Talos Eurisko Asset Management LP Cuts Stake in Microchip Technology Incorporated $MCHP

Talos Eurisko Asset Management LP lessened its holdings in Microchip Technology Incorporated (NASDAQ:MCHP) by 23.7% during the third quarter, Holdings Channel.com reports. The firm owned 281,700 shares of the semiconductor company’s stock after selling 87,400 shares during the quarter. Microchip Technology accounts for 3.5% of Talos Eurisko Asset Management LP’s investment portfolio, making the stock its 12th largest holding. Talos Eurisko Asset Management LP’s holdings in Microchip Technology were worth $18,091,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in the business. Florida Trust Wealth Management Co boosted its position in Microchip Technology by 3.3% during the third quarter. Florida Trust Wealth Management Co now owns 4,890 shares of the semiconductor company’s stock valued at $314,000 after buying an additional 157 shares during the period. Clean Yield Group increased its holdings in shares of Microchip Technology by 9.4% in the third quarter. Clean Yield Group now owns 1,890 shares of the semiconductor company’s stock worth $121,000 after buying an additional 163 shares during the period. Slagle Financial LLC lifted its stake in shares of Microchip Technology by 0.3% in the 3rd quarter. Slagle Financial LLC now owns 64,485 shares of the semiconductor company’s stock valued at $4,141,000 after acquiring an additional 168 shares during the last quarter. Global Trust Asset Management LLC boosted its holdings in Microchip Technology by 2.4% during the 3rd quarter. Global Trust Asset Management LLC now owns 7,263 shares of the semiconductor company’s stock valued at $466,000 after acquiring an additional 169 shares during the period. Finally, Bollard Group LLC grew its position in Microchip Technology by 5.8% during the 2nd quarter. Bollard Group LLC now owns 3,178 shares of the semiconductor company’s stock worth $224,000 after acquiring an additional 173 shares during the last quarter. 91.51% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have commented on MCHP. Weiss Ratings raised Microchip Technology from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Friday, February 6th. Truist Financial lifted their target price on shares of Microchip Technology from $60.00 to $68.00 and gave the stock a “hold” rating in a research note on Friday, February 6th. Jefferies Financial Group reiterated a “hold” rating on shares of Microchip Technology in a report on Wednesday, February 4th. Piper Sandler increased their price target on shares of Microchip Technology from $80.00 to $85.00 and gave the company an “overweight” rating in a research report on Thursday, January 15th. Finally, Argus raised shares of Microchip Technology to a “strong-buy” rating in a report on Monday, February 9th. Three equities research analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and eight have given a Hold rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $86.00.

Microchip Technology Trading Down 2.1%

NASDAQ:MCHP opened at $69.90 on Thursday. Microchip Technology Incorporated has a 12 month low of $34.13 and a 12 month high of $83.35. The company has a current ratio of 2.16, a quick ratio of 1.16 and a debt-to-equity ratio of 0.82. The company has a 50-day moving average price of $74.18 and a 200-day moving average price of $66.71. The stock has a market cap of $37.83 billion, a price-to-earnings ratio of -241.03, a P/E/G ratio of 1.80 and a beta of 1.45.

Microchip Technology (NASDAQ:MCHP) last released its quarterly earnings results on Thursday, February 5th. The semiconductor company reported $0.44 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.43 by $0.01. Microchip Technology had a negative net margin of 1.57% and a positive return on equity of 7.16%. The company had revenue of $1.19 billion during the quarter, compared to the consensus estimate of $1.19 billion. During the same period in the prior year, the firm earned $0.20 earnings per share. Microchip Technology’s revenue was up 15.6% on a year-over-year basis. Microchip Technology has set its Q4 2026 guidance at 0.480-0.520 EPS. Equities analysts predict that Microchip Technology Incorporated will post 1.03 EPS for the current year.

Microchip Technology Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, March 10th. Investors of record on Monday, February 23rd will be paid a $0.455 dividend. This represents a $1.82 annualized dividend and a yield of 2.6%. The ex-dividend date of this dividend is Monday, February 23rd. Microchip Technology’s dividend payout ratio is presently -627.59%.

Insider Transactions at Microchip Technology

In other Microchip Technology news, CEO Steve Sanghi sold 98,814 shares of the stock in a transaction on Wednesday, January 28th. The stock was sold at an average price of $80.55, for a total value of $7,959,467.70. Following the completion of the transaction, the chief executive officer owned 9,922,319 shares in the company, valued at approximately $799,242,795.45. This represents a 0.99% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 1.94% of the company’s stock.

About Microchip Technology

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.