Susquehanna Advisors Group Inc. Invests $53.70 Million in Microchip Technology Incorporated $MCHP

Susquehanna Advisors Group Inc. bought a new stake in Microchip Technology Incorporated (NASDAQ:MCHPFree Report) in the 2nd quarter, Holdings Channel reports. The fund bought 700,000 shares of the semiconductor company’s stock, valued at approximately $53,697,000. Microchip Technology accounts for 0.9% of Susquehanna Advisors Group Inc.’s holdings, making the stock its 16th biggest position.

A number of other large investors have also added to or reduced their stakes in MCHP. Continuum Advisory LLC acquired a new stake in shares of Microchip Technology during the second quarter valued at about $30,000. Johnson Financial Group Inc. acquired a new position in shares of Microchip Technology in the second quarter worth about $31,000. Rakuten Securities Inc. acquired a new position in shares of Microchip Technology in the second quarter worth about $34,000. PenderFund Capital Management Ltd. purchased a new position in Microchip Technology in the second quarter valued at about $36,000. Finally, Hollencrest Capital Management purchased a new position in Microchip Technology in the second quarter valued at about $36,000. 91.51% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Microchip Technology

In related news, COO Richard J. Simoncic sold 5,000 shares of Microchip Technology stock in a transaction dated Thursday, June 4th. The shares were sold at an average price of $97.52, for a total value of $487,600.00. Following the sale, the chief operating officer directly owned 130,508 shares in the company, valued at $12,727,140.16. This trade represents a 3.69% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO James Eric Bjornholt sold 4,112 shares of the business’s stock in a transaction dated Tuesday, August 25th. The shares were sold at an average price of $75.32, for a total transaction of $309,715.84. Following the transaction, the chief financial officer directly owned 28,573 shares of the company’s stock, valued at $2,152,118.36. The trade was a 12.58% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders sold 9,949 shares of company stock worth $864,493. Corporate insiders own 1.79% of the company’s stock.

Microchip Technology Stock Performance

NASDAQ:MCHP opened at $72.93 on Monday. Microchip Technology Incorporated has a 12-month low of $48.52 and a 12-month high of $105.91. The firm has a market capitalization of $39.60 billion, a P/E ratio of 108.85, a P/E/G ratio of 0.51 and a beta of 1.76. The company has a debt-to-equity ratio of 0.83, a current ratio of 1.92 and a quick ratio of 1.11. The business has a 50 day simple moving average of $81.90 and a 200 day simple moving average of $81.42.

Microchip Technology (NASDAQ:MCHPGet Free Report) last issued its quarterly earnings data 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 firm had revenue of $1.48 billion during the quarter, compared to the consensus estimate of $1.46 billion. During the same period in the prior year, the business earned $0.27 EPS. The firm’s revenue 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 predict that Microchip Technology Incorporated will post 3.16 EPS for the current year.

Microchip Technology Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, September 9th. Stockholders of record on Monday, August 24th will be given a dividend of $0.455 per share. The ex-dividend date is Monday, August 24th. This represents a $1.82 annualized dividend and a dividend yield of 2.5%. Microchip Technology’s dividend payout ratio is currently 271.64%.

Analysts Set New Price Targets

A number of brokerages have weighed in on MCHP. Cantor Fitzgerald restated an “overweight” rating and set a $125.00 price objective on shares of Microchip Technology in a research note on Monday, August 17th. JPMorgan Chase & Co. upped their target price on Microchip Technology from $95.00 to $120.00 and gave the company an “overweight” rating in a research report on Friday, May 8th. UBS Group reiterated a “buy” rating and set a $120.00 target price (down from $130.00) on shares of Microchip Technology in a research note 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 for the company in a research report on Monday, July 20th. Finally, Wall Street Zen upgraded shares of Microchip Technology from a “hold” rating to a “buy” rating in a research note on Saturday, May 9th. Three analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and eight have given a Hold rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $98.67.

Get Our Latest Research Report on Microchip Technology

Microchip Technology Profile

(Free Report)

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.

See Also

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Institutional Ownership by Quarter for Microchip Technology (NASDAQ:MCHP)

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