Vise Technologies Inc. Takes Position in Microchip Technology Incorporated $MCHP

Vise Technologies Inc. purchased a new position in Microchip Technology Incorporated (NASDAQ:MCHP) in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 9,100 shares of the semiconductor company’s stock, valued at approximately $830,000.

Other hedge funds have also recently made changes to their positions in the company. AQR Capital Management LLC lifted its position in shares of Microchip Technology by 51.3% during the first quarter. AQR Capital Management LLC now owns 17,201 shares of the semiconductor company’s stock valued at $827,000 after buying an additional 5,835 shares during the last quarter. Geneos Wealth Management Inc. grew its position in shares of Microchip Technology by 101.8% in the 1st quarter. Geneos Wealth Management Inc. now owns 1,221 shares of the semiconductor company’s stock worth $59,000 after buying an additional 616 shares during the last quarter. Cresset Asset Management LLC grew its position in shares of Microchip Technology by 5.4% in the 2nd quarter. Cresset Asset Management LLC now owns 11,433 shares of the semiconductor company’s stock worth $805,000 after buying an additional 589 shares during the last quarter. AXA S.A. raised its stake in shares of Microchip Technology by 21.3% during the 2nd quarter. AXA S.A. now owns 51,552 shares of the semiconductor company’s stock worth $3,628,000 after acquiring an additional 9,043 shares in the last quarter. Finally, Treasurer of the State of North Carolina raised its stake in shares of Microchip Technology by 1.6% during the 2nd quarter. Treasurer of the State of North Carolina now owns 246,530 shares of the semiconductor company’s stock worth $17,348,000 after acquiring an additional 3,851 shares in the last quarter. 91.51% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities research analysts have weighed in on the stock. JPMorgan Chase & Co. raised their target price on shares of Microchip Technology from $95.00 to $120.00 and gave the company an “overweight” rating in a research note on Friday, May 8th. Wall Street Zen raised Microchip Technology from a “hold” rating to a “buy” rating in a research report on Saturday, May 9th. Barclays upped their price target on Microchip Technology from $80.00 to $105.00 and gave the stock an “equal weight” rating in a research report on Monday, May 11th. Weiss Ratings raised Microchip Technology from a “hold (c-)” rating to a “hold (c)” rating in a research report on Tuesday, August 11th. Finally, Rosenblatt Securities reissued a “buy” rating and issued a $120.00 price objective on shares of Microchip Technology in a research report on Friday, August 7th. Three research analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and eight have given a Hold rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $98.67.

Insider Buying and Selling

In other Microchip Technology news, CFO James Eric Bjornholt sold 837 shares of the business’s stock in a transaction dated Monday, August 17th. The stock was sold at an average price of $80.26, for a total transaction of $67,177.62. Following the sale, the chief financial officer owned 30,960 shares in the company, valued at approximately $2,484,849.60. The trade was a 2.63% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Matthew W. Chapman sold 3,000 shares of the stock in a transaction dated Thursday, May 28th. The shares were sold at an average price of $97.52, for a total value of $292,560.00. Following the completion of the transaction, the director directly owned 17,665 shares in the company, valued at $1,722,690.80. This represents a 14.52% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 8,837 shares of company stock worth $847,338 in the last 90 days. Insiders own 1.79% of the company’s stock.

Microchip Technology Stock Performance

Shares of Microchip Technology stock opened at $76.08 on Monday. The company has a 50 day moving average price of $84.29 and a 200 day moving average price of $81.51. The firm has a market capitalization of $41.31 billion, a P/E ratio of 113.55, a PEG ratio of 0.53 and a beta of 1.76. 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.

Microchip Technology (NASDAQ:MCHP) last released 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. The company had revenue of $1.48 billion for the quarter, compared to the consensus estimate 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 earned $0.27 EPS. Microchip Technology has set its Q2 2027 guidance at 0.910-0.950 EPS. Sell-side analysts expect that Microchip Technology Incorporated will post 3.16 EPS for the current 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. This represents a $1.82 annualized dividend and a dividend yield of 2.4%. The ex-dividend date of this dividend 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.