Cowen dropped their price objective on shares of Microchip Technology from $75.00 to $60.00 and set a "hold" rating on the stock in a report on Friday, August 8th. Piper Sandler lifted their price target on shares of Microchip Technology from $65.00 to $80.00 and gave the stock an "overweight" rating in a research note on Friday, August 8th. UBS Group lifted their price target on shares of Microchip Technology from $65.00 to $85.00 and gave the stock a "buy" rating in a research note on Monday, July 7th. Mizuho lifted their price target on shares of Microchip Technology from $78.00 to $85.00 and gave the stock an "outperform" rating in a research note on Tuesday, July 8th. Finally, Citigroup lifted their target price on Microchip Technology from $68.00 to $90.00 and gave the company a "buy" rating in a research report on Monday, July 7th. One investment analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, seven have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $75.75.

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.

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