Norden Group LLC Makes New $398,000 Investment in Microchip Technology Incorporated $MCHP

Key Points

• Norden Group LLC made a new investment of approximately $398,000 in Microchip Technology, acquiring 5,655 shares of the semiconductor company’s stock.
• Microchip Technology's stock has a current market cap of $34.77 billion, with analyst price targets varying from $64.00 to $85.00, reflecting a consensus rating of "Moderate Buy."
• Recent insider transactions showed notable sales by Director Matthew W. Chapman and CFO James Eric Bjornholt, reducing their ownership by 24.59% and 19.69%, respectively.

Norden Group LLC bought a new stake in shares of Microchip Technology Incorporated (NASDAQ:MCHP - Free Report) in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 5,655 shares of the semiconductor company's stock, valued at approximately $398,000.

Other hedge funds have also made changes to their positions in the company. Garde Capital Inc. acquired a new stake in Microchip Technology in the first quarter worth $30,000. MCF Advisors LLC increased its holdings in shares of Microchip Technology by 211.2% in the 2nd quarter. MCF Advisors LLC now owns 473 shares of the semiconductor company's stock worth $33,000 after acquiring an additional 321 shares during the period. Carderock Capital Management Inc. bought a new stake in Microchip Technology in the 2nd quarter valued at about $39,000. WPG Advisers LLC acquired a new position in Microchip Technology during the 1st quarter valued at about $40,000. Finally, Painted Porch Advisors LLC bought a new position in Microchip Technology in the 2nd quarter worth about $40,000. Institutional investors own 91.51% of the company's stock.

Insider Transactions at Microchip Technology

In other Microchip Technology news, 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 of the company's stock, valued at approximately $2,092,886.25. This represents a 24.59% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO James Eric Bjornholt sold 7,356 shares of the business's stock in a transaction on Monday, August 25th. The shares were sold at an average price of $68.72, for a total transaction of $505,504.32. Following the sale, the chief financial officer directly owned 30,010 shares in the company, valued at approximately $2,062,287.20. This trade represents a 19.69% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 1.94% of the company's stock.

Analysts Set New Price Targets

MCHP has been the topic of a number of recent analyst reports. Cantor Fitzgerald assumed coverage on Microchip Technology in a report on Wednesday, June 18th. They set a "neutral" rating and a $70.00 price target on the stock. Truist Financial lifted their target price on Microchip Technology from $52.00 to $64.00 and gave the company a "hold" rating in a research note on Wednesday, June 18th. Mizuho increased their price target on Microchip Technology from $78.00 to $85.00 and gave the stock an "outperform" rating in a research note on Tuesday, July 8th. Raymond James Financial lifted their price objective 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. Finally, Needham & Company LLC increased their target price on shares of Microchip Technology from $66.00 to $77.00 and gave the company a "buy" rating in a research report on Friday, August 8th. One investment analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and seven have issued a Hold rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $75.75.

Microchip Technology Price Performance

Shares of Microchip Technology stock opened at $64.42 on Friday. Microchip Technology Incorporated has a 52 week low of $34.13 and a 52 week high of $81.64. The company has a current ratio of 2.31, a quick ratio of 1.33 and a debt-to-equity ratio of 0.80. The stock has a market cap of $34.77 billion, a PE ratio of -189.47, a price-to-earnings-growth ratio of 1.86 and a beta of 1.56. The company's 50-day moving average price is $66.30 and its two-hundred day moving average price is $60.18.

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

Microchip Technology Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, September 5th. Investors of record on Friday, August 22nd were issued a $0.455 dividend. This represents a $1.82 dividend on an annualized basis and a dividend yield of 2.8%. The ex-dividend date was Friday, August 22nd. 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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