Microchip Technology Incorporated $MCHP Stake Cut by Leeward Investments LLC MA

Leeward Investments LLC MA cut its holdings in shares of Microchip Technology Incorporated (NASDAQ:MCHP) by 5.2% in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 212,764 shares of the semiconductor company’s stock after selling 11,645 shares during the quarter. Leeward Investments LLC MA’s holdings in Microchip Technology were worth $19,404,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Catalyst Financial Partners LLC acquired a new position in shares of Microchip Technology in the 2nd quarter valued at about $273,000. Beese Fulmer Investment Management Inc. acquired a new stake in shares of Microchip Technology during the second quarter worth approximately $311,000. Ethic Inc. acquired a new stake in shares of Microchip Technology during the second quarter worth approximately $5,740,000. Westfuller Advisors LLC acquired a new stake in shares of Microchip Technology during the second quarter worth approximately $83,000. Finally, Chesapeake Capital Corp IL purchased a new position in Microchip Technology during the second quarter valued at approximately $277,000. Hedge funds and other institutional investors own 91.51% of the company’s stock.

Insider Buying and Selling

In other Microchip Technology news, 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 completion of the transaction, the chief financial officer owned 28,573 shares of the company’s stock, valued at $2,596,428.51. The trade was a 11.37% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Matthew W. Chapman sold 3,000 shares of the business’s stock in a transaction on Thursday, May 28th. The stock was sold at an average price of $97.52, for a total transaction of $292,560.00. Following the transaction, the director directly owned 17,665 shares of the company’s stock, valued at approximately $1,722,690.80. This represents a 14.52% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders sold 16,667 shares of company stock valued at $1,580,580. Company insiders own 1.79% of the company’s stock.

Microchip Technology Stock Down 2.2%

Shares of MCHP stock opened at $77.69 on Friday. The stock’s 50 day simple moving average is $85.90 and its 200 day simple moving average is $81.49. 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 Incorporated has a twelve month low of $48.52 and a twelve month high of $105.91. The company has a market capitalization of $42.19 billion, a price-to-earnings ratio of 115.96, a PEG ratio of 0.62 and a beta of 1.76.

Microchip Technology (NASDAQ:MCHP) last announced its earnings results 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. 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 during the quarter, compared to analysts’ expectations of $1.46 billion. During the same quarter in the prior year, the business earned $0.27 earnings per share. The company’s 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, research analysts predict that Microchip Technology Incorporated will post 2.81 EPS for the current year.

Microchip Technology Dividend Announcement

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

Wall Street Analyst Weigh In

Several research firms have weighed in on MCHP. Truist Financial 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 research note on Friday, August 7th. Rosenblatt Securities restated a “buy” rating and set a $120.00 price target on shares of Microchip Technology in a report on Friday, August 7th. Barclays upped their price target on shares of Microchip Technology from $80.00 to $105.00 and gave the stock an “equal weight” rating in a research note on Monday, May 11th. JPMorgan Chase & Co. increased their price objective on Microchip Technology from $95.00 to $120.00 and gave the stock an “overweight” rating in a report on Friday, May 8th. Finally, Cantor Fitzgerald reissued 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. According to MarketBeat.com, Microchip Technology 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.