Cetera Trust Company N.A Makes New $2.04 Million Investment in Microchip Technology Incorporated $MCHP

Cetera Trust Company N.A acquired a new position in Microchip Technology Incorporated (NASDAQ:MCHP) in the 2nd quarter, HoldingsChannel reports. The firm acquired 22,394 shares of the semiconductor company’s stock, valued at approximately $2,042,000. Microchip Technology accounts for about 1.0% of Cetera Trust Company N.A’s holdings, making the stock its 25th biggest position.

A number of other large investors also recently modified their holdings of MCHP. Wolverine Asset Management LLC boosted its holdings in 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 worth $2,416,000 after purchasing an additional 36,957 shares during the last quarter. Vienna Powszechne Towarzystwo Emerytalne S.A. Vienna Insurance Group purchased a new stake in Microchip Technology in the 4th quarter valued at about $6,691,000. Epoch Investment Partners Inc. lifted its position 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 worth $85,967,000 after buying an additional 191,339 shares in the last quarter. Peregrine Investment Management Inc. bought a new position in shares of Microchip Technology during the 1st quarter worth approximately $5,492,000. Finally, Norges Bank purchased a new position in shares of Microchip Technology in the 4th quarter worth approximately $664,564,000. Institutional investors own 91.51% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on MCHP shares. Citigroup reduced their target price on Microchip Technology from $113.00 to $95.00 and set a “buy” rating for the company in a report on Friday, August 7th. TD Cowen dropped their price target on Microchip Technology from $105.00 to $90.00 and set a “hold” rating on the stock in a report on Monday, July 13th. Zacks Research cut Microchip Technology from a “strong-buy” rating to a “hold” rating in a research report on Monday, August 17th. Weiss Ratings upgraded Microchip Technology from a “hold (c-)” rating to a “hold (c)” rating in a research note on Tuesday, August 11th. Finally, Truist Financial decreased their target price 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 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 stock. According to MarketBeat.com, Microchip Technology presently has a consensus rating of “Moderate Buy” and a consensus target price of $98.67.

Microchip Technology Stock Down 2.5%

Microchip Technology stock opened at $74.21 on Tuesday. The firm has a 50 day moving average price of $83.77 and a 200-day moving average price of $81.49. The company has a quick ratio of 1.11, a current ratio of 1.92 and a debt-to-equity ratio of 0.83. 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 $40.30 billion, a P/E ratio of 110.76, a P/E/G ratio of 0.53 and a beta of 1.76.

Microchip Technology (NASDAQ:MCHP) last posted its quarterly earnings results on Thursday, August 6th. The semiconductor company reported $0.76 EPS for the quarter, topping analysts’ consensus estimates of $0.70 by $0.06. Microchip Technology had a net margin of 9.34% and a return on equity of 14.97%. The company had revenue of $1.48 billion for the quarter, compared to analysts’ expectations of $1.46 billion. During the same quarter in the previous year, the firm posted $0.27 EPS. Microchip Technology’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, equities analysts predict that Microchip Technology Incorporated will post 3.16 EPS for the current year.

Microchip Technology Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 9th. Shareholders of record on Monday, August 24th will be paid a $0.455 dividend. The ex-dividend date is Monday, August 24th. This represents a $1.82 annualized dividend and a dividend yield of 2.5%. Microchip Technology’s payout ratio is presently 271.64%.

Insider Buying and Selling at Microchip Technology

In other news, Director Matthew W. Chapman sold 3,000 shares of the company’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 owned 17,665 shares of the company’s stock, valued at $1,722,690.80. This represents a 14.52% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Richard J. Simoncic sold 5,000 shares of the stock in a transaction on Thursday, June 4th. The stock was sold at an average price of $97.52, for a total value of $487,600.00. Following the transaction, the chief operating officer owned 130,508 shares of the company’s stock, valued at $12,727,140.16. The trade was a 3.69% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 8,837 shares of company stock worth $847,338 over the last ninety days. 1.79% of the stock is currently owned by company insiders.

Microchip Technology Company 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.