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Vest Financial LLC Grows Holdings in Microchip Technology Incorporated $MCHP

Microchip Technology logo with Computer and Technology background

Key Points

  • Vest Financial LLC increased its holdings in Microchip Technology by 21.8% during the second quarter, owning 24,471 shares valued at approximately $1.72 million.
  • Several investment firms have raised their price targets on Microchip Technology, with estimates ranging from $77.00 to $90.00, reflecting strong support for the stock among analysts.
  • Microchip Technology declared a quarterly dividend of $0.455 per share, resulting in an annualized dividend of $1.82 and a dividend yield of 2.8%.
  • Five stocks to consider instead of Microchip Technology.

Vest Financial LLC grew its position in shares of Microchip Technology Incorporated (NASDAQ:MCHP - Free Report) by 21.8% in the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 24,471 shares of the semiconductor company's stock after buying an additional 4,381 shares during the quarter. Vest Financial LLC's holdings in Microchip Technology were worth $1,722,000 as of its most recent filing with the SEC.

Other large investors also recently bought and sold shares of the company. Sowell Financial Services LLC purchased a new position in Microchip Technology during the 1st quarter worth $318,000. Oppenheimer Asset Management Inc. raised its position in Microchip Technology by 35.8% during the 1st quarter. Oppenheimer Asset Management Inc. now owns 33,554 shares of the semiconductor company's stock worth $1,624,000 after buying an additional 8,843 shares during the last quarter. Flagship Harbor Advisors LLC raised its position in Microchip Technology by 67.3% during the 1st quarter. Flagship Harbor Advisors LLC now owns 16,098 shares of the semiconductor company's stock worth $779,000 after buying an additional 6,474 shares during the last quarter. Argonautica Private Wealth Management Inc. purchased a new position in Microchip Technology during the 1st quarter worth $428,000. Finally, Mirae Asset Global Investments Co. Ltd. raised its position in Microchip Technology by 9.6% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 937,682 shares of the semiconductor company's stock worth $45,665,000 after buying an additional 82,490 shares during the last quarter. Hedge funds and other institutional investors own 91.51% of the company's stock.

Insider Activity

In other Microchip Technology news, CFO James Eric Bjornholt sold 7,356 shares of the firm's stock in a transaction dated Monday, August 25th. The shares were sold at an average price of $68.72, for a total transaction of $505,504.32. Following the sale, the chief financial officer directly owned 30,010 shares of the company's stock, valued at $2,062,287.20. This trade represents 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 firm's stock in a transaction dated Monday, August 25th. The stock was sold at an average price of $68.25, for a total transaction of $682,500.00. Following the sale, the director directly owned 30,665 shares in the company, valued at $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 company insiders.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on the stock. Needham & Company LLC upped their price target on shares of Microchip Technology from $66.00 to $77.00 and gave the stock a "buy" rating in a research note on Friday, August 8th. Cantor Fitzgerald assumed coverage on shares of Microchip Technology in a research note on Wednesday, June 18th. They set a "neutral" rating and a $70.00 price target on the stock. Piper Sandler upped 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. Mizuho upped 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, Susquehanna upped their price target on shares of Microchip Technology from $60.00 to $90.00 and gave the stock a "positive" rating in a research note on Tuesday, July 22nd. One research analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating, seven have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $75.75.

View Our Latest Analysis on Microchip Technology

Microchip Technology Price Performance

Shares of NASDAQ MCHP opened at $64.60 on Wednesday. The stock has a market cap of $34.86 billion, a price-to-earnings ratio of -190.00, a PEG ratio of 1.84 and a beta of 1.55. Microchip Technology Incorporated has a 52 week low of $34.13 and a 52 week high of $79.44. The company's 50-day moving average price is $65.16 and its 200 day moving average price is $61.27. 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 quarterly earnings data on Thursday, August 7th. The semiconductor company reported $0.27 EPS for the quarter, beating analysts' consensus estimates of $0.24 by $0.03. The firm had revenue of $1.08 billion for the quarter, compared to analysts' expectations of $1.05 billion. Microchip Technology had a negative net margin of 3.50% and a positive return on equity of 6.24%. The firm's revenue was down 13.3% on a year-over-year basis. During the same period in the prior year, the company earned $0.53 EPS. Microchip Technology has set its Q2 2026 guidance at 0.340-0.370 EPS. As a group, research analysts forecast that Microchip Technology Incorporated will post 1.03 earnings per share for the current fiscal year.

Microchip Technology Dividend Announcement

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

Microchip Technology Company Profile

(Free Report)

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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Institutional Ownership by Quarter for Microchip Technology (NASDAQ:MCHP)

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