9,296 Shares in Microchip Technology Incorporated $MCHP Bought by Platinum Investment Management Ltd.

Key Points

• Platinum Investment Management Ltd. has acquired a new position in Microchip Technology, purchasing 9,296 shares valued at approximately $654,000.
• Notable insider transactions include sales by Director Matthew W. Chapman and CFO James Eric Bjornholt, resulting in significant decreases in their respective ownership stakes.
• Several analysts have recently raised their price targets for Microchip Technology, with a consensus price target now at $75.75, reflecting a generally optimistic outlook for the stock.

Platinum Investment Management Ltd. bought a new position in shares of Microchip Technology Incorporated (NASDAQ:MCHP - Free Report) in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 9,296 shares of the semiconductor company's stock, valued at approximately $654,000.

Other hedge funds have also bought and sold shares of the company. First Citizens Bank & Trust Co. raised its stake in Microchip Technology by 468.2% during the first quarter. First Citizens Bank & Trust Co. now owns 73,737 shares of the semiconductor company's stock worth $3,570,000 after buying an additional 60,760 shares during the last quarter. Everhart Financial Group Inc. bought a new stake in Microchip Technology in the first quarter valued at $221,000. Sowell Financial Services LLC bought a new stake in Microchip Technology in the first quarter valued at $318,000. Thompson Investment Management Inc. increased its stake in Microchip Technology by 9.9% in the first quarter. Thompson Investment Management Inc. now owns 91,016 shares of the semiconductor company's stock valued at $4,406,000 after purchasing an additional 8,175 shares in the last quarter. Finally, Oppenheimer Asset Management Inc. increased its stake in Microchip Technology by 35.8% in the first quarter. Oppenheimer Asset Management Inc. now owns 33,554 shares of the semiconductor company's stock valued at $1,624,000 after purchasing an additional 8,843 shares in the last quarter. Institutional investors own 91.51% of the company's stock.

Insider Activity

In related news, Director Matthew W. Chapman sold 10,000 shares of the business's stock in a transaction dated Monday, August 25th. The shares were sold at an average price of $68.25, for a total transaction of $682,500.00. Following the transaction, the director directly owned 30,665 shares in the company, valued at approximately $2,092,886.25. The trade was a 24.59% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO James Eric Bjornholt sold 7,356 shares of the business's stock in a transaction dated Monday, August 25th. The stock was sold at an average price of $68.72, for a total transaction of $505,504.32. Following the transaction, the chief financial officer owned 30,010 shares in the company, valued at approximately $2,062,287.20. This trade represents a 19.69% decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.94% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on MCHP. Stifel Nicolaus lifted their price target on shares of Microchip Technology from $70.00 to $82.00 and gave the company a "buy" rating in a research note on Friday, July 18th. Mizuho lifted their price target on shares of Microchip Technology from $78.00 to $85.00 and gave the company an "outperform" rating in a research note on Tuesday, July 8th. Needham & Company LLC lifted their price target on shares of Microchip Technology from $66.00 to $77.00 and gave the company a "buy" rating in a research note on Friday, August 8th. Zacks Research downgraded shares of Microchip Technology from a "strong-buy" rating to a "hold" rating in a research note on Monday, August 18th. Finally, Citigroup lifted their price target on shares of Microchip Technology from $68.00 to $90.00 and gave the company a "buy" rating in a research note on Monday, July 7th. One investment analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating and seven have given a Hold rating to the company. Based on data from MarketBeat.com, Microchip Technology has a consensus rating of "Moderate Buy" and a consensus price target of $75.75.

Microchip Technology Trading Down 0.2%

NASDAQ:MCHP opened at $64.11 on Thursday. The company has a debt-to-equity ratio of 0.80, a current ratio of 2.31 and a quick ratio of 1.33. The firm has a 50-day moving average of $65.76 and a 200-day moving average of $60.42. The company has a market cap of $34.60 billion, a PE ratio of -188.56, a PEG ratio of 1.84 and a beta of 1.55. Microchip Technology Incorporated has a one year low of $34.13 and a one year high of $79.53.

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

Microchip Technology Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, September 5th. Investors of record on Friday, August 22nd were issued a dividend of $0.455 per share. The ex-dividend date was Friday, August 22nd. This represents a $1.82 annualized dividend and a yield of 2.8%. Microchip Technology's payout ratio is -535.29%.

Microchip Technology 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.

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