Microchip Technology Incorporated $MCHP Shares Sold by E. Ohman J or Asset Management AB

E. Ohman J or Asset Management AB lowered its stake in Microchip Technology Incorporated (NASDAQ:MCHP) by 13.3% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 288,167 shares of the semiconductor company’s stock after selling 44,200 shares during the quarter. E. Ohman J or Asset Management AB’s holdings in Microchip Technology were worth $22,411,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. Resonant Capital Advisors LLC increased its position in Microchip Technology by 0.9% in the first quarter. Resonant Capital Advisors LLC now owns 12,542 shares of the semiconductor company’s stock worth $810,000 after buying an additional 118 shares in the last quarter. Apella Capital LLC lifted its position in Microchip Technology by 4.8% during the second quarter. Apella Capital LLC now owns 2,669 shares of the semiconductor company’s stock valued at $225,000 after purchasing an additional 122 shares during the last quarter. Bridgewater Advisors Inc. increased its position in Microchip Technology by 4.2% during the second quarter. Bridgewater Advisors Inc. now owns 3,331 shares of the semiconductor company’s stock valued at $304,000 after acquiring an additional 133 shares during the last quarter. Total Wealth Planning & Management Inc. lifted its position in shares of Microchip Technology by 3.5% during the second quarter. Total Wealth Planning & Management Inc. now owns 4,225 shares of the semiconductor company’s stock worth $385,000 after purchasing an additional 141 shares during the last quarter. Finally, Texas Capital Bank Wealth Management Services Inc grew its holdings in Microchip Technology by 2.0% during the 2nd quarter. Texas Capital Bank Wealth Management Services Inc now owns 7,513 shares of the semiconductor company’s stock worth $685,000 after acquiring an additional 144 shares in the last quarter. 91.51% of the stock is currently owned by institutional investors.

Microchip Technology Trading Down 3.4%

Shares of MCHP stock opened at $74.52 on Friday. The firm has a 50-day moving average price of $75.19 and a 200 day moving average price of $82.88. The company has a current ratio of 1.92, a quick ratio of 1.11 and a debt-to-equity ratio of 0.83. The company has a market capitalization of $40.47 billion, a price-to-earnings ratio of 111.23, a PEG ratio of 0.53 and a beta of 1.77. Microchip Technology Incorporated has a twelve month low of $48.52 and a twelve month high of $105.91.

Microchip Technology (NASDAQ:MCHP) last released its earnings results on Thursday, August 6th. The semiconductor company reported $0.76 earnings per share for the quarter, topping the consensus estimate of $0.70 by $0.06. Microchip Technology had a return on equity of 14.97% and a net margin of 9.34%. The firm had revenue of $1.48 billion for the quarter, compared to the consensus estimate of $1.46 billion. During the same period in the prior year, the business posted $0.27 earnings per share. The firm’s revenue for the quarter was up 38.0% compared to the same quarter last year. Microchip Technology has set its Q2 2027 guidance at 0.910-0.950 EPS. Research analysts forecast that Microchip Technology Incorporated will post 3.20 earnings per share for the current fiscal year.

Microchip Technology Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, September 9th. Investors of record on Monday, August 24th were issued a $0.4550 dividend. The ex-dividend date of this dividend was Monday, August 24th. This represents a $1.82 annualized dividend and a dividend yield of 2.4%. Microchip Technology’s dividend payout ratio (DPR) is 271.64%.

Insider Buying and Selling at Microchip Technology

In other news, CFO James Bjornholt sold 4,112 shares of the stock in a transaction on Tuesday, August 25th. The stock was sold at an average price of $75.32, for a total value of $309,715.84. Following the completion of the transaction, the chief financial officer owned 28,573 shares of the company’s stock, valued at approximately $2,152,118.36. This represents a 12.58% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 1.79% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have recently issued reports on MCHP. BMO Capital Markets initiated coverage on Microchip Technology in a research note on Friday, August 21st. They issued an “outperform” rating and a $95.00 price objective for the company. Citigroup decreased their target price on shares of Microchip Technology from $113.00 to $95.00 and set a “buy” rating on the stock in a research report on Friday, August 7th. Zacks Research cut Microchip Technology from a “strong-buy” rating to a “hold” rating in a research note on Monday, August 17th. TD Cowen cut their price target on shares of Microchip Technology from $90.00 to $75.00 and set a “hold” rating on the stock in a research note on Monday. Finally, Rosenblatt Securities restated a “buy” rating and set a $120.00 price objective on shares of Microchip Technology in a research report on Friday, August 7th. Three equities research analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and eight have given a Hold rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $97.71.

Microchip Technology Company Profile

Microchip Technology Incorporated (NASDAQ:MCHP) develops and manufactures semiconductor products used in embedded control and connected electronic systems. Its portfolio includes microcontrollers, microprocessors, analog and power-management devices, memory products, timing and connectivity components, security solutions, and field-programmable gate arrays. The company also provides development tools, software, evaluation kits, and technical support to help customers design and produce electronic equipment.

Microchip’s products are used across a range of markets, including automotive, industrial, aerospace and defense, communications, consumer electronics, data centers, and medical applications.