Kentucky Farm Bureau Mutual Insurance Co purchased a new stake in Microchip Technology Incorporated (NASDAQ:MCHP – Free Report) during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm purchased 36,000 shares of the semiconductor company’s stock, valued at approximately $3,283,000.
Several other institutional investors and hedge funds also recently added to or reduced their stakes in MCHP. Addison Advisors LLC purchased a new stake in shares of Microchip Technology during the second quarter worth about $48,000. West Family Investments Inc. acquired a new stake in Microchip Technology in the 2nd quarter worth about $267,000. Knuff & Co LLC purchased a new stake in Microchip Technology during the 2nd quarter worth approximately $524,000. NewEdge Wealth LLC acquired a new position in shares of Microchip Technology during the second quarter valued at approximately $434,000. Finally, Danske Bank A S acquired a new position in shares of Microchip Technology during the second quarter valued at approximately $24,997,000. Hedge funds and other institutional investors own 91.51% of the company’s stock.
Insiders Place Their Bets
In other news, COO Richard J. Simoncic sold 5,000 shares of the stock in a transaction dated Thursday, June 4th. The shares were sold at an average price of $97.52, for a total transaction of $487,600.00. Following the sale, the chief operating officer owned 130,508 shares of the company’s stock, valued at approximately $12,727,140.16. This represents a 3.69% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Matthew W. Chapman sold 3,000 shares of Microchip Technology stock in a transaction that occurred on Thursday, May 28th. The shares were sold at an average price of $97.52, for a total transaction of $292,560.00. Following the completion of the transaction, the director owned 17,665 shares of the company’s stock, valued at $1,722,690.80. This trade represents a 14.52% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 17,504 shares of company stock worth $1,647,758 over the last three months. Company insiders own 1.79% of the company’s stock.
Analysts Set New Price Targets
Read Our Latest Report on Microchip Technology
Microchip Technology Stock Down 1.4%
Shares of MCHP opened at $77.08 on Thursday. The company’s 50-day moving average price is $85.02 and its 200 day moving average price is $81.53. Microchip Technology Incorporated has a 12-month low of $48.52 and a 12-month high of $105.91. The company has a current ratio of 1.92, a quick ratio of 1.11 and a debt-to-equity ratio of 0.83. The firm has a market cap of $41.86 billion, a P/E ratio of 115.05, a price-to-earnings-growth ratio of 0.54 and a beta of 1.76.
Microchip Technology (NASDAQ:MCHP – Get Free Report) last released its quarterly earnings results on Thursday, August 6th. The semiconductor company reported $0.76 EPS for the quarter, topping analysts’ consensus estimates of $0.70 by $0.06. Microchip Technology had a return on equity of 14.97% and a net margin of 9.34%.The company had revenue of $1.48 billion for the quarter, compared to analysts’ expectations of $1.46 billion. During the same period in the prior year, the firm earned $0.27 earnings per share. The firm’s revenue was up 38.0% compared to the same quarter last year. Microchip Technology has set its Q2 2027 guidance at 0.910-0.950 EPS. On average, sell-side analysts forecast that Microchip Technology Incorporated will post 3.16 earnings per share for the current year.
Microchip Technology Dividend Announcement
The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 9th. Shareholders of record on Monday, August 24th will be given a $0.455 dividend. This represents a $1.82 annualized dividend and a yield of 2.4%. The ex-dividend date of this dividend is Monday, August 24th. Microchip Technology’s payout ratio is currently 271.64%.
Microchip Technology Company Profile
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.
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