J.Safra Asset Management Corp Purchases New Holdings in Microchip Technology Incorporated $MCHP

J.Safra Asset Management Corp acquired a new position in shares of Microchip Technology Incorporated (NASDAQ:MCHP) during the 2nd quarter, according to its most recent 13F filing with the SEC. The fund acquired 6,829 shares of the semiconductor company’s stock, valued at approximately $623,000.

A number of other institutional investors also recently made changes to their positions in the business. Global Retirement Partners LLC acquired a new stake in shares of Microchip Technology during the second quarter worth approximately $1,238,000. Focus Partners Advisor Solutions LLC acquired a new stake in Microchip Technology in the second quarter valued at $315,000. GSA Capital Partners LLP bought a new position in Microchip Technology during the 2nd quarter valued at $292,000. Mitsubishi UFJ Trust & Banking Corp grew its holdings in Microchip Technology by 8.4% during the 2nd quarter. Mitsubishi UFJ Trust & Banking Corp now owns 258,456 shares of the semiconductor company’s stock worth $23,571,000 after acquiring an additional 20,040 shares in the last quarter. Finally, Meridian Wealth Management LLC bought a new stake in shares of Microchip Technology in the 2nd quarter worth about $564,000. 91.51% of the stock is owned by institutional investors and hedge funds.

Microchip Technology Stock Performance

Shares of NASDAQ MCHP opened at $79.17 on Monday. Microchip Technology Incorporated has a 12-month low of $48.52 and a 12-month high of $105.91. The company has a market cap of $42.99 billion, a PE ratio of 118.17, a P/E/G ratio of 0.62 and a beta of 1.76. The stock has a 50 day simple moving average of $85.72 and a 200-day simple moving average of $81.52. 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) last posted its quarterly earnings data on Thursday, August 6th. The semiconductor company reported $0.76 earnings per share for the quarter, topping the consensus estimate of $0.70 by $0.06. The business 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% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.27 earnings per share. Microchip Technology has set its Q2 2027 guidance at 0.910-0.950 EPS. On average, equities research analysts forecast that Microchip Technology Incorporated will post 2.81 EPS for the current year.

Microchip Technology Dividend Announcement

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 paid a dividend of $0.455 per share. The ex-dividend date of this dividend is Monday, August 24th. This represents a $1.82 annualized dividend and a yield of 2.3%. Microchip Technology’s dividend payout ratio is currently 271.64%.

Analysts Set New Price Targets

Several equities analysts have recently commented on the stock. Wall Street Zen raised shares of Microchip Technology from a “hold” rating to a “buy” rating in a research report on Saturday, May 9th. Truist Financial lowered their target price on shares of Microchip Technology from $105.00 to $90.00 and set a “hold” rating for the company in a research note on Friday, August 7th. Rosenblatt Securities reiterated a “buy” rating and set a $120.00 price objective on shares of Microchip Technology in a research note on Friday, August 7th. UBS Group restated a “buy” rating and issued a $120.00 target price (down from $130.00) on shares of Microchip Technology in a research note on Friday, August 7th. Finally, Weiss Ratings upgraded Microchip Technology from a “hold (c-)” rating to a “hold (c)” rating in a research report on Tuesday, August 11th. Three analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating and seven have assigned a Hold rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $98.85.

Insider Activity at Microchip Technology

In other Microchip Technology news, CFO James Eric Bjornholt sold 3,667 shares of Microchip Technology stock in a transaction that occurred on Friday, May 22nd. The shares were sold at an average price of $90.87, for a total value of $333,220.29. Following the transaction, the chief financial officer owned 28,573 shares in the company, valued at approximately $2,596,428.51. The trade was a 11.37% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, COO Richard J. Simoncic sold 5,000 shares of the company’s stock in a transaction on Thursday, June 4th. The shares were sold at an average price of $97.52, for a total value of $487,600.00. Following the completion of the transaction, the chief operating officer directly owned 130,508 shares in the company, valued at $12,727,140.16. This represents a 3.69% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 16,667 shares of company stock valued at $1,580,580 over the last ninety days. Insiders own 1.79% of the company’s stock.

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.