Andra AP fonden Raises Stock Position in Microchip Technology Incorporated $MCHP

Andra AP fonden grew its holdings in shares of Microchip Technology Incorporated (NASDAQ:MCHP - Free Report) by 1,262.1% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 64,646 shares of the semiconductor company's stock after buying an additional 59,900 shares during the quarter. Andra AP fonden's holdings in Microchip Technology were worth $5,896,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Resonant Capital Advisors LLC grew its holdings in Microchip Technology by 0.9% in the 1st quarter. Resonant Capital Advisors LLC now owns 12,542 shares of the semiconductor company's stock valued at $810,000 after buying an additional 118 shares in the last quarter. Apella Capital LLC lifted its holdings in shares of Microchip Technology by 4.8% during the second quarter. Apella Capital LLC now owns 2,669 shares of the semiconductor company's stock worth $225,000 after buying an additional 122 shares in the last quarter. Bridgewater Advisors Inc. boosted its position in shares of Microchip Technology by 4.2% in the second quarter. Bridgewater Advisors Inc. now owns 3,331 shares of the semiconductor company's stock valued at $304,000 after acquiring an additional 133 shares during the period. MCF Advisors LLC boosted its position in shares of Microchip Technology by 25.8% in the fourth quarter. MCF Advisors LLC now owns 659 shares of the semiconductor company's stock valued at $42,000 after acquiring an additional 135 shares during the period. Finally, Gagnon Securities LLC boosted its position in shares of Microchip Technology by 0.5% in the fourth quarter. Gagnon Securities LLC now owns 27,162 shares of the semiconductor company's stock valued at $1,731,000 after acquiring an additional 137 shares during the period. Institutional investors own 91.51% of the company's stock.

Wall Street Analysts Forecast Growth

MCHP has been the topic of a number of recent research reports. Wells Fargo & Company lowered their price target on shares of Microchip Technology from $95.00 to $88.00 and set an "equal weight" rating on the stock in a research report on Monday, July 20th. Citigroup cut their price objective on shares of Microchip Technology from $113.00 to $95.00 and set a "buy" rating for the company in a report on Friday, August 7th. UBS Group restated a "buy" rating and set a $120.00 target price (down from $130.00) on shares of Microchip Technology in a research report on Friday, August 7th. Cantor Fitzgerald reaffirmed an "overweight" rating on shares of Microchip Technology in a report on Wednesday, September 9th. Finally, Zacks Research downgraded shares of Microchip Technology from a "strong-buy" rating to a "hold" rating in a research report on Monday, August 17th. Three investment analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and eight have given a Hold rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $98.67.

Microchip Technology Price Performance

Shares of NASDAQ:MCHP opened at $75.53 on Thursday. The firm has a 50 day moving average of $76.18 and a 200-day moving average of $81.04. The stock has a market capitalization of $41.01 billion, a PE ratio of 112.73, a PEG ratio of 0.53 and a beta of 1.75. The company has a current ratio of 1.92, a quick ratio of 1.11 and a debt-to-equity ratio of 0.83. Microchip Technology Incorporated has a 12 month low of $48.52 and a 12 month high of $105.91.

Microchip Technology (NASDAQ:MCHP - Get Free Report) last posted its quarterly earnings results on Thursday, August 6th. The semiconductor company reported $0.76 earnings per share (EPS) for the quarter, topping 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 analyst estimates of $1.46 billion. During the same quarter last year, the business posted $0.27 EPS. The firm'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. On average, equities research analysts predict that Microchip Technology Incorporated will post 3.16 EPS for the current fiscal year.

Microchip Technology Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, September 9th. Shareholders of record on Monday, August 24th were given a $0.455 dividend. This represents a $1.82 dividend on an annualized basis and a yield of 2.4%. The ex-dividend date was Monday, August 24th. Microchip Technology's payout ratio is currently 271.64%.

Insider Buying and Selling

In other news, CFO James Bjornholt sold 4,112 shares of the 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 completion of the transaction, the chief financial officer owned 28,573 shares of the company's stock, valued at approximately $2,152,118.36. This 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 can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 1.79% of the company's stock.

About Microchip Technology

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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