J. Goldman & Co LP Makes New Investment in Microchip Technology Incorporated $MCHP

J. Goldman & Co LP purchased a new position in Microchip Technology Incorporated (NASDAQ:MCHP - Free Report) in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 52,835 shares of the semiconductor company's stock, valued at approximately $4,819,000.

A number of other hedge funds have also recently made changes to their positions in the stock. Wolverine Asset Management LLC raised its stake in shares of Microchip Technology by 3,833.7% during the 4th quarter. Wolverine Asset Management LLC now owns 37,921 shares of the semiconductor company's stock worth $2,416,000 after acquiring an additional 36,957 shares in the last quarter. Vienna Powszechne Towarzystwo Emerytalne S.A. Vienna Insurance Group acquired a new position in shares of Microchip Technology during the fourth quarter worth $6,691,000. Epoch Investment Partners Inc. boosted its position in shares of Microchip Technology by 16.5% in the 4th quarter. Epoch Investment Partners Inc. now owns 1,349,136 shares of the semiconductor company's stock worth $85,967,000 after purchasing an additional 191,339 shares in the last quarter. Peregrine Investment Management Inc. acquired a new stake in shares of Microchip Technology in the 1st quarter worth $5,492,000. Finally, Norges Bank acquired a new position in Microchip Technology during the 4th quarter valued at about $664,564,000. 91.51% of the stock is currently owned by hedge funds and other institutional investors.

Microchip Technology Trading Down 1.0%

Microchip Technology stock opened at $73.50 on Wednesday. The firm has a market cap of $39.91 billion, a PE ratio of 109.70, a P/E/G ratio of 0.52 and a beta of 1.76. Microchip Technology Incorporated has a 12 month low of $48.52 and a 12 month high of $105.91. The stock's 50 day simple moving average is $83.33 and its two-hundred day simple moving average is $81.46. 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 (NASDAQ:MCHP - Get Free Report) last posted its 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 firm 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 business's quarterly revenue was up 38.0% on a year-over-year basis. During the same period in the previous year, the firm earned $0.27 EPS. Microchip Technology has set its Q2 2027 guidance at 0.910-0.950 EPS. Analysts anticipate that Microchip Technology Incorporated will post 3.16 earnings per share for the current year.

Microchip Technology Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 9th. Shareholders 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 yield of 2.5%. The ex-dividend date is Monday, August 24th. Microchip Technology's payout ratio is 271.64%.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on the company. Zacks Research lowered Microchip Technology from a "strong-buy" rating to a "hold" rating in a research note on Monday, August 17th. Truist Financial cut their price target on shares of Microchip Technology from $105.00 to $90.00 and set a "hold" rating on the stock in a research note on Friday, August 7th. Cantor Fitzgerald restated an "overweight" rating and issued a $125.00 target price on shares of Microchip Technology in a research note on Monday, August 17th. Needham & Company LLC upped their target price on Microchip Technology from $84.00 to $120.00 and gave the company a "buy" rating in a research report on Friday, May 8th. Finally, BMO Capital Markets started coverage on shares of Microchip Technology in a research report on Friday, August 21st. They set an "outperform" rating and a $95.00 price target for the company. Three equities research 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 stock. According to data from MarketBeat, Microchip Technology has a consensus rating of "Moderate Buy" and a consensus target price of $98.67.

Insider Buying and Selling at Microchip Technology

In other news, CFO James Eric Bjornholt sold 837 shares of Microchip Technology stock in a transaction that occurred on Monday, August 17th. The stock was sold at an average price of $80.26, for a total value of $67,177.62. Following the sale, the chief financial officer directly owned 30,960 shares of the company's stock, valued at $2,484,849.60. The trade was a 2.63% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, COO Richard J. Simoncic sold 5,000 shares of the company's stock in a transaction on Thursday, June 4th. The stock was sold at an average price of $97.52, for a total transaction of $487,600.00. Following the sale, the chief operating officer directly owned 130,508 shares of the company's stock, valued at $12,727,140.16. The trade was a 3.69% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 8,837 shares of company stock valued at $847,338 over the last quarter. 1.79% of the stock is currently owned by insiders.

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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