Microchip Technology Incorporated $MCHP Stock Position Cut by Perpetual Ltd

Perpetual Ltd reduced its position in shares of Microchip Technology Incorporated (NASDAQ:MCHP) by 6.7% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 259,959 shares of the semiconductor company’s stock after selling 18,587 shares during the period. Perpetual Ltd’s holdings in Microchip Technology were worth $20,217,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of MCHP. Barrow Hanley Mewhinney & Strauss LLC acquired a new stake in Microchip Technology in the 2nd quarter valued at about $537,423,000. Legal & General Group Plc acquired a new position in shares of Microchip Technology during the 2nd quarter worth approximately $312,597,000. Van ECK Associates Corp boosted its holdings in shares of Microchip Technology by 18.3% during the 2nd quarter. Van ECK Associates Corp now owns 8,224,808 shares of the semiconductor company’s stock worth $750,102,000 after purchasing an additional 1,272,838 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in shares of Microchip Technology by 23.5% during the 2nd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 5,060,528 shares of the semiconductor company’s stock worth $461,520,000 after purchasing an additional 962,362 shares during the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund grew its position in shares of Microchip Technology by 52.8% in the first quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 2,601,121 shares of the semiconductor company’s stock valued at $168,058,000 after purchasing an additional 898,503 shares in the last quarter. 91.51% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research firms recently commented on MCHP. Zacks Research cut Microchip Technology from a “strong-buy” rating to a “hold” rating in a report on Monday, August 17th. 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 research note on Monday, July 13th. BMO Capital Markets started coverage on Microchip Technology in a research note on Friday, August 21st. They set an “outperform” rating and a $95.00 price objective on the stock. UBS Group restated a “buy” rating and issued a $120.00 target price (down from $130.00) on shares of Microchip Technology in a report on Friday, August 7th. Finally, Rosenblatt Securities reaffirmed a “buy” rating and issued a $120.00 target price on shares of Microchip Technology in a research note on Friday, August 7th. Three investment analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating and eight have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $98.67.

Microchip Technology Stock Performance

NASDAQ:MCHP opened at $73.83 on Tuesday. The company has a debt-to-equity ratio of 0.83, a current ratio of 1.92 and a quick ratio of 1.11. The firm has a market capitalization of $40.09 billion, a price-to-earnings ratio of 110.20, a PEG ratio of 0.53 and a beta of 1.77. The company’s 50-day moving average is $76.02 and its two-hundred day moving average is $82.30. Microchip Technology Incorporated has a 1-year low of $48.52 and a 1-year high of $105.91.

Microchip Technology (NASDAQ:MCHP) last announced its quarterly earnings results on Thursday, August 6th. The semiconductor company reported $0.76 earnings per share (EPS) for the quarter, topping 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 business’s revenue was up 38.0% compared to the same quarter last year. During the same quarter last year, the firm earned $0.27 EPS. Microchip Technology has set its Q2 2027 guidance at 0.910-0.950 EPS. Analysts forecast that Microchip Technology Incorporated will post 3.16 EPS for the current year.

Microchip Technology Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, September 9th. Investors of record on Monday, August 24th were given a $0.4550 dividend. This represents a $1.82 annualized dividend and a yield of 2.5%. The ex-dividend date was Monday, August 24th. Microchip Technology’s dividend payout ratio is presently 271.64%.

Insiders Place Their Bets

In related news, CFO James Bjornholt sold 4,112 shares of the stock in a transaction that occurred on Tuesday, August 25th. The stock was sold at an average price of $75.32, for a total value of $309,715.84. Following the completion of the transaction, the chief financial officer directly owned 28,573 shares in the company, valued at approximately $2,152,118.36. This represents a 12.58% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 1.79% of the company’s stock.

About Microchip Technology

Microchip Technology Inc is a semiconductor company that develops and manufactures embedded control solutions for automotive, industrial, aerospace and defense, communications, consumer, and computing applications. Its products are designed to help customers manage processing, connectivity, power, timing, security, and data storage within electronic systems.

The company’s product portfolio includes microcontrollers, microprocessors, analog and mixed-signal devices, power-management products, timing and synchronization solutions, memory products, connectivity components, and field-programmable gate arrays.