Commonwealth Retirement Investments LLC Sells 20,108 Shares of Microchip Technology Incorporated $MCHP

Commonwealth Retirement Investments LLC cut its holdings in Microchip Technology Incorporated (NASDAQ:MCHP) by 88.6% during the second quarter, Holdings Channel reports. The institutional investor owned 2,578 shares of the semiconductor company’s stock after selling 20,108 shares during the quarter. Commonwealth Retirement Investments LLC’s holdings in Microchip Technology were worth $235,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of MCHP. Wolverine Asset Management LLC grew its stake in shares of Microchip Technology by 3,833.7% in the 4th quarter. Wolverine Asset Management LLC now owns 37,921 shares of the semiconductor company’s stock worth $2,416,000 after buying an additional 36,957 shares during the last quarter. Vienna Powszechne Towarzystwo Emerytalne S.A. Vienna Insurance Group bought a new stake in Microchip Technology in the fourth quarter worth $6,691,000. Epoch Investment Partners Inc. grew its stake in shares of Microchip Technology by 16.5% in the fourth quarter. Epoch Investment Partners Inc. now owns 1,349,136 shares of the semiconductor company’s stock worth $85,967,000 after acquiring an additional 191,339 shares during the last quarter. Peregrine Investment Management Inc. purchased a new stake in shares of Microchip Technology in the first quarter worth $5,492,000. Finally, Norges Bank purchased a new position in shares of Microchip Technology in the 4th quarter worth about $664,564,000. 91.51% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Microchip Technology news, Director Matthew W. Chapman sold 3,000 shares of the stock in a transaction that occurred 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 transaction, the director directly owned 17,665 shares in the company, valued at approximately $1,722,690.80. This trade represents a 14.52% decrease in their ownership of the stock. 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 the business’s stock in a transaction on Friday, May 22nd. The shares were sold at an average price of $90.87, for a total transaction of $333,220.29. Following the sale, the chief financial officer directly owned 28,573 shares of the company’s stock, valued at approximately $2,596,428.51. The trade was a 11.37% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders have sold 16,667 shares of company stock valued at $1,580,580. 1.79% of the stock is owned by insiders.

Microchip Technology Price Performance

NASDAQ MCHP opened at $79.17 on Friday. The business’s fifty day moving average price is $85.72 and its 200-day moving average price is $81.47. The stock has a market capitalization of $42.99 billion, a price-to-earnings ratio of 118.17, a PEG ratio of 0.62 and a beta of 1.76. The company has a debt-to-equity ratio of 0.83, a current ratio of 1.92 and a quick ratio of 1.11. Microchip Technology Incorporated has a 1-year low of $48.52 and a 1-year high of $105.91.

Microchip Technology (NASDAQ:MCHP) last issued its quarterly earnings data on Thursday, August 6th. The semiconductor company reported $0.76 EPS 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 company had revenue of $1.48 billion during the quarter, compared to analyst estimates of $1.46 billion. During the same quarter in the previous year, the company posted $0.27 earnings per share. Microchip Technology’s revenue 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. On average, equities analysts predict that Microchip Technology Incorporated will post 2.81 earnings per share for the current year.

Microchip Technology Announces Dividend

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

Analyst Ratings Changes

Several analysts recently commented on MCHP shares. Weiss Ratings raised shares of Microchip Technology from a “hold (c-)” rating to a “hold (c)” rating in a research report on Tuesday. Wall Street Zen upgraded shares of Microchip Technology from a “hold” rating to a “buy” rating in a report on Saturday, May 9th. Citigroup decreased their price objective on shares of Microchip Technology from $113.00 to $95.00 and set a “buy” rating for the company in a report on Friday, August 7th. Wells Fargo & Company cut their target price on Microchip Technology from $95.00 to $88.00 and set an “equal weight” rating on the stock in a research note on Monday, July 20th. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and set a $125.00 price objective on shares of Microchip Technology in a research report on Monday, August 3rd. Three equities research analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and seven have assigned a Hold rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $98.85.

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.