USA Financial Formulas Purchases Shares of 10,653 Microchip Technology Incorporated $MCHP

USA Financial Formulas acquired a new stake in Microchip Technology Incorporated (NASDAQ:MCHP) in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 10,653 shares of the semiconductor company’s stock, valued at approximately $688,000.

Other institutional investors have also recently added to or reduced their stakes in the company. EFG International AG acquired a new position in shares of Microchip Technology during the 4th quarter valued at about $29,000. Miller Capital Partners Inc. acquired a new position in shares of Microchip Technology in the 4th quarter valued at $29,000. Garton & Associates Financial Advisors LLC acquired a new position in shares of Microchip Technology in the 4th quarter valued at $33,000. Reflection Asset Management purchased a new stake in shares of Microchip Technology during the 4th quarter valued at $33,000. Finally, Caitong International Asset Management Co. Ltd grew its stake in shares of 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 valued at $33,000 after buying an additional 513 shares during the period. 91.51% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

MCHP has been the subject of a number of research reports. Wells Fargo & Company lowered their price target on Microchip Technology from $95.00 to $88.00 and set an “equal weight” rating for the company in a research report on Monday, July 20th. TD Cowen cut their price objective on Microchip Technology from $105.00 to $90.00 and set a “hold” rating on the stock in a report on Monday, July 13th. Weiss Ratings raised Microchip Technology from a “hold (c-)” rating to a “hold (c)” rating in a research note on Tuesday. Zacks Research upgraded Microchip Technology from a “hold” rating to a “strong-buy” rating in a report on Tuesday, May 12th. Finally, Rosenblatt Securities reissued a “buy” rating and set a $120.00 target price on shares of Microchip Technology in a research report on Friday, August 7th. Three analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and seven have given a Hold rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $98.85.

Insider Activity

In related news, COO Richard J. Simoncic sold 5,000 shares of the business’s stock in a transaction dated 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 Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Matthew W. Chapman sold 3,000 shares of the company’s stock in a transaction that occurred on Thursday, May 28th. The shares were sold at an average price of $97.52, for a total value of $292,560.00. Following the transaction, the director directly owned 17,665 shares of the company’s stock, valued at $1,722,690.80. This trade represents a 14.52% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last three months, insiders sold 16,667 shares of company stock valued at $1,580,580. Company insiders own 1.79% of the company’s stock.

Microchip Technology Stock Performance

NASDAQ:MCHP opened at $79.17 on Friday. The firm has a 50-day moving average of $85.72 and a two-hundred day moving average of $81.47. 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 stock has a market cap of $42.99 billion, a P/E ratio of 118.17, a PEG ratio of 0.62 and a beta of 1.76. Microchip Technology Incorporated has a 1-year low of $48.52 and a 1-year high of $105.91.

Microchip Technology (NASDAQ:MCHP) last released its quarterly earnings results on Thursday, August 6th. The semiconductor company reported $0.76 earnings per share for the quarter, topping analysts’ consensus estimates of $0.70 by $0.06. The business had revenue of $1.48 billion during the quarter, compared to the consensus estimate of $1.46 billion. Microchip Technology had a net margin of 9.34% and a return on equity of 14.97%. The business’s quarterly revenue was up 38.0% compared to the same quarter last year. During the same quarter last year, the company earned $0.27 earnings per share. Microchip Technology has set its Q2 2027 guidance at 0.910-0.950 EPS. On average, research analysts expect that Microchip Technology Incorporated will post 2.81 earnings per share for the current fiscal year.

Microchip Technology Dividend Announcement

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