UniSuper Management Pty Ltd Buys 7,377 Shares of Microchip Technology Incorporated $MCHP

Key Points

• UniSuper Management Pty Ltd increased its holdings in Microchip Technology by 6.3%, acquiring an additional 7,377 shares, bringing its total to 124,507 shares valued at approximately $6 million.
• Microchip Technology reported Q2 earnings of $0.27 per share, exceeding analysts' expectations, and posted quarterly revenue of $1.08 billion, despite a 13.3% year-over-year decline.
• Recent analyst upgrades have raised Microchip Technology's price target significantly, with estimates now ranging from $64 to $85, reflecting a positive outlook for the company's stock performance.

UniSuper Management Pty Ltd grew its holdings in shares of Microchip Technology Incorporated (NASDAQ:MCHP - Free Report) by 6.3% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 124,507 shares of the semiconductor company's stock after buying an additional 7,377 shares during the period. UniSuper Management Pty Ltd's holdings in Microchip Technology were worth $6,027,000 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. Cary Street Partners Financial LLC purchased a new stake in shares of Microchip Technology in the 4th quarter worth about $109,000. Cetera Investment Advisers grew its position in shares of Microchip Technology by 0.4% in the 4th quarter. Cetera Investment Advisers now owns 165,344 shares of the semiconductor company's stock worth $9,482,000 after buying an additional 589 shares during the period. First Manhattan CO. LLC. grew its position in shares of Microchip Technology by 23.6% in the 4th quarter. First Manhattan CO. LLC. now owns 5,549 shares of the semiconductor company's stock worth $318,000 after buying an additional 1,059 shares during the period. Graham Capital Management L.P. purchased a new stake in shares of Microchip Technology in the 4th quarter worth about $663,000. Finally, Gotham Asset Management LLC grew its position in shares of Microchip Technology by 3.8% in the 4th quarter. Gotham Asset Management LLC now owns 11,259 shares of the semiconductor company's stock worth $646,000 after buying an additional 414 shares during the period. 91.51% of the stock is owned by hedge funds and other institutional investors.

Microchip Technology Stock Performance

Shares of Microchip Technology stock opened at $65.92 on Monday. The stock has a market cap of $35.58 billion, a price-to-earnings ratio of -193.88, a PEG ratio of 1.89 and a beta of 1.56. The firm's 50-day moving average is $68.82 and its 200 day moving average is $59.50. Microchip Technology Incorporated has a 1 year low of $34.13 and a 1 year high of $81.64. The company has a debt-to-equity ratio of 0.80, a current ratio of 2.31 and a quick ratio of 1.33.

Microchip Technology (NASDAQ:MCHP - Get Free Report) last announced its quarterly earnings results on Thursday, August 7th. The semiconductor company reported $0.27 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.24 by $0.03. The company had revenue of $1.08 billion for the quarter, compared to analysts' expectations of $1.05 billion. Microchip Technology had a negative net margin of 3.50% and a positive return on equity of 6.24%. Microchip Technology's revenue was down 13.3% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.53 EPS. Microchip Technology has set its Q2 2026 guidance at 0.340-0.370 EPS. 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. Shareholders of record on Friday, August 22nd were paid a dividend of $0.455 per share. The ex-dividend date was Friday, August 22nd. This represents a $1.82 annualized dividend and a yield of 2.8%. Microchip Technology's dividend payout ratio is currently -535.29%.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the stock. Piper Sandler upped their target price on shares of Microchip Technology from $65.00 to $80.00 and gave the stock an "overweight" rating in a research report on Friday, August 8th. Cantor Fitzgerald assumed coverage on shares of Microchip Technology in a research report on Wednesday, June 18th. They issued a "neutral" rating and a $70.00 target price on the stock. Mizuho upped their target price on shares of Microchip Technology from $78.00 to $85.00 and gave the stock an "outperform" rating in a research report on Tuesday, July 8th. Truist Financial upped their target price on shares of Microchip Technology from $52.00 to $64.00 and gave the stock a "hold" rating in a research report on Wednesday, June 18th. Finally, Stifel Nicolaus upped their price target on shares of Microchip Technology from $70.00 to $82.00 and gave the stock a "buy" rating in a research note on Friday, July 18th. One investment analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and six have assigned a Hold rating to the company. Based on data from MarketBeat.com, Microchip Technology presently has a consensus rating of "Moderate Buy" and an average price target of $76.58.

Insider Activity

In other Microchip Technology news, CFO James Eric Bjornholt sold 7,356 shares of the company's stock in a transaction dated Monday, August 25th. The shares were sold at an average price of $68.72, for a total transaction of $505,504.32. Following the transaction, the chief financial officer owned 30,010 shares in the company, valued at approximately $2,062,287.20. This represents a 19.69% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, 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 transaction, the director owned 30,665 shares in the company, valued at $2,092,886.25. This represents a 24.59% decrease in their position. The disclosure for this sale can be found here. 1.94% of the stock is currently owned by corporate insiders.

Microchip Technology Profile

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.

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).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.