Assetmark Inc. Lowers Position in Microchip Technology Incorporated $MCHP

Assetmark Inc. reduced its stake in Microchip Technology Incorporated (NASDAQ:MCHP) by 64.0% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 9,629 shares of the semiconductor company’s stock after selling 17,142 shares during the period. Assetmark Inc.’s holdings in Microchip Technology were worth $678,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of MCHP. Mizuho Markets Cayman LP purchased a new position in Microchip Technology in the second quarter valued at approximately $107,584,000. Argonautica Private Wealth Management Inc. purchased a new position in shares of Microchip Technology in the 1st quarter valued at $428,000. Charles Schwab Investment Management Inc. grew its position in shares of Microchip Technology by 3.9% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 3,266,402 shares of the semiconductor company’s stock valued at $158,127,000 after buying an additional 122,633 shares during the last quarter. Victory Capital Management Inc. raised its stake in Microchip Technology by 18.2% during the 1st quarter. Victory Capital Management Inc. now owns 602,783 shares of the semiconductor company’s stock worth $29,181,000 after acquiring an additional 92,962 shares in the last quarter. Finally, T. Rowe Price Investment Management Inc. lifted its position in Microchip Technology by 0.9% in the first quarter. T. Rowe Price Investment Management Inc. now owns 16,630,574 shares of the semiconductor company’s stock valued at $805,087,000 after acquiring an additional 152,434 shares during the last quarter. Institutional investors and hedge funds own 91.51% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on MCHP shares. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Microchip Technology in a report on Wednesday, October 8th. Piper Sandler raised their price target on Microchip Technology from $65.00 to $80.00 and gave the stock an “overweight” rating in a research note on Friday, August 8th. The Goldman Sachs Group began coverage on Microchip Technology in a research report on Thursday, July 10th. They set a “buy” rating and a $88.00 price target on the stock. Morgan Stanley increased their price objective on Microchip Technology from $63.00 to $68.00 and gave the company an “equal weight” rating in a report on Tuesday. Finally, Raymond James Financial raised their target price on shares of Microchip Technology from $65.00 to $75.00 and gave the stock a “strong-buy” rating in a research report on Friday, August 8th. One equities research analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating, seven have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $75.95.

Insider Buying and Selling

In other Microchip Technology news, CFO James Eric Bjornholt sold 7,356 shares of the business’s stock in a transaction that occurred on 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 owned 30,010 shares in the company, valued at approximately $2,062,287.20. The trade was a 19.69% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Matthew W. Chapman sold 10,000 shares of the firm’s stock in a transaction that occurred on Monday, August 25th. The shares were 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 of the company’s stock, valued at $2,092,886.25. This represents a 24.59% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 1.94% of the stock is currently owned by insiders.

Microchip Technology Price Performance

Microchip Technology stock opened at $59.35 on Friday. The company has a debt-to-equity ratio of 0.80, a current ratio of 2.31 and a quick ratio of 1.33. The business has a 50 day simple moving average of $64.42 and a 200-day simple moving average of $63.97. Microchip Technology Incorporated has a 12 month low of $34.13 and a 12 month high of $77.20. The stock has a market capitalization of $32.03 billion, a PE ratio of -174.56, a price-to-earnings-growth ratio of 1.79 and a beta of 1.57.

Microchip Technology (NASDAQ:MCHP) last announced its quarterly earnings data on Thursday, November 6th. The semiconductor company reported $0.35 EPS for the quarter, topping analysts’ consensus estimates of $0.33 by $0.02. The company had revenue of $1.14 billion during the quarter, compared to the consensus estimate of $1.13 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 2.0% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.46 EPS. Microchip Technology has set its Q3 2026 guidance at 0.340-0.400 EPS. Equities analysts predict that Microchip Technology Incorporated will post 1.03 earnings per share for the current year.

Microchip Technology Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 9th. Shareholders of record on Monday, November 24th will be issued a $0.455 dividend. This represents a $1.82 dividend on an annualized basis and a yield of 3.1%. The ex-dividend date of this dividend is Monday, November 24th. Microchip Technology’s payout ratio is currently -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.