Platinum Investment Management Ltd. Buys Shares of 9,296 Microchip Technology Incorporated $MCHP

Platinum Investment Management Ltd. bought a new stake in Microchip Technology Incorporated (NASDAQ:MCHP) during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 9,296 shares of the semiconductor company’s stock, valued at approximately $654,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Parsons Capital Management Inc. RI purchased a new position in Microchip Technology in the second quarter valued at about $280,000. Liberty Capital Management Inc. purchased a new position in Microchip Technology in the second quarter valued at about $285,000. Broadway Wealth Solutions Inc. boosted its stake in Microchip Technology by 4.7% in the second quarter. Broadway Wealth Solutions Inc. now owns 7,388 shares of the semiconductor company’s stock valued at $520,000 after acquiring an additional 333 shares during the last quarter. One Wealth Advisors LLC boosted its stake in Microchip Technology by 19.8% in the second quarter. One Wealth Advisors LLC now owns 4,983 shares of the semiconductor company’s stock valued at $351,000 after acquiring an additional 824 shares during the last quarter. Finally, Capital Investment Advisors LLC purchased a new position in Microchip Technology in the second quarter valued at about $313,000. 91.51% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on MCHP. UBS Group boosted their target price on shares of Microchip Technology from $65.00 to $85.00 and gave the company a “buy” rating in a research note on Monday, July 7th. Truist Financial boosted their price target on shares of Microchip Technology from $52.00 to $64.00 and gave the company a “hold” rating in a research report on Wednesday, June 18th. Mizuho boosted their price target on shares of Microchip Technology from $78.00 to $85.00 and gave the company an “outperform” rating in a research report on Tuesday, July 8th. Susquehanna boosted their price target 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. Finally, The Goldman Sachs Group initiated coverage on shares of Microchip Technology in a research report on Thursday, July 10th. They issued a “buy” rating and a $88.00 price target on the stock. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and seven have issued a Hold rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $75.75.

Insider Buying and Selling

In other news, Director Matthew W. Chapman sold 10,000 shares of the stock in a transaction 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 transaction, the director owned 30,665 shares of the company’s stock, valued at $2,092,886.25. This represents a 24.59% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CFO James Eric Bjornholt sold 7,356 shares of the stock in a transaction 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 completion of the transaction, the chief financial officer directly owned 30,010 shares in the company, valued at $2,062,287.20. The trade was a 19.69% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 1.94% of the company’s stock.

Microchip Technology Stock Performance

Microchip Technology stock opened at $64.11 on Thursday. The firm’s 50 day simple moving average is $65.76 and its 200 day simple moving average is $60.42. 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 market capitalization of $34.60 billion, a PE ratio of -188.56, a price-to-earnings-growth ratio of 1.84 and a beta of 1.55. Microchip Technology Incorporated has a 1-year low of $34.13 and a 1-year high of $79.53.

Microchip Technology (NASDAQ:MCHP) last posted its 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 business 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%. Microchip Technology’s revenue was down 13.3% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.53 EPS. Microchip Technology has set its Q2 2026 guidance at 0.340-0.370 EPS. As a group, analysts expect that Microchip Technology Incorporated will post 1.03 earnings per share for the current fiscal year.

Microchip Technology Announces Dividend

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

Microchip Technology Company 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.