Woodline Partners LP Sells 1,476,508 Shares of Microchip Technology Incorporated $MCHP

Key Points

• Woodline Partners LP significantly reduced its holdings in Microchip Technology, selling 1,476,508 shares and lowering its stake by 69.6% in the first quarter.
• Microchip Technology's stock received mixed ratings from analysts, with target prices ranging from $60.00 to $88.00, reflecting a consensus rating of "Moderate Buy."
• The company announced a quarterly dividend of $0.455 per share, representing an annualized yield of 2.8%, despite a negative payout ratio of -535.29%.

Woodline Partners LP lowered its stake in shares of Microchip Technology Incorporated (NASDAQ:MCHP - Free Report) by 69.6% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 645,169 shares of the semiconductor company's stock after selling 1,476,508 shares during the quarter. Woodline Partners LP owned approximately 0.12% of Microchip Technology worth $31,233,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of MCHP. Garde Capital Inc. bought a new position in shares of Microchip Technology in the 1st quarter valued at about $30,000. WPG Advisers LLC bought a new position in shares of Microchip Technology in the 1st quarter valued at about $40,000. Orion Capital Management LLC bought a new position in shares of Microchip Technology in the 4th quarter valued at about $41,000. Byrne Asset Management LLC bought a new position in shares of Microchip Technology in the 1st quarter valued at about $41,000. Finally, GW&K Investment Management LLC boosted its stake in shares of Microchip Technology by 161.0% in the 1st quarter. GW&K Investment Management LLC now owns 937 shares of the semiconductor company's stock valued at $45,000 after purchasing an additional 578 shares during the last quarter. Institutional investors own 91.51% of the company's stock.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on MCHP shares. TD Cowen reduced their target price on shares of Microchip Technology from $75.00 to $60.00 and set a "hold" rating on the stock in a research note on Friday, August 8th. The Goldman Sachs Group began coverage on shares of Microchip Technology in a research note on Thursday, July 10th. They set a "buy" rating and a $88.00 price objective on the stock. Rosenblatt Securities lifted their price objective on shares of Microchip Technology from $63.00 to $70.00 and gave the stock a "buy" rating in a research note on Friday, May 30th. Wall Street Zen raised shares of Microchip Technology from a "sell" rating to a "hold" rating in a research note on Friday, June 27th. Finally, Piper Sandler lifted their price objective 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. One investment 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 stock. Based on data from MarketBeat, Microchip Technology has an average rating of "Moderate Buy" and an average price target of $76.58.

Microchip Technology Stock Performance

Shares of MCHP stock opened at $64.76 on Wednesday. The company has a debt-to-equity ratio of 0.80, a quick ratio of 1.33 and a current ratio of 2.31. The company has a market capitalization of $34.95 billion, a P/E ratio of -190.47, a price-to-earnings-growth ratio of 1.87 and a beta of 1.56. The company's 50 day moving average price is $68.58 and its two-hundred day moving average price is $59.56. Microchip Technology Incorporated has a 52 week low of $34.13 and a 52 week high of $81.64.

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

Microchip Technology Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, September 5th. Investors of record on Friday, August 22nd were issued 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 payout ratio is presently -535.29%.

Insiders Place Their Bets

In related news, CFO James Eric Bjornholt sold 7,356 shares of the business's stock in a transaction 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 directly owned 30,010 shares in the company, valued at approximately $2,062,287.20. The trade was a 19.69% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Matthew W. Chapman sold 10,000 shares of the company's stock in a transaction dated Monday, August 25th. The shares were sold at an average price of $68.25, for a total transaction of $682,500.00. Following the completion of the transaction, the director owned 30,665 shares in the company, valued at approximately $2,092,886.25. This trade represents a 24.59% decrease in their position. The disclosure for this sale can be found here. 1.94% of the stock is currently owned by insiders.

Microchip Technology 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.

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 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.