OP Asset Management Ltd Purchases Shares of 53,075 Microchip Technology Incorporated $MCHP

OP Asset Management Ltd acquired a new position in Microchip Technology Incorporated (NASDAQ:MCHP) during the first quarter, HoldingsChannel reports. The institutional investor acquired 53,075 shares of the semiconductor company’s stock, valued at approximately $3,429,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of MCHP. EFG International AG purchased a new position in shares of Microchip Technology in the fourth quarter valued at $29,000. Miller Capital Partners Inc. purchased a new stake in Microchip Technology during the fourth quarter valued at $29,000. Reflection Asset Management bought a new position in Microchip Technology during the fourth quarter valued at $33,000. Garton & Associates Financial Advisors LLC bought a new position in Microchip Technology during the fourth quarter valued at $33,000. Finally, Caitong International Asset Management Co. Ltd grew its stake in shares of Microchip Technology by 4,663.6% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 524 shares of the semiconductor company’s stock worth $33,000 after buying an additional 513 shares in the last quarter. 91.51% of the stock is currently owned by institutional investors.

Insider Activity at Microchip Technology

In other news, Director Matthew W. Chapman sold 3,000 shares of the firm’s stock in a transaction on Thursday, May 28th. The stock was sold at an average price of $97.52, for a total transaction of $292,560.00. Following the transaction, the director owned 17,665 shares in the company, valued at approximately $1,722,690.80. This trade represents a 14.52% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CFO James Eric Bjornholt sold 3,667 shares of the firm’s stock in a transaction dated Friday, May 22nd. The shares were sold at an average price of $90.87, for a total transaction of $333,220.29. Following the transaction, the chief financial officer directly owned 28,573 shares in the company, valued at $2,596,428.51. This trade represents a 11.37% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders sold 553,302 shares of company stock worth $49,673,635. Insiders own 1.94% of the company’s stock.

Microchip Technology Stock Down 6.6%

NASDAQ:MCHP opened at $87.93 on Friday. The company has a market cap of $47.67 billion, a price-to-earnings ratio of 418.73, a price-to-earnings-growth ratio of 0.90 and a beta of 1.73. Microchip Technology Incorporated has a twelve month low of $48.52 and a twelve month high of $105.91. The company has a current ratio of 2.09, a quick ratio of 1.18 and a debt-to-equity ratio of 0.85. The stock has a fifty day simple moving average of $93.01 and a 200-day simple moving average of $78.37.

Microchip Technology (NASDAQ:MCHP) last posted its quarterly earnings results on Thursday, May 7th. The semiconductor company reported $0.57 EPS for the quarter, topping analysts’ consensus estimates of $0.50 by $0.07. The firm had revenue of $1.31 billion for the quarter, compared to analysts’ expectations of $1.26 billion. Microchip Technology had a net margin of 4.88% and a return on equity of 10.87%. The business’s revenue for the quarter was up 35.1% on a year-over-year basis. During the same period in the prior year, the business posted $0.11 earnings per share. Microchip Technology has set its Q1 2027 guidance at 0.670-0.710 EPS. Analysts anticipate that Microchip Technology Incorporated will post 2.66 EPS for the current year.

Microchip Technology Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, June 5th. Stockholders of record on Friday, May 22nd were given a dividend of $0.455 per share. The ex-dividend date of this dividend was Friday, May 22nd. This represents a $1.82 dividend on an annualized basis and a dividend yield of 2.1%. Microchip Technology’s dividend payout ratio (DPR) is 866.67%.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on MCHP. Wells Fargo & Company boosted their target price on shares of Microchip Technology from $75.00 to $95.00 and gave the stock an “equal weight” rating in a report on Friday, May 8th. Citigroup lifted their price target on Microchip Technology from $91.00 to $113.00 and gave the stock a “buy” rating in a research report on Friday, May 8th. Truist Financial boosted their price objective on Microchip Technology from $69.00 to $105.00 and gave the stock a “hold” rating in a research note on Friday, May 8th. Zacks Research upgraded Microchip Technology from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, May 12th. Finally, UBS Group reaffirmed a “buy” rating on shares of Microchip Technology in a research note on Tuesday, June 2nd. Four research analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and seven have issued a Hold rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $98.18.

Microchip Technology 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.