110,000 Shares of Microchip Technology Incorporated $MCHP Acquired by Viking Fund Management LLC

Viking Fund Management LLC purchased a new stake in shares of Microchip Technology Incorporated (NASDAQ:MCHP) in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 110,000 shares of the semiconductor company’s stock, valued at approximately $8,555,000.

Other institutional investors also recently bought and sold shares of the company. Resonant Capital Advisors LLC lifted its holdings in Microchip Technology by 0.9% in the first quarter. Resonant Capital Advisors LLC now owns 12,542 shares of the semiconductor company’s stock valued at $810,000 after acquiring an additional 118 shares during the period. Apella Capital LLC grew its stake in shares of Microchip Technology by 4.8% during the 2nd quarter. Apella Capital LLC now owns 2,669 shares of the semiconductor company’s stock worth $225,000 after purchasing an additional 122 shares during the period. Bridgewater Advisors Inc. grew its stake in shares of Microchip Technology by 4.2% during the 2nd quarter. Bridgewater Advisors Inc. now owns 3,331 shares of the semiconductor company’s stock worth $304,000 after purchasing an additional 133 shares during the period. Total Wealth Planning & Management Inc. grew its stake in shares of Microchip Technology by 3.5% during the 2nd quarter. Total Wealth Planning & Management Inc. now owns 4,225 shares of the semiconductor company’s stock worth $385,000 after purchasing an additional 141 shares during the period. Finally, Texas Capital Bank Wealth Management Services Inc increased its holdings in shares of Microchip Technology by 2.0% during the 2nd quarter. Texas Capital Bank Wealth Management Services Inc now owns 7,513 shares of the semiconductor company’s stock valued at $685,000 after purchasing an additional 144 shares in the last quarter. 91.51% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Microchip Technology news, CFO James Bjornholt sold 4,112 shares of the company’s stock in a transaction on Tuesday, August 25th. The shares were sold at an average price of $75.32, for a total transaction of $309,715.84. Following the completion of the transaction, the chief financial officer directly owned 28,573 shares in the company, valued at approximately $2,152,118.36. This represents a 12.58% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 1.79% of the company’s stock.

Microchip Technology Stock Down 3.9%

Shares of MCHP opened at $71.25 on Thursday. The firm has a market cap of $38.69 billion, a P/E ratio of 106.34, a PEG ratio of 0.52 and a beta of 1.77. Microchip Technology Incorporated has a 12 month low of $48.52 and a 12 month high of $105.91. The stock’s 50 day moving average is $75.76 and its two-hundred day moving average is $82.41. 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 announced its earnings results 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. Microchip Technology had a return on equity of 14.97% and a net margin of 9.34%. The business had revenue of $1.48 billion during the quarter, compared to the consensus estimate of $1.46 billion. During the same period in the prior year, the company posted $0.27 EPS. The business’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. Analysts predict that Microchip Technology Incorporated will post 3.16 earnings per share for the current fiscal year.

Microchip Technology Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, September 9th. Investors of record on Monday, August 24th were issued a $0.4550 dividend. This represents a $1.82 annualized dividend and a yield of 2.6%. The ex-dividend date of this dividend was Monday, August 24th. Microchip Technology’s payout ratio is presently 271.64%.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on MCHP shares. Weiss Ratings upgraded shares of Microchip Technology from a “hold (c-)” rating to a “hold (c)” rating in a research note on Tuesday, August 11th. Citigroup dropped their price target on shares of Microchip Technology from $113.00 to $95.00 and set a “buy” rating on the stock in a research report on Friday, August 7th. Wells Fargo & Company dropped their price target on shares of Microchip Technology from $95.00 to $88.00 and set an “equal weight” rating on the stock in a research report on Monday, July 20th. Rosenblatt Securities reaffirmed a “buy” rating and issued a $120.00 price objective on shares of Microchip Technology in a report on Friday, August 7th. Finally, BMO Capital Markets initiated coverage on shares of Microchip Technology in a research report on Friday, August 21st. They issued an “outperform” rating and a $95.00 price objective for the company. Three equities research analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and eight have given a Hold rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $98.67.

Microchip Technology Company Profile

Microchip Technology Inc is a semiconductor company that develops and manufactures embedded control solutions for automotive, industrial, aerospace and defense, communications, consumer, and computing applications. Its products are designed to help customers manage processing, connectivity, power, timing, security, and data storage within electronic systems.

The company’s product portfolio includes microcontrollers, microprocessors, analog and mixed-signal devices, power-management products, timing and synchronization solutions, memory products, connectivity components, and field-programmable gate arrays.