E Fund Management Co. Ltd. Buys Shares of 33,697 Microchip Technology Incorporated $MCHP

E Fund Management Co. Ltd. acquired a new stake in Microchip Technology Incorporated (NASDAQ:MCHP) in the second quarter, Holdings Channel reports. The firm acquired 33,697 shares of the semiconductor company’s stock, valued at approximately $3,073,000.

Several other large investors have also recently added to or reduced their stakes in MCHP. EFG International AG acquired a new position in shares of Microchip Technology in the fourth quarter worth $29,000. Miller Capital Partners Inc. acquired a new stake in shares of Microchip Technology in the fourth quarter valued at $29,000. Continuum Advisory LLC purchased a new position in Microchip Technology in the second quarter valued at $30,000. Johnson Financial Group Inc. purchased a new position in Microchip Technology in the second quarter valued at $31,000. Finally, Reflection Asset Management acquired a new position in Microchip Technology during the 4th quarter worth $33,000. 91.51% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on MCHP shares. Citigroup lowered their price objective on Microchip Technology from $113.00 to $95.00 and set a “buy” rating for the company in a research report on Friday, August 7th. TD Cowen reduced their target price on shares of Microchip Technology from $105.00 to $90.00 and set a “hold” rating on the stock in a report on Monday, July 13th. Wall Street Zen upgraded shares of Microchip Technology from a “hold” rating to a “buy” rating in a research note on Saturday, May 9th. JPMorgan Chase & Co. boosted their price target on shares of Microchip Technology from $95.00 to $120.00 and gave the stock an “overweight” rating in a report on Friday, May 8th. Finally, Cantor Fitzgerald reissued an “overweight” rating and issued a $125.00 price objective on shares of Microchip Technology in a research report on Monday. Two research analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and eight have issued a Hold rating to the company. According to data from MarketBeat.com, Microchip Technology currently has an average rating of “Moderate Buy” and a consensus target price of $98.85.

Insider Activity

In other Microchip Technology news, COO Richard J. Simoncic sold 5,000 shares of the business’s 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 sale, the chief operating officer directly owned 130,508 shares in the company, valued at approximately $12,727,140.16. The trade was a 3.69% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Matthew W. Chapman sold 3,000 shares of the business’s stock in a transaction dated Thursday, May 28th. The stock was sold at an average price of $97.52, for a total transaction of $292,560.00. Following the sale, the director directly owned 17,665 shares in the company, valued at approximately $1,722,690.80. This represents a 14.52% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 17,504 shares of company stock valued at $1,647,758 over the last quarter. Corporate insiders own 1.79% of the company’s stock.

Microchip Technology Trading Down 1.4%

MCHP opened at $77.08 on Thursday. The company has a quick ratio of 1.11, a current ratio of 1.92 and a debt-to-equity ratio of 0.83. Microchip Technology Incorporated has a 52 week low of $48.52 and a 52 week high of $105.91. The business’s 50 day moving average is $85.02 and its two-hundred day moving average is $81.53. The firm has a market cap of $41.86 billion, a price-to-earnings ratio of 115.05, a price-to-earnings-growth ratio of 0.54 and a beta of 1.76.

Microchip Technology (NASDAQ:MCHP) last announced its earnings results on Thursday, August 6th. The semiconductor company reported $0.76 earnings per share for the quarter, topping the consensus estimate 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 in the prior year, the firm earned $0.27 earnings per share. Microchip Technology has set its Q2 2027 guidance at 0.910-0.950 EPS. On average, research analysts predict that Microchip Technology Incorporated will post 3.16 EPS for the current year.

Microchip Technology Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 9th. Stockholders of record on Monday, August 24th will be issued a $0.455 dividend. The ex-dividend date of this dividend is Monday, August 24th. This represents a $1.82 annualized dividend and a dividend yield of 2.4%. Microchip Technology’s payout ratio is presently 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.