Microchip Technology Incorporated $MCHP Stock Sold by Envestnet Asset Management Inc.

Key Points

• Envestnet Asset Management reduced its Microchip Technology stake by 5.3% in the second quarter, selling 63,366 shares and retaining 1.13 million shares worth approximately $102.6 million. Institutional investors collectively own 91.51% of the company.
• Microchip reported quarterly EPS of $0.76, exceeding estimates by $0.06, while revenue rose 38% year over year to $1.48 billion. The company guided to fiscal Q2 2027 EPS of $0.91–$0.95.
• The stock has a “Moderate Buy” consensus rating and an average analyst price target of $98.67, compared with a recent price of $78.69. Microchip also maintains a quarterly dividend of $0.455 per share, a 2.3% annualized yield.

Envestnet Asset Management Inc. decreased its position in shares of Microchip Technology Incorporated (NASDAQ:MCHP - Free Report) by 5.3% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,125,461 shares of the semiconductor company's stock after selling 63,366 shares during the quarter. Envestnet Asset Management Inc. owned 0.21% of Microchip Technology worth $102,642,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Peregrine Investment Management Inc. acquired a new stake in shares of Microchip Technology during the 1st quarter worth approximately $5,492,000. Epoch Investment Partners Inc. raised its position in shares of Microchip Technology by 16.5% during the 4th quarter. Epoch Investment Partners Inc. now owns 1,349,136 shares of the semiconductor company's stock worth $85,967,000 after acquiring an additional 191,339 shares in the last quarter. Norges Bank acquired a new position in Microchip Technology in the fourth quarter valued at $664,564,000. Junto Capital Management LP purchased a new stake in Microchip Technology in the second quarter valued at approximately $38,537,000. Finally, Eurizon Capital SGR S.p.A. purchased a new position in Microchip Technology during the 4th quarter worth $6,989,000. 91.51% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Microchip Technology

In other news, CFO James Bjornholt sold 4,112 shares of Microchip Technology stock in a transaction dated Tuesday, August 25th. The stock was sold at an average price of $75.32, for a total value of $309,715.84. Following the transaction, the chief financial officer directly owned 28,573 shares in the company, valued at approximately $2,152,118.36. The trade was a 12.58% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 1.79% of the company's stock.

Microchip Technology Stock Performance

Microchip Technology stock opened at $78.69 on Friday. The firm's 50 day simple moving average is $76.00 and its 200-day simple moving average is $81.09. The company has a market cap of $42.73 billion, a P/E ratio of 117.45, a price-to-earnings-growth ratio of 0.52 and a beta of 1.75. The company has a debt-to-equity ratio of 0.83, a current ratio of 1.92 and a quick ratio of 1.11. Microchip Technology Incorporated has a fifty-two week low of $48.52 and a fifty-two week high of $105.91.

Microchip Technology (NASDAQ:MCHP - Get Free Report) last posted its quarterly earnings results on Thursday, August 6th. The semiconductor company reported $0.76 EPS for the quarter, beating the consensus estimate of $0.70 by $0.06. Microchip Technology had a net margin of 9.34% and a return on equity of 14.97%. The business had revenue of $1.48 billion for the quarter, compared to analysts' expectations of $1.46 billion. During the same period in the previous year, the company posted $0.27 EPS. Microchip Technology's 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. As a group, equities research analysts predict that Microchip Technology Incorporated will post 3.16 EPS for the current year.

Microchip Technology Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, September 9th. Stockholders of record on Monday, August 24th were given a $0.4550 dividend. This represents a $1.82 annualized dividend and a dividend yield of 2.3%. The ex-dividend date of this dividend was Monday, August 24th. Microchip Technology's dividend payout ratio (DPR) is currently 271.64%.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on the stock. Truist Financial dropped their price target on shares of Microchip Technology from $105.00 to $90.00 and set a "hold" rating on the stock in a research note on Friday, August 7th. Citigroup cut their price target on Microchip Technology from $113.00 to $95.00 and set a "buy" rating for the company in a report on Friday, August 7th. Zacks Research lowered shares of Microchip Technology from a "strong-buy" rating to a "hold" rating in a report on Monday, August 17th. Cantor Fitzgerald reissued an "overweight" rating on shares of Microchip Technology in a research report on Wednesday, September 9th. Finally, BMO Capital Markets began coverage on Microchip Technology in a research note on Friday, August 21st. They set an "outperform" rating and a $95.00 price objective for the company. Three equities research analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating and eight have given a Hold rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $98.67.

Microchip Technology Profile

Microchip Technology Incorporated NASDAQ: MCHP develops and manufactures semiconductor products for embedded control and connected applications. Its portfolio includes microcontrollers, microprocessors, analog and mixed-signal devices, power-management products, timing and connectivity solutions, memory products, field-programmable gate arrays (FPGAs), and security components.

The company also provides development tools, software, reference designs, and technical support that help customers design and integrate embedded systems.

Want to see what other hedge funds are holding MCHP? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Microchip Technology Incorporated (NASDAQ:MCHP - Free Report).

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.