Aberdeen Group plc Buys 15,238 Shares of Microchip Technology Incorporated $MCHP

Aberdeen Group plc lifted its holdings in Microchip Technology Incorporated (NASDAQ:MCHP) by 3.4% during the 2nd quarter, Holdings Channel reports. The fund owned 460,174 shares of the semiconductor company’s stock after acquiring an additional 15,238 shares during the quarter. Aberdeen Group plc’s holdings in Microchip Technology were worth $41,968,000 at the end of the most recent reporting period.

A number of other large investors have also bought and sold shares of the business. Resonant Capital Advisors LLC boosted its position in Microchip Technology by 0.9% during the 1st quarter. Resonant Capital Advisors LLC now owns 12,542 shares of the semiconductor company’s stock worth $810,000 after acquiring an additional 118 shares during the period. Apella Capital LLC grew its position in Microchip Technology by 4.8% in the 2nd quarter. Apella Capital LLC now owns 2,669 shares of the semiconductor company’s stock valued at $225,000 after buying an additional 122 shares in the last quarter. MCF Advisors LLC increased its stake in Microchip Technology by 25.8% during the 4th quarter. MCF Advisors LLC now owns 659 shares of the semiconductor company’s stock valued at $42,000 after buying an additional 135 shares during the period. Gagnon Securities LLC raised its position in shares of Microchip Technology by 0.5% during the 4th 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 in the last quarter. Finally, Evelyn Partners Investment Management LLP lifted its stake in shares of Microchip Technology by 1.5% in the 4th quarter. Evelyn Partners Investment Management LLP now owns 9,300 shares of the semiconductor company’s stock worth $593,000 after acquiring an additional 140 shares during the period. 91.51% of the stock is currently owned by institutional investors.

Microchip Technology Stock Up 1.9%

Shares of NASDAQ:MCHP opened at $79.17 on Friday. The company has a 50 day moving average price of $85.72 and a two-hundred day moving average price of $81.47. Microchip Technology Incorporated has a 52 week low of $48.52 and a 52 week high of $105.91. The company has a debt-to-equity ratio of 0.83, a quick ratio of 1.11 and a current ratio of 1.92. The company has a market capitalization of $42.99 billion, a PE ratio of 118.17, a PEG ratio of 0.61 and a beta of 1.76.

Microchip Technology (NASDAQ:MCHP) last announced its quarterly earnings data on Thursday, August 6th. The semiconductor company reported $0.76 EPS for the quarter, beating analysts’ consensus estimates of $0.70 by $0.06. The company had revenue of $1.48 billion during the quarter, compared to the consensus estimate of $1.46 billion. Microchip Technology had a net margin of 9.34% and a return on equity of 14.97%. The company’s quarterly revenue was up 38.0% on a year-over-year basis. During the same quarter last year, the firm posted $0.27 EPS. Microchip Technology has set its Q2 2027 guidance at 0.910-0.950 EPS. Analysts forecast that Microchip Technology Incorporated will post 2.81 earnings per share for the current year.

Microchip Technology Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, September 9th. Shareholders of record on Monday, August 24th will be given a dividend of $0.455 per share. The ex-dividend date of this dividend is Monday, August 24th. This represents a $1.82 dividend on an annualized basis and a yield of 2.3%. Microchip Technology’s dividend payout ratio is 271.64%.

Insiders Place Their Bets

In other news, Director Matthew W. Chapman sold 3,000 shares of the company’s stock in a transaction dated Thursday, May 28th. The shares were 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 represents a 14.52% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, 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 completion of the transaction, the chief financial officer directly owned 28,573 shares in the company, valued at approximately $2,596,428.51. The trade was 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. In the last ninety days, insiders sold 16,667 shares of company stock worth $1,580,580. Company insiders own 1.79% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the company. Wells Fargo & Company reduced their target price on Microchip Technology from $95.00 to $88.00 and set an “equal weight” rating for the company in a report on Monday, July 20th. Cantor Fitzgerald reiterated an “overweight” rating and set a $125.00 price objective on shares of Microchip Technology in a report on Monday, August 3rd. Truist Financial reduced their price objective on Microchip Technology from $105.00 to $90.00 and set a “hold” rating for the company in a research report on Friday, August 7th. TD Cowen lowered their target price on Microchip Technology from $105.00 to $90.00 and set a “hold” rating on the stock in a research note on Monday, July 13th. Finally, Weiss Ratings raised Microchip Technology from a “hold (c-)” rating to a “hold (c)” rating in a research report on Tuesday. Three analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and seven have assigned a Hold rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $98.85.

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.