Castleark Management LLC Takes Position in Microchip Technology Incorporated $MCHP

Castleark Management LLC acquired a new position in Microchip Technology Incorporated (NASDAQ:MCHP) during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 34,000 shares of the semiconductor company’s stock, valued at approximately $3,101,000.

Other institutional investors have also added to or reduced their stakes in the company. AQR Capital Management LLC lifted its position in shares of Microchip Technology by 51.3% in the 1st quarter. AQR Capital Management LLC now owns 17,201 shares of the semiconductor company’s stock worth $827,000 after purchasing an additional 5,835 shares during the period. Geneos Wealth Management Inc. increased its position in shares of Microchip Technology by 101.8% during the first quarter. Geneos Wealth Management Inc. now owns 1,221 shares of the semiconductor company’s stock worth $59,000 after buying an additional 616 shares during the period. Cresset Asset Management LLC raised its stake in Microchip Technology by 5.4% during the second quarter. Cresset Asset Management LLC now owns 11,433 shares of the semiconductor company’s stock worth $805,000 after buying an additional 589 shares during the last quarter. AXA S.A. raised its stake in Microchip Technology by 21.3% during the second quarter. AXA S.A. now owns 51,552 shares of the semiconductor company’s stock worth $3,628,000 after buying an additional 9,043 shares during the last quarter. Finally, Treasurer of the State of North Carolina lifted its holdings in Microchip Technology by 1.6% in the second quarter. Treasurer of the State of North Carolina now owns 246,530 shares of the semiconductor company’s stock valued at $17,348,000 after buying an additional 3,851 shares during the period. 91.51% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other Microchip Technology news, COO Richard J. Simoncic sold 5,000 shares of the business’s stock in a transaction on Thursday, June 4th. The shares were sold at an average price of $97.52, for a total transaction of $487,600.00. Following the completion of the sale, the chief operating officer owned 130,508 shares in the company, valued at approximately $12,727,140.16. The trade was a 3.69% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO James Eric Bjornholt sold 4,112 shares of the company’s stock in a transaction on Tuesday, August 25th. The stock was sold at an average price of $75.32, for a total transaction of $309,715.84. Following the transaction, the chief financial officer owned 28,573 shares in the company, valued at approximately $2,152,118.36. The trade was a 12.58% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 9,949 shares of company stock valued at $864,493 in the last 90 days. 1.79% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

MCHP has been the topic of a number of research analyst reports. Truist Financial cut their price target on shares of Microchip Technology from $105.00 to $90.00 and set a “hold” rating on the stock in a research report on Friday, August 7th. Wells Fargo & Company lowered their price objective on 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. Zacks Research downgraded Microchip Technology from a “strong-buy” rating to a “hold” rating in a research note on Monday, August 17th. BMO Capital Markets started coverage on Microchip Technology in a research report on Friday, August 21st. They set an “outperform” rating and a $95.00 target price on the stock. Finally, Weiss Ratings raised Microchip Technology from a “hold (c-)” rating to a “hold (c)” rating in a research note on Tuesday, August 11th. Three analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and eight have assigned a Hold rating to the company. Based on data from MarketBeat.com, Microchip Technology presently has a consensus rating of “Moderate Buy” and a consensus price target of $98.67.

Microchip Technology Stock Up 0.7%

MCHP stock opened at $74.05 on Thursday. The stock’s 50 day simple moving average is $82.92 and its 200 day simple moving average is $81.43. Microchip Technology Incorporated has a fifty-two week low of $48.52 and a fifty-two 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 cap of $40.21 billion, a P/E ratio of 110.52, a price-to-earnings-growth ratio of 0.51 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 firm had revenue of $1.48 billion during the quarter, compared to analysts’ expectations of $1.46 billion. Microchip Technology had a return on equity of 14.97% and a net margin of 9.34%.The company’s revenue for the quarter was up 38.0% compared to the same quarter last year. During the same quarter last year, the firm posted $0.27 earnings per share. Microchip Technology has set its Q2 2027 guidance at 0.910-0.950 EPS. On average, research analysts expect that Microchip Technology Incorporated will post 3.16 earnings per share for the current fiscal year.

Microchip Technology Announces Dividend

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

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.