Empowered Funds LLC Invests $5.38 Million in Microchip Technology Incorporated $MCHP

Empowered Funds LLC bought a new position in shares of Microchip Technology Incorporated (NASDAQ:MCHP) in the second quarter, HoldingsChannel reports. The firm bought 58,991 shares of the semiconductor company’s stock, valued at approximately $5,380,000.

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

Insider Activity at Microchip Technology

In related news, CFO James Eric Bjornholt sold 4,112 shares of the stock in a transaction that occurred on 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 of the company’s stock, valued at $2,152,118.36. This represents a 12.58% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available 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 value of $487,600.00. Following the completion of the transaction, the chief operating officer directly owned 130,508 shares in the company, valued at approximately $12,727,140.16. This trade represents a 3.69% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 9,949 shares of company stock valued at $864,493 in the last ninety days. Insiders own 1.79% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on MCHP. Zacks Research cut shares of Microchip Technology from a “strong-buy” rating to a “hold” rating in a research report on Monday, August 17th. BMO Capital Markets initiated coverage on shares of Microchip Technology in a research report on Friday, August 21st. They set an “outperform” rating and a $95.00 price objective for the company. Rosenblatt Securities reissued a “buy” rating and issued a $120.00 price objective on shares of Microchip Technology in a research note on Friday, August 7th. Truist Financial decreased their target price on shares of Microchip Technology from $105.00 to $90.00 and set a “hold” rating on the stock in a research report on Friday, August 7th. Finally, JPMorgan Chase & Co. increased their price target on shares of Microchip Technology from $95.00 to $120.00 and gave the company an “overweight” rating in a report on Friday, May 8th. Three investment analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and eight have given a Hold rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $98.67.

Microchip Technology Trading Up 0.7%

NASDAQ MCHP opened at $73.45 on Tuesday. The company’s 50-day moving average price is $81.32 and its 200-day moving average price is $81.39. The company has a current ratio of 1.92, a quick ratio of 1.11 and a debt-to-equity ratio of 0.83. The stock has a market cap of $39.88 billion, a PE ratio of 109.63, a PEG ratio of 0.51 and a beta of 1.76. Microchip Technology Incorporated has a 12 month low of $48.52 and a 12 month high of $105.91.

Microchip Technology (NASDAQ:MCHP) last announced 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 company had revenue of $1.48 billion during the quarter, compared to analyst estimates of $1.46 billion. Microchip Technology had a net margin of 9.34% and a return on equity of 14.97%. The firm’s revenue for the quarter was up 38.0% on a year-over-year basis. During the same quarter last year, the business posted $0.27 EPS. Microchip Technology has set its Q2 2027 guidance at 0.910-0.950 EPS. Equities research analysts forecast that Microchip Technology Incorporated will post 3.16 earnings per share for the current year.

Microchip Technology Dividend Announcement

The business also recently announced 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 dividend on an annualized basis and a dividend yield of 2.5%. Microchip Technology’s dividend payout ratio (DPR) is 271.64%.

Microchip Technology Company 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.