UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC Grows Position in Microchip Technology Incorporated $MCHP

Key Points

• UBS Asset Management increased its stake in Microchip Technology by 9.9% during Q1, owning 3,348,465 shares worth approximately $162 million.
• Microchip Technology reported a quarterly revenue of $1.08 billion, beating analysts' expectations, but experienced a 13.3% decrease year-over-year in revenue.
• The firm declared a quarterly dividend of $0.455 per share, yielding 2.8%, with a negative dividend payout ratio of -535.29%.

UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its holdings in shares of Microchip Technology Incorporated (NASDAQ:MCHP - Free Report) by 9.9% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 3,348,465 shares of the semiconductor company's stock after purchasing an additional 302,460 shares during the quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC owned approximately 0.62% of Microchip Technology worth $162,099,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently modified their holdings of the company. First Citizens Bank & Trust Co. lifted its holdings in shares of Microchip Technology by 468.2% in the first quarter. First Citizens Bank & Trust Co. now owns 73,737 shares of the semiconductor company's stock worth $3,570,000 after buying an additional 60,760 shares in the last quarter. Everhart Financial Group Inc. purchased a new stake in shares of Microchip Technology in the first quarter worth about $221,000. Texas Bank & Trust Co purchased a new stake in shares of Microchip Technology in the fourth quarter worth about $792,000. Czech National Bank lifted its holdings in shares of Microchip Technology by 6.1% in the first quarter. Czech National Bank now owns 123,528 shares of the semiconductor company's stock worth $5,980,000 after buying an additional 7,093 shares in the last quarter. Finally, Sowell Financial Services LLC purchased a new stake in shares of Microchip Technology in the first quarter worth about $318,000. 91.51% of the stock is owned by hedge funds and other institutional investors.

Microchip Technology Stock Down 0.5%

Shares of NASDAQ MCHP opened at $64.70 on Friday. Microchip Technology Incorporated has a one year low of $34.13 and a one year high of $81.64. The company has a debt-to-equity ratio of 0.80, a current ratio of 2.31 and a quick ratio of 1.33. The firm's 50 day simple moving average is $68.12 and its two-hundred day simple moving average is $59.66. The stock has a market capitalization of $34.92 billion, a P/E ratio of -190.29, a PEG ratio of 1.86 and a beta of 1.56.

Microchip Technology (NASDAQ:MCHP - Get Free Report) last issued its quarterly earnings results on Thursday, August 7th. The semiconductor company reported $0.27 EPS 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 business had revenue of $1.08 billion for the quarter, compared to analysts' expectations of $1.05 billion. During the same period last year, the business earned $0.53 earnings per share. The business's quarterly revenue was down 13.3% on a year-over-year basis. Microchip Technology has set its Q2 2026 guidance at 0.340-0.370 EPS. As a group, analysts expect that Microchip Technology Incorporated will post 1.03 EPS for the current fiscal year.

Microchip Technology Dividend Announcement

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

Insider Buying and Selling

In other Microchip Technology news, Director Matthew W. Chapman sold 10,000 shares of the stock in a transaction that occurred on Monday, August 25th. The shares were sold at an average price of $68.25, for a total transaction of $682,500.00. Following the transaction, the director directly owned 30,665 shares in the company, valued at $2,092,886.25. This trade represents a 24.59% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO James Eric Bjornholt sold 7,356 shares of the stock in a transaction that occurred on Monday, August 25th. The shares were sold at an average price of $68.72, for a total transaction of $505,504.32. Following the transaction, the chief financial officer owned 30,010 shares in the company, valued at $2,062,287.20. The trade was a 19.69% decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.94% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on MCHP shares. Raymond James Financial increased their price target on shares of Microchip Technology from $65.00 to $75.00 and gave the stock a "strong-buy" rating in a report on Friday, August 8th. Zacks Research downgraded shares of Microchip Technology from a "strong-buy" rating to a "hold" rating in a report on Monday, August 18th. Wall Street Zen upgraded shares of Microchip Technology from a "sell" rating to a "hold" rating in a research report on Friday, June 27th. Mizuho upped their price objective on shares of Microchip Technology from $78.00 to $85.00 and gave the stock an "outperform" rating in a research report on Tuesday, July 8th. Finally, Needham & Company LLC upped their price objective on shares of Microchip Technology from $66.00 to $77.00 and gave the stock a "buy" rating in a research report on Friday, August 8th. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and six have assigned a Hold rating to the company. According to data from MarketBeat.com, Microchip Technology 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.