Susquehanna Advisors Group Inc. Invests $53.70 Million in Microchip Technology Incorporated $MCHP

Susquehanna Advisors Group Inc. acquired a new stake in Microchip Technology Incorporated (NASDAQ:MCHP) during the second quarter, according to its most recent filing with the SEC. The firm acquired 700,000 shares of the semiconductor company’s stock, valued at approximately $53,697,000. Microchip Technology comprises about 0.9% of Susquehanna Advisors Group Inc.’s holdings, making the stock its 16th largest position. Susquehanna Advisors Group Inc. owned approximately 0.13% of Microchip Technology as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of the company. State Street Corp increased its stake in shares of Microchip Technology by 2.8% during the fourth quarter. State Street Corp now owns 28,863,048 shares of the semiconductor company’s stock worth $1,839,153,000 after acquiring an additional 783,157 shares during the period. Boston Partners raised its stake in shares of Microchip Technology by 9.5% during the 3rd quarter. Boston Partners now owns 16,234,332 shares of the semiconductor company’s stock worth $1,044,024,000 after buying an additional 1,406,885 shares in the last quarter. Geode Capital Management LLC lifted its holdings in shares of Microchip Technology by 1.4% in the 4th quarter. Geode Capital Management LLC now owns 15,394,985 shares of the semiconductor company’s stock valued at $977,638,000 after buying an additional 213,188 shares during the period. Invesco Ltd. grew its holdings in Microchip Technology by 4.8% during the fourth quarter. Invesco Ltd. now owns 14,992,128 shares of the semiconductor company’s stock worth $955,298,000 after acquiring an additional 684,561 shares during the period. Finally, Barclays PLC raised its position in Microchip Technology by 66.5% in the fourth quarter. Barclays PLC now owns 13,996,883 shares of the semiconductor company’s stock worth $891,881,000 after acquiring an additional 5,590,210 shares in the last quarter. 91.51% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several brokerages have commented on MCHP. Cantor Fitzgerald restated an “overweight” rating and set a $125.00 target price on shares of Microchip Technology in a research report on Monday, August 17th. Weiss Ratings upgraded shares of Microchip Technology from a “hold (c-)” rating to a “hold (c)” rating in a research report on Tuesday, August 11th. TD Cowen dropped their target price on shares of Microchip Technology from $105.00 to $90.00 and set a “hold” rating for the company in a report on Monday, July 13th. UBS Group reissued a “buy” rating and set a $120.00 price target (down from $130.00) on shares of Microchip Technology in a research note on Friday, August 7th. Finally, BMO Capital Markets began coverage on Microchip Technology in a research note on Friday, August 21st. They issued an “outperform” rating and a $95.00 price objective for the company. Three analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and eight have given a Hold rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $98.67.

Microchip Technology Stock Performance

NASDAQ:MCHP opened at $72.93 on Monday. The company has a quick ratio of 1.11, a current ratio of 1.92 and a debt-to-equity ratio of 0.83. The company has a market cap of $39.60 billion, a P/E ratio of 108.85, a P/E/G ratio of 0.51 and a beta of 1.76. The firm’s 50 day moving average is $81.90 and its two-hundred day moving average is $81.42. Microchip Technology Incorporated has a fifty-two week low of $48.52 and a fifty-two week high of $105.91.

Microchip Technology (NASDAQ:MCHP) last issued its earnings results on Thursday, August 6th. The semiconductor company reported $0.76 earnings per share for the quarter, beating analysts’ consensus estimates of $0.70 by $0.06. Microchip Technology had a return on equity of 14.97% and a net margin of 9.34%.The firm had revenue of $1.48 billion for the quarter, compared to analysts’ expectations of $1.46 billion. During the same quarter last year, the firm earned $0.27 earnings per share. The firm’s revenue for the quarter was up 38.0% compared to the same quarter last year. Microchip Technology has set its Q2 2027 guidance at 0.910-0.950 EPS. Analysts expect that Microchip Technology Incorporated will post 3.16 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 issued a dividend of $0.455 per share. The ex-dividend date is Monday, August 24th. This represents a $1.82 annualized dividend and a dividend yield of 2.5%. Microchip Technology’s payout ratio is presently 271.64%.

Insider Buying and Selling at Microchip Technology

In other Microchip Technology news, COO Richard J. Simoncic sold 5,000 shares of the business’s stock in a transaction dated Thursday, June 4th. The stock was sold at an average price of $97.52, for a total transaction of $487,600.00. Following the transaction, the chief operating officer owned 130,508 shares in the company, valued at $12,727,140.16. The trade was a 3.69% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO James Eric Bjornholt sold 4,112 shares of the company’s stock in a transaction dated Tuesday, August 25th. The stock was sold at an average price of $75.32, for a total value of $309,715.84. Following the completion of the sale, the chief financial officer directly owned 28,573 shares of the company’s stock, valued at $2,152,118.36. The trade was a 12.58% decrease in their position. The disclosure for this sale is available in the SEC filing. 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 worth $864,493 in the last 90 days. Company 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.