Microchip Technology Incorporated $MCHP Shares Sold by Principal Financial Group Inc.

Principal Financial Group Inc. trimmed its holdings in shares of Microchip Technology Incorporated (NASDAQ:MCHP) by 2.9% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 590,466 shares of the semiconductor company’s stock after selling 17,516 shares during the period. Principal Financial Group Inc. owned 0.11% of Microchip Technology worth $53,850,000 as of its most recent filing with the Securities and Exchange Commission.

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

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on MCHP. Zacks Research raised Microchip Technology from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, May 12th. TD Cowen lowered their price target 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. Wells Fargo & Company dropped their target price on Microchip Technology from $95.00 to $88.00 and set an “equal weight” rating for the company in a report on Monday, July 20th. Weiss Ratings upgraded shares of Microchip Technology from a “hold (c-)” rating to a “hold (c)” rating in a research report on Tuesday. Finally, Barclays increased their target price on Microchip Technology from $80.00 to $105.00 and gave the stock an “equal weight” rating in a report on Monday, May 11th. Three investment 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 stock. According to MarketBeat.com, Microchip Technology presently has a consensus rating of “Moderate Buy” and a consensus price target of $98.85.

Insider Activity at Microchip Technology

In related news, CFO James Eric Bjornholt sold 3,667 shares of the business’s stock in a transaction that occurred on Friday, May 22nd. The stock was sold at an average price of $90.87, for a total value of $333,220.29. Following the completion of the sale, the chief financial officer directly owned 28,573 shares in the company, valued at approximately $2,596,428.51. The trade was a 11.37% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Matthew W. Chapman sold 3,000 shares of the stock in a transaction that occurred on Thursday, May 28th. The stock was sold at an average price of $97.52, for a total value of $292,560.00. Following the sale, the director directly owned 17,665 shares in the company, valued at $1,722,690.80. This represents a 14.52% decrease in their position. The SEC filing for this sale provides additional information. Over the last three months, insiders have sold 16,667 shares of company stock worth $1,580,580. Corporate insiders own 1.79% of the company’s stock.

Microchip Technology Price Performance

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

Microchip Technology (NASDAQ:MCHP) last released its earnings results on Thursday, August 6th. The semiconductor company reported $0.76 earnings per share for the quarter, beating analysts’ consensus estimates of $0.70 by $0.06. The business had revenue of $1.48 billion during the quarter, compared to the consensus estimate of $1.46 billion. Microchip Technology had a net margin of 9.34% and a return on equity of 14.97%. The firm’s revenue for the quarter was up 38.0% compared to the same quarter last year. During the same quarter last year, the firm earned $0.27 earnings per share. Microchip Technology has set its Q2 2027 guidance at 0.910-0.950 EPS. Research analysts predict that Microchip Technology Incorporated will post 2.81 earnings per share for the current fiscal year.

Microchip Technology Announces Dividend

The company also recently disclosed 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. This represents a $1.82 dividend on an annualized basis and a 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%.

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.