Logan Capital Management Inc. Cuts Position in Microchip Technology Incorporated $MCHP

Logan Capital Management Inc. lowered its holdings in Microchip Technology Incorporated (NASDAQ:MCHP) by 4.8% in the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 62,966 shares of the semiconductor company’s stock after selling 3,143 shares during the quarter. Logan Capital Management Inc.’s holdings in Microchip Technology were worth $4,431,000 as of its most recent filing with the SEC.

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

Analysts Set New Price Targets

MCHP has been the subject of several research analyst reports. Needham & Company LLC raised their price objective on Microchip Technology from $66.00 to $77.00 and gave the company a “buy” rating in a research note on Friday, August 8th. TD Cowen dropped their price target on Microchip Technology from $75.00 to $60.00 and set a “hold” rating for the company in a research report on Friday, August 8th. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Microchip Technology in a research note on Wednesday, October 8th. Stifel Nicolaus boosted their price objective on shares of Microchip Technology from $70.00 to $82.00 and gave the stock a “buy” rating in a research report on Friday, July 18th. Finally, Mizuho raised their target price on shares of Microchip Technology from $78.00 to $85.00 and gave the company an “outperform” rating in a report on Tuesday, July 8th. One research analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating, seven have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, Microchip Technology presently has a consensus rating of “Moderate Buy” and a consensus target price of $75.75.

Insiders Place Their Bets

In related news, CFO James Eric Bjornholt sold 7,356 shares of the stock in a transaction dated Monday, August 25th. The stock was sold at an average price of $68.72, for a total transaction of $505,504.32. Following the transaction, the chief financial officer directly owned 30,010 shares in the company, 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 filing with the SEC, which can be accessed through this hyperlink. Also, Director Matthew W. Chapman sold 10,000 shares of the firm’s stock in a transaction dated Monday, August 25th. The stock was sold at an average price of $68.25, for a total value of $682,500.00. Following the completion of the sale, the director directly 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. The disclosure for this sale can be found here. Corporate insiders own 1.94% of the company’s stock.

Microchip Technology Trading Up 2.2%

Microchip Technology stock opened at $64.55 on Tuesday. The stock has a 50-day moving average price of $65.26 and a 200 day moving average price of $62.86. Microchip Technology Incorporated has a 52 week low of $34.13 and a 52 week high of $79.44. The stock has a market cap of $34.84 billion, a PE ratio of -189.85, a P/E/G ratio of 1.81 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.

Microchip Technology (NASDAQ:MCHP) last released its earnings results on Thursday, August 7th. The semiconductor company reported $0.27 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.24 by $0.03. The company had revenue of $1.08 billion for the quarter, compared to analyst estimates of $1.05 billion. Microchip Technology had a negative net margin of 3.50% and a positive return on equity of 6.24%. The firm’s quarterly revenue was down 13.3% on a year-over-year basis. During the same period in the prior year, the firm earned $0.53 EPS. Microchip Technology has set its Q2 2026 guidance at 0.340-0.370 EPS. Equities research analysts predict that Microchip Technology Incorporated will post 1.03 earnings per share for the current fiscal year.

Microchip Technology Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, September 5th. Shareholders of record on Friday, August 22nd were issued a $0.455 dividend. The ex-dividend date was Friday, August 22nd. This represents a $1.82 annualized dividend and a yield of 2.8%. Microchip Technology’s payout ratio is -535.29%.

About Microchip Technology

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.