Asset Management One Co. Ltd. Buys 24,365 Shares of Microchip Technology Incorporated $MCHP

Key Points

• Asset Management One increased its Microchip Technology stake by 10.9% in the second quarter, acquiring 24,365 shares to reach 248,341 shares valued at approximately $22.6 million. Institutional investors collectively own 91.51% of the company.
• Microchip reported quarterly EPS of $0.76 and revenue of $1.48 billion, exceeding analyst expectations, while revenue rose 38% year over year. Analysts maintain a consensus “Moderate Buy” rating with an average price target of $98.85.
• Company insiders sold 16,667 shares worth about $1.58 million over the past 90 days. Microchip also declared a quarterly dividend of $0.455 per share, representing an annualized yield of approximately 2.3%.

Asset Management One Co. Ltd. increased its stake in Microchip Technology Incorporated (NASDAQ:MCHP - Free Report) by 10.9% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 248,341 shares of the semiconductor company's stock after acquiring an additional 24,365 shares during the quarter. Asset Management One Co. Ltd.'s holdings in Microchip Technology were worth $22,649,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the stock. Norges Bank acquired a new stake in Microchip Technology during the 4th quarter valued at approximately $664,564,000. Barclays PLC lifted its position in shares of Microchip Technology by 66.5% in the 4th quarter. Barclays PLC now owns 13,996,883 shares of the semiconductor company's stock worth $891,881,000 after purchasing an additional 5,590,210 shares during the period. Rafferty Asset Management LLC lifted its position in shares of Microchip Technology by 41.0% in the 2nd quarter. Rafferty Asset Management LLC now owns 6,203,762 shares of the semiconductor company's stock worth $436,559,000 after purchasing an additional 1,803,945 shares during the period. Ameriprise Financial Inc. boosted its stake in shares of Microchip Technology by 255.7% in the 2nd quarter. Ameriprise Financial Inc. now owns 2,135,140 shares of the semiconductor company's stock valued at $150,271,000 after purchasing an additional 1,534,829 shares during the last quarter. Finally, Worldquant Millennium Advisors LLC bought a new stake in shares of Microchip Technology in the 2nd quarter valued at $101,359,000. 91.51% of the stock is currently owned by institutional investors.

Insider Transactions at Microchip Technology

In other Microchip Technology news, COO Richard J. Simoncic sold 5,000 shares of the company's stock in a transaction on Thursday, June 4th. The shares were sold at an average price of $97.52, for a total transaction of $487,600.00. Following the transaction, the chief operating officer owned 130,508 shares in the company, valued at approximately $12,727,140.16. This represents a 3.69% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CFO James Eric Bjornholt sold 3,667 shares of the firm's stock in a transaction on Friday, May 22nd. The shares were sold at an average price of $90.87, for a total transaction of $333,220.29. Following the completion of the transaction, the chief financial officer directly owned 28,573 shares in the company, valued at $2,596,428.51. This trade represents a 11.37% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 16,667 shares of company stock valued at $1,580,580 over the last ninety days. 1.79% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of brokerages recently weighed in on MCHP. Rosenblatt Securities reissued a "buy" rating and set a $120.00 target price on shares of Microchip Technology in a research note on Friday, August 7th. Citigroup cut their target price on Microchip Technology from $113.00 to $95.00 and set a "buy" rating on the stock in a research report on Friday, August 7th. JPMorgan Chase & Co. boosted their price target on Microchip Technology from $95.00 to $120.00 and gave the company an "overweight" rating in a research note on Friday, May 8th. Needham & Company LLC increased their price target on Microchip Technology from $84.00 to $120.00 and gave the stock a "buy" rating in a report on Friday, May 8th. Finally, Barclays raised their price objective on shares of Microchip Technology from $80.00 to $105.00 and gave the stock an "equal weight" rating in a research report on Monday, May 11th. Three equities research analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and seven have issued a Hold rating to the company's stock. According to MarketBeat.com, Microchip Technology has a consensus rating of "Moderate Buy" and an average price target of $98.85.

Microchip Technology Stock Performance

Shares of MCHP opened at $77.69 on Friday. Microchip Technology Incorporated has a one year low of $48.52 and a one year high of $105.91. The company has a market cap of $42.19 billion, a PE ratio of 115.96, a P/E/G ratio of 0.62 and a beta of 1.76. The stock has a 50-day moving average of $85.90 and a 200-day moving average of $81.49. The company has a debt-to-equity ratio of 0.83, a current ratio of 1.92 and a quick ratio of 1.11.

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 for the quarter, topping analysts' consensus estimates of $0.70 by $0.06. The business had revenue of $1.48 billion for the quarter, compared to the consensus estimate of $1.46 billion. Microchip Technology had a return on equity of 14.97% and a net margin of 9.34%.The firm's revenue for the quarter was up 38.0% on a year-over-year basis. During the same period in the prior year, the business earned $0.27 EPS. 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 2.81 EPS for the current fiscal year.

Microchip Technology Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 9th. Stockholders of record on Monday, August 24th will be given a dividend of $0.455 per share. This represents a $1.82 dividend on an annualized basis and a dividend yield of 2.3%. The ex-dividend date of this dividend is Monday, August 24th. Microchip Technology's dividend payout ratio is presently 271.64%.

Microchip Technology 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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