Callan Family Office LLC acquired a new stake in shares of Microchip Technology Incorporated (NASDAQ:MCHP – Free Report) in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 106,442 shares of the semiconductor company’s stock, valued at approximately $9,707,000.
Several other large investors have also recently made changes to their positions in MCHP. Norges Bank purchased a new stake in shares of Microchip Technology in the fourth quarter worth about $664,564,000. Barclays PLC grew its holdings in Microchip Technology by 66.5% during the 4th quarter. Barclays PLC now owns 13,996,883 shares of the semiconductor company’s stock valued at $891,881,000 after buying an additional 5,590,210 shares in the last quarter. Rafferty Asset Management LLC grew its holdings in Microchip Technology by 41.0% during the 2nd quarter. Rafferty Asset Management LLC now owns 6,203,762 shares of the semiconductor company’s stock valued at $436,559,000 after buying an additional 1,803,945 shares in the last quarter. Ameriprise Financial Inc. increased its stake in Microchip Technology by 255.7% in the 2nd quarter. Ameriprise Financial Inc. now owns 2,135,140 shares of the semiconductor company’s stock worth $150,271,000 after acquiring an additional 1,534,829 shares during the last quarter. Finally, Worldquant Millennium Advisors LLC purchased a new stake in shares of Microchip Technology during the 2nd quarter worth approximately $101,359,000. 91.51% of the stock is owned by institutional investors.
Analysts Set New Price Targets
A number of research analysts have recently commented on MCHP shares. Wall Street Zen upgraded Microchip Technology from a “hold” rating to a “buy” rating in a research report on Saturday, May 9th. Rosenblatt Securities restated a “buy” rating and issued a $120.00 price target on shares of Microchip Technology in a research report on Friday, August 7th. Wells Fargo & Company decreased their price target on shares of Microchip Technology from $95.00 to $88.00 and set an “equal weight” rating on the stock in a research note on Monday, July 20th. Zacks Research lowered shares of Microchip Technology from a “strong-buy” rating to a “hold” rating in a research report on Monday, August 17th. Finally, Susquehanna lifted their price objective on shares of Microchip Technology from $95.00 to $120.00 and gave the stock a “positive” rating in a research note on Friday, May 8th. Two research analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and eight have given a Hold rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $98.67.
Microchip Technology Price Performance
MCHP stock opened at $76.08 on Friday. The stock has a market cap of $41.31 billion, a PE ratio of 113.55, a P/E/G ratio of 0.53 and a beta of 1.76. Microchip Technology Incorporated has a 12 month low of $48.52 and a 12 month high of $105.91. The company has a 50-day moving average price of $84.29 and a 200 day moving average price of $81.49. The company has a current ratio of 1.92, a quick ratio of 1.11 and a debt-to-equity ratio of 0.83.
Microchip Technology (NASDAQ:MCHP – Get Free Report) last posted its quarterly earnings data on Thursday, August 6th. The semiconductor company reported $0.76 earnings per share for the quarter, topping analysts’ consensus estimates of $0.70 by $0.06. Microchip Technology had a net margin of 9.34% and a return on equity of 14.97%. The company had revenue of $1.48 billion for the quarter, compared to analyst estimates of $1.46 billion. During the same period in the prior year, the company posted $0.27 EPS. The firm’s revenue for the quarter was up 38.0% on a year-over-year basis. Microchip Technology has set its Q2 2027 guidance at 0.910-0.950 EPS. Equities research analysts anticipate that Microchip Technology Incorporated will post 3.16 earnings per share for the current year.
Microchip Technology Dividend Announcement
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 9th. Investors of record on Monday, August 24th will be issued a dividend of $0.455 per share. The ex-dividend date is Monday, August 24th. This represents a $1.82 dividend on an annualized basis and a yield of 2.4%. Microchip Technology’s payout ratio is presently 271.64%.
Insider Buying and Selling at Microchip Technology
In other Microchip Technology news, CFO James Eric Bjornholt sold 837 shares of the company’s stock in a transaction on Monday, August 17th. The stock was sold at an average price of $80.26, for a total value of $67,177.62. Following the transaction, the chief financial officer owned 30,960 shares of the company’s stock, valued at $2,484,849.60. This represents a 2.63% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Matthew W. Chapman sold 3,000 shares of the stock in a transaction on Thursday, May 28th. The stock was sold at an average price of $97.52, for a total value of $292,560.00. Following the completion of the sale, the director owned 17,665 shares in the company, valued at approximately $1,722,690.80. The trade was a 14.52% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 8,837 shares of company stock valued at $847,338 in the last quarter. 1.79% of the stock is owned by insiders.
About Microchip Technology
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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