58,991 Shares in Microchip Technology Incorporated $MCHP Bought by Empowered Funds LLC

Empowered Funds LLC acquired a new position in Microchip Technology Incorporated (NASDAQ:MCHP) in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 58,991 shares of the semiconductor company’s stock, valued at approximately $5,380,000.

Several other institutional investors and hedge funds have also added to or reduced their stakes in MCHP. United Capital Financial Advisors LLC bought a new stake in shares of Microchip Technology during the 2nd quarter valued at $3,066,000. Bank OZK bought a new position in shares of Microchip Technology in the 2nd quarter worth about $229,000. Public Employees Retirement System of Ohio bought a new position in shares of Microchip Technology in the 2nd quarter worth about $20,933,000. MASTERINVEST Kapitalanlage GmbH purchased a new position in Microchip Technology during the 2nd quarter valued at about $203,000. Finally, PenderFund Capital Management Ltd. purchased a new position in Microchip Technology during the 2nd quarter valued at about $36,000. Hedge funds and other institutional investors own 91.51% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on MCHP shares. JPMorgan Chase & Co. upped their price objective 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. Barclays lifted their target price on shares of Microchip Technology from $80.00 to $105.00 and gave the company an “equal weight” rating in a report on Monday, May 11th. Zacks Research cut Microchip Technology from a “strong-buy” rating to a “hold” rating in a research report on Monday, August 17th. Rosenblatt Securities restated a “buy” rating and issued a $120.00 price target on shares of Microchip Technology in a research note on Friday, August 7th. Finally, Needham & Company LLC raised their price objective on Microchip Technology from $84.00 to $120.00 and gave the company a “buy” rating in a research report on Friday, May 8th. Three investment analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and eight have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $98.67.

Insiders Place Their Bets

In other Microchip Technology news, CFO James Eric Bjornholt sold 4,112 shares of the stock in a transaction 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 completion of the sale, the chief financial officer owned 28,573 shares in the company, valued at approximately $2,152,118.36. This represents a 12.58% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible 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 firm’s stock in a transaction dated Thursday, June 4th. The shares were sold at an average price of $97.52, for a total value 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. This represents a 3.69% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last three months, insiders sold 9,949 shares of company stock valued at $864,493. Corporate insiders own 1.79% of the company’s stock.

Microchip Technology Stock Performance

Shares of MCHP opened at $73.45 on Tuesday. The business has a 50-day simple moving average of $81.32 and a two-hundred day simple moving average of $81.39. 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 stock has a market cap of $39.88 billion, a price-to-earnings ratio of 109.63, a PEG ratio of 0.51 and a beta of 1.76.

Microchip Technology (NASDAQ:MCHP) last posted 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 firm had revenue of $1.48 billion for the quarter, compared to analysts’ expectations of $1.46 billion. Microchip Technology had a return on equity of 14.97% and a net margin of 9.34%.The business’s quarterly revenue was up 38.0% on a year-over-year basis. During the same period in the previous year, the firm earned $0.27 EPS. Microchip Technology has set its Q2 2027 guidance at 0.910-0.950 EPS. On average, analysts expect that Microchip Technology Incorporated will post 3.16 EPS for the current year.

Microchip Technology Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, September 9th. Shareholders 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 2.5%. The ex-dividend date is Monday, August 24th. Microchip Technology’s dividend payout ratio is presently 271.64%.

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.