Partners Capital Investment Group LLP Acquires New Stake in Microchip Technology Incorporated $MCHP

Partners Capital Investment Group LLP acquired a new position in shares of Microchip Technology Incorporated (NASDAQ:MCHP) in the second quarter, according to the company in its most recent filing with the SEC. The firm acquired 23,771 shares of the semiconductor company’s stock, valued at approximately $2,168,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in MCHP. EFG International AG purchased a new position in Microchip Technology in the 4th quarter valued at about $29,000. Miller Capital Partners Inc. acquired a new stake in shares of Microchip Technology during the 4th quarter worth about $29,000. Continuum Advisory LLC purchased a new stake in shares of Microchip Technology during the second quarter worth about $30,000. Johnson Financial Group Inc. purchased a new stake in shares of Microchip Technology during the second quarter worth about $31,000. Finally, Reflection Asset Management purchased a new stake in shares of Microchip Technology during the fourth quarter worth about $33,000. Hedge funds and other institutional investors own 91.51% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on MCHP shares. Citigroup reduced their price objective on shares of Microchip Technology from $113.00 to $95.00 and set a “buy” rating on the stock in a research note on Friday, August 7th. BMO Capital Markets began coverage on shares of Microchip Technology in a research note on Friday. They issued an “outperform” rating and a $95.00 target price for the company. Wells Fargo & Company cut their price target 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. Susquehanna increased their price target on Microchip Technology from $95.00 to $120.00 and gave the stock a “positive” rating in a research note on Friday, May 8th. Finally, Zacks Research cut Microchip Technology from a “strong-buy” rating to a “hold” rating in a report on Monday, August 17th. Three investment 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 stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $98.67.

Microchip Technology Trading Down 2.5%

Shares of MCHP stock opened at $74.21 on Tuesday. The firm has a market cap of $40.30 billion, a P/E ratio of 110.76, a PEG ratio of 0.53 and a beta of 1.76. Microchip Technology Incorporated has a 1-year low of $48.52 and a 1-year high of $105.91. 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 firm’s 50-day simple moving average is $83.77 and its 200-day simple moving average is $81.49.

Microchip Technology (NASDAQ:MCHP) last released its earnings results on Thursday, August 6th. The semiconductor company reported $0.76 earnings per share (EPS) for the quarter, topping 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 business had revenue of $1.48 billion for the quarter, compared to analysts’ expectations of $1.46 billion. During the same period last year, the company earned $0.27 earnings per share. The company’s quarterly 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. As a group, equities analysts forecast that Microchip Technology Incorporated will post 3.16 EPS for the current year.

Microchip Technology Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, September 9th. Shareholders of record on Monday, August 24th will be issued a $0.455 dividend. This represents a $1.82 dividend on an annualized basis and a dividend yield of 2.5%. The ex-dividend date is Monday, August 24th. Microchip Technology’s dividend payout ratio (DPR) is 271.64%.

Insider Buying and Selling at Microchip Technology

In other news, CFO James Eric Bjornholt sold 837 shares of the business’s stock in a transaction on Monday, August 17th. The shares were sold at an average price of $80.26, for a total transaction of $67,177.62. Following the completion of the sale, the chief financial officer directly owned 30,960 shares of the company’s stock, valued at $2,484,849.60. The trade was a 2.63% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, COO Richard J. Simoncic sold 5,000 shares of the company’s stock in a transaction on Thursday, June 4th. The stock was sold at an average price of $97.52, for a total value of $487,600.00. Following the sale, the chief operating officer owned 130,508 shares of the company’s stock, valued at approximately $12,727,140.16. The trade was a 3.69% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 8,837 shares of company stock worth $847,338 in the last quarter. 1.79% of the stock is owned by insiders.

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.