Wolverine Asset Management LLC Raises Holdings in Microchip Technology Incorporated $MCHP

Wolverine Asset Management LLC increased its stake in shares of Microchip Technology Incorporated (NASDAQ:MCHP) by 42.1% during the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 82,738 shares of the semiconductor company’s stock after purchasing an additional 24,522 shares during the quarter. Wolverine Asset Management LLC’s holdings in Microchip Technology were worth $5,822,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of the business. Pinnacle Associates Ltd. grew its position in Microchip Technology by 1.3% during the 2nd quarter. Pinnacle Associates Ltd. now owns 61,860 shares of the semiconductor company’s stock worth $4,353,000 after purchasing an additional 806 shares during the last quarter. Strs Ohio raised its stake in shares of Microchip Technology by 170.1% during the 2nd quarter. Strs Ohio now owns 229,615 shares of the semiconductor company’s stock worth $16,158,000 after buying an additional 144,615 shares during the period. Savvy Advisors Inc. purchased a new stake in shares of Microchip Technology during the second quarter worth about $388,000. Hantz Financial Services Inc. lifted its position in shares of Microchip Technology by 24.3% in the second quarter. Hantz Financial Services Inc. now owns 7,816 shares of the semiconductor company’s stock valued at $550,000 after acquiring an additional 1,527 shares in the last quarter. Finally, Arkadios Wealth Advisors raised its position in shares of Microchip Technology by 191.9% in the second quarter. Arkadios Wealth Advisors now owns 15,563 shares of the semiconductor company’s stock valued at $1,095,000 after buying an additional 10,232 shares during the last quarter. Institutional investors own 91.51% of the company’s stock.

Insider Buying and Selling

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

Analysts Set New Price Targets

A number of brokerages recently issued reports on MCHP. The Goldman Sachs Group initiated coverage on shares of Microchip Technology in a report on Thursday, July 10th. They issued a “buy” rating and a $88.00 price objective for the company. Susquehanna upped their target price on shares of Microchip Technology from $60.00 to $90.00 and gave the company a “positive” rating in a research report on Tuesday, July 22nd. Piper Sandler increased their target price on Microchip Technology from $65.00 to $80.00 and gave the stock an “overweight” rating in a research note on Friday, August 8th. UBS Group lifted their target price on Microchip Technology from $65.00 to $85.00 and gave the company a “buy” rating in a research report on Monday, July 7th. Finally, KeyCorp increased their price target on shares of Microchip Technology from $70.00 to $85.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 8th. One research analyst has rated the stock with a Strong Buy rating, thirteen have assigned 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.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $75.75.

Microchip Technology Stock Down 0.8%

Shares of NASDAQ:MCHP opened at $62.07 on Friday. Microchip Technology Incorporated has a twelve month low of $34.13 and a twelve month high of $77.20. The company has a market capitalization of $33.50 billion, a PE ratio of -182.56, a P/E/G ratio of 1.79 and a beta of 1.55. The company has a current ratio of 2.31, a quick ratio of 1.33 and a debt-to-equity ratio of 0.80. The firm has a 50 day simple moving average of $65.07 and a 200-day simple moving average of $63.19.

Microchip Technology (NASDAQ:MCHP) last issued its quarterly earnings results on Thursday, August 7th. The semiconductor company reported $0.27 earnings per share for the quarter, topping analysts’ consensus estimates of $0.24 by $0.03. The firm had revenue of $1.08 billion during the quarter, compared to analysts’ expectations 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% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.53 EPS. Microchip Technology has set its Q2 2026 guidance at 0.340-0.370 EPS. On average, equities analysts predict that Microchip Technology Incorporated will post 1.03 EPS for the current fiscal year.

Microchip Technology Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 5th. Stockholders of record on Friday, August 22nd were issued a dividend of $0.455 per share. The ex-dividend date was Friday, August 22nd. This represents a $1.82 annualized dividend and a dividend yield of 2.9%. Microchip Technology’s dividend payout ratio (DPR) is -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.