J. Goldman & Co LP bought a new position in shares of Microchip Technology Incorporated (NASDAQ:MCHP – Free Report) during the second quarter, Holdings Channel reports. The fund bought 52,835 shares of the semiconductor company’s stock, valued at approximately $4,819,000.
Several other institutional investors and hedge funds also recently bought and sold shares of the company. Resonant Capital Advisors LLC lifted its holdings in Microchip Technology by 0.9% in the first quarter. Resonant Capital Advisors LLC now owns 12,542 shares of the semiconductor company’s stock valued at $810,000 after acquiring an additional 118 shares during the last quarter. Apella Capital LLC increased its position in shares of Microchip Technology by 4.8% during the 2nd quarter. Apella Capital LLC now owns 2,669 shares of the semiconductor company’s stock worth $225,000 after purchasing an additional 122 shares during the last quarter. Bridgewater Advisors Inc. raised its holdings in Microchip Technology by 4.2% in the 2nd quarter. Bridgewater Advisors Inc. now owns 3,331 shares of the semiconductor company’s stock valued at $304,000 after buying an additional 133 shares during the period. MCF Advisors LLC boosted its stake in Microchip Technology by 25.8% during the fourth quarter. MCF Advisors LLC now owns 659 shares of the semiconductor company’s stock worth $42,000 after buying an additional 135 shares during the period. Finally, Gagnon Securities LLC boosted its stake in Microchip Technology by 0.5% during the fourth quarter. Gagnon Securities LLC now owns 27,162 shares of the semiconductor company’s stock worth $1,731,000 after buying an additional 137 shares during the period. 91.51% of the stock is currently owned by institutional investors and hedge funds.
Analyst Upgrades and Downgrades
MCHP has been the topic of a number of research analyst reports. Wells Fargo & Company reduced 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. BMO Capital Markets began coverage on Microchip Technology in a research report on Friday, August 21st. They issued an “outperform” rating and a $95.00 target price on the stock. Citigroup decreased their price target on Microchip Technology from $113.00 to $95.00 and set a “buy” rating on the stock in a research note on Friday, August 7th. Needham & Company LLC boosted their price objective on Microchip Technology from $84.00 to $120.00 and gave the company a “buy” rating in a report on Friday, May 8th. Finally, JPMorgan Chase & Co. increased their target price on Microchip Technology from $95.00 to $120.00 and gave the stock an “overweight” rating in a research note on Friday, May 8th. Three research analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and eight have issued a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $98.67.
Insider Activity at Microchip Technology
In other Microchip Technology news, CFO James Eric Bjornholt sold 837 shares of the firm’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 sale, the chief financial officer directly owned 30,960 shares in the company, valued at $2,484,849.60. This trade represents a 2.63% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Matthew W. Chapman sold 3,000 shares of Microchip Technology stock in a transaction dated Thursday, May 28th. The stock was sold at an average price of $97.52, for a total value of $292,560.00. Following the sale, the director directly owned 17,665 shares of the company’s stock, valued at $1,722,690.80. This trade represents a 14.52% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 8,837 shares of company stock valued at $847,338 over the last quarter. 1.79% of the stock is owned by insiders.
Microchip Technology Price Performance
Microchip Technology stock opened at $73.50 on Wednesday. The firm has a market cap of $39.91 billion, a PE ratio of 109.70, a price-to-earnings-growth ratio of 0.52 and a beta of 1.76. The company’s 50 day moving average is $83.33 and its two-hundred day moving average is $81.46. Microchip Technology Incorporated has a 52-week low of $48.52 and a 52-week high of $105.91. The company has a quick ratio of 1.11, a current ratio of 1.92 and a debt-to-equity ratio of 0.83.
Microchip Technology (NASDAQ:MCHP – Get Free Report) last issued its earnings results on Thursday, August 6th. The semiconductor company reported $0.76 earnings per share for the quarter, beating the consensus estimate of $0.70 by $0.06. Microchip Technology had a net margin of 9.34% and a return on equity of 14.97%. The firm had revenue of $1.48 billion for the quarter, compared to analysts’ expectations of $1.46 billion. During the same quarter last year, the company 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, research analysts expect that Microchip Technology Incorporated will post 3.16 EPS for the current fiscal year.
Microchip Technology Announces Dividend
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 9th. Investors of record on Monday, August 24th will be issued a $0.455 dividend. This represents a $1.82 annualized dividend and a yield of 2.5%. The ex-dividend date of this dividend is Monday, August 24th. Microchip Technology’s dividend payout ratio is 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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