Tribune Investment Group LP Invests $4.71 Million in Microchip Technology Incorporated $MCHP

Tribune Investment Group LP purchased a new stake in shares of Microchip Technology Incorporated (NASDAQ:MCHP) in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund purchased 51,590 shares of the semiconductor company’s stock, valued at approximately $4,705,000. Microchip Technology comprises approximately 1.9% of Tribune Investment Group LP’s holdings, making the stock its 15th biggest position.

Several other large investors have also made changes to their positions in the company. Vienna Powszechne Towarzystwo Emerytalne S.A. Vienna Insurance Group acquired a new stake in shares of Microchip Technology in the 4th quarter valued at $6,691,000. Peregrine Investment Management Inc. bought a new stake in Microchip Technology in the first quarter worth $5,492,000. Epoch Investment Partners Inc. increased its position in Microchip Technology by 16.5% during the fourth quarter. Epoch Investment Partners Inc. now owns 1,349,136 shares of the semiconductor company’s stock worth $85,967,000 after buying an additional 191,339 shares during the last quarter. Norges Bank acquired a new position in Microchip Technology during the fourth quarter worth $664,564,000. Finally, Hosking Partners LLP raised its holdings in Microchip Technology by 6.4% during the fourth quarter. Hosking Partners LLP now owns 240,169 shares of the semiconductor company’s stock valued at $15,304,000 after buying an additional 14,499 shares in the last quarter. Institutional investors own 91.51% of the company’s stock.

Insider Activity at Microchip Technology

In other news, CFO James Bjornholt sold 4,112 shares of the company’s stock in a transaction that occurred on Tuesday, August 25th. The stock was sold at an average price of $75.32, for a total transaction of $309,715.84. Following the completion of the transaction, the chief financial officer directly owned 28,573 shares in the company, valued at $2,152,118.36. The trade was a 12.58% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 1.79% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

MCHP has been the subject of a number of analyst reports. UBS Group reaffirmed a “buy” rating and issued a $120.00 price target (down from $130.00) on shares of Microchip Technology in a research report on Friday, August 7th. Zacks Research downgraded Microchip Technology from a “strong-buy” rating to a “hold” rating in a research note on Monday, August 17th. Rosenblatt Securities reissued a “buy” rating and issued a $120.00 price objective on shares of Microchip Technology in a research note on Friday, August 7th. Cantor Fitzgerald restated an “overweight” rating and issued a $125.00 target price on shares of Microchip Technology in a report on Monday, August 17th. Finally, Susquehanna upped their target price on Microchip Technology from $95.00 to $120.00 and gave the stock a “positive” rating in a research report on Friday, May 8th. Three equities research analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating and eight have issued a Hold rating to the stock. According to MarketBeat.com, Microchip Technology currently has a consensus rating of “Moderate Buy” and a consensus price target of $98.67.

Microchip Technology Stock Up 0.5%

MCHP stock opened at $73.11 on Friday. The stock has a market capitalization of $39.70 billion, a price-to-earnings ratio of 109.12, a price-to-earnings-growth ratio of 0.51 and a beta of 1.75. The company has a 50-day moving average of $80.07 and a two-hundred day moving average of $81.25. Microchip Technology Incorporated has a 52-week low of $48.52 and a 52-week high of $105.91. The company has a debt-to-equity ratio of 0.83, a current ratio of 1.92 and a quick ratio of 1.11.

Microchip Technology (NASDAQ:MCHP) last posted its quarterly earnings data on Thursday, August 6th. The semiconductor company reported $0.76 EPS for the quarter, topping analysts’ consensus estimates of $0.70 by $0.06. Microchip Technology had a return on equity of 14.97% and a net margin of 9.34%.The business had revenue of $1.48 billion for the quarter, compared to analyst estimates of $1.46 billion. During the same period in the previous year, the company posted $0.27 earnings per share. The firm’s revenue for the quarter was up 38.0% on a year-over-year basis. Microchip Technology has set its Q2 2027 guidance at 0.910-0.950 EPS. As a group, equities research analysts anticipate that Microchip Technology Incorporated will post 3.16 EPS for the current year.

Microchip Technology Dividend Announcement

The firm 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 annualized dividend and a yield of 2.5%. The ex-dividend date of this dividend is Monday, August 24th. Microchip Technology’s payout ratio is currently 271.64%.

Microchip Technology Company 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.