Daiwa Securities Group Inc. Boosts Position in Microchip Technology Incorporated $MCHP

Daiwa Securities Group Inc. grew its stake in shares of Microchip Technology Incorporated (NASDAQ:MCHP) by 4.2% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 195,349 shares of the semiconductor company’s stock after buying an additional 7,884 shares during the period. Daiwa Securities Group Inc.’s holdings in Microchip Technology were worth $17,816,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. EFG International AG purchased a new position in Microchip Technology during the fourth quarter valued at approximately $29,000. Miller Capital Partners Inc. purchased a new stake in Microchip Technology in the 4th quarter worth approximately $29,000. Garton & Associates Financial Advisors LLC purchased a new stake in Microchip Technology in the 4th quarter worth approximately $33,000. Reflection Asset Management bought a new position in Microchip Technology in the 4th quarter valued at $33,000. Finally, Caitong International Asset Management Co. Ltd boosted its holdings in Microchip Technology by 4,663.6% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 524 shares of the semiconductor company’s stock valued at $33,000 after purchasing an additional 513 shares during the period. 91.51% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on MCHP shares. Needham & Company LLC upped their price target on shares of Microchip Technology from $84.00 to $120.00 and gave the stock a “buy” rating in a report on Friday, May 8th. Citigroup reduced their target price 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. Wells Fargo & Company decreased their target price on Microchip Technology from $95.00 to $88.00 and set an “equal weight” rating on the stock in a research note on Monday, July 20th. Weiss Ratings raised Microchip Technology from a “hold (c-)” rating to a “hold (c)” rating in a report on Tuesday. Finally, Cantor Fitzgerald reiterated an “overweight” rating and set a $125.00 price target on shares of Microchip Technology in a research report on Monday, August 3rd. Three analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and seven have assigned a Hold rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $98.85.

Insiders Place Their Bets

In other Microchip Technology news, CFO James Eric Bjornholt sold 3,667 shares of the company’s stock in a transaction that occurred on Friday, May 22nd. The stock was 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 of the company’s stock, valued at $2,596,428.51. This represents a 11.37% decrease in their ownership of the stock. The sale was disclosed in a 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, Director Matthew W. Chapman sold 3,000 shares of the stock in a transaction that occurred on Thursday, May 28th. The shares were sold at an average price of $97.52, for a total transaction of $292,560.00. Following the transaction, the director owned 17,665 shares in the company, valued at $1,722,690.80. The trade was a 14.52% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 16,667 shares of company stock valued at $1,580,580 over the last quarter. 1.79% of the stock is owned by corporate insiders.

Microchip Technology Stock Up 1.9%

MCHP opened at $79.17 on Friday. The business’s fifty day simple moving average is $85.72 and its 200 day simple moving average is $81.47. Microchip Technology Incorporated has a 52 week low of $48.52 and a 52 week high of $105.91. The company has a quick ratio of 1.11, a current ratio of 1.92 and a debt-to-equity ratio of 0.83. The stock has a market cap of $42.99 billion, a PE ratio of 118.17, a P/E/G ratio of 0.61 and a beta of 1.76.

Microchip Technology (NASDAQ:MCHP) last issued its quarterly earnings results on Thursday, August 6th. The semiconductor company reported $0.76 earnings per share (EPS) 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 firm had revenue of $1.48 billion during the quarter, compared to analyst estimates of $1.46 billion. During the same quarter in the previous year, the company posted $0.27 earnings per share. The company’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, research analysts expect that Microchip Technology Incorporated will post 2.81 earnings per share for the current fiscal year.

Microchip Technology Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 9th. Investors of record on Monday, August 24th will be given 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 2.3%. Microchip Technology’s 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.