Microchip Technology Incorporated $MCHP Shares Purchased by Sumitomo Mitsui Trust Group Inc.

Key Points

• Sumitomo Mitsui Trust Group Inc. has increased its stake in Microchip Technology by 0.7%, now owning approximately 1,323,319 shares valued at $93.1 million.
• Institutional investors hold a significant 91.51% of Microchip Technology's stock, indicating strong institutional support.
• Microchip Technology reported an earnings per share (EPS) of $0.27 for the last quarter, exceeding analyst estimates, while also announcing a quarterly dividend of $0.455.

Sumitomo Mitsui Trust Group Inc. boosted its stake in shares of Microchip Technology Incorporated (NASDAQ:MCHP - Free Report) by 0.7% in the second quarter, according to its most recent disclosure with the SEC. The firm owned 1,323,319 shares of the semiconductor company's stock after acquiring an additional 9,634 shares during the period. Sumitomo Mitsui Trust Group Inc. owned about 0.25% of Microchip Technology worth $93,122,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. MCF Advisors LLC raised its position in shares of Microchip Technology by 211.2% during the 2nd quarter. MCF Advisors LLC now owns 473 shares of the semiconductor company's stock worth $33,000 after purchasing an additional 321 shares during the last quarter. Carderock Capital Management Inc. purchased a new position in shares of Microchip Technology in the second quarter valued at approximately $39,000. WPG Advisers LLC acquired a new stake in shares of Microchip Technology in the first quarter worth approximately $40,000. Painted Porch Advisors LLC purchased a new stake in shares of Microchip Technology during the second quarter worth approximately $40,000. Finally, GW&K Investment Management LLC raised its stake in Microchip Technology by 161.0% in the 1st quarter. GW&K Investment Management LLC now owns 937 shares of the semiconductor company's stock valued at $45,000 after purchasing an additional 578 shares during the last quarter. Institutional investors and hedge funds own 91.51% of the company's stock.

Analyst Upgrades and Downgrades

MCHP has been the topic of several recent research reports. Mizuho lifted their target price on shares of Microchip Technology from $78.00 to $85.00 and gave the stock an "outperform" rating in a research note on Tuesday, July 8th. Wells Fargo & Company assumed coverage on shares of Microchip Technology in a report on Monday, September 15th. They issued an "equal weight" rating and a $60.00 price objective for the company. Susquehanna boosted their target price on Microchip Technology from $60.00 to $90.00 and gave the stock a "positive" rating in a report on Tuesday, July 22nd. Weiss Ratings restated a "sell (d+)" rating on shares of Microchip Technology in a research report on Saturday. Finally, Raymond James Financial lifted their price objective on Microchip Technology from $65.00 to $75.00 and gave the stock a "strong-buy" rating in a research report on Friday, August 8th. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, seven have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, Microchip Technology has a consensus rating of "Moderate Buy" and an average price target of $75.75.

Insiders Place Their Bets

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

Microchip Technology Price Performance

NASDAQ:MCHP opened at $63.17 on Friday. Microchip Technology Incorporated has a 52 week low of $34.13 and a 52 week high of $79.44. The stock's fifty day moving average is $65.28 and its two-hundred day moving average is $62.60. The company has a market capitalization of $34.09 billion, a P/E ratio of -185.79, a P/E/G ratio of 1.81 and a beta of 1.55. The company has a quick ratio of 1.33, a current ratio of 2.31 and a debt-to-equity ratio of 0.80.

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

Microchip Technology Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, September 5th. Shareholders of record on Friday, August 22nd were given 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 2.9%. Microchip Technology's payout ratio is presently -535.29%.

About Microchip Technology

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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