Wolverine Asset Management LLC Purchases 24,522 Shares of Microchip Technology Incorporated $MCHP

Wolverine Asset Management LLC grew its holdings in shares of Microchip Technology Incorporated (NASDAQ:MCHP) by 42.1% in the 2nd quarter, Holdings Channel reports. The fund owned 82,738 shares of the semiconductor company’s stock after buying an additional 24,522 shares during the period. Wolverine Asset Management LLC’s holdings in Microchip Technology were worth $5,822,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Vanguard Group Inc. lifted its stake in shares of Microchip Technology by 0.6% in the first quarter. Vanguard Group Inc. now owns 69,302,614 shares of the semiconductor company’s stock worth $3,354,940,000 after acquiring an additional 390,269 shares during the period. Invesco Ltd. raised its holdings in shares of Microchip Technology by 63.0% in the 1st quarter. Invesco Ltd. now owns 16,707,031 shares of the semiconductor company’s stock worth $808,787,000 after acquiring an additional 6,459,123 shares during the last quarter. T. Rowe Price Investment Management Inc. boosted its holdings in Microchip Technology by 0.9% during the 1st quarter. T. Rowe Price Investment Management Inc. now owns 16,630,574 shares of the semiconductor company’s stock worth $805,087,000 after acquiring an additional 152,434 shares during the last quarter. Boston Partners increased its stake in Microchip Technology by 35.3% in the 1st quarter. Boston Partners now owns 10,726,413 shares of the semiconductor company’s stock valued at $517,082,000 after buying an additional 2,795,650 shares during the last quarter. Finally, Amundi grew its position in shares of Microchip Technology by 22.7% during the 1st quarter. Amundi now owns 10,013,285 shares of the semiconductor company’s stock valued at $484,743,000 after acquiring an additional 1,849,866 shares during the period. Institutional investors and hedge funds own 91.51% of the company’s stock.

Analyst Ratings Changes

A number of research firms recently weighed in on MCHP. Wells Fargo & Company began coverage on shares of Microchip Technology in a report on Monday, September 15th. They set an “equal weight” rating and a $60.00 target price on the stock. Susquehanna boosted their target price on Microchip Technology from $60.00 to $90.00 and gave the company a “positive” rating in a research note on Tuesday, July 22nd. Stifel Nicolaus increased their price objective on Microchip Technology from $70.00 to $82.00 and gave the stock a “buy” rating in a report on Friday, July 18th. The Goldman Sachs Group assumed coverage on shares of Microchip Technology in a research report on Thursday, July 10th. They set a “buy” rating and a $88.00 price target for the company. Finally, UBS Group increased their price objective on shares of Microchip Technology from $65.00 to $85.00 and gave the stock a “buy” rating in a research note on Monday, July 7th. One investment analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, seven have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, Microchip Technology has a consensus rating of “Moderate Buy” and an average price target of $75.75.

Insider Buying and Selling at Microchip Technology

In other news, Director Matthew W. Chapman sold 10,000 shares of the company’s stock in a transaction dated Monday, August 25th. The shares were sold at an average price of $68.25, for a total value of $682,500.00. Following the completion of the sale, the director directly owned 30,665 shares of the company’s stock, valued at approximately $2,092,886.25. This represents a 24.59% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO James Eric Bjornholt sold 7,356 shares of the firm’s stock in a transaction that occurred on Monday, August 25th. The shares were sold at an average price of $68.72, for a total value of $505,504.32. Following the completion of the sale, the chief financial officer directly owned 30,010 shares of the company’s stock, valued at $2,062,287.20. This represents a 19.69% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Corporate insiders own 1.94% of the company’s stock.

Microchip Technology Stock Down 0.8%

Shares of MCHP opened at $62.07 on Friday. The stock’s 50-day moving average price is $65.07 and its 200-day moving average price is $63.19. Microchip Technology Incorporated has a 52 week low of $34.13 and a 52 week high of $77.20. The company has a market capitalization of $33.50 billion, a price-to-earnings ratio of -182.56, a PEG ratio of 1.79 and a beta of 1.55. The company has a quick ratio of 1.33, a current ratio of 2.31 and a debt-to-equity ratio of 0.80.

Microchip Technology (NASDAQ:MCHP) last posted its quarterly earnings data on Thursday, August 7th. The semiconductor company reported $0.27 EPS for the quarter, beating the consensus estimate of $0.24 by $0.03. The firm had revenue of $1.08 billion during the quarter, compared to the consensus estimate of $1.05 billion. Microchip Technology had a positive return on equity of 6.24% and a negative net margin of 3.50%.The firm’s revenue was down 13.3% compared to the same quarter last year. During the same period in the prior year, the company earned $0.53 EPS. Microchip Technology has set its Q2 2026 guidance at 0.340-0.370 EPS. On average, sell-side analysts predict that Microchip Technology Incorporated will post 1.03 EPS for the current year.

Microchip Technology Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, September 5th. Investors of record on Friday, August 22nd were issued a $0.455 dividend. This represents a $1.82 dividend on an annualized basis and a yield of 2.9%. The ex-dividend date of this dividend was Friday, August 22nd. Microchip Technology’s dividend payout ratio is -535.29%.

Microchip Technology Company Profile

Microchip Technology Incorporated engages in the development, manufacture, and sale of smart, connected, and secure embedded control solutions in the Americas, Europe, and Asia. The company offers general purpose 8-bit, 16-bit, and 32-bit mixed-signal microcontrollers; 32-bit embedded mixed-signal microprocessors; and specialized microcontrollers for automotive, industrial, computing, communications, lighting, power supplies, motor control, human machine interface, security, wired connectivity, and wireless connectivity applications.