Lecap Asset Management Ltd. Invests $2.07 Million in Microchip Technology Incorporated $MCHP

Key Points

• Lecap Asset Management Ltd. invested approximately $2.07 million in Microchip Technology, acquiring 29,371 shares of the company during the 2nd quarter, making it the firm's 25th largest holding.
• Institutional investors own about 91.51% of Microchip Technology's stock, with significant increases in holdings from several large investors, including First Citizens Bank & Trust Co. which raised its stake by 468.2%.
• Microchip Technology's recent quarterly earnings surpassed analyst expectations, reporting $1.08 billion in revenue and $0.27 EPS, though revenue was down 13.3% year-over-year.

Lecap Asset Management Ltd. purchased a new position in shares of Microchip Technology Incorporated (NASDAQ:MCHP - Free Report) during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 29,371 shares of the semiconductor company's stock, valued at approximately $2,067,000. Microchip Technology comprises approximately 0.7% of Lecap Asset Management Ltd.'s investment portfolio, making the stock its 25th largest holding.

Other large investors have also modified their holdings of the company. First Citizens Bank & Trust Co. lifted its position in shares of Microchip Technology by 468.2% during the first quarter. First Citizens Bank & Trust Co. now owns 73,737 shares of the semiconductor company's stock worth $3,570,000 after purchasing an additional 60,760 shares during the last quarter. Everhart Financial Group Inc. acquired a new stake in Microchip Technology during the first quarter worth about $221,000. Sowell Financial Services LLC acquired a new stake in Microchip Technology during the first quarter worth about $318,000. Thompson Investment Management Inc. raised its stake in Microchip Technology by 9.9% during the first quarter. Thompson Investment Management Inc. now owns 91,016 shares of the semiconductor company's stock worth $4,406,000 after acquiring an additional 8,175 shares during the period. Finally, Oppenheimer Asset Management Inc. raised its stake in Microchip Technology by 35.8% during the first quarter. Oppenheimer Asset Management Inc. now owns 33,554 shares of the semiconductor company's stock worth $1,624,000 after acquiring an additional 8,843 shares during the period. Institutional investors own 91.51% of the company's stock.

Insider Buying and Selling

In other Microchip Technology news, CFO James Eric Bjornholt sold 7,356 shares of the stock in a transaction that occurred on Monday, August 25th. The shares were sold at an average price of $68.72, for a total value of $505,504.32. Following the completion of the sale, the chief financial officer owned 30,010 shares in the company, valued at $2,062,287.20. This represents a 19.69% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Matthew W. Chapman sold 10,000 shares of the stock in a transaction that occurred on Monday, August 25th. The stock was sold at an average price of $68.25, for a total transaction of $682,500.00. Following the completion of the sale, the director owned 30,665 shares of the company's stock, 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. Company insiders own 1.94% of the company's stock.

Microchip Technology Trading Down 0.2%

Microchip Technology stock opened at $64.11 on Thursday. The company has a 50 day moving average price of $65.76 and a 200 day moving average price of $60.42. Microchip Technology Incorporated has a 52 week low of $34.13 and a 52 week high of $79.53. 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 $34.60 billion, a price-to-earnings ratio of -188.56, a P/E/G ratio of 1.84 and a beta of 1.55.

Microchip Technology (NASDAQ:MCHP - Get Free Report) last posted its quarterly earnings data on Thursday, August 7th. The semiconductor company reported $0.27 EPS for the quarter, topping analysts' consensus estimates 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 firm had revenue of $1.08 billion during the quarter, compared to analyst estimates of $1.05 billion. During the same quarter last year, the business posted $0.53 EPS. The company's revenue was down 13.3% on a year-over-year basis. Microchip Technology has set its Q2 2026 guidance at 0.340-0.370 EPS. Research analysts forecast that Microchip Technology Incorporated will post 1.03 EPS for the current year.

Microchip Technology Dividend Announcement

The company also recently disclosed 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 dividend payout ratio (DPR) is currently -535.29%.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on the stock. UBS Group increased their price objective on shares of Microchip Technology from $65.00 to $85.00 and gave the stock a "buy" rating in a research note on Monday, July 7th. Raymond James Financial raised their price target on shares of Microchip Technology from $65.00 to $75.00 and gave the company a "strong-buy" rating in a research note on Friday, August 8th. Mizuho raised their price target on shares of Microchip Technology from $78.00 to $85.00 and gave the company an "outperform" rating in a research note on Tuesday, July 8th. Piper Sandler raised their price target on shares of Microchip Technology from $65.00 to $80.00 and gave the company an "overweight" rating in a research note on Friday, August 8th. Finally, Evercore ISI raised their price target on shares of Microchip Technology from $69.00 to $83.00 and gave the company an "outperform" rating in a research note on Thursday, June 12th. One analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and seven have assigned a Hold rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $75.75.

Microchip Technology 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.

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