Microchip Technology Incorporated $MCHP Stock Holdings Lifted by Capstone Capital Management Ltd

Capstone Capital Management Ltd boosted its stake in Microchip Technology Incorporated (NASDAQ:MCHP) by 487.7% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 12,929 shares of the semiconductor company’s stock after acquiring an additional 10,729 shares during the quarter. Capstone Capital Management Ltd’s holdings in Microchip Technology were worth $1,005,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of MCHP. State Street Corp increased its holdings in Microchip Technology by 2.9% during the 2nd quarter. State Street Corp now owns 28,851,673 shares of the semiconductor company’s stock worth $2,631,273,000 after purchasing an additional 821,147 shares during the last quarter. Van ECK Associates Corp grew its stake in 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 buying an additional 1,272,838 shares during the last quarter. Artemis Wealth Advisors LLC acquired a new stake in shares of Microchip Technology in the 2nd quarter worth about $541,413,000. Barrow Hanley Mewhinney & Strauss LLC bought a new stake in shares of Microchip Technology during the second quarter valued at approximately $537,423,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in 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 valued at $461,520,000 after acquiring an additional 962,362 shares in the last quarter. 91.51% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on MCHP shares. Truist Financial reduced their price target on shares of Microchip Technology from $105.00 to $90.00 and set a “hold” rating for the company in a research note on Friday, August 7th. Cantor Fitzgerald reissued an “overweight” rating on shares of Microchip Technology in a research note on Wednesday, September 9th. BMO Capital Markets initiated coverage on shares of Microchip Technology in a report on Friday, August 21st. They set an “outperform” rating and a $95.00 price target for the company. Zacks Research downgraded shares of Microchip Technology from a “strong-buy” rating to a “hold” rating in a research report on Monday, August 17th. Finally, Wells Fargo & Company lowered their price objective on Microchip Technology from $88.00 to $80.00 and set an “equal weight” rating on the stock in a report on Tuesday. Three research analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and eight have given a Hold rating to the company. Based on data from MarketBeat.com, Microchip Technology currently has a consensus rating of “Moderate Buy” and an average price target of $97.57.

Microchip Technology Stock Up 1.9%

MCHP stock opened at $75.85 on Wednesday. Microchip Technology Incorporated has a twelve month low of $48.52 and a twelve 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 company has a market cap of $41.19 billion, a PE ratio of 45.38, a price-to-earnings-growth ratio of 0.51 and a beta of 1.77. The business’s 50-day simple moving average is $75.30 and its 200 day simple moving average is $82.74.

Microchip Technology (NASDAQ:MCHP) last announced its quarterly earnings data on Thursday, August 6th. The semiconductor company reported $0.76 EPS for the quarter, topping analysts’ consensus estimates of $0.70 by $0.06. Microchip Technology had a return on equity of 14.97% and a net margin of 9.34%. The company had revenue of $1.48 billion during the quarter, compared to the consensus estimate of $1.46 billion. During the same quarter last year, the company earned $0.27 EPS. The company’s quarterly 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, research analysts anticipate that Microchip Technology Incorporated will post 3.20 earnings per share for the current year.

Microchip Technology Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, September 9th. Investors of record on Monday, August 24th were paid a $0.4550 dividend. This represents a $1.82 dividend on an annualized basis and a dividend yield of 2.4%. The ex-dividend date was Monday, August 24th. Microchip Technology’s dividend payout ratio is presently 271.64%.

Insider Activity at Microchip Technology

In related news, CFO James Bjornholt sold 4,112 shares of the firm’s stock in a transaction 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 of the company’s stock, valued at $2,152,118.36. This trade represents a 12.58% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 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 Incorporated (NASDAQ:MCHP) develops and manufactures semiconductor products used in embedded control and connected electronic systems. Its portfolio includes microcontrollers, microprocessors, analog and power-management devices, memory products, timing and connectivity components, security solutions, and field-programmable gate arrays. The company also provides development tools, software, evaluation kits, and technical support to help customers design and produce electronic equipment.

Microchip’s products are used across a range of markets, including automotive, industrial, aerospace and defense, communications, consumer electronics, data centers, and medical applications.