Resona Asset Management Co. Ltd. Raises Stake in Microchip Technology Incorporated $MCHP

Resona Asset Management Co. Ltd. grew its stake in Microchip Technology Incorporated (NASDAQ:MCHP) by 7.5% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 176,879 shares of the semiconductor company’s stock after acquiring an additional 12,350 shares during the quarter. Resona Asset Management Co. Ltd.’s holdings in Microchip Technology were worth $12,450,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of the company. Orbis Allan Gray Ltd acquired a new stake in Microchip Technology during the first quarter worth about $369,612,000. Invesco Ltd. boosted its holdings in Microchip Technology by 63.0% in the 1st quarter. Invesco Ltd. now owns 16,707,031 shares of the semiconductor company’s stock valued at $808,787,000 after purchasing an additional 6,459,123 shares during the last quarter. Goldman Sachs Group Inc. boosted its holdings in Microchip Technology by 138.9% in the 1st quarter. Goldman Sachs Group Inc. now owns 8,834,550 shares of the semiconductor company’s stock valued at $427,681,000 after purchasing an additional 5,136,154 shares during the last quarter. Boston Partners grew its stake in shares of Microchip Technology by 35.3% in the 1st quarter. Boston Partners now owns 10,726,413 shares of the semiconductor company’s stock valued at $517,082,000 after buying an additional 2,795,650 shares during the period. Finally, Amundi increased its holdings in shares of Microchip Technology by 22.7% during the 1st quarter. Amundi now owns 10,013,285 shares of the semiconductor company’s stock worth $484,743,000 after buying an additional 1,849,866 shares during the last quarter. Institutional investors and hedge funds own 91.51% of the company’s stock.

Insider Buying and Selling at Microchip Technology

In other news, CFO James Eric Bjornholt sold 7,356 shares of the company’s stock in a transaction on Monday, August 25th. The stock was sold at an average price of $68.72, for a total transaction of $505,504.32. Following the sale, the chief financial officer owned 30,010 shares of the company’s stock, valued at approximately $2,062,287.20. This represents a 19.69% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Matthew W. Chapman sold 10,000 shares of the stock in a transaction on Monday, August 25th. The shares were sold at an average price of $68.25, for a total value of $682,500.00. Following the completion of the sale, the director owned 30,665 shares in the company, valued at approximately $2,092,886.25. The trade was a 24.59% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 1.94% of the company’s stock.

Analysts Set New Price Targets

Several brokerages recently weighed in on MCHP. Stifel Nicolaus lowered their price objective on Microchip Technology from $82.00 to $75.00 and set a “buy” rating for the company in a research report on Friday. Weiss Ratings reiterated a “sell (d+)” rating on shares of Microchip Technology in a report on Wednesday, October 8th. Zacks Research downgraded Microchip Technology from a “strong-buy” rating to a “hold” rating in a research report on Monday, August 18th. Morgan Stanley boosted their price objective on shares of Microchip Technology from $63.00 to $68.00 and gave the company an “equal weight” rating in a report on Tuesday. Finally, TD Cowen lowered their target price on shares of Microchip Technology from $65.00 to $60.00 and set a “hold” rating for the company in a research note on Friday. One research analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating, seven have assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $73.47.

Microchip Technology Price Performance

MCHP opened at $56.28 on Friday. The stock’s 50-day moving average price is $64.24 and its 200 day moving average price is $64.08. Microchip Technology Incorporated has a 12-month low of $34.13 and a 12-month high of $77.20. The firm has a market cap of $30.37 billion, a price-to-earnings ratio of -165.53, a PEG ratio of 1.79 and a beta of 1.57. The company has a current ratio of 2.31, a quick ratio of 1.33 and a debt-to-equity ratio of 0.80.

Microchip Technology (NASDAQ:MCHP) last issued its quarterly earnings results on Thursday, November 6th. The semiconductor company reported $0.35 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.33 by $0.02. Microchip Technology had a negative net margin of 3.50% and a positive return on equity of 6.24%. The company had revenue of $1.14 billion for the quarter, compared to analyst estimates of $1.13 billion. During the same period in the prior year, the firm earned $0.46 earnings per share. The business’s revenue for the quarter was down 2.0% compared to the same quarter last year. Microchip Technology has set its Q3 2026 guidance at 0.340-0.400 EPS. As a group, sell-side analysts expect that Microchip Technology Incorporated will post 1.03 earnings per share for the current year.

Microchip Technology Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 9th. Shareholders of record on Monday, November 24th will be given a $0.455 dividend. This represents a $1.82 annualized dividend and a yield of 3.2%. The ex-dividend date of this dividend is Monday, November 24th. Microchip Technology’s dividend payout ratio (DPR) is currently -535.29%.

Microchip Technology 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.