Hennion & Walsh Asset Management Inc. Has $2.80 Million Stock Position in Microchip Technology Incorporated $MCHP

Hennion & Walsh Asset Management Inc. grew its holdings in shares of Microchip Technology Incorporated (NASDAQ:MCHP) by 73.1% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 30,734 shares of the semiconductor company’s stock after purchasing an additional 12,979 shares during the quarter. Hennion & Walsh Asset Management Inc.’s holdings in Microchip Technology were worth $2,803,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also modified their holdings of the company. Norges Bank acquired a new position in Microchip Technology during the fourth quarter worth $664,564,000. Barclays PLC raised its holdings in Microchip Technology by 66.5% during the fourth quarter. Barclays PLC now owns 13,996,883 shares of the semiconductor company’s stock valued at $891,881,000 after buying an additional 5,590,210 shares in the last quarter. Rafferty Asset Management LLC lifted its position in shares of Microchip Technology by 41.0% in the second quarter. Rafferty Asset Management LLC now owns 6,203,762 shares of the semiconductor company’s stock worth $436,559,000 after buying an additional 1,803,945 shares during the last quarter. Ameriprise Financial Inc. lifted its position in shares of Microchip Technology by 255.7% in the second quarter. Ameriprise Financial Inc. now owns 2,135,140 shares of the semiconductor company’s stock worth $150,271,000 after buying an additional 1,534,829 shares during the last quarter. Finally, Worldquant Millennium Advisors LLC bought a new stake in shares of Microchip Technology during the 2nd quarter worth about $101,359,000. Institutional investors and hedge funds own 91.51% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on the company. TD Cowen lowered their price objective on 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 reduced 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. Citigroup lowered their price target on Microchip Technology from $113.00 to $95.00 and set a “buy” rating on the stock in a report on Friday. Cantor Fitzgerald reissued an “overweight” rating and issued a $125.00 price target on shares of Microchip Technology in a research report on Monday, August 3rd. Finally, Barclays boosted their price objective 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. Three research analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and seven have given a Hold rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $98.85.

Insider Activity

In related 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 value of $292,560.00. Following the completion of the transaction, the director directly owned 17,665 shares in the company, valued at approximately $1,722,690.80. This represents a 14.52% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, COO Richard J. Simoncic sold 5,000 shares of the company’s stock in a transaction on Thursday, June 4th. The shares were sold at an average price of $97.52, for a total value of $487,600.00. Following the completion of 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 ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders have sold 26,750 shares of company stock worth $2,543,170. Company insiders own 1.79% of the company’s stock.

Microchip Technology Stock Down 3.9%

Shares of MCHP opened at $81.39 on Tuesday. The company has a 50-day simple moving average of $86.94 and a 200-day simple moving average of $81.41. The firm has a market capitalization of $44.20 billion, a P/E ratio of 121.48, a P/E/G ratio of 0.85 and a beta of 1.76. 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 52 week low of $48.52 and a 52 week high of $105.91.

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 the consensus estimate of $0.70 by $0.06. Microchip Technology had a net margin of 9.34% and a return on equity of 14.97%. The business had revenue of $1.48 billion during the quarter, compared to analysts’ expectations of $1.46 billion. During the same quarter last year, the company earned $0.27 earnings per share. The firm’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. On average, equities research analysts expect that Microchip Technology Incorporated will post 2.7 earnings per share for the current year.

Microchip Technology Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 9th. Stockholders 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 2.2%. The ex-dividend date of this dividend is Monday, August 24th. Microchip Technology’s dividend payout ratio (DPR) is presently 271.64%.

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.