Edgestream Partners L.P. Has $628,000 Position in Microchip Technology Incorporated $MCHP

Edgestream Partners L.P. cut its holdings in Microchip Technology Incorporated (NASDAQ:MCHP) by 69.6% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 9,720 shares of the semiconductor company’s stock after selling 22,215 shares during the period. Edgestream Partners L.P.’s holdings in Microchip Technology were worth $628,000 as of its most recent filing with the SEC.

Several other large investors have also made changes to their positions in the business. AQR Capital Management LLC boosted its stake in Microchip Technology by 51.3% during the 1st quarter. AQR Capital Management LLC now owns 17,201 shares of the semiconductor company’s stock valued at $827,000 after purchasing an additional 5,835 shares during the period. Geneos Wealth Management Inc. increased its position in Microchip Technology by 101.8% in the 1st quarter. Geneos Wealth Management Inc. now owns 1,221 shares of the semiconductor company’s stock worth $59,000 after buying an additional 616 shares during the period. Cresset Asset Management LLC increased its position in Microchip Technology by 5.4% in the 2nd quarter. Cresset Asset Management LLC now owns 11,433 shares of the semiconductor company’s stock worth $805,000 after buying an additional 589 shares during the period. AXA S.A. lifted its holdings in shares of Microchip Technology by 21.3% during the second quarter. AXA S.A. now owns 51,552 shares of the semiconductor company’s stock worth $3,628,000 after buying an additional 9,043 shares during the last quarter. Finally, Treasurer of the State of North Carolina lifted its holdings in shares of Microchip Technology by 1.6% during the second quarter. Treasurer of the State of North Carolina now owns 246,530 shares of the semiconductor company’s stock worth $17,348,000 after buying an additional 3,851 shares during the last quarter. Institutional investors and hedge funds own 91.51% of the company’s stock.

Insider Buying and Selling

In other Microchip Technology news, Director Matthew W. Chapman sold 10,000 shares of the firm’s stock in a transaction dated Friday, May 15th. The shares were sold at an average price of $95.48, for a total transaction of $954,800.00. Following the completion of the transaction, the director owned 20,665 shares in the company, valued at $1,973,094.20. This trade represents a 32.61% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, COO Richard J. Simoncic sold 5,000 shares of Microchip Technology stock in a transaction that occurred on Friday, May 22nd. The shares were sold at an average price of $93.44, for a total value of $467,200.00. Following the sale, the chief operating officer directly owned 135,508 shares in the company, valued at $12,661,867.52. The trade was a 3.56% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 26,750 shares of company stock valued at $2,543,170 over the last quarter. Corporate insiders own 1.79% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on the stock. TD Cowen lowered their price objective on shares of Microchip Technology from $105.00 to $90.00 and set a “hold” rating on the stock in a research note on Monday, July 13th. Citigroup upped their target price on shares of Microchip Technology from $91.00 to $113.00 and gave the company a “buy” rating in a research note on Friday, May 8th. Wells Fargo & Company reduced their price target on shares of Microchip Technology from $95.00 to $88.00 and set an “equal weight” rating for the company in a report on Monday, July 20th. Weiss Ratings lowered shares of Microchip Technology from a “hold (c)” rating to a “hold (c-)” rating in a research report on Friday, July 24th. Finally, JPMorgan Chase & Co. boosted their price objective on shares of Microchip Technology from $95.00 to $120.00 and gave the stock an “overweight” rating in a report on Friday, May 8th. Four research analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating and seven have issued a Hold rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $99.76.

Microchip Technology Stock Performance

MCHP opened at $80.67 on Wednesday. The stock’s 50 day simple moving average is $88.15 and its 200-day simple moving average is $81.26. The company has a current ratio of 2.09, a quick ratio of 1.18 and a debt-to-equity ratio of 0.85. The stock has a market cap of $43.80 billion, a PE ratio of 384.16, a P/E/G ratio of 0.76 and a beta of 1.76. Microchip Technology Incorporated has a 1 year low of $48.52 and a 1 year high of $105.91.

Microchip Technology (NASDAQ:MCHP) last announced its quarterly earnings data on Thursday, May 7th. The semiconductor company reported $0.57 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.50 by $0.07. The company had revenue of $1.31 billion during the quarter, compared to analysts’ expectations of $1.26 billion. Microchip Technology had a net margin of 4.88% and a return on equity of 10.87%. The business’s revenue was up 35.1% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.11 EPS. Microchip Technology has set its Q1 2027 guidance at 0.670-0.710 EPS. Sell-side analysts forecast that Microchip Technology Incorporated will post 2.7 EPS for the current year.

Microchip Technology Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, June 5th. Investors of record on Friday, May 22nd were given a $0.455 dividend. This represents a $1.82 annualized dividend and a yield of 2.3%. The ex-dividend date of this dividend was Friday, May 22nd. Microchip Technology’s dividend payout ratio is 866.67%.

Microchip Technology Profile

Microchip Technology Inc is a semiconductor company headquartered in Chandler, Arizona, that designs, develops and supplies a broad portfolio of embedded control and analog semiconductors. Its product lineup centers on microcontrollers (including the well-known PIC family), digital signal controllers and associated development tools and software, along with a range of mixed-signal and analog devices, nonvolatile memory, power management, timing, interface, wireless and security products. The company also provides integrated hardware and software solutions intended to simplify embedded design and accelerate time to market for OEMs and contract manufacturers.

Microchip’s products are used across a wide range of end markets, including automotive, industrial automation, consumer electronics, communications, aerospace and defense, and Internet of Things (IoT) applications.