34,239 Shares in Microchip Technology Incorporated $MCHP Bought by VCI Wealth Management LLC

Key Points

• VCI Wealth Management acquired 34,239 Microchip Technology shares worth approximately $2.66 million in the third quarter. Institutional investors own 91.51% of the company, with several other firms also increasing or initiating positions.
• Microchip reported quarterly revenue of $1.48 billion and earnings of $0.76 per share, beating analyst estimates, while revenue increased 38% year over year. The company also pays a $1.82 annualized dividend, yielding about 2.4%.
• Analysts maintain a generally positive view, with the stock carrying a “Moderate Buy” consensus rating and an average price target of $97.71 versus a recent price of $76.11. Recent targets ranged from $80 to $120, while CFO James Bjornholt sold shares under a pre-arranged trading plan.

VCI Wealth Management LLC acquired a new position in Microchip Technology Incorporated (NASDAQ:MCHP - Free Report) in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 34,239 shares of the semiconductor company's stock, valued at approximately $2,663,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Mirae Asset Global Investments Co. Ltd. purchased a new stake in shares of Microchip Technology during the third quarter worth about $94,304,000. ProShare Advisors LLC raised its stake in Microchip Technology by 0.6% during the 3rd quarter. ProShare Advisors LLC now owns 785,822 shares of the semiconductor company's stock valued at $61,113,000 after purchasing an additional 4,391 shares during the period. Vise Technologies Inc. raised its stake in Microchip Technology by 43.2% during the 3rd quarter. Vise Technologies Inc. now owns 13,027 shares of the semiconductor company's stock valued at $1,013,000 after purchasing an additional 3,927 shares during the period. Intrua Financial LLC lifted its holdings in Microchip Technology by 77.0% in the 3rd quarter. Intrua Financial LLC now owns 4,486 shares of the semiconductor company's stock worth $349,000 after purchasing an additional 1,952 shares in the last quarter. Finally, MGO One Seven LLC lifted its holdings in Microchip Technology by 5.9% in the 3rd quarter. MGO One Seven LLC now owns 6,981 shares of the semiconductor company's stock worth $543,000 after purchasing an additional 391 shares in the last quarter. 91.51% of the stock is currently owned by institutional investors.

Microchip Technology Stock Performance

NASDAQ:MCHP opened at $76.11 on Tuesday. The company has a market cap of $41.33 billion, a price-to-earnings ratio of 113.60, a PEG ratio of 0.55 and a beta of 1.77. Microchip Technology Incorporated has a 1 year low of $48.52 and a 1 year high of $105.91. The stock's 50 day simple moving average is $75.26 and its two-hundred day simple moving average is $79.51. The company has a debt-to-equity ratio of 0.83, a current ratio of 1.92 and a quick ratio of 1.11.

Microchip Technology (NASDAQ:MCHP - Get Free Report) last posted its earnings results on Thursday, August 6th. The semiconductor company reported $0.76 EPS 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 during the quarter, compared to the consensus estimate of $1.46 billion. During the same period in the prior year, the company earned $0.27 EPS. The company's quarterly revenue 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. As a group, equities analysts anticipate that Microchip Technology Incorporated will post 3.20 earnings per share for the current fiscal year.

Microchip Technology Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, September 9th. Shareholders of record on Monday, August 24th were given a dividend of $0.4550 per share. The ex-dividend date was Monday, August 24th. This represents a $1.82 annualized dividend and a yield of 2.4%. Microchip Technology's dividend payout ratio (DPR) is 271.64%.

Insider Buying and Selling

In other Microchip Technology news, CFO James Bjornholt sold 4,112 shares of Microchip Technology stock in a transaction on 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 transaction, the chief financial officer directly owned 28,573 shares of the company's stock, valued at $2,152,118.36. This trade represents a 12.58% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 1.79% of the stock is owned by company insiders.

Analysts Set New Price Targets

MCHP has been the subject of several recent analyst reports. Rosenblatt Securities restated a "buy" rating and issued a $120.00 price target on shares of Microchip Technology in a research note on Friday, August 7th. Zacks Research cut shares of Microchip Technology from a "strong-buy" rating to a "hold" rating in a research report on Monday, August 17th. Wells Fargo & Company lowered their target price on shares of Microchip Technology from $88.00 to $80.00 and set an "equal weight" rating on the stock in a report on Tuesday, October 20th. Weiss Ratings raised shares of Microchip Technology from a "hold (c-)" rating to a "hold (c)" rating in a report on Tuesday, August 11th. Finally, B. Riley Financial dropped their target price on shares of Microchip Technology from $108.00 to $98.00 and set a "buy" rating for the company in a research report on Thursday, October 22nd. Three 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 stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $97.71.

Microchip Technology Company Profile

Microchip Technology Incorporated NASDAQ: MCHP develops and manufactures semiconductor products used in embedded control and connected electronic systems. Its portfolio includes microcontrollers, microprocessors, analog and power-management devices, memory products, timing and connectivity components, security solutions, and field-programmable gate arrays. The company also provides development tools, software, evaluation kits, and technical support to help customers design and produce electronic equipment.

Microchip's products are used across a range of markets, including automotive, industrial, aerospace and defense, communications, consumer electronics, data centers, and medical applications.

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