Microchip Technology Incorporated $MCHP Shares Sold by E. Ohman J or Asset Management AB

E. Ohman J or Asset Management AB decreased its holdings in shares of Microchip Technology Incorporated (NASDAQ:MCHP) by 22.8% in the 2nd quarter, Holdings Channel reports. The firm owned 332,367 shares of the semiconductor company’s stock after selling 98,249 shares during the quarter. E. Ohman J or Asset Management AB’s holdings in Microchip Technology were worth $30,312,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently modified their holdings of the company. EFG International AG acquired a new stake in Microchip Technology during the fourth quarter worth about $29,000. Miller Capital Partners Inc. bought a new position in shares of Microchip Technology during the fourth quarter valued at approximately $29,000. Garton & Associates Financial Advisors LLC acquired a new stake in shares of Microchip Technology during the 4th quarter worth approximately $33,000. Reflection Asset Management bought a new stake in shares of Microchip Technology in the 4th quarter worth approximately $33,000. Finally, Caitong International Asset Management Co. Ltd boosted its position in Microchip Technology by 4,663.6% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 524 shares of the semiconductor company’s stock valued at $33,000 after purchasing an additional 513 shares during the period. 91.51% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Microchip Technology

In related news, Director Matthew W. Chapman sold 10,000 shares of Microchip Technology stock in a transaction on Friday, May 15th. The shares were sold at an average price of $95.48, for a total value of $954,800.00. Following the completion of the sale, the director owned 20,665 shares of the company’s stock, valued at approximately $1,973,094.20. The trade was a 32.61% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO James Eric Bjornholt sold 3,667 shares of the company’s stock in a transaction on Friday, May 22nd. The stock was sold at an average price of $90.87, for a total transaction of $333,220.29. Following the completion of the sale, the chief financial officer owned 28,573 shares of the company’s stock, valued at $2,596,428.51. This represents a 11.37% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 26,750 shares of company stock worth $2,543,170 in the last 90 days. 1.79% of the stock is owned by insiders.

Analysts Set New Price Targets

Several equities research analysts have weighed in on MCHP shares. Needham & Company LLC increased their target price on Microchip Technology from $84.00 to $120.00 and gave the stock a “buy” rating in a research report on Friday, May 8th. Citigroup reduced their price target on shares of Microchip Technology from $113.00 to $95.00 and set a “buy” rating for the company in a report on Friday. Wells Fargo & Company lowered their price target on shares of Microchip Technology from $95.00 to $88.00 and set an “equal weight” rating for the company in a research report on Monday, July 20th. TD Cowen dropped 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 Monday, July 13th. Finally, Zacks Research raised Microchip Technology from a “hold” rating to a “strong-buy” rating in a report on Tuesday, May 12th. Three analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and seven have issued a Hold rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $98.85.

Microchip Technology Trading Down 3.9%

Microchip Technology stock opened at $81.39 on Tuesday. Microchip Technology Incorporated has a 12 month low of $48.52 and a 12 month high of $105.91. The company has a quick ratio of 1.11, a current ratio of 1.92 and a debt-to-equity ratio of 0.83. The stock has a market cap 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’s fifty day simple moving average is $86.94 and its 200-day simple moving average is $81.41.

Microchip Technology (NASDAQ:MCHP) last announced 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 business had revenue of $1.48 billion during the quarter, compared to analyst estimates of $1.46 billion. Microchip Technology had a return on equity of 14.97% and a net margin of 9.34%.Microchip Technology’s quarterly revenue was up 38.0% compared to the same quarter last year. During the same period last year, the company earned $0.27 earnings per share. Microchip Technology has set its Q2 2027 guidance at 0.910-0.950 EPS. As a group, sell-side analysts forecast that Microchip Technology Incorporated will post 2.7 EPS for the current fiscal year.

Microchip Technology Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 9th. Shareholders of record on Monday, August 24th will be given a $0.455 dividend. This represents a $1.82 annualized dividend and a yield of 2.2%. The ex-dividend date of this dividend is Monday, August 24th. Microchip Technology’s payout ratio is currently 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.