Handelsbanken Fonder AB Purchases 39,412 Shares of Microchip Technology Incorporated $MCHP

Handelsbanken Fonder AB increased its position in Microchip Technology Incorporated (NASDAQ:MCHP) by 15.8% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 289,566 shares of the semiconductor company’s stock after buying an additional 39,412 shares during the quarter. Handelsbanken Fonder AB owned 0.05% of Microchip Technology worth $26,408,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also added to or reduced their stakes in the business. EFG International AG acquired a new position in shares of Microchip Technology during the fourth quarter worth $29,000. Miller Capital Partners Inc. acquired a new stake in Microchip Technology in the fourth quarter valued at $29,000. Garton & Associates Financial Advisors LLC bought a new position in Microchip Technology during the 4th quarter worth $33,000. Reflection Asset Management bought a new position in Microchip Technology during the 4th quarter worth $33,000. Finally, Caitong International Asset Management Co. Ltd lifted its holdings in Microchip Technology by 4,663.6% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 524 shares of the semiconductor company’s stock worth $33,000 after buying an additional 513 shares during the period. Institutional investors own 91.51% of the company’s stock.

Insiders Place Their Bets

In other news, CFO James Eric Bjornholt sold 3,667 shares of Microchip Technology stock in a transaction on Friday, May 22nd. The shares were sold at an average price of $90.87, for a total value of $333,220.29. Following the completion of the sale, the chief financial officer owned 28,573 shares in the company, valued at $2,596,428.51. The trade was a 11.37% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Matthew W. Chapman sold 10,000 shares of the business’s stock in a transaction on Friday, May 15th. The shares were sold at an average price of $95.48, for a total transaction of $954,800.00. Following the transaction, the director owned 20,665 shares in the company, valued at $1,973,094.20. The trade was a 32.61% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders have sold 26,750 shares of company stock worth $2,543,170. Corporate insiders own 1.79% of the company’s stock.

Microchip Technology Stock Performance

Shares of Microchip Technology stock opened at $79.44 on Thursday. 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 business has a 50-day moving average price of $86.28 and a two-hundred day moving average price of $81.47. Microchip Technology Incorporated has a 1-year low of $48.52 and a 1-year high of $105.91. The company has a market cap of $43.14 billion, a P/E ratio of 118.57, a PEG ratio of 0.65 and a beta of 1.76.

Microchip Technology (NASDAQ:MCHP) last announced its quarterly earnings data on Thursday, August 6th. The semiconductor company reported $0.76 earnings per share (EPS) for the quarter, beating 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 period in the previous year, the business earned $0.27 EPS. 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, analysts anticipate that Microchip Technology Incorporated will post 2.74 EPS for the current year.

Microchip Technology Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, September 9th. Shareholders of record on Monday, August 24th will be paid a $0.455 dividend. The ex-dividend date of this dividend is Monday, August 24th. This represents a $1.82 annualized dividend and a yield of 2.3%. Microchip Technology’s payout ratio is 271.64%.

Analyst Upgrades and Downgrades

MCHP has been the topic of a number of analyst reports. JPMorgan Chase & Co. upped their price target on Microchip Technology from $95.00 to $120.00 and gave the company an “overweight” rating in a research report on Friday, May 8th. Susquehanna raised their price objective on Microchip Technology from $95.00 to $120.00 and gave the stock a “positive” rating in a research report on Friday, May 8th. Zacks Research upgraded Microchip Technology from a “hold” rating to a “strong-buy” rating in a report on Tuesday, May 12th. Truist Financial reduced their target price on Microchip Technology from $105.00 to $90.00 and set a “hold” rating on the stock in a report on Friday, August 7th. Finally, Cantor Fitzgerald reissued an “overweight” rating and set a $125.00 target price on shares of Microchip Technology in a research report on Monday, August 3rd. Three equities research analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating and seven have assigned a Hold rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $98.85.

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.