63,008 Shares in Microchip Technology Incorporated $MCHP Bought by Tsfg LLC

Tsfg LLC bought a new position in shares of Microchip Technology Incorporated (NASDAQ:MCHP) during the 2nd quarter, according to its most recent disclosure with the SEC. The fund bought 63,008 shares of the semiconductor company’s stock, valued at approximately $5,746,000.

A number of other institutional investors have also recently made changes to their positions in MCHP. AQR Capital Management LLC raised its position in shares of Microchip Technology by 51.3% during the first quarter. AQR Capital Management LLC now owns 17,201 shares of the semiconductor company’s stock worth $827,000 after acquiring an additional 5,835 shares during the last quarter. Geneos Wealth Management Inc. boosted its holdings in Microchip Technology by 101.8% in the first quarter. Geneos Wealth Management Inc. now owns 1,221 shares of the semiconductor company’s stock valued at $59,000 after acquiring an additional 616 shares during the last quarter. Cresset Asset Management LLC boosted its holdings in Microchip Technology by 5.4% in the second quarter. Cresset Asset Management LLC now owns 11,433 shares of the semiconductor company’s stock valued at $805,000 after acquiring an additional 589 shares during the last quarter. AXA S.A. increased its position in Microchip Technology by 21.3% during the 2nd quarter. AXA S.A. now owns 51,552 shares of the semiconductor company’s stock valued at $3,628,000 after purchasing an additional 9,043 shares during the period. Finally, Treasurer of the State of North Carolina increased its position in Microchip Technology by 1.6% during the 2nd 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 purchasing an additional 3,851 shares during the period. Institutional investors own 91.51% of the company’s stock.

Microchip Technology Price Performance

Microchip Technology stock opened at $71.41 on Wednesday. The stock has a market capitalization of $38.78 billion, a price-to-earnings ratio of 106.58, a PEG ratio of 0.51 and a beta of 1.75. 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 stock’s 50 day moving average price is $80.88 and its two-hundred day moving average price is $81.33.

Microchip Technology (NASDAQ:MCHP) last released its quarterly earnings data on Thursday, August 6th. The semiconductor company reported $0.76 earnings per share for the quarter, beating 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 company had revenue of $1.48 billion during the quarter, compared to analyst estimates of $1.46 billion. During the same quarter in the previous year, the business posted $0.27 EPS. Microchip Technology’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. On average, equities analysts predict that Microchip Technology Incorporated will post 3.16 earnings per share for the current year.

Microchip Technology Dividend Announcement

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 paid a $0.455 dividend. This represents a $1.82 annualized dividend and a yield of 2.5%. The ex-dividend date of this dividend is Monday, August 24th. Microchip Technology’s payout ratio is 271.64%.

Insider Buying and Selling at Microchip Technology

In other news, COO Richard J. Simoncic sold 5,000 shares of the firm’s stock in a transaction dated Thursday, June 4th. The stock was sold at an average price of $97.52, for a total value of $487,600.00. Following the completion of the sale, the chief operating officer directly owned 130,508 shares in the company, valued at $12,727,140.16. This trade represents a 3.69% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CFO James Eric Bjornholt sold 4,112 shares of the firm’s stock in a transaction dated Tuesday, August 25th. The shares were 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 owned 28,573 shares of the company’s stock, valued at approximately $2,152,118.36. This represents a 12.58% decrease in their ownership of the stock. 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. Over the last ninety days, insiders sold 9,949 shares of company stock valued at $864,493. Insiders own 1.79% of the company’s stock.

Analyst Upgrades and Downgrades

MCHP has been the topic of a number of recent analyst reports. JPMorgan Chase & Co. boosted their price target on shares of Microchip Technology from $95.00 to $120.00 and gave the stock an “overweight” rating in a research report on Friday, May 8th. Wall Street Zen upgraded shares of Microchip Technology from a “hold” rating to a “buy” rating in a research report on Saturday, May 9th. Citigroup lowered their target price on shares of Microchip Technology from $113.00 to $95.00 and set a “buy” rating for the company in a research note on Friday, August 7th. Susquehanna boosted their target price on shares of Microchip Technology from $95.00 to $120.00 and gave the company a “positive” rating in a report on Friday, May 8th. Finally, TD Cowen 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 Monday, July 13th. Three investment analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and eight have issued a Hold rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $98.67.

Microchip Technology Company 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.