Bleakley Financial Group LLC Raises Stake in Microchip Technology Incorporated $MCHP

Bleakley Financial Group LLC lifted its position in shares of Microchip Technology Incorporated (NASDAQ:MCHP) by 21.5% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 14,499 shares of the semiconductor company’s stock after buying an additional 2,564 shares during the quarter. Bleakley Financial Group LLC’s holdings in Microchip Technology were worth $1,020,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Oppenheimer Asset Management Inc. grew its holdings in shares of Microchip Technology by 35.8% during the first 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 in the last quarter. Argonautica Private Wealth Management Inc. purchased a new stake in Microchip Technology in the first quarter valued at approximately $428,000. Mirae Asset Global Investments Co. Ltd. grew its holdings in Microchip Technology by 9.6% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 937,682 shares of the semiconductor company’s stock valued at $45,665,000 after purchasing an additional 82,490 shares during the period. Charles Schwab Investment Management Inc. grew its holdings in Microchip Technology by 3.9% in the first quarter. Charles Schwab Investment Management Inc. now owns 3,266,402 shares of the semiconductor company’s stock valued at $158,127,000 after purchasing an additional 122,633 shares during the period. Finally, Victory Capital Management Inc. grew its holdings in Microchip Technology by 18.2% in the first quarter. Victory Capital Management Inc. now owns 602,783 shares of the semiconductor company’s stock valued at $29,181,000 after purchasing an additional 92,962 shares during the period. 91.51% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, Director Matthew W. Chapman sold 10,000 shares of the business’s stock in a transaction 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 of the company’s stock, valued at approximately $2,092,886.25. The trade was a 24.59% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO James Eric Bjornholt sold 7,356 shares of the business’s stock in a transaction on Monday, August 25th. The stock was 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 disclosure for this sale can be found here. Insiders own 1.94% of the company’s stock.

Microchip Technology Price Performance

MCHP opened at $63.17 on Friday. The company has a quick ratio of 1.33, a current ratio of 2.31 and a debt-to-equity ratio of 0.80. Microchip Technology Incorporated has a 52-week low of $34.13 and a 52-week high of $79.44. The company has a 50 day moving average of $65.28 and a two-hundred day moving average of $62.60. The company has a market cap of $34.09 billion, a P/E ratio of -185.79, a P/E/G ratio of 1.81 and a beta of 1.55.

Microchip Technology (NASDAQ:MCHP) last released its quarterly earnings data 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 negative net margin of 3.50% and a positive return on equity of 6.24%. The company had revenue of $1.08 billion during the quarter, compared to the consensus estimate of $1.05 billion. During the same period in the previous year, the firm earned $0.53 earnings per share. Microchip Technology’s revenue for the quarter 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 year.

Microchip Technology Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, September 5th. Stockholders 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 dividend yield of 2.9%. The ex-dividend date of this dividend was Friday, August 22nd. Microchip Technology’s payout ratio is presently -535.29%.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on MCHP. Needham & Company LLC boosted their target price on shares of Microchip Technology from $66.00 to $77.00 and gave the company a “buy” rating in a report on Friday, August 8th. The Goldman Sachs Group began coverage on shares of Microchip Technology in a report on Thursday, July 10th. They issued a “buy” rating and a $88.00 target price for the company. Zacks Research downgraded shares of Microchip Technology from a “strong-buy” rating to a “hold” rating in a report on Monday, August 18th. Wells Fargo & Company began coverage on shares of Microchip Technology in a report on Monday, September 15th. They issued an “equal weight” rating and a $60.00 target price for the company. Finally, UBS Group boosted their target price on shares of Microchip Technology from $65.00 to $85.00 and gave the company a “buy” rating in a report on Monday, July 7th. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating, seven have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $75.75.

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.