Jackson Square Capital LLC Purchases Shares of 24,865 Microchip Technology Incorporated $MCHP

Key Points

• Jackson Square Capital LLC has acquired a new stake in Microchip Technology, purchasing 24,865 shares valued at approximately $1,750,000 during the second quarter.
• Microchip Technology's stock has recently received positive upgrades from multiple analysts, with target prices raised to as high as $90.00 by Susquehanna.
• The company reported earnings of $0.27 EPS for the last quarter, exceeding expectations, but experienced a **year-over-year revenue decline** of 13.3%.

Jackson Square Capital LLC acquired a new stake in shares of Microchip Technology Incorporated (NASDAQ:MCHP - Free Report) during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm acquired 24,865 shares of the semiconductor company's stock, valued at approximately $1,750,000.

Other hedge funds have also made changes to their positions in the company. Garde Capital Inc. acquired a new position in shares of Microchip Technology during the first quarter valued at approximately $30,000. Orion Capital Management LLC acquired a new position in Microchip Technology in the fourth quarter worth approximately $41,000. WPG Advisers LLC acquired a new position in Microchip Technology in the first quarter worth approximately $40,000. Byrne Asset Management LLC acquired a new position in Microchip Technology in the first quarter worth approximately $41,000. Finally, GW&K Investment Management LLC grew its position in Microchip Technology by 161.0% in the first quarter. GW&K Investment Management LLC now owns 937 shares of the semiconductor company's stock worth $45,000 after buying an additional 578 shares during the last quarter. Institutional investors and hedge funds own 91.51% of the company's stock.

Wall Street Analyst Weigh In

Several research analysts have issued reports on the stock. Citigroup lifted their price target on shares of Microchip Technology from $68.00 to $90.00 and gave the stock a "buy" rating in a research report on Monday, July 7th. KeyCorp lifted their price target on shares of Microchip Technology from $70.00 to $85.00 and gave the stock an "overweight" rating in a research report on Tuesday, July 8th. Raymond James Financial lifted their price target on shares of Microchip Technology from $65.00 to $75.00 and gave the stock a "strong-buy" rating in a research report on Friday, August 8th. Needham & Company LLC lifted their price objective on shares of Microchip Technology from $66.00 to $77.00 and gave the stock a "buy" rating in a research report on Friday, August 8th. Finally, The Goldman Sachs Group initiated coverage on shares of Microchip Technology in a research report on Thursday, July 10th. They set a "buy" rating and a $88.00 price objective on the stock. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and seven have given a Hold rating to the company. According to MarketBeat, Microchip Technology has an average rating of "Moderate Buy" and an average price target of $75.75.

Insider Transactions at Microchip Technology

In related news, CFO James Eric Bjornholt sold 7,356 shares of the company's stock in a transaction dated Monday, August 25th. The shares were sold at an average price of $68.72, for a total value of $505,504.32. Following the sale, the chief financial officer owned 30,010 shares of the company's stock, valued at $2,062,287.20. The trade was a 19.69% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Matthew W. Chapman sold 10,000 shares of the company's stock in a transaction dated Monday, August 25th. The shares were sold at an average price of $68.25, for a total transaction of $682,500.00. Following the completion of the sale, the director directly owned 30,665 shares in the company, valued at approximately $2,092,886.25. The trade was a 24.59% decrease in their position. The disclosure for this sale can be found here. Insiders own 1.94% of the company's stock.

Microchip Technology Stock Performance

Shares of NASDAQ:MCHP traded down $1.11 on Friday, hitting $65.15. 13,346,423 shares of the company were exchanged, compared to its average volume of 7,494,503. The company's 50 day moving average price is $67.21 and its two-hundred day moving average price is $59.89. Microchip Technology Incorporated has a one year low of $34.13 and a one year high of $81.64. The company has a debt-to-equity ratio of 0.80, a quick ratio of 1.33 and a current ratio of 2.31. The firm has a market capitalization of $35.16 billion, a price-to-earnings ratio of -191.62, a PEG ratio of 1.87 and a beta of 1.56.

Microchip Technology (NASDAQ:MCHP - Get Free Report) last posted its quarterly earnings data on Thursday, August 7th. The semiconductor company reported $0.27 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.24 by $0.03. Microchip Technology had a negative net margin of 3.50% and a positive return on equity of 6.24%. The company had revenue of $1.08 billion for the quarter, compared to the consensus estimate of $1.05 billion. During the same quarter in the previous year, the firm posted $0.53 EPS. The business's revenue was down 13.3% compared to the same quarter last year. Microchip Technology has set its Q2 2026 guidance at 0.340-0.370 EPS. Research analysts expect that Microchip Technology Incorporated will post 1.03 earnings per share for the current year.

Microchip Technology Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, September 5th. Investors of record on Friday, August 22nd were paid a $0.455 dividend. The ex-dividend date of this dividend was Friday, August 22nd. This represents a $1.82 dividend on an annualized basis and a yield of 2.8%. Microchip Technology's payout ratio is presently -535.29%.

Microchip Technology Company Profile

Microchip Technology Incorporated engages in the development, manufacture, and sale of smart, connected, and secure embedded control solutions in the Americas, Europe, and Asia. The company offers general purpose 8-bit, 16-bit, and 32-bit mixed-signal microcontrollers; 32-bit embedded mixed-signal microprocessors; and specialized microcontrollers for automotive, industrial, computing, communications, lighting, power supplies, motor control, human machine interface, security, wired connectivity, and wireless connectivity applications.