State Street Corp Has $2.63 Billion Position in Microchip Technology Incorporated $MCHP

Key Points

• State Street increased its Microchip Technology stake by 2.9% in the second quarter, bringing its holdings to 28.85 million shares valued at approximately $2.63 billion, or 5.31% of the company. Institutional investors collectively own 91.51% of MCHP.
• Microchip reported quarterly EPS of $0.76, beating estimates of $0.70, while revenue rose 38% year over year to $1.48 billion. The company also issued guidance for fiscal Q2 2027 EPS of $0.91–$0.95.
• Analysts maintain a generally positive view, with a consensus “Moderate Buy” rating and an average price target of $98.67, although several firms recently lowered their targets. MCHP shares opened at $75.82, and the company pays an annualized dividend of $1.82, yielding about 2.4%.

State Street Corp boosted its stake in shares of Microchip Technology Incorporated (NASDAQ:MCHP - Free Report) by 2.9% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 28,851,673 shares of the semiconductor company's stock after buying an additional 821,147 shares during the quarter. State Street Corp owned approximately 5.31% of Microchip Technology worth $2,631,273,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of MCHP. Anchor Investment Management LLC increased its holdings in Microchip Technology by 25.6% during the 2nd quarter. Anchor Investment Management LLC now owns 879 shares of the semiconductor company's stock worth $80,000 after purchasing an additional 179 shares in the last quarter. Junto Capital Management LP purchased a new position in shares of Microchip Technology during the second quarter valued at approximately $38,537,000. Rench Wealth Management Inc. boosted its position in shares of Microchip Technology by 0.6% during the second quarter. Rench Wealth Management Inc. now owns 92,558 shares of the semiconductor company's stock valued at $8,441,000 after buying an additional 512 shares during the last quarter. Sequoia Financial Advisors LLC grew its holdings in Microchip Technology by 5.7% during the second quarter. Sequoia Financial Advisors LLC now owns 28,034 shares of the semiconductor company's stock worth $2,557,000 after buying an additional 1,507 shares in the last quarter. Finally, WINTON GROUP Ltd bought a new stake in Microchip Technology during the second quarter worth $301,000. Institutional investors and hedge funds own 91.51% of the company's stock.

Microchip Technology Price Performance

MCHP stock opened at $75.82 on Wednesday. The firm has a 50 day moving average of $76.40 and a 200-day moving average of $80.99. The company has a current ratio of 1.92, a quick ratio of 1.11 and a debt-to-equity ratio of 0.83. Microchip Technology Incorporated has a 12 month low of $48.52 and a 12 month high of $105.91. The firm has a market capitalization of $41.17 billion, a P/E ratio of 113.17, a price-to-earnings-growth ratio of 0.52 and a beta of 1.75.

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, topping 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 company had revenue of $1.48 billion for the quarter, compared to the consensus estimate of $1.46 billion. During the same quarter last year, the business posted $0.27 earnings per share. 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. As a group, sell-side analysts predict that Microchip Technology Incorporated will post 3.16 earnings per share for the current fiscal year.

Microchip Technology Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, September 9th. Investors of record on Monday, August 24th were given a $0.455 dividend. This represents a $1.82 dividend on an annualized basis and a yield of 2.4%. The ex-dividend date was Monday, August 24th. Microchip Technology's dividend payout ratio (DPR) is presently 271.64%.

Insider Buying and Selling

In other news, CFO James Bjornholt sold 4,112 shares of Microchip Technology stock in a transaction dated Tuesday, August 25th. The stock was sold at an average price of $75.32, for a total value of $309,715.84. Following the transaction, the chief financial officer 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 1.79% of the stock is currently owned by insiders.

Analyst Ratings Changes

MCHP has been the topic of several recent analyst reports. Citigroup dropped their target price on shares of Microchip Technology from $113.00 to $95.00 and set a "buy" rating on the stock in a research report on Friday, August 7th. Truist Financial reduced their target price on Microchip Technology from $105.00 to $90.00 and set a "hold" rating for the company in a report on Friday, August 7th. Zacks Research downgraded Microchip Technology from a "strong-buy" rating to a "hold" rating in a research report on Monday, August 17th. UBS Group reiterated a "buy" rating and set a $120.00 price target (down from $130.00) on shares of Microchip Technology in a report on Friday, August 7th. Finally, Wells Fargo & Company cut their price objective on Microchip Technology from $95.00 to $88.00 and set an "equal weight" rating on the stock in a research report on Monday, July 20th. Three research analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating and eight have issued a Hold rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $98.67.

Microchip Technology Profile

Microchip Technology Incorporated NASDAQ: MCHP develops and manufactures semiconductor products for embedded control and connected applications. Its portfolio includes microcontrollers, microprocessors, analog and mixed-signal devices, power-management products, timing and connectivity solutions, memory products, field-programmable gate arrays (FPGAs), and security components.

The company also provides development tools, software, reference designs, and technical support that help customers design and integrate embedded systems.

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