Mitsubishi UFJ Asset Management Co. Ltd. Purchases 105,702 Shares of Microchip Technology Incorporated $MCHP

Mitsubishi UFJ Asset Management Co. Ltd. increased its position in Microchip Technology Incorporated (NASDAQ:MCHP - Free Report) by 7.3% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,561,592 shares of the semiconductor company's stock after purchasing an additional 105,702 shares during the quarter. Mitsubishi UFJ Asset Management Co. Ltd. owned approximately 0.29% of Microchip Technology worth $142,417,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. EFG International AG acquired a new stake in shares of Microchip Technology during the 4th quarter worth approximately $29,000. Miller Capital Partners Inc. bought a new stake in shares of Microchip Technology during the fourth quarter worth approximately $29,000. Continuum Advisory LLC acquired a new position in Microchip Technology in the second quarter valued at approximately $30,000. Reflection Asset Management acquired a new position in Microchip Technology in the fourth quarter valued at approximately $33,000. Finally, Garton & Associates Financial Advisors LLC bought a new position in Microchip Technology in the fourth quarter valued at approximately $33,000. 91.51% of the stock is owned by institutional investors.

Microchip Technology Trading Down 2.6%

NASDAQ MCHP opened at $78.19 on Wednesday. The firm has a market cap of $42.46 billion, a P/E ratio of 116.70, a P/E/G ratio of 0.62 and a beta of 1.76. The company has a debt-to-equity ratio of 0.83, a current ratio of 1.92 and a quick ratio of 1.11. The stock's 50-day moving average is $85.23 and its 200-day moving average is $81.54. Microchip Technology Incorporated has a one year low of $48.52 and a one year high of $105.91.

Microchip Technology (NASDAQ:MCHP - Get Free Report) last issued its quarterly earnings data on Thursday, August 6th. The semiconductor company reported $0.76 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.70 by $0.06. Microchip Technology had a return on equity of 14.97% and a net margin of 9.34%.The business had revenue of $1.48 billion during the quarter, compared to analyst estimates of $1.46 billion. During the same period in the previous year, the firm earned $0.27 EPS. Microchip Technology's quarterly revenue was up 38.0% compared to the same quarter last year. Microchip Technology has set its Q2 2027 guidance at 0.910-0.950 EPS. Sell-side analysts anticipate that Microchip Technology Incorporated will post 3.16 earnings per share for the current fiscal year.

Microchip Technology Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 9th. Stockholders of record on Monday, August 24th will be given a dividend of $0.455 per share. The ex-dividend date of this dividend is Monday, August 24th. This represents a $1.82 annualized dividend and a dividend yield of 2.3%. Microchip Technology's dividend payout ratio is currently 271.64%.

Analyst Upgrades and Downgrades

A number of analysts have commented on MCHP shares. Rosenblatt Securities reaffirmed a "buy" rating and set a $120.00 target price on shares of Microchip Technology in a report on Friday, August 7th. UBS Group reiterated a "buy" rating and issued a $120.00 price objective (down from $130.00) on shares of Microchip Technology in a report on Friday, August 7th. Susquehanna raised their target price on Microchip Technology from $95.00 to $120.00 and gave the stock a "positive" rating in a report on Friday, May 8th. Truist Financial lowered their price target on Microchip Technology from $105.00 to $90.00 and set a "hold" rating for the company in a research note on Friday, August 7th. Finally, Cantor Fitzgerald reissued an "overweight" rating and set a $125.00 price objective on shares of Microchip Technology in a research note on Monday. Three equities research analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and seven have issued a Hold rating to the stock. According to data from MarketBeat.com, Microchip Technology has a consensus rating of "Moderate Buy" and an average target price of $98.85.

Insider Buying and Selling

In related news, Director Matthew W. Chapman sold 3,000 shares of the company's stock in a transaction on Thursday, May 28th. The shares were sold at an average price of $97.52, for a total value of $292,560.00. Following the completion of the transaction, the director directly owned 17,665 shares of the company's stock, valued at approximately $1,722,690.80. This represents a 14.52% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, COO Richard J. Simoncic sold 5,000 shares of the stock in a transaction dated Thursday, June 4th. The stock was sold at an average price of $97.52, for a total value of $487,600.00. Following the transaction, the chief operating officer owned 130,508 shares of the company's stock, valued at approximately $12,727,140.16. This trade represents a 3.69% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 16,667 shares of company stock worth $1,580,580 over the last ninety days. Company insiders own 1.79% of the company's stock.

Microchip Technology Company 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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