Wolverine Asset Management LLC Trims Stake in Microchip Technology Incorporated $MCHP

Wolverine Asset Management LLC cut its position in shares of Microchip Technology Incorporated (NASDAQ:MCHP) by 98.8% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 964 shares of the semiconductor company’s stock after selling 81,774 shares during the period. Wolverine Asset Management LLC’s holdings in Microchip Technology were worth $62,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also recently made changes to their positions in the company. Salomon & Ludwin LLC increased its position in Microchip Technology by 219.3% during the 3rd quarter. Salomon & Ludwin LLC now owns 479 shares of the semiconductor company’s stock valued at $32,000 after purchasing an additional 329 shares during the period. Quent Capital LLC bought a new position in Microchip Technology in the third quarter worth approximately $32,000. MCF Advisors LLC lifted its holdings in Microchip Technology by 211.2% during the second quarter. MCF Advisors LLC now owns 473 shares of the semiconductor company’s stock worth $33,000 after buying an additional 321 shares during the period. E Fund Management Hong Kong Co. Ltd. boosted its position in Microchip Technology by 106.8% during the 3rd quarter. E Fund Management Hong Kong Co. Ltd. now owns 517 shares of the semiconductor company’s stock valued at $33,000 after acquiring an additional 267 shares in the last quarter. Finally, Painted Porch Advisors LLC purchased a new position in shares of Microchip Technology in the 2nd quarter valued at $40,000. Hedge funds and other institutional investors own 91.51% of the company’s stock.

Microchip Technology Stock Up 0.3%

Microchip Technology stock opened at $74.70 on Monday. Microchip Technology Incorporated has a 52 week low of $34.13 and a 52 week high of $77.20. The firm has a market cap of $40.37 billion, a price-to-earnings ratio of -166.00, a price-to-earnings-growth ratio of 2.25 and a beta of 1.46. The business’s 50-day moving average price is $62.83 and its 200 day moving average price is $65.19. The company has a quick ratio of 1.20, a current ratio of 2.25 and a debt-to-equity ratio of 0.80.

Microchip Technology (NASDAQ:MCHP) last issued its quarterly earnings data on Thursday, November 6th. The semiconductor company reported $0.35 EPS for the quarter, topping analysts’ consensus estimates of $0.33 by $0.02. Microchip Technology had a negative net margin of 4.39% and a positive return on equity of 5.21%. The business had revenue of $1.14 billion for the quarter, compared to analysts’ expectations of $1.13 billion. During the same quarter last year, the company earned $0.46 EPS. The business’s revenue was down 2.0% on a year-over-year basis. Microchip Technology has set its Q3 2026 guidance at 0.340-0.400 EPS. As a group, sell-side analysts anticipate 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 Tuesday, December 9th. Stockholders of record on Monday, November 24th were paid a dividend of $0.455 per share. This represents a $1.82 annualized dividend and a dividend yield of 2.4%. The ex-dividend date of this dividend was Monday, November 24th. Microchip Technology’s dividend payout ratio is presently -404.44%.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on MCHP. Rosenblatt Securities restated a “buy” rating and set a $80.00 price objective on shares of Microchip Technology in a research note on Tuesday, January 6th. Needham & Company LLC increased their price objective on Microchip Technology from $75.00 to $77.00 and gave the company a “buy” rating in a report on Tuesday, January 6th. Piper Sandler raised their price objective on Microchip Technology from $80.00 to $85.00 and gave the stock an “overweight” rating in a research report on Thursday. Truist Financial reiterated a “hold” rating and issued a $60.00 price target (down from $64.00) on shares of Microchip Technology in a research note on Friday, November 7th. Finally, Bank of America boosted their price target on Microchip Technology from $67.00 to $72.00 and gave the stock a “neutral” rating in a research note on Friday, December 5th. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $79.38.

Insider Activity at Microchip Technology

In related news, CFO James Eric Bjornholt sold 4,292 shares of Microchip Technology stock in a transaction dated Tuesday, November 25th. The stock was sold at an average price of $50.39, for a total value of $216,273.88. Following the completion of the transaction, the chief financial officer owned 30,089 shares in the company, valued at $1,516,184.71. The trade was a 12.48% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 1.94% of the stock is owned by company insiders.

About Microchip Technology

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.