Sanctuary Advisors LLC Purchases Shares of 36,497 Microchip Technology Incorporated $MCHP

Sanctuary Advisors LLC acquired a new stake in shares of Microchip Technology Incorporated (NASDAQ:MCHP) during the 2nd quarter, Holdings Channel reports. The firm acquired 36,497 shares of the semiconductor company’s stock, valued at approximately $3,329,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Vanguard Group Inc. increased its position in Microchip Technology by 2.0% in the 4th quarter. Vanguard Group Inc. now owns 73,506,339 shares of the semiconductor company’s stock valued at $4,683,824,000 after buying an additional 1,430,781 shares in the last quarter. State Street Corp boosted its holdings in Microchip Technology by 2.8% in 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 in the last quarter. Boston Partners grew its stake in Microchip Technology by 9.5% in the third quarter. Boston Partners now owns 16,234,332 shares of the semiconductor company’s stock valued at $1,044,024,000 after acquiring an additional 1,406,885 shares during the period. Geode Capital Management LLC grew its stake in Microchip Technology by 1.4% in the fourth quarter. Geode Capital Management LLC now owns 15,394,985 shares of the semiconductor company’s stock valued at $977,638,000 after acquiring an additional 213,188 shares during the period. Finally, Invesco Ltd. increased its holdings in shares of Microchip Technology by 4.8% during the fourth quarter. Invesco Ltd. now owns 14,992,128 shares of the semiconductor company’s stock valued at $955,298,000 after acquiring an additional 684,561 shares in the last quarter. Institutional investors own 91.51% of the company’s stock.

Microchip Technology Trading Down 1.0%

Shares of MCHP stock opened at $73.50 on Wednesday. Microchip Technology Incorporated has a 52-week low of $48.52 and a 52-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 50-day simple moving average of $83.33 and a two-hundred day simple moving average of $81.46. The company has a market capitalization of $39.91 billion, a price-to-earnings ratio of 109.70, a PEG ratio of 0.52 and a beta of 1.76.

Microchip Technology (NASDAQ:MCHP) last posted its earnings results on Thursday, August 6th. The semiconductor company reported $0.76 EPS for the quarter, topping the consensus estimate of $0.70 by $0.06. The firm had revenue of $1.48 billion for the quarter, compared to analysts’ expectations 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 last year, the firm earned $0.27 EPS. Microchip Technology has set its Q2 2027 guidance at 0.910-0.950 EPS. Research analysts anticipate that Microchip Technology Incorporated will post 3.16 EPS for the current fiscal year.

Microchip Technology Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 9th. Stockholders of record on Monday, August 24th will be given 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 dividend yield of 2.5%. Microchip Technology’s dividend payout ratio (DPR) is currently 271.64%.

Insider Transactions at Microchip Technology

In related news, COO Richard J. Simoncic sold 5,000 shares of the firm’s stock in a transaction dated 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. This trade represents a 3.69% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CFO James Eric Bjornholt sold 837 shares of Microchip Technology stock in a transaction dated Monday, August 17th. The stock was 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 in the company, valued at approximately $2,484,849.60. This represents a 2.63% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 8,837 shares of company stock worth $847,338 in the last ninety days. Company insiders own 1.79% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on the company. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $125.00 target price on shares of Microchip Technology in a research report on Monday, August 17th. TD Cowen decreased their price target on shares of Microchip Technology from $105.00 to $90.00 and set a “hold” rating for the company in a research note on Monday, July 13th. Barclays upped their price objective on shares of Microchip Technology from $80.00 to $105.00 and gave the stock an “equal weight” rating in a report on Monday, May 11th. Citigroup dropped 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. Finally, Zacks Research cut shares of Microchip Technology from a “strong-buy” rating to a “hold” rating in a report on Monday, August 17th. Three equities research analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating and eight have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $98.67.

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.