Microchip Technology Incorporated $MCHP Stock: Park Avenue Securities LLC Trims Position

Park Avenue Securities LLC lowered its stake in shares of Microchip Technology Incorporated (NASDAQ:MCHP) by 31.1% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 15,473 shares of the semiconductor company’s stock after selling 6,969 shares during the period. Park Avenue Securities LLC’s holdings in Microchip Technology were worth $1,203,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Verdence Capital Advisors LLC raised its position in shares of Microchip Technology by 321.9% in the third quarter. Verdence Capital Advisors LLC now owns 19,833 shares of the semiconductor company’s stock valued at $1,542,000 after buying an additional 15,132 shares during the last quarter. Peterson Wealth Services boosted its position in Microchip Technology by 35.8% during the third quarter. Peterson Wealth Services now owns 4,832 shares of the semiconductor company’s stock worth $376,000 after acquiring an additional 1,274 shares during the last quarter. Broadway Wealth Solutions Inc. boosted its position in Microchip Technology by 11.6% during the third quarter. Broadway Wealth Solutions Inc. now owns 6,919 shares of the semiconductor company’s stock worth $538,000 after acquiring an additional 718 shares during the last quarter. Probity Advisors Inc. grew its stake in Microchip Technology by 1.6% in the 3rd quarter. Probity Advisors Inc. now owns 36,537 shares of the semiconductor company’s stock worth $2,842,000 after acquiring an additional 566 shares during the period. Finally, Signaturefd LLC grew its stake in Microchip Technology by 3.8% in the 3rd quarter. Signaturefd LLC now owns 10,921 shares of the semiconductor company’s stock worth $849,000 after acquiring an additional 397 shares during the period. Hedge funds and other institutional investors own 91.51% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on the company. Zacks Research downgraded Microchip Technology from a “strong-buy” rating to a “hold” rating in a research report on Monday, August 17th. TD Cowen lowered their price target on Microchip Technology from $90.00 to $75.00 and set a “hold” rating for the company in a report on Monday, October 19th. B. Riley Financial dropped their price objective on shares of Microchip Technology from $108.00 to $98.00 and set a “buy” rating for the company in a research note on Thursday, October 22nd. Truist Financial cut their price objective on shares of Microchip Technology from $105.00 to $90.00 and set a “hold” rating on the stock in a report on Friday, August 7th. Finally, Cantor Fitzgerald reissued an “overweight” rating on shares of Microchip Technology in a research report on Wednesday, September 9th. Three investment 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’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $97.71.

Microchip Technology Stock Performance

Shares of NASDAQ:MCHP opened at $76.11 on Tuesday. The business has a 50-day moving average of $75.26 and a two-hundred day moving average of $79.51. The firm has a market capitalization of $41.33 billion, a PE ratio of 113.60, a P/E/G ratio of 0.55 and a beta of 1.77. The company has a debt-to-equity ratio of 0.83, a current ratio of 1.92 and a quick ratio of 1.11. Microchip Technology Incorporated has a 12 month low of $48.52 and a 12 month high of $105.91.

Microchip Technology (NASDAQ:MCHP) last released its quarterly earnings data on Thursday, August 6th. The semiconductor company reported $0.76 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.70 by $0.06. The company 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%. Microchip Technology’s revenue for the quarter was up 38.0% on a year-over-year basis. During the same period in the previous year, the firm earned $0.27 earnings per share. Microchip Technology has set its Q2 2027 guidance at 0.910-0.950 EPS. As a group, research analysts forecast that Microchip Technology Incorporated will post 3.20 earnings per share for the current year.

Microchip Technology Announces Dividend

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

Insider Transactions at Microchip Technology

In other news, CFO James Bjornholt sold 4,112 shares of the business’s stock in a transaction on Tuesday, August 25th. The shares were sold at an average price of $75.32, for a total transaction of $309,715.84. Following the transaction, the chief financial officer directly owned 28,573 shares of the company’s stock, valued at approximately $2,152,118.36. The trade was a 12.58% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 1.79% of the stock is owned by company insiders.

Microchip Technology Company 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.