Microchip Technology Incorporated $MCHP Shares Sold by SVB Wealth LLC

SVB Wealth LLC lowered its position in Microchip Technology Incorporated (NASDAQ:MCHP) by 24.6% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 21,044 shares of the semiconductor company’s stock after selling 6,872 shares during the period. SVB Wealth LLC’s holdings in Microchip Technology were worth $1,919,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently bought and sold shares of the business. California State Teachers Retirement System increased its stake in shares of Microchip Technology by 9,307.4% in the second quarter. California State Teachers Retirement System now owns 74,723,990 shares of the semiconductor company’s stock worth $6,814,828,000 after acquiring an additional 73,929,678 shares during the period. Norges Bank acquired a new position in Microchip Technology during the fourth quarter valued at $664,564,000. Barrow Hanley Mewhinney & Strauss LLC acquired a new position in Microchip Technology during the second quarter valued at $537,423,000. Barclays PLC boosted its holdings in Microchip Technology by 66.5% in the fourth quarter. Barclays PLC now owns 13,996,883 shares of the semiconductor company’s stock valued at $891,881,000 after purchasing an additional 5,590,210 shares during the last quarter. Finally, Legal & General Group Plc purchased a new stake in Microchip Technology in the second quarter valued at $312,597,000. 91.51% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, CFO James Bjornholt sold 4,112 shares of the 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 transaction, the chief financial officer owned 28,573 shares in the company, valued at $2,152,118.36. This trade represents a 12.58% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 1.79% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of equities analysts have weighed in on MCHP shares. Rosenblatt Securities reiterated a “buy” rating and set a $120.00 price objective on shares of Microchip Technology in a research note on Friday, August 7th. Cantor Fitzgerald restated an “overweight” rating on shares of Microchip Technology in a research note on Wednesday. UBS Group reaffirmed a “buy” rating and set a $120.00 target price (down from $130.00) on shares of Microchip Technology in a report on Friday, August 7th. TD Cowen reduced their price target on Microchip Technology from $105.00 to $90.00 and set a “hold” rating for the company in a research report on Monday, July 13th. Finally, Truist Financial reduced their price target on Microchip Technology from $105.00 to $90.00 and set a “hold” rating for the company in a research report on Friday, August 7th. 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 a consensus rating of “Moderate Buy” and an average price target of $98.67.

Microchip Technology Trading Down 0.5%

Shares of Microchip Technology stock opened at $73.01 on Thursday. The firm has a 50-day simple moving average of $78.83 and a two-hundred day simple moving average of $81.11. The company has a market cap of $39.65 billion, a P/E ratio of 108.97, a price-to-earnings-growth ratio of 0.51 and a beta of 1.75. Microchip Technology Incorporated has a fifty-two week low of $48.52 and a fifty-two week high of $105.91. The company has a debt-to-equity ratio of 0.83, a quick ratio of 1.11 and a current ratio of 1.92.

Microchip Technology (NASDAQ:MCHP) last posted its earnings results on Thursday, August 6th. The semiconductor company reported $0.76 EPS for the quarter, beating analysts’ consensus estimates 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 analysts’ expectations of $1.46 billion. During the same period last year, the firm earned $0.27 EPS. The company’s quarterly revenue was up 38.0% on a year-over-year basis. Microchip Technology has set its Q2 2027 guidance at 0.910-0.950 EPS. As a group, equities analysts predict that Microchip Technology Incorporated will post 3.16 earnings per share for the current fiscal year.

Microchip Technology Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, September 9th. Stockholders of record on Monday, August 24th were paid a dividend of $0.455 per share. This represents a $1.82 annualized dividend and a dividend yield of 2.5%. The ex-dividend date of this dividend was Monday, August 24th. Microchip Technology’s dividend payout ratio is presently 271.64%.

Microchip Technology Company Profile

Microchip Technology Incorporated (NASDAQ: MCHP) develops and manufactures semiconductor products for embedded control and connected applications. Its portfolio includes microcontrollers, microprocessors, analog and mixed-signal devices, power-management products, timing and connectivity solutions, memory products, field-programmable gate arrays (FPGAs), and security components.

The company also provides development tools, software, reference designs, and technical support that help customers design and integrate embedded systems.