Resona Asset Management Co. Ltd. Trims Stock Position in Microchip Technology Incorporated $MCHP

Resona Asset Management Co. Ltd. lessened its stake in Microchip Technology Incorporated (NASDAQ:MCHP) by 7.0% in the 2nd quarter, HoldingsChannel.com reports. The fund owned 150,942 shares of the semiconductor company’s stock after selling 11,393 shares during the period. Resona Asset Management Co. Ltd.’s holdings in Microchip Technology were worth $13,699,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently made changes to their positions in MCHP. Harel Insurance Investments & Financial Services Ltd. acquired a new stake in shares of Microchip Technology during the second quarter worth about $10,611,000. Oregon Public Employees Retirement Fund lifted its holdings in shares of Microchip Technology by 7.4% in the 2nd quarter. Oregon Public Employees Retirement Fund now owns 66,486 shares of the semiconductor company’s stock valued at $6,064,000 after purchasing an additional 4,600 shares during the last quarter. Argonautica Private Wealth Management Inc. boosted its position in shares of Microchip Technology by 3.6% in the 2nd quarter. Argonautica Private Wealth Management Inc. now owns 6,000 shares of the semiconductor company’s stock valued at $547,000 after purchasing an additional 208 shares during the period. Atria Investments Inc boosted its position in shares of Microchip Technology by 9.7% in the 2nd quarter. Atria Investments Inc now owns 44,738 shares of the semiconductor company’s stock valued at $4,080,000 after purchasing an additional 3,939 shares during the period. Finally, Total Wealth Planning & Management Inc. grew its stake in Microchip Technology by 3.5% during the 2nd quarter. Total Wealth Planning & Management Inc. now owns 4,225 shares of the semiconductor company’s stock worth $385,000 after buying an additional 141 shares during the last quarter. Hedge funds and other institutional investors own 91.51% of the company’s stock.

Microchip Technology Stock Down 2.2%

MCHP opened at $77.69 on Friday. Microchip Technology Incorporated has a 52 week low of $48.52 and a 52 week high of $105.91. The business has a 50 day moving average price of $85.90 and a two-hundred day moving average price of $81.49. The company has a quick ratio of 1.11, a current ratio of 1.92 and a debt-to-equity ratio of 0.83. The company has a market cap of $42.19 billion, a PE ratio of 115.96, a P/E/G ratio of 0.62 and a beta of 1.76.

Microchip Technology (NASDAQ:MCHP) last announced its earnings results on Thursday, August 6th. The semiconductor company reported $0.76 earnings per share for the quarter, beating the consensus estimate of $0.70 by $0.06. The company had revenue of $1.48 billion for the quarter, compared to the consensus estimate of $1.46 billion. Microchip Technology had a return on equity of 14.97% and a net margin of 9.34%.The company’s revenue was up 38.0% on a year-over-year basis. During the same period last year, the business posted $0.27 EPS. Microchip Technology has set its Q2 2027 guidance at 0.910-0.950 EPS. As a group, research analysts anticipate that Microchip Technology Incorporated will post 2.81 EPS for the current year.

Microchip Technology Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 9th. Investors of record on Monday, August 24th will be given a $0.455 dividend. This represents a $1.82 dividend on an annualized basis and a yield of 2.3%. The ex-dividend date is Monday, August 24th. Microchip Technology’s dividend payout ratio (DPR) is 271.64%.

Analyst Ratings Changes

Several research firms have commented on MCHP. Weiss Ratings raised Microchip Technology from a “hold (c-)” rating to a “hold (c)” rating in a research report on Tuesday. Rosenblatt Securities restated a “buy” rating and set a $120.00 target price on shares of Microchip Technology in a research report on Friday, August 7th. Wall Street Zen upgraded shares of Microchip Technology from a “hold” rating to a “buy” rating in a research report on Saturday, May 9th. Wells Fargo & Company cut their target price on shares of Microchip Technology from $95.00 to $88.00 and set an “equal weight” rating on the stock in a report on Monday, July 20th. Finally, UBS Group reiterated a “buy” rating and issued a $120.00 price target (down from $130.00) on shares of Microchip Technology in a research report on Friday, August 7th. Three investment analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and seven have issued a Hold rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $98.85.

Insider Buying and Selling at Microchip Technology

In other news, Director Matthew W. Chapman sold 3,000 shares of the firm’s stock in a transaction on Thursday, May 28th. The shares were sold at an average price of $97.52, for a total value of $292,560.00. Following the completion of the sale, the director owned 17,665 shares in the company, valued at approximately $1,722,690.80. This trade represents a 14.52% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO James Eric Bjornholt sold 3,667 shares of Microchip Technology stock in a transaction dated Friday, May 22nd. The shares were sold at an average price of $90.87, for a total transaction of $333,220.29. Following the completion of the sale, the chief financial officer directly owned 28,573 shares in the company, valued at approximately $2,596,428.51. The trade was a 11.37% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders have sold 16,667 shares of company stock valued at $1,580,580. 1.79% of the stock is owned by company insiders.

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.