PDT Partners LLC Purchases New Position in Microchip Technology Incorporated $MCHP

PDT Partners LLC acquired a new position in Microchip Technology Incorporated (NASDAQ:MCHP) in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 135,904 shares of the semiconductor company’s stock, valued at approximately $12,394,000.

Other hedge funds have also bought and sold shares of the company. Wolverine Asset Management LLC grew its stake in Microchip Technology by 3,833.7% during the fourth quarter. Wolverine Asset Management LLC now owns 37,921 shares of the semiconductor company’s stock valued at $2,416,000 after acquiring an additional 36,957 shares in the last quarter. Vienna Powszechne Towarzystwo Emerytalne S.A. Vienna Insurance Group purchased a new stake in Microchip Technology in the 4th quarter worth approximately $6,691,000. Epoch Investment Partners Inc. lifted its stake in Microchip Technology by 16.5% in the 4th quarter. Epoch Investment Partners Inc. now owns 1,349,136 shares of the semiconductor company’s stock worth $85,967,000 after purchasing an additional 191,339 shares in the last quarter. Peregrine Investment Management Inc. bought a new position in Microchip Technology in the 1st quarter valued at $5,492,000. Finally, Norges Bank bought a new position in Microchip Technology in the 4th quarter valued at $664,564,000. 91.51% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Microchip Technology

In other Microchip Technology news, COO Richard J. Simoncic sold 5,000 shares of the stock in a transaction on Thursday, June 4th. The shares were sold at an average price of $97.52, for a total transaction of $487,600.00. Following the completion of the sale, the chief operating officer owned 130,508 shares of the company’s stock, valued at $12,727,140.16. This represents a 3.69% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Matthew W. Chapman sold 3,000 shares of the firm’s stock in a transaction on Thursday, May 28th. The stock was sold at an average price of $97.52, for a total transaction of $292,560.00. Following the completion of the sale, the director directly owned 17,665 shares in the company, valued at approximately $1,722,690.80. This trade represents a 14.52% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 8,837 shares of company stock valued at $847,338 in the last quarter. Company insiders own 1.79% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have weighed in on MCHP. Weiss Ratings upgraded Microchip Technology from a “hold (c-)” rating to a “hold (c)” rating in a research note on Tuesday, August 11th. Truist Financial lowered their price objective on shares of Microchip Technology from $105.00 to $90.00 and set a “hold” rating for the company in a report on Friday, August 7th. TD Cowen cut their price objective on shares of Microchip Technology from $105.00 to $90.00 and set a “hold” rating for the company in a research note on Monday, July 13th. Citigroup reduced their target price on shares of Microchip Technology from $113.00 to $95.00 and set a “buy” rating on the stock in a report on Friday, August 7th. Finally, Barclays lifted their target price on shares of Microchip Technology from $80.00 to $105.00 and gave the stock an “equal weight” rating in a research report on Monday, May 11th. Three equities 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 stock. According to MarketBeat.com, Microchip Technology presently has an average rating of “Moderate Buy” and an average price target of $98.67.

Microchip Technology Price Performance

Shares of Microchip Technology stock opened at $73.50 on Wednesday. The company has a debt-to-equity ratio of 0.83, a current ratio of 1.92 and a quick ratio of 1.11. The business’s 50 day simple moving average is $83.33 and its two-hundred day simple moving average is $81.46. The stock has a market capitalization of $39.91 billion, a P/E ratio of 109.70, a price-to-earnings-growth ratio of 0.52 and a beta of 1.76. Microchip Technology Incorporated has a one year low of $48.52 and a one year high of $105.91.

Microchip Technology (NASDAQ:MCHP) last released its quarterly earnings data on Thursday, August 6th. The semiconductor company reported $0.76 earnings per share for the quarter, beating analysts’ consensus estimates of $0.70 by $0.06. The firm had revenue of $1.48 billion during the quarter, compared to analyst estimates of $1.46 billion. Microchip Technology had a return on equity of 14.97% and a net margin of 9.34%.The business’s quarterly revenue was up 38.0% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.27 earnings per share. Microchip Technology has set its Q2 2027 guidance at 0.910-0.950 EPS. Analysts forecast that Microchip Technology Incorporated will post 3.16 EPS for the current year.

Microchip Technology Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, September 9th. Investors of record on Monday, August 24th will be issued 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 dividend payout ratio is currently 271.64%.

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.