Quantitative Investment Management LLC Purchases New Shares in Microchip Technology Incorporated $MCHP

Quantitative Investment Management LLC purchased a new position in Microchip Technology Incorporated (NASDAQ:MCHP) during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm purchased 8,221 shares of the semiconductor company’s stock, valued at approximately $749,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Continuum Advisory LLC purchased a new position in shares of Microchip Technology in the second quarter worth approximately $30,000. Johnson Financial Group Inc. purchased a new stake in shares of Microchip Technology in the 2nd quarter valued at approximately $31,000. Rakuten Securities Inc. purchased a new stake in shares of Microchip Technology in the 2nd quarter valued at approximately $34,000. PenderFund Capital Management Ltd. acquired a new position in Microchip Technology in the 2nd quarter worth approximately $36,000. Finally, Hollencrest Capital Management acquired a new position in Microchip Technology in the 2nd quarter worth approximately $36,000. Institutional investors and hedge funds own 91.51% of the company’s stock.

Microchip Technology Price Performance

MCHP opened at $71.41 on Wednesday. The stock has a market cap of $38.78 billion, a price-to-earnings ratio of 106.58, a PEG ratio of 0.51 and a beta of 1.75. Microchip Technology Incorporated has a 1 year low of $48.52 and a 1 year high of $105.91. 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 fifty day moving average price of $80.88 and a 200 day moving average price of $81.33.

Microchip Technology (NASDAQ:MCHP) last issued 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. 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 analyst estimates of $1.46 billion. During the same period in the prior year, the firm posted $0.27 EPS. The business’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. Analysts forecast that Microchip Technology Incorporated will post 3.16 EPS for the current fiscal year.

Microchip Technology Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 9th. Investors of record on Monday, August 24th will be issued a $0.455 dividend. The ex-dividend date is Monday, August 24th. This represents a $1.82 dividend on an annualized basis and a yield of 2.5%. Microchip Technology’s dividend payout ratio is currently 271.64%.

Wall Street Analyst Weigh In

Several brokerages have issued reports on MCHP. Wall Street Zen raised shares of Microchip Technology from a “hold” rating to a “buy” rating in a research note on Saturday, May 9th. Weiss Ratings raised Microchip Technology from a “hold (c-)” rating to a “hold (c)” rating in a research report on Tuesday, August 11th. Wells Fargo & Company lowered their price target on Microchip Technology from $95.00 to $88.00 and set an “equal weight” rating on the stock in a report on Monday, July 20th. Needham & Company LLC upped their price target on Microchip Technology from $84.00 to $120.00 and gave the company a “buy” rating in a research report on Friday, May 8th. Finally, Susquehanna increased their price objective on Microchip Technology from $95.00 to $120.00 and gave the stock a “positive” rating in a research note on Friday, May 8th. Three equities 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. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $98.67.

Insider Activity at Microchip Technology

In related news, CFO James Eric Bjornholt sold 4,112 shares of the firm’s stock in a transaction that occurred on Tuesday, August 25th. The shares were sold at an average price of $75.32, for a total transaction of $309,715.84. Following the transaction, the chief financial officer owned 28,573 shares of the company’s stock, valued at approximately $2,152,118.36. This trade represents a 12.58% decrease in their ownership of the stock. The sale was disclosed in a legal filing 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 Microchip Technology stock in a transaction that occurred 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 trade represents a 3.69% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last ninety days, insiders have sold 9,949 shares of company stock worth $864,493. Insiders own 1.79% of the company’s stock.

About Microchip Technology

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.