6,961 Shares in Microchip Technology Incorporated $MCHP Purchased by ICONIQ Capital LLC

Key Points

• ICONIQ Capital LLC acquired a new position in Microchip Technology, purchasing 6,961 shares valued at approximately $337,000 during the first quarter.
• The latest analyst reports show mixed ratings for Microchip Technology, with Bank of America upgrading it to a neutral rating and setting a price target of $56.00.
• Microchip announced a quarterly dividend of $0.455 per share, which will be paid to shareholders on September 5th, representing an annual yield of 2.7%.

ICONIQ Capital LLC acquired a new position in shares of Microchip Technology Incorporated (NASDAQ:MCHP - Free Report) during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 6,961 shares of the semiconductor company's stock, valued at approximately $337,000.

A number of other institutional investors also recently modified their holdings of the stock. Garde Capital Inc. acquired a new position in shares of Microchip Technology during the first quarter worth approximately $30,000. Orion Capital Management LLC bought a new position in Microchip Technology in the 4th quarter worth approximately $41,000. Byrne Asset Management LLC acquired a new position in Microchip Technology during the 1st quarter worth $41,000. GW&K Investment Management LLC boosted its position in Microchip Technology by 161.0% in the 1st quarter. GW&K Investment Management LLC now owns 937 shares of the semiconductor company's stock valued at $45,000 after buying an additional 578 shares during the last quarter. Finally, American National Bank & Trust bought a new position in Microchip Technology in the 1st quarter valued at $48,000. 91.51% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several equities analysts have recently issued reports on the company. Bank of America raised Microchip Technology from an "underperform" rating to a "neutral" rating and set a $56.00 price target on the stock in a research note on Friday, May 9th. Wall Street Zen upgraded shares of Microchip Technology from a "sell" rating to a "hold" rating in a research report on Friday, June 27th. Zacks Research lowered shares of Microchip Technology from a "strong-buy" rating to a "hold" rating in a research note on Monday, August 18th. Mizuho boosted their price target on shares of Microchip Technology from $78.00 to $85.00 and gave the stock an "outperform" rating in a research note on Tuesday, July 8th. Finally, B. Riley increased their price objective on shares of Microchip Technology from $60.00 to $75.00 and gave the company a "buy" rating in a report on Friday, May 9th. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and six have issued a Hold rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $76.58.

Microchip Technology Stock Down 0.9%

Shares of NASDAQ MCHP opened at $68.55 on Tuesday. Microchip Technology Incorporated has a 52-week low of $34.13 and a 52-week high of $82.65. The company has a debt-to-equity ratio of 0.80, a quick ratio of 1.33 and a current ratio of 2.31. The stock has a market cap of $37.00 billion, a P/E ratio of -201.62, a P/E/G ratio of 2.00 and a beta of 1.55. The firm has a 50 day moving average price of $69.58 and a 200 day moving average price of $58.96.

Microchip Technology (NASDAQ:MCHP - Get Free Report) last posted its earnings results on Thursday, August 7th. The semiconductor company reported $0.27 earnings per share for the quarter, topping the consensus estimate of $0.24 by $0.03. The company had revenue of $1.08 billion for the quarter, compared to analyst estimates of $1.05 billion. Microchip Technology had a negative net margin of 3.50% and a positive return on equity of 6.24%. The business's revenue for the quarter was down 13.3% compared to the same quarter last year. During the same period last year, the business posted $0.53 earnings per share. Microchip Technology has set its Q2 2026 guidance at 0.340-0.370 EPS. Analysts expect that Microchip Technology Incorporated will post 1.03 EPS for the current year.

Microchip Technology Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 5th. Shareholders of record on Friday, August 22nd will be issued a dividend of $0.455 per share. The ex-dividend date is Friday, August 22nd. This represents a $1.82 annualized dividend and a yield of 2.7%. Microchip Technology's payout ratio is currently -535.29%.

Microchip Technology Company Profile

Microchip Technology Incorporated engages in the development, manufacture, and sale of smart, connected, and secure embedded control solutions in the Americas, Europe, and Asia. The company offers general purpose 8-bit, 16-bit, and 32-bit mixed-signal microcontrollers; 32-bit embedded mixed-signal microprocessors; and specialized microcontrollers for automotive, industrial, computing, communications, lighting, power supplies, motor control, human machine interface, security, wired connectivity, and wireless connectivity applications.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.