NewEdge Advisors LLC Increases Stock Holdings in Microchip Technology Incorporated $MCHP

Key Points

• NewEdge Advisors LLC increased its holdings in Microchip Technology by 61.9% during the first quarter, now owning 40,512 shares worth approximately $1.96 million.
• Microchip Technology reported earnings of $0.27 per share, exceeding estimates, while revenue of $1.08 billion was lower compared to the previous year.
• The company recently announced a quarterly dividend of $0.455 per share, representing an annualized yield of 2.8%.

NewEdge Advisors LLC boosted its position in Microchip Technology Incorporated (NASDAQ:MCHP - Free Report) by 61.9% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 40,512 shares of the semiconductor company's stock after purchasing an additional 15,491 shares during the period. NewEdge Advisors LLC's holdings in Microchip Technology were worth $1,961,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Garde Capital Inc. purchased a new position in Microchip Technology during the first quarter valued at $30,000. Orion Capital Management LLC purchased a new position in Microchip Technology during the fourth quarter valued at $41,000. WPG Advisers LLC purchased a new position in shares of Microchip Technology during the 1st quarter valued at about $40,000. Byrne Asset Management LLC purchased a new position in shares of Microchip Technology during the 1st quarter valued at about $41,000. Finally, GW&K Investment Management LLC lifted its position in shares of Microchip Technology by 161.0% during the 1st quarter. GW&K Investment Management LLC now owns 937 shares of the semiconductor company's stock valued at $45,000 after buying an additional 578 shares in the last quarter. 91.51% of the stock is owned by hedge funds and other institutional investors.

Microchip Technology Stock Up 0.4%

Shares of MCHP opened at $65.02 on Friday. The business's 50 day moving average is $68.27 and its 200 day moving average is $59.63. The company has a market capitalization of $35.09 billion, a PE ratio of -191.24, a price-to-earnings-growth ratio of 1.85 and a beta of 1.56. Microchip Technology Incorporated has a 12-month low of $34.13 and a 12-month high of $81.64. The company has a current ratio of 2.31, a quick ratio of 1.33 and a debt-to-equity ratio of 0.80.

Microchip Technology (NASDAQ:MCHP - Get Free Report) last issued its earnings results on Thursday, August 7th. The semiconductor company reported $0.27 earnings per share (EPS) for the quarter, topping the consensus estimate 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 firm had revenue of $1.08 billion for the quarter, compared to analysts' expectations of $1.05 billion. During the same period in the previous year, the firm posted $0.53 earnings per share. The business's revenue 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. Research analysts expect that Microchip Technology Incorporated will post 1.03 earnings per share for the current fiscal year.

Microchip Technology Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 5th. Shareholders of record on Friday, August 22nd were paid a $0.455 dividend. The ex-dividend date of this dividend was Friday, August 22nd. This represents a $1.82 dividend on an annualized basis and a yield of 2.8%. Microchip Technology's payout ratio is presently -535.29%.

Insider Buying and Selling

In other Microchip Technology news, CFO James Eric Bjornholt sold 7,356 shares of Microchip Technology 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 sale, the chief financial officer owned 30,010 shares of the company's stock, valued at $2,062,287.20. The trade was a 19.69% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Matthew W. Chapman sold 10,000 shares of Microchip Technology 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 sale, the director directly owned 30,665 shares in the company, valued at approximately $2,092,886.25. The trade was a 24.59% decrease in their position. The disclosure for this sale can be found here. Insiders own 1.94% of the company's stock.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on the company. UBS Group lifted their price objective on Microchip Technology from $65.00 to $85.00 and gave the company a "buy" rating in a research report on Monday, July 7th. Raymond James Financial lifted their price objective on Microchip Technology from $65.00 to $75.00 and gave the company a "strong-buy" rating in a research report on Friday, August 8th. Zacks Research cut Microchip Technology from a "strong-buy" rating to a "hold" rating in a research report on Monday, August 18th. Evercore ISI lifted their price objective on Microchip Technology from $69.00 to $83.00 and gave the company an "outperform" rating in a research report on Thursday, June 12th. Finally, Truist Financial lifted their price objective on Microchip Technology from $52.00 to $64.00 and gave the company a "hold" rating in a research report on Wednesday, June 18th. One analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating and six have issued a Hold rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $76.58.

Microchip Technology Company 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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