Ethic Inc. Invests $5.74 Million in Microchip Technology Incorporated $MCHP

Ethic Inc. acquired a new stake in shares of Microchip Technology Incorporated (NASDAQ:MCHP) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 62,938 shares of the semiconductor company’s stock, valued at approximately $5,740,000.

A number of other institutional investors have also made changes to their positions in the stock. EFG International AG acquired a new stake in Microchip Technology in the 4th quarter worth approximately $29,000. Miller Capital Partners Inc. acquired a new position in Microchip Technology during the fourth quarter valued at approximately $29,000. Reflection Asset Management acquired a new position in Microchip Technology during the fourth quarter valued at approximately $33,000. Garton & Associates Financial Advisors LLC bought a new position in shares of Microchip Technology in the fourth quarter valued at approximately $33,000. Finally, Caitong International Asset Management Co. Ltd raised its position in shares of Microchip Technology by 4,663.6% in the fourth 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 institutional investors.

Microchip Technology Stock Down 2.2%

MCHP opened at $77.69 on Friday. The business has a 50 day moving average of $85.90 and a 200-day moving average of $81.49. The stock has a market capitalization of $42.19 billion, a price-to-earnings ratio of 115.96, a P/E/G ratio of 0.62 and a beta of 1.76. The company has a current ratio of 1.92, a quick ratio of 1.11 and a debt-to-equity ratio of 0.83. Microchip Technology Incorporated has a 1-year low of $48.52 and a 1-year high of $105.91.

Microchip Technology (NASDAQ:MCHP) last announced its earnings results on Thursday, August 6th. The semiconductor company reported $0.76 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.70 by $0.06. The business had revenue of $1.48 billion for the quarter, compared to analyst estimates of $1.46 billion. Microchip Technology had a net margin of 9.34% and a return on equity of 14.97%. Microchip Technology’s revenue was up 38.0% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.27 earnings per share. Microchip Technology has set its Q2 2027 guidance at 0.910-0.950 EPS. As a group, sell-side analysts anticipate that Microchip Technology Incorporated will post 2.81 earnings per share for the current year.

Microchip Technology Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 9th. Stockholders of record on Monday, August 24th will be issued a dividend of $0.455 per share. The ex-dividend date is Monday, August 24th. This represents a $1.82 annualized dividend and a dividend yield of 2.3%. Microchip Technology’s payout ratio is presently 271.64%.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on MCHP. Zacks Research raised shares of Microchip Technology from a “hold” rating to a “strong-buy” rating in a report on Tuesday, May 12th. Rosenblatt Securities reiterated a “buy” rating and issued a $120.00 target price on shares of Microchip Technology in a report on Friday, August 7th. Weiss Ratings raised shares of Microchip Technology from a “hold (c-)” rating to a “hold (c)” rating in a research report on Tuesday. Needham & Company LLC upped their price target on shares of Microchip Technology from $84.00 to $120.00 and gave the company a “buy” rating in a report on Friday, May 8th. Finally, Barclays raised their price target on Microchip Technology from $80.00 to $105.00 and gave the company an “equal weight” rating in a research report on Monday, May 11th. Three equities research analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and seven have issued a Hold rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $98.85.

Insider Transactions at Microchip Technology

In other news, Director Matthew W. Chapman sold 3,000 shares of the company’s stock in a transaction dated Thursday, May 28th. The shares were sold at an average price of $97.52, for a total transaction of $292,560.00. Following the completion of the transaction, the director owned 17,665 shares of the company’s stock, valued at approximately $1,722,690.80. This represents a 14.52% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Richard J. Simoncic sold 5,000 shares of the 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 approximately $12,727,140.16. The trade was a 3.69% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders have sold 16,667 shares of company stock worth $1,580,580. 1.79% of the stock is currently owned by company insiders.

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.