New York Life Investment Management LLC Raises Stock Position in Microchip Technology Incorporated $MCHP

New York Life Investment Management LLC lifted its stake in shares of Microchip Technology Incorporated (NASDAQ:MCHP) by 1.7% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 73,009 shares of the semiconductor company’s stock after buying an additional 1,212 shares during the quarter. New York Life Investment Management LLC’s holdings in Microchip Technology were worth $5,138,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. MCF Advisors LLC lifted its position in shares of Microchip Technology by 211.2% during the 2nd quarter. MCF Advisors LLC now owns 473 shares of the semiconductor company’s stock worth $33,000 after buying an additional 321 shares during the last quarter. Carderock Capital Management Inc. purchased a new stake in Microchip Technology in the 2nd quarter valued at $39,000. WPG Advisers LLC acquired a new stake in Microchip Technology during the 1st quarter worth $40,000. Painted Porch Advisors LLC acquired a new stake in Microchip Technology during the 2nd quarter worth $40,000. Finally, GW&K Investment Management LLC boosted its stake in Microchip Technology by 161.0% during the 1st quarter. GW&K Investment Management LLC now owns 937 shares of the semiconductor company’s stock worth $45,000 after purchasing an additional 578 shares during the period. Hedge funds and other institutional investors own 91.51% of the company’s stock.

Microchip Technology Stock Down 1.7%

Shares of Microchip Technology stock opened at $62.54 on Thursday. The company has a market cap of $33.75 billion, a P/E ratio of -183.94, a PEG ratio of 1.82 and a beta of 1.55. The company has a debt-to-equity ratio of 0.80, a quick ratio of 1.33 and a current ratio of 2.31. Microchip Technology Incorporated has a one year low of $34.13 and a one year high of $78.13. The firm has a fifty day moving average of $65.15 and a two-hundred day moving average of $63.20.

Microchip Technology (NASDAQ:MCHP) last announced its quarterly earnings data on Thursday, August 7th. The semiconductor company reported $0.27 EPS for the quarter, topping analysts’ consensus estimates of $0.24 by $0.03. The company had revenue of $1.08 billion during the quarter, compared to the consensus estimate of $1.05 billion. Microchip Technology had a negative net margin of 3.50% and a positive return on equity of 6.24%. Microchip Technology’s quarterly revenue was down 13.3% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.53 EPS. Microchip Technology has set its Q2 2026 guidance at 0.340-0.370 EPS. On average, analysts forecast that Microchip Technology Incorporated will post 1.03 earnings per share for the current year.

Microchip Technology Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, September 5th. Stockholders of record on Friday, August 22nd were paid a dividend of $0.455 per share. The ex-dividend date of this dividend was Friday, August 22nd. This represents a $1.82 dividend on an annualized basis and a dividend yield of 2.9%. Microchip Technology’s dividend payout ratio is -535.29%.

Insiders Place Their Bets

In other news, CFO James Eric Bjornholt sold 7,356 shares of the company’s stock in a transaction on Monday, August 25th. The shares were sold at an average price of $68.72, for a total transaction of $505,504.32. Following the transaction, the chief financial officer directly owned 30,010 shares of the company’s stock, valued at $2,062,287.20. This represents a 19.69% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Matthew W. Chapman sold 10,000 shares of the company’s stock in a transaction on Monday, August 25th. The stock was sold at an average price of $68.25, for a total transaction of $682,500.00. Following the transaction, the director directly owned 30,665 shares in the company, valued at approximately $2,092,886.25. This trade represents a 24.59% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Corporate insiders own 1.94% of the company’s stock.

Analyst Ratings Changes

A number of analysts recently weighed in on MCHP shares. Susquehanna increased their price target on shares of Microchip Technology from $60.00 to $90.00 and gave the stock a “positive” rating in a research note on Tuesday, July 22nd. Raymond James Financial increased their price target on shares of Microchip Technology from $65.00 to $75.00 and gave the stock a “strong-buy” rating in a research note on Friday, August 8th. Wells Fargo & Company started coverage on shares of Microchip Technology in a research note on Monday, September 15th. They set an “equal weight” rating and a $60.00 price target for the company. Weiss Ratings reiterated a “sell (d+)” rating on shares of Microchip Technology in a research note on Wednesday, October 8th. Finally, TD Cowen decreased their price target on shares of Microchip Technology from $75.00 to $60.00 and set a “hold” rating for the company in a research note on Friday, August 8th. One investment analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating, seven have issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, Microchip Technology has a consensus rating of “Moderate Buy” and an average price target of $75.75.

Microchip Technology Company Profile

Microchip Technology Incorporated engages in the development, manufacture, and sale of smart, connected, and secure embedded control solutions in the Americas, Europe, and Asia. The company offers general purpose 8-bit, 16-bit, and 32-bit mixed-signal microcontrollers; 32-bit embedded mixed-signal microprocessors; and specialized microcontrollers for automotive, industrial, computing, communications, lighting, power supplies, motor control, human machine interface, security, wired connectivity, and wireless connectivity applications.