422,552 Shares in Microchip Technology Incorporated $MCHP Acquired by Junto Capital Management LP

Key Points

• Junto Capital Management acquired 422,552 shares of Microchip Technology, valued at approximately $38.5 million, giving it about 0.08% ownership. Institutional investors collectively own 91.51% of the company.
• Analysts maintain a “Moderate Buy” consensus rating, with an average price target of $98.67, despite several firms recently lowering their targets to $90–$120.
• Microchip reported quarterly earnings of $0.76 per share on $1.48 billion in revenue, beating estimates and increasing revenue 38% year over year; the company also pays a quarterly dividend of $0.455 per share.

Junto Capital Management LP bought a new position in shares of Microchip Technology Incorporated (NASDAQ:MCHP - Free Report) during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor bought 422,552 shares of the semiconductor company's stock, valued at approximately $38,537,000. Junto Capital Management LP owned approximately 0.08% of Microchip Technology as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in MCHP. Vienna Powszechne Towarzystwo Emerytalne S.A. Vienna Insurance Group purchased a new position in shares of Microchip Technology in the 4th quarter valued at about $6,691,000. Peregrine Investment Management Inc. purchased a new stake in shares of Microchip Technology during the first quarter worth approximately $5,492,000. Epoch Investment Partners Inc. raised its holdings in Microchip Technology by 16.5% in the fourth quarter. Epoch Investment Partners Inc. now owns 1,349,136 shares of the semiconductor company's stock valued at $85,967,000 after acquiring an additional 191,339 shares in the last quarter. Norges Bank purchased a new position in Microchip Technology in the fourth quarter worth approximately $664,564,000. Finally, Leonteq Securities AG purchased a new position in Microchip Technology in the fourth quarter worth approximately $981,000. Hedge funds and other institutional investors own 91.51% of the company's stock.

Wall Street Analyst Weigh In

Several research firms recently commented on MCHP. UBS Group reissued a "buy" rating and issued a $120.00 target price (down from $130.00) on shares of Microchip Technology in a report on Friday, August 7th. Truist Financial cut their target price on shares of Microchip Technology from $105.00 to $90.00 and set a "hold" rating on the stock in a report on Friday, August 7th. 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. Rosenblatt Securities reissued a "buy" rating and set a $120.00 price objective on shares of Microchip Technology in a research report on Friday, August 7th. Finally, Cantor Fitzgerald reaffirmed an "overweight" rating on shares of Microchip Technology in a report on Wednesday. Three research analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating and eight have issued a Hold rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $98.67.

Insider Activity at Microchip Technology

In other news, CFO James Bjornholt sold 4,112 shares of Microchip Technology 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 sale, the chief financial officer owned 28,573 shares of the company's stock, valued at $2,152,118.36. The trade was a 12.58% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 1.79% of the company's stock.

Microchip Technology Trading Down 0.5%

NASDAQ:MCHP opened at $73.01 on Thursday. Microchip Technology Incorporated has a 12-month low of $48.52 and a 12-month high of $105.91. The company has a current ratio of 1.92, a quick ratio of 1.11 and a debt-to-equity ratio of 0.83. The stock's 50 day simple moving average is $78.83 and its 200-day simple moving average is $81.11. The firm has a market cap of $39.65 billion, a P/E ratio of 108.97, a PEG ratio of 0.51 and a beta of 1.75.

Microchip Technology (NASDAQ:MCHP - Get Free Report) last issued its quarterly 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 firm had revenue of $1.48 billion during the quarter, compared to the consensus estimate of $1.46 billion. During the same period last year, the company earned $0.27 earnings per share. The company's revenue for the quarter was up 38.0% on a year-over-year basis. Microchip Technology has set its Q2 2027 guidance at 0.910-0.950 EPS. Equities analysts anticipate that Microchip Technology Incorporated will post 3.16 EPS for the current year.

Microchip Technology Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, September 9th. Stockholders of record on Monday, August 24th were paid a $0.455 dividend. This represents a $1.82 annualized dividend and a dividend yield of 2.5%. The ex-dividend date was Monday, August 24th. Microchip Technology's dividend payout ratio (DPR) is 271.64%.

Microchip Technology Profile

Microchip Technology Incorporated NASDAQ: MCHP develops and manufactures semiconductor products for embedded control and connected applications. Its portfolio includes microcontrollers, microprocessors, analog and mixed-signal devices, power-management products, timing and connectivity solutions, memory products, field-programmable gate arrays (FPGAs), and security components.

The company also provides development tools, software, reference designs, and technical support that help customers design and integrate embedded systems.

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