Osmosis Investment Management UK Ltd acquired a new position in shares of Microchip Technology Incorporated (NASDAQ:MCHP - Free Report) in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 21,523 shares of the semiconductor company's stock, valued at approximately $1,963,000.
Other large investors have also recently bought and sold shares of the company. Continuum Advisory LLC bought a new position in Microchip Technology in the 2nd quarter valued at approximately $30,000. Johnson Financial Group Inc. acquired a new position in shares of Microchip Technology during the second quarter worth $31,000. Rakuten Securities Inc. acquired a new position in shares of Microchip Technology during the second quarter worth $34,000. EFG International AG bought a new position in shares of Microchip Technology in the 4th quarter valued at $29,000. Finally, Miller Capital Partners Inc. bought a new position in shares of Microchip Technology in the 4th quarter valued at $29,000. 91.51% of the stock is currently owned by institutional investors and hedge funds.
Microchip Technology Price Performance
Shares of MCHP opened at $74.21 on Tuesday. The firm has a market cap of $40.30 billion, a PE ratio of 110.76, a price-to-earnings-growth ratio of 0.53 and a beta of 1.76. Microchip Technology Incorporated has a 52-week low of $48.52 and a 52-week high of $105.91. The business's 50 day moving average price is $83.77 and its two-hundred day moving average price is $81.49. The company has a debt-to-equity ratio of 0.83, a quick ratio of 1.11 and a current ratio of 1.92.
Microchip Technology (NASDAQ:MCHP - Get Free Report) last issued its earnings results on Thursday, August 6th. The semiconductor company reported $0.76 EPS for the quarter, beating analysts' consensus estimates 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 company posted $0.27 EPS. The firm's 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. On average, equities analysts anticipate that Microchip Technology Incorporated will post 3.16 EPS for the current year.
Microchip Technology Dividend Announcement
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, September 9th. Shareholders of record on Monday, August 24th will be paid a dividend of $0.455 per share. This represents a $1.82 dividend on an annualized basis and a yield of 2.5%. The ex-dividend date is Monday, August 24th. Microchip Technology's payout ratio is 271.64%.
Insiders Place Their Bets
In other news, Director Matthew W. Chapman sold 3,000 shares of Microchip Technology stock in a transaction dated Thursday, May 28th. The shares were sold at an average price of $97.52, for a total transaction of $292,560.00. Following the completion of the transaction, the director directly owned 17,665 shares in the company, valued at $1,722,690.80. This trade represents a 14.52% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO James Eric Bjornholt sold 837 shares of the stock in a transaction that occurred on Monday, August 17th. The stock was sold at an average price of $80.26, for a total value of $67,177.62. Following the completion of the sale, the chief financial officer directly owned 30,960 shares of the company's stock, valued at approximately $2,484,849.60. This trade represents a 2.63% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last 90 days, insiders have sold 8,837 shares of company stock worth $847,338. Insiders own 1.79% of the company's stock.
Wall Street Analyst Weigh In
MCHP has been the subject of several research reports. JPMorgan Chase & Co. increased their target price on Microchip Technology from $95.00 to $120.00 and gave the company an "overweight" rating in a research report on Friday, May 8th. Weiss Ratings upgraded shares of Microchip Technology from a "hold (c-)" rating to a "hold (c)" rating in a report on Tuesday, August 11th. Zacks Research downgraded shares of Microchip Technology from a "strong-buy" rating to a "hold" rating in a research report on Monday, August 17th. Susquehanna boosted their target price on shares of Microchip Technology from $95.00 to $120.00 and gave the stock a "positive" rating in a report on Friday, May 8th. Finally, Wall Street Zen raised shares of Microchip Technology from a "hold" rating to a "buy" rating in a research note on Saturday, May 9th. Three research analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and eight have issued a Hold rating to the company. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $98.67.
Check Out Our Latest Stock Report on Microchip Technology
Microchip Technology Company Profile
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Free Report)
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.
See Also
Want to see what other hedge funds are holding MCHP? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Microchip Technology Incorporated (NASDAQ:MCHP - Free Report).
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