Beacon Pointe Advisors LLC Makes New $5.16 Million Investment in Microchip Technology Incorporated $MCHP

Beacon Pointe Advisors LLC acquired a new stake in Microchip Technology Incorporated (NASDAQ:MCHP - Free Report) during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm acquired 56,651 shares of the semiconductor company's stock, valued at approximately $5,164,000.

A number of other hedge funds have also recently made changes to their positions in the business. EFG International AG bought a new stake in Microchip Technology during the 4th quarter worth approximately $29,000. Miller Capital Partners Inc. purchased a new stake in shares of Microchip Technology in the fourth quarter worth approximately $29,000. Continuum Advisory LLC bought a new position in shares of Microchip Technology in the second quarter valued at approximately $30,000. Johnson Financial Group Inc. bought a new position in shares of Microchip Technology in the second quarter valued at approximately $31,000. Finally, Reflection Asset Management purchased a new position in shares of Microchip Technology during the fourth quarter valued at approximately $33,000. 91.51% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on MCHP shares. Rosenblatt Securities reiterated a "buy" rating and set a $120.00 price target on shares of Microchip Technology in a report on Friday, August 7th. Needham & Company LLC raised their price objective on Microchip Technology from $84.00 to $120.00 and gave the company a "buy" rating in a research note on Friday, May 8th. Zacks Research downgraded shares of Microchip Technology from a "strong-buy" rating to a "hold" rating in a report on Monday, August 17th. Barclays upped their target price on shares of Microchip Technology from $80.00 to $105.00 and gave the stock an "equal weight" rating in a research note on Monday, May 11th. Finally, Wall Street Zen upgraded shares of Microchip Technology from a "hold" rating to a "buy" rating in a report on Saturday, May 9th. Three equities research analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating and eight have assigned a Hold rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $98.67.

Microchip Technology Trading Down 3.4%

Shares of Microchip Technology stock opened at $72.93 on Friday. The firm has a market cap of $39.60 billion, a PE ratio of 108.85, a P/E/G ratio of 0.51 and a beta of 1.76. Microchip Technology Incorporated has a 1 year low of $48.52 and a 1 year high of $105.91. The company has a debt-to-equity ratio of 0.83, a current ratio of 1.92 and a quick ratio of 1.11. The stock has a fifty day moving average price of $81.90 and a 200-day moving average price of $81.37.

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, beating the consensus estimate of $0.70 by $0.06. The company had revenue of $1.48 billion during the quarter, compared to analyst estimates of $1.46 billion. Microchip Technology had a net margin of 9.34% and a return on equity of 14.97%. The firm's revenue for the quarter was up 38.0% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.27 earnings per share. Microchip Technology has set its Q2 2027 guidance at 0.910-0.950 EPS. Equities research analysts anticipate that Microchip Technology Incorporated will post 3.16 EPS for the current year.

Microchip Technology Dividend Announcement

The business 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. The ex-dividend date is Monday, August 24th. This represents a $1.82 annualized dividend and a dividend yield of 2.5%. Microchip Technology's dividend payout ratio (DPR) is presently 271.64%.

Insider Activity at Microchip Technology

In other Microchip Technology news, CFO James Eric Bjornholt sold 4,112 shares of the stock in a transaction on Tuesday, August 25th. The stock was sold at an average price of $75.32, for a total transaction of $309,715.84. Following the completion of the transaction, the chief financial officer directly 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, COO Richard J. Simoncic sold 5,000 shares of the business's stock in a transaction on Thursday, June 4th. The shares were 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 in the company, valued at approximately $12,727,140.16. The trade was a 3.69% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders have sold 9,949 shares of company stock valued at $864,493. 1.79% of the stock is currently owned by company insiders.

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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