Ancora Advisors LLC Makes New Investment in Microchip Technology Incorporated $MCHP

Ancora Advisors LLC acquired a new stake in Microchip Technology Incorporated (NASDAQ:MCHP - Free Report) in the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor acquired 13,802 shares of the semiconductor company's stock, valued at approximately $1,259,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in MCHP. Continuum Advisory LLC acquired a new position in shares of Microchip Technology in the 2nd quarter worth approximately $30,000. Johnson Financial Group Inc. bought a new position in shares of Microchip Technology during the 2nd quarter worth approximately $31,000. Rakuten Securities Inc. acquired a new stake in Microchip Technology in the 2nd quarter valued at $34,000. EFG International AG bought a new stake in Microchip Technology in the fourth quarter valued at $29,000. Finally, Miller Capital Partners Inc. bought a new stake in Microchip Technology in the fourth quarter valued at $29,000. 91.51% of the stock is owned by institutional investors.

Insider Buying and Selling at Microchip Technology

In related news, CFO James Eric Bjornholt sold 4,112 shares of the firm's stock in a transaction dated Tuesday, August 25th. The stock was sold at an average price of $75.32, for a total value of $309,715.84. Following the transaction, the chief financial officer owned 28,573 shares in the company, valued at $2,152,118.36. This trade represents a 12.58% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, COO Richard J. Simoncic sold 5,000 shares of Microchip Technology stock in a transaction dated Thursday, June 4th. The stock was sold at an average price of $97.52, for a total value of $487,600.00. Following the completion of the sale, the chief operating officer owned 130,508 shares of the company's stock, valued at approximately $12,727,140.16. The trade was a 3.69% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 9,949 shares of company stock worth $864,493 in the last ninety days. 1.79% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of research analysts have issued reports on MCHP shares. Truist Financial cut their price objective on Microchip Technology from $105.00 to $90.00 and set a "hold" rating for the company in a report on Friday, August 7th. Citigroup lowered their target price on shares of Microchip Technology from $113.00 to $95.00 and set a "buy" rating on the stock in a report on Friday, August 7th. Weiss Ratings upgraded shares of Microchip Technology from a "hold (c-)" rating to a "hold (c)" rating in a research report on Tuesday, August 11th. UBS Group reissued a "buy" rating and set a $120.00 price target (down from $130.00) on shares of Microchip Technology in a report on Friday, August 7th. Finally, Zacks Research lowered shares of Microchip Technology from a "strong-buy" rating to a "hold" rating in a research report on Monday, August 17th. Three equities 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 MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $98.67.

Microchip Technology Trading Up 1.9%

MCHP opened at $75.49 on Friday. Microchip Technology Incorporated has a 1-year low of $48.52 and a 1-year high of $105.91. The stock has a market capitalization of $40.99 billion, a PE ratio of 112.67, a PEG ratio of 0.52 and a beta of 1.76. 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 firm has a 50-day moving average price of $82.44 and a two-hundred day moving average price of $81.43.

Microchip Technology (NASDAQ:MCHP - Get Free Report) last released its quarterly earnings results on Thursday, August 6th. The semiconductor company reported $0.76 EPS for the quarter, beating the consensus estimate of $0.70 by $0.06. Microchip Technology had a net margin of 9.34% and a return on equity of 14.97%. The business had revenue of $1.48 billion for the quarter, compared to analysts' expectations of $1.46 billion. During the same period in the prior year, the firm earned $0.27 earnings per share. Microchip Technology's 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 3.16 earnings per share for the current fiscal year.

Microchip Technology Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, September 9th. Stockholders of record on Monday, August 24th will be paid a dividend of $0.455 per share. This represents a $1.82 annualized dividend and a dividend yield of 2.4%. The ex-dividend date of this dividend is Monday, August 24th. Microchip Technology's dividend payout ratio is 271.64%.

Microchip Technology Company Profile

Microchip Technology Inc is a semiconductor company headquartered in Chandler, Arizona, that designs, develops and supplies a broad portfolio of embedded control and analog semiconductors. Its product lineup centers on microcontrollers (including the well-known PIC family), digital signal controllers and associated development tools and software, along with a range of mixed-signal and analog devices, nonvolatile memory, power management, timing, interface, wireless and security products. The company also provides integrated hardware and software solutions intended to simplify embedded design and accelerate time to market for OEMs and contract manufacturers.

Microchip's products are used across a wide range of end markets, including automotive, industrial automation, consumer electronics, communications, aerospace and defense, and Internet of Things (IoT) applications.

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