Atticus Wealth Management LLC Sells 17,973 Shares of Microchip Technology Incorporated $MCHP

Atticus Wealth Management LLC decreased its stake in Microchip Technology Incorporated (NASDAQ:MCHP) by 85.2% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 3,126 shares of the semiconductor company’s stock after selling 17,973 shares during the quarter. Atticus Wealth Management LLC’s holdings in Microchip Technology were worth $243,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. TOP Private Wealth LLC. purchased a new position in Microchip Technology in the 2nd quarter valued at about $29,000. Continuum Advisory LLC acquired a new position in shares of Microchip Technology during the second quarter valued at approximately $30,000. Johnson Financial Group Inc. acquired a new position in shares of Microchip Technology during the second quarter valued at approximately $31,000. Rakuten Securities Inc. acquired a new position in shares of Microchip Technology during the second quarter valued at approximately $34,000. Finally, GK Wealth Management LLC purchased a new position in shares of Microchip Technology in the third quarter valued at approximately $29,000. Hedge funds and other institutional investors own 91.51% of the company’s stock.

Insider Activity

In related news, CFO James Bjornholt sold 4,112 shares of the firm’s stock in a transaction dated Tuesday, August 25th. The shares were sold at an average price of $75.32, for a total transaction of $309,715.84. Following the completion of the sale, the chief financial officer directly 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 1.79% of the company’s stock.

Microchip Technology Price Performance

NASDAQ:MCHP opened at $75.85 on Wednesday. Microchip Technology Incorporated has a one year low of $48.52 and a one year high of $105.91. The stock has a market cap of $41.19 billion, a PE ratio of 113.21, a P/E/G ratio of 0.51 and a beta of 1.77. The company has a debt-to-equity ratio of 0.83, a quick ratio of 1.11 and a current ratio of 1.92. The stock has a 50 day moving average price of $75.30 and a 200 day moving average price of $82.74.

Microchip Technology (NASDAQ:MCHP) last released its quarterly earnings data on Thursday, August 6th. The semiconductor company reported $0.76 earnings per share 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 company had revenue of $1.48 billion for the quarter, compared to analyst estimates of $1.46 billion. During the same quarter in the previous year, the company posted $0.27 earnings per share. The firm’s revenue for the quarter was up 38.0% compared to the same quarter last year. Microchip Technology has set its Q2 2027 guidance at 0.910-0.950 EPS. Equities research analysts expect that Microchip Technology Incorporated will post 3.20 EPS for the current fiscal year.

Microchip Technology Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, September 9th. Investors of record on Monday, August 24th were issued a $0.4550 dividend. The ex-dividend date of this dividend was Monday, August 24th. This represents a $1.82 dividend on an annualized basis and a dividend yield of 2.4%. Microchip Technology’s dividend payout ratio is currently 271.64%.

Analyst Upgrades and Downgrades

MCHP has been the topic of a number of research analyst reports. Truist Financial lowered their price target on Microchip Technology from $105.00 to $90.00 and set a “hold” rating on the stock in a research note on Friday, August 7th. Zacks Research cut shares of Microchip Technology from a “strong-buy” rating to a “hold” rating in a research note on Monday, August 17th. BMO Capital Markets initiated coverage on shares of Microchip Technology in a research note on Friday, August 21st. They set an “outperform” rating and a $95.00 target price on the stock. TD Cowen dropped their target price on shares of Microchip Technology from $90.00 to $75.00 and set a “hold” rating for the company in a report on Monday. Finally, Weiss Ratings upgraded shares of Microchip Technology from a “hold (c-)” rating to a “hold (c)” rating in a research report on Tuesday, August 11th. Three equities research analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and eight have assigned a Hold rating to the company. Based on data from MarketBeat, Microchip Technology currently has a consensus rating of “Moderate Buy” and an average price target of $97.57.

Microchip Technology Profile

Microchip Technology Incorporated (NASDAQ:MCHP) develops and manufactures semiconductor products used in embedded control and connected electronic systems. Its portfolio includes microcontrollers, microprocessors, analog and power-management devices, memory products, timing and connectivity components, security solutions, and field-programmable gate arrays. The company also provides development tools, software, evaluation kits, and technical support to help customers design and produce electronic equipment.

Microchip’s products are used across a range of markets, including automotive, industrial, aerospace and defense, communications, consumer electronics, data centers, and medical applications.