Microchip Technology Incorporated $MCHP Stock Sold by Americana Partners LLC

Key Points

• Americana Partners cut its Microchip Technology stake by 99.3% in the third quarter, selling 496,339 shares and retaining 3,297 shares valued at approximately $256,000.
• Despite the sale, other institutional investors increased their positions, and institutions collectively own 91.51% of MCHP. CFO James Bjornholt also sold 4,112 shares under a Rule 10b5-1 plan.
• Analysts maintain a generally positive outlook, with the stock carrying a “Moderate Buy” consensus rating and an average price target of $97.71 versus its reported $76.11 opening price.

Americana Partners LLC lessened its holdings in shares of Microchip Technology Incorporated (NASDAQ:MCHP - Free Report) by 99.3% in the third quarter, according to its most recent filing with the SEC. The firm owned 3,297 shares of the semiconductor company's stock after selling 496,339 shares during the period. Americana Partners LLC's holdings in Microchip Technology were worth $256,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently made changes to their positions in MCHP. State Street Corp grew its stake in shares of Microchip Technology by 2.9% during the second quarter. State Street Corp now owns 28,851,673 shares of the semiconductor company's stock worth $2,631,273,000 after purchasing an additional 821,147 shares during the period. Van ECK Associates Corp lifted its stake in Microchip Technology by 18.3% in the second quarter. Van ECK Associates Corp now owns 8,224,808 shares of the semiconductor company's stock valued at $750,102,000 after buying an additional 1,272,838 shares during the period. Barrow Hanley Mewhinney & Strauss LLC acquired a new position in Microchip Technology in the second quarter valued at about $537,423,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in Microchip Technology by 23.5% during the second quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 5,060,528 shares of the semiconductor company's stock worth $461,520,000 after buying an additional 962,362 shares during the last quarter. Finally, Legal & General Group Plc bought a new position in Microchip Technology during the second quarter worth about $312,597,000. Institutional investors own 91.51% of the company's stock.

Insider Activity at Microchip Technology

In other news, CFO James Bjornholt sold 4,112 shares of the stock in a transaction dated Tuesday, August 25th. The shares were sold at an average price of $75.32, for a total transaction of $309,715.84. Following the completion of the transaction, the chief financial officer directly owned 28,573 shares in the company, valued at $2,152,118.36. This represents a 12.58% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 1.79% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the company. Rosenblatt Securities restated a "buy" rating and set a $120.00 target price on shares of Microchip Technology in a research report on Friday, August 7th. BMO Capital Markets initiated coverage on Microchip Technology in a research report on Friday, August 21st. They issued an "outperform" rating and a $95.00 price objective for the company. UBS Group reissued a "buy" rating and set a $120.00 target price (down from $130.00) on shares of Microchip Technology in a research note on Friday, August 7th. Cantor Fitzgerald restated an "overweight" rating on shares of Microchip Technology in a report on Wednesday, September 9th. Finally, TD Cowen dropped 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, October 19th. Three equities research analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and eight have given a Hold rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $97.71.

Microchip Technology Price Performance

Shares of MCHP opened at $76.11 on Tuesday. The stock has a market capitalization of $41.33 billion, a P/E ratio of 113.60, a P/E/G ratio of 0.55 and a beta of 1.77. Microchip Technology Incorporated has a twelve month low of $48.52 and a twelve month high of $105.91. The company has a 50 day moving average of $75.26 and a 200-day moving average of $79.51. The company has a quick ratio of 1.11, a current ratio of 1.92 and a debt-to-equity ratio of 0.83.

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

Microchip Technology Announces Dividend

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

Microchip Technology Company Profile

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.

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