Sigma Planning Corp Purchases Shares of 13,966 Microchip Technology Incorporated $MCHP

Sigma Planning Corp purchased a new position in Microchip Technology Incorporated (NASDAQ:MCHP - Free Report) in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 13,966 shares of the semiconductor company's stock, valued at approximately $1,274,000.

Several other large investors have also bought and sold shares of the company. AQR Capital Management LLC boosted its holdings in shares of Microchip Technology by 51.3% during the 1st quarter. AQR Capital Management LLC now owns 17,201 shares of the semiconductor company's stock valued at $827,000 after buying an additional 5,835 shares in the last quarter. Geneos Wealth Management Inc. increased its stake in shares of Microchip Technology by 101.8% in the 1st quarter. Geneos Wealth Management Inc. now owns 1,221 shares of the semiconductor company's stock worth $59,000 after acquiring an additional 616 shares in the last quarter. Cresset Asset Management LLC increased its stake in shares of Microchip Technology by 5.4% in the 2nd quarter. Cresset Asset Management LLC now owns 11,433 shares of the semiconductor company's stock worth $805,000 after acquiring an additional 589 shares in the last quarter. AXA S.A. lifted its position in Microchip Technology by 21.3% during the 2nd quarter. AXA S.A. now owns 51,552 shares of the semiconductor company's stock valued at $3,628,000 after acquiring an additional 9,043 shares during the period. Finally, Treasurer of the State of North Carolina boosted its stake in Microchip Technology by 1.6% during the second quarter. Treasurer of the State of North Carolina now owns 246,530 shares of the semiconductor company's stock worth $17,348,000 after acquiring an additional 3,851 shares in the last quarter. 91.51% of the stock is owned by institutional investors.

Microchip Technology Stock Performance

Shares of MCHP stock opened at $73.45 on Tuesday. The company has a quick ratio of 1.11, a current ratio of 1.92 and a debt-to-equity ratio of 0.83. The company has a 50 day moving average price of $81.32 and a 200-day moving average price of $81.39. Microchip Technology Incorporated has a 52 week low of $48.52 and a 52 week high of $105.91. The firm has a market capitalization of $39.88 billion, a PE ratio of 109.63, a P/E/G ratio of 0.51 and a beta of 1.76.

Microchip Technology (NASDAQ:MCHP - Get Free Report) last issued its earnings results on Thursday, August 6th. The semiconductor company reported $0.76 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.70 by $0.06. Microchip Technology had a net margin of 9.34% and a return on equity of 14.97%. The company had revenue of $1.48 billion for the quarter, compared to analysts' expectations of $1.46 billion. During the same quarter last year, the company posted $0.27 earnings per share. The firm's quarterly revenue was up 38.0% on a year-over-year basis. Microchip Technology has set its Q2 2027 guidance at 0.910-0.950 EPS. As a group, equities research analysts expect that Microchip Technology Incorporated will post 3.16 earnings per share for the current year.

Microchip Technology Announces Dividend

The firm also recently declared 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 2.5%. Microchip Technology's dividend payout ratio is presently 271.64%.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the stock. Wells Fargo & Company cut their price objective on shares of Microchip Technology from $95.00 to $88.00 and set an "equal weight" rating on the stock in a report on Monday, July 20th. Citigroup dropped their price target on Microchip Technology from $113.00 to $95.00 and set a "buy" rating on the stock in a research report on Friday, August 7th. Zacks Research lowered Microchip Technology from a "strong-buy" rating to a "hold" rating in a research report on Monday, August 17th. Wall Street Zen upgraded Microchip Technology from a "hold" rating to a "buy" rating in a research note on Saturday, May 9th. Finally, JPMorgan Chase & Co. boosted their target price on Microchip Technology from $95.00 to $120.00 and gave the stock an "overweight" rating in a report on Friday, May 8th. Three analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating and eight have given a Hold rating to the stock. Based on data from MarketBeat, Microchip Technology has a consensus rating of "Moderate Buy" and a consensus price target of $98.67.

Insider Activity at Microchip Technology

In related news, CFO James Eric Bjornholt sold 4,112 shares of the business's stock in a transaction that occurred on Tuesday, August 25th. The shares were sold at an average price of $75.32, for a total transaction of $309,715.84. Following the completion of the sale, the chief financial officer directly owned 28,573 shares in the company, valued at approximately $2,152,118.36. The trade was a 12.58% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, COO Richard J. Simoncic sold 5,000 shares of the stock in a transaction that occurred on Thursday, June 4th. The stock was sold at an average price of $97.52, for a total transaction of $487,600.00. Following the completion of the transaction, the chief operating officer owned 130,508 shares in the company, valued at $12,727,140.16. The trade was a 3.69% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 9,949 shares of company stock worth $864,493 in the last quarter. Company insiders own 1.79% of the company's stock.

Microchip Technology 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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