Commerce Bank Acquires Shares of 139,633 Microchip Technology Incorporated $MCHP

Key Points

• Commerce Bank acquired 139,633 shares of Microchip Technology in the second quarter, valued at approximately $12.7 million. Institutional investors collectively own 91.51% of the company.
• Microchip reported quarterly earnings of $0.76 per share, exceeding the $0.70 consensus estimate, while revenue rose 38% year over year to $1.48 billion.
• Analysts maintain a generally positive outlook, with a consensus “Moderate Buy” rating and an average price target of $98.67, compared with the stock’s reported price of $76.08.

Commerce Bank acquired a new position in Microchip Technology Incorporated (NASDAQ:MCHP - Free Report) in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 139,633 shares of the semiconductor company's stock, valued at approximately $12,735,000.

Other large investors have also recently modified their holdings of the company. Norges Bank purchased a new stake in Microchip Technology in the fourth quarter worth about $664,564,000. Barclays PLC grew its holdings in shares of Microchip Technology by 66.5% during the 4th quarter. Barclays PLC now owns 13,996,883 shares of the semiconductor company's stock worth $891,881,000 after acquiring an additional 5,590,210 shares during the period. Rafferty Asset Management LLC raised 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 acquiring an additional 1,803,945 shares in the last quarter. Ameriprise Financial Inc. lifted 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 period. Finally, Worldquant Millennium Advisors LLC bought a new stake in shares of Microchip Technology during the second quarter valued at approximately $101,359,000. Institutional investors own 91.51% of the company's stock.

Insider Buying and Selling

In related news, COO Richard J. Simoncic sold 5,000 shares of the company's stock in a transaction that occurred on Thursday, June 4th. The stock was sold at an average price of $97.52, for a total value of $487,600.00. Following the transaction, the chief operating officer directly owned 130,508 shares of the company's stock, valued at approximately $12,727,140.16. This represents a 3.69% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CFO James Eric Bjornholt sold 837 shares of the stock in a transaction on Monday, August 17th. The shares were sold at an average price of $80.26, for a total value of $67,177.62. Following the sale, the chief financial officer owned 30,960 shares in the company, valued at approximately $2,484,849.60. This represents a 2.63% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 8,837 shares of company stock worth $847,338 in the last three months. Insiders own 1.79% of the company's stock.

Microchip Technology Stock Performance

Shares of MCHP stock opened at $76.08 on Friday. Microchip Technology Incorporated has a one year low of $48.52 and a one year high of $105.91. The company's 50-day moving average is $84.29 and its 200 day moving average is $81.49. The company has a market capitalization of $41.31 billion, a price-to-earnings ratio of 113.55, a price-to-earnings-growth ratio of 0.53 and a beta of 1.76. The company has a debt-to-equity ratio of 0.83, a quick ratio of 1.11 and a current ratio of 1.92.

Microchip Technology (NASDAQ:MCHP - Get Free Report) last released its quarterly earnings data on Thursday, August 6th. The semiconductor company reported $0.76 earnings per share for the quarter, beating analysts' consensus estimates of $0.70 by $0.06. The business 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%. Microchip Technology's revenue was up 38.0% compared to the same quarter last year. During the same period last year, the business earned $0.27 EPS. Microchip Technology has set its Q2 2027 guidance at 0.910-0.950 EPS. Sell-side analysts expect that Microchip Technology Incorporated will post 3.16 EPS for the current fiscal year.

Microchip Technology Announces Dividend

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

Wall Street Analysts Forecast Growth

MCHP has been the subject of several recent research reports. UBS Group reissued a "buy" rating and set a $120.00 price objective (down from $130.00) on shares of Microchip Technology in a research report on Friday, August 7th. Susquehanna upped their target price on shares of Microchip Technology from $95.00 to $120.00 and gave the stock a "positive" rating in a research report on Friday, May 8th. JPMorgan Chase & Co. increased their price target on shares of Microchip Technology from $95.00 to $120.00 and gave the stock an "overweight" rating in a research note on Friday, May 8th. Rosenblatt Securities reissued a "buy" rating and set a $120.00 price objective on shares of Microchip Technology in a research note on Friday, August 7th. Finally, Cantor Fitzgerald restated an "overweight" rating and issued a $125.00 price objective on shares of Microchip Technology in a report on Monday, August 17th. Three analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and eight have given a Hold rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $98.67.

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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