Van ECK Associates Corp Decreases Holdings in Microchip Technology Incorporated $MCHP

Van ECK Associates Corp decreased its stake in Microchip Technology Incorporated (NASDAQ:MCHP) by 7.2% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 742,999 shares of the semiconductor company’s stock after selling 57,426 shares during the period. Van ECK Associates Corp owned 0.14% of Microchip Technology worth $56,995,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Resonant Capital Advisors LLC increased its stake in shares of Microchip Technology by 0.9% during the 1st quarter. Resonant Capital Advisors LLC now owns 12,542 shares of the semiconductor company’s stock worth $810,000 after purchasing an additional 118 shares during the last quarter. Apella Capital LLC lifted its stake in Microchip Technology by 4.8% in 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. lifted its stake in Microchip Technology by 4.2% in the second quarter. Bridgewater Advisors Inc. now owns 3,331 shares of the semiconductor company’s stock valued at $304,000 after purchasing an additional 133 shares during the last quarter. MCF Advisors LLC grew its holdings in Microchip Technology by 25.8% during the fourth quarter. MCF Advisors LLC now owns 659 shares of the semiconductor company’s stock valued at $42,000 after purchasing an additional 135 shares during the period. Finally, Gagnon Securities LLC grew its holdings in Microchip Technology by 0.5% during the fourth quarter. Gagnon Securities LLC now owns 27,162 shares of the semiconductor company’s stock valued at $1,731,000 after purchasing an additional 137 shares during the period. 91.51% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In related news, COO Richard J. Simoncic sold 5,000 shares of the company’s stock in a transaction that occurred on Thursday, June 4th. The shares were sold at an average price of $97.52, for a total value of $487,600.00. Following the transaction, the chief operating officer directly owned 130,508 shares in the company, valued at approximately $12,727,140.16. This represents a 3.69% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO James Eric Bjornholt sold 4,112 shares of the company’s stock in a transaction that occurred on Tuesday, August 25th. The stock was sold at an average price of $75.32, for a total transaction of $309,715.84. Following the completion of the transaction, the chief financial officer owned 28,573 shares in the company, valued at approximately $2,152,118.36. This trade represents a 12.58% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders sold 9,949 shares of company stock worth $864,493. Insiders own 1.79% of the company’s stock.

Microchip Technology Stock Down 3.4%

MCHP opened at $72.93 on Friday. The company has a fifty day moving average price of $81.90 and a 200-day moving average price of $81.37. The firm has a market capitalization of $39.60 billion, a P/E ratio of 108.85, a price-to-earnings-growth ratio of 0.51 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 one year low of $48.52 and a one 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 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 firm’s revenue was up 38.0% compared to the same quarter last year. During the same quarter last year, the business posted $0.27 earnings per share. Microchip Technology has set its Q2 2027 guidance at 0.910-0.950 EPS. Equities research analysts expect that Microchip Technology Incorporated will post 3.16 earnings per share for the current fiscal year.

Microchip Technology Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, September 9th. Shareholders of record on Monday, August 24th will be issued a $0.455 dividend. The ex-dividend date of this dividend is Monday, August 24th. This represents a $1.82 annualized dividend and a dividend yield of 2.5%. Microchip Technology’s dividend payout ratio (DPR) is presently 271.64%.

Wall Street Analyst Weigh In

Several brokerages have issued reports on MCHP. Barclays boosted their target price on Microchip Technology from $80.00 to $105.00 and gave the company an “equal weight” rating in a research note on Monday, May 11th. Cantor Fitzgerald reissued an “overweight” rating and issued a $125.00 price objective on shares of Microchip Technology in a report on Monday, August 17th. Zacks Research cut Microchip Technology from a “strong-buy” rating to a “hold” rating in a research note on Monday, August 17th. TD Cowen dropped their price objective on shares of Microchip Technology from $105.00 to $90.00 and set a “hold” rating on the stock in a report on Monday, July 13th. Finally, Needham & Company LLC increased their target price on shares of Microchip Technology from $84.00 to $120.00 and gave the stock a “buy” rating in a research report on Friday, May 8th. Three research analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating and eight have given a Hold rating to the stock. According to data from MarketBeat, Microchip Technology currently has an average rating of “Moderate Buy” and an average target price of $98.67.

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.