Mirae Asset Global Investments Co. Ltd. Buys 62,659 Shares of Microchip Technology Incorporated $MCHP

Mirae Asset Global Investments Co. Ltd. raised its holdings in Microchip Technology Incorporated (NASDAQ:MCHP) by 6.7% in the 2nd quarter, according to the company in its most recent filing with the SEC. The firm owned 1,000,341 shares of the semiconductor company’s stock after acquiring an additional 62,659 shares during the quarter. Mirae Asset Global Investments Co. Ltd. owned approximately 0.19% of Microchip Technology worth $70,394,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. First Citizens Bank & Trust Co. increased its position in Microchip Technology by 468.2% in the 1st quarter. First Citizens Bank & Trust Co. now owns 73,737 shares of the semiconductor company’s stock valued at $3,570,000 after acquiring an additional 60,760 shares during the period. Everhart Financial Group Inc. acquired a new position in Microchip Technology in the 1st quarter valued at approximately $221,000. Sowell Financial Services LLC acquired a new position in Microchip Technology in the 1st quarter valued at approximately $318,000. Thompson Investment Management Inc. increased its position in Microchip Technology by 9.9% in the 1st quarter. Thompson Investment Management Inc. now owns 91,016 shares of the semiconductor company’s stock valued at $4,406,000 after acquiring an additional 8,175 shares during the period. Finally, Oppenheimer Asset Management Inc. increased its position in Microchip Technology by 35.8% in the 1st quarter. Oppenheimer Asset Management Inc. now owns 33,554 shares of the semiconductor company’s stock valued at $1,624,000 after acquiring an additional 8,843 shares during the period. 91.51% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on the stock. The Goldman Sachs Group assumed coverage on shares of Microchip Technology in a research report on Thursday, July 10th. They set a “buy” rating and a $88.00 price objective for the company. Cantor Fitzgerald assumed coverage on shares of Microchip Technology in a research report on Wednesday, June 18th. They set a “neutral” rating and a $70.00 price objective for the company. Raymond James Financial increased their price objective on shares of Microchip Technology from $65.00 to $75.00 and gave the stock a “strong-buy” rating in a research report on Friday, August 8th. Citigroup increased their price objective on shares of Microchip Technology from $68.00 to $90.00 and gave the stock a “buy” rating in a research report on Monday, July 7th. Finally, Wall Street Zen upgraded shares of Microchip Technology from a “sell” rating to a “hold” rating in a research report on Friday, June 27th. One research analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and seven have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $75.75.

Insider Transactions at Microchip Technology

In other news, Director Matthew W. Chapman sold 10,000 shares of Microchip Technology 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 transaction, the director directly owned 30,665 shares in the company, valued at $2,092,886.25. This trade represents a 24.59% 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 7,356 shares of Microchip Technology 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 of the company’s stock, valued at $2,062,287.20. This represents a 19.69% decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.94% of the stock is owned by company insiders.

Microchip Technology Trading Up 3.2%

NASDAQ:MCHP opened at $66.13 on Friday. 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 capitalization of $35.69 billion, a price-to-earnings ratio of -194.50, a PEG ratio of 1.84 and a beta of 1.55. The firm has a fifty day simple moving average of $65.72 and a two-hundred day simple moving average of $60.49. Microchip Technology Incorporated has a 12 month low of $34.13 and a 12 month high of $79.53.

Microchip Technology (NASDAQ:MCHP) last posted its quarterly 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 during 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%. The business’s quarterly revenue was down 13.3% on a year-over-year basis. During the same period last year, the company posted $0.53 earnings per share. Microchip Technology has set its Q2 2026 guidance at 0.340-0.370 EPS. Analysts expect that Microchip Technology Incorporated will post 1.03 EPS for the current fiscal year.

Microchip Technology Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 5th. Stockholders of record on Friday, August 22nd were issued a dividend of $0.455 per share. 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 dividend payout ratio (DPR) is currently -535.29%.

Microchip Technology Company 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.