Microchip Technology Incorporated $MCHP Shares Newly Bought by Mirae Asset Global Investments Co. Ltd.

Key Points

• Mirae Asset Global Investments established a new position of 1.21 million Microchip Technology shares worth approximately $94.3 million, while institutional investors collectively own 91.51% of the company.
• Analysts maintain a generally positive outlook, with a consensus rating of “Moderate Buy” and an average price target of $97.71, despite some recent target-price reductions.
• Microchip reported quarterly EPS of $0.76, beating estimates of $0.70, while revenue rose 38% year over year to $1.48 billion; the company also pays a $0.455 quarterly dividend, yielding about 2.4%.

Mirae Asset Global Investments Co. Ltd. purchased a new position in shares of Microchip Technology Incorporated (NASDAQ:MCHP - Free Report) in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 1,212,596 shares of the semiconductor company's stock, valued at approximately $94,304,000. Mirae Asset Global Investments Co. Ltd. owned approximately 0.22% of Microchip Technology as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also made changes to their positions in the company. State Street Corp boosted its stake in Microchip Technology by 2.9% during the second quarter. State Street Corp now owns 28,851,673 shares of the semiconductor company's stock worth $2,631,273,000 after buying an additional 821,147 shares during the last quarter. Van ECK Associates Corp lifted its position in Microchip Technology by 18.3% in the second quarter. Van ECK Associates Corp now owns 8,224,808 shares of the semiconductor company's stock valued at $750,102,000 after buying an additional 1,272,838 shares during the last quarter. Barrow Hanley Mewhinney & Strauss LLC acquired a new position in Microchip Technology in the second quarter valued at about $537,423,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in Microchip Technology by 23.5% in the second quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 5,060,528 shares of the semiconductor company's stock valued at $461,520,000 after buying an additional 962,362 shares during the last quarter. Finally, Legal & General Group Plc purchased a new position in Microchip Technology during the second quarter worth about $312,597,000. 91.51% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

MCHP has been the topic of a number of research analyst reports. Zacks Research downgraded shares of Microchip Technology from a "strong-buy" rating to a "hold" rating in a research note on Monday, August 17th. B. Riley Financial lowered their price objective on shares of Microchip Technology from $108.00 to $98.00 and set a "buy" rating for the company in a research report on Thursday, October 22nd. Rosenblatt Securities reiterated a "buy" rating and issued a $120.00 target price on shares of Microchip Technology in a report on Friday, August 7th. BMO Capital Markets began coverage on Microchip Technology in a research report on Friday, August 21st. They issued an "outperform" rating and a $95.00 target price on the stock. Finally, UBS Group restated a "buy" rating and set a $120.00 price target (down from $130.00) on shares of Microchip Technology in a research note on Friday, August 7th. Three 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. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $97.71.

Microchip Technology Stock Performance

Shares of MCHP opened at $77.34 on Friday. Microchip Technology Incorporated has a 1 year low of $48.52 and a 1 year high of $105.91. The stock has a market capitalization of $42.00 billion, a PE ratio of 115.43, a PEG ratio of 0.53 and a beta of 1.77. The company has a debt-to-equity ratio of 0.83, a quick ratio of 1.11 and a current ratio of 1.92. The stock has a 50-day simple moving average of $75.26 and a 200-day simple moving average of $79.50.

Microchip Technology (NASDAQ:MCHP - Get Free Report) last announced 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 for 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 company's revenue was up 38.0% on a year-over-year basis. 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. On average, analysts predict that Microchip Technology Incorporated will post 3.20 earnings per share for the current fiscal year.

Microchip Technology Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, September 9th. Stockholders of record on Monday, August 24th were paid a dividend of $0.4550 per share. The ex-dividend date was Monday, August 24th. This represents a $1.82 annualized dividend and a dividend yield of 2.4%. Microchip Technology's dividend payout ratio is 271.64%.

Insider Buying and Selling at Microchip Technology

In other Microchip Technology news, CFO James Bjornholt sold 4,112 shares of Microchip Technology stock in a transaction that occurred on Tuesday, August 25th. The stock was sold at an average price of $75.32, for a total value of $309,715.84. Following the transaction, the chief financial officer directly owned 28,573 shares in the company, valued at approximately $2,152,118.36. This trade represents a 12.58% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 1.79% of the company's stock.

Microchip Technology Company Profile

Microchip Technology Incorporated NASDAQ: MCHP develops and manufactures semiconductor products used in embedded control and connected electronic systems. Its portfolio includes microcontrollers, microprocessors, analog and power-management devices, memory products, timing and connectivity components, security solutions, and field-programmable gate arrays. The company also provides development tools, software, evaluation kits, and technical support to help customers design and produce electronic equipment.

Microchip's products are used across a range of markets, including automotive, industrial, aerospace and defense, communications, consumer electronics, data centers, and medical applications.

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