AG2R LA Mondiale Gestion D Actifs Acquires Shares of 22,502 Microchip Technology Incorporated $MCHP

Key Points

• AG2R LA Mondiale Gestion D Actifs has invested approximately $1.09 million in Microchip Technology, acquiring 22,502 shares during the first quarter.
• Microchip Technology's recent earnings report revealed $1.08 billion in revenue, surpassing expectations, but its quarterly revenue is still down 13.3% year-over-year.
• The company's stock has seen various changes in analyst ratings, with price targets being raised by multiple firms, indicating a consensus of a Moderate Buy with an average target of $76.58.

AG2R LA Mondiale Gestion D Actifs bought a new position in shares of Microchip Technology Incorporated (NASDAQ:MCHP - Free Report) during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 22,502 shares of the semiconductor company's stock, valued at approximately $1,089,000.

Other institutional investors also recently modified their holdings of the company. Garde Capital Inc. acquired a new position in shares of Microchip Technology during the first quarter worth approximately $30,000. WPG Advisers LLC acquired a new position in shares of Microchip Technology during the first quarter worth approximately $40,000. Orion Capital Management LLC acquired a new position in shares of Microchip Technology during the fourth quarter worth approximately $41,000. Byrne Asset Management LLC acquired a new position in shares of Microchip Technology during the first quarter worth approximately $41,000. Finally, GW&K Investment Management LLC raised its position in shares of Microchip Technology by 161.0% during the first quarter. GW&K Investment Management LLC now owns 937 shares of the semiconductor company's stock worth $45,000 after purchasing an additional 578 shares during the period. 91.51% of the stock is owned by institutional investors and hedge funds.

Microchip Technology Trading Down 1.7%

Shares of MCHP stock traded down $1.11 during trading hours on Friday, reaching $65.15. The company's stock had a trading volume of 13,346,423 shares, compared to its average volume of 7,494,503. The stock has a market capitalization of $35.16 billion, a P/E ratio of -191.62, a P/E/G ratio of 1.90 and a beta of 1.56. Microchip Technology Incorporated has a one year low of $34.13 and a one year high of $81.64. The firm's fifty day simple moving average is $67.21 and its 200 day simple moving average is $59.89. The company has a current ratio of 2.31, a quick ratio of 1.33 and a debt-to-equity ratio of 0.80.

Microchip Technology (NASDAQ:MCHP - Get Free Report) last issued its quarterly earnings data on Thursday, August 7th. The semiconductor company reported $0.27 earnings per share for the quarter, topping analysts' consensus estimates of $0.24 by $0.03. The firm had revenue of $1.08 billion for the quarter, compared to analyst estimates of $1.05 billion. Microchip Technology had a positive return on equity of 6.24% and a negative net margin of 3.50%.The business's quarterly revenue was down 13.3% compared to the same quarter last year. During the same period last year, the company earned $0.53 EPS. Microchip Technology has set its Q2 2026 guidance at 0.340-0.370 EPS. Equities research analysts expect that Microchip Technology Incorporated will post 1.03 EPS for the current 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 given a dividend of $0.455 per share. The ex-dividend date was Friday, August 22nd. This represents a $1.82 annualized dividend and a dividend yield of 2.8%. Microchip Technology's payout ratio is currently -535.29%.

Insider Activity at Microchip Technology

In related news, Director Matthew W. Chapman sold 10,000 shares of Microchip Technology stock in a transaction that occurred on Monday, August 25th. The stock was sold at an average price of $68.25, for a total transaction of $682,500.00. Following the sale, the director directly owned 30,665 shares in the company, valued at $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 SEC, which is available through this hyperlink. Also, CFO James Eric Bjornholt sold 7,356 shares of Microchip Technology stock in a transaction that occurred on Monday, August 25th. The shares were sold at an average price of $68.72, for a total value of $505,504.32. Following the sale, the chief financial officer owned 30,010 shares in the company, valued at $2,062,287.20. This represents a 19.69% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 1.94% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on MCHP. Wells Fargo & Company started coverage on Microchip Technology in a research note on Monday. They issued an "equal weight" rating and a $60.00 price objective for the company. Stifel Nicolaus raised their target price on Microchip Technology from $70.00 to $82.00 and gave the stock a "buy" rating in a research note on Friday, July 18th. Piper Sandler raised their target price on Microchip Technology from $65.00 to $80.00 and gave the stock an "overweight" rating in a research note on Friday, August 8th. TD Cowen cut their target price on Microchip Technology from $75.00 to $60.00 and set a "hold" rating for the company in a research note on Friday, August 8th. Finally, Evercore ISI raised their price target on Microchip Technology from $69.00 to $83.00 and gave the company an "outperform" rating in a report on Thursday, June 12th. One 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. According to MarketBeat.com, Microchip Technology currently has a consensus rating of "Moderate Buy" and an average target price of $75.75.

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.