Ethic Inc. Acquires Shares of 62,938 Microchip Technology Incorporated $MCHP

Ethic Inc. bought a new position in Microchip Technology Incorporated (NASDAQ:MCHP) in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 62,938 shares of the semiconductor company’s stock, valued at approximately $5,740,000.

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

Microchip Technology Stock Performance

Shares of MCHP stock opened at $77.69 on Friday. Microchip Technology Incorporated has a fifty-two week low of $48.52 and a fifty-two week high of $105.91. The stock’s 50-day moving average is $85.90 and its two-hundred day moving average is $81.49. The company has a debt-to-equity ratio of 0.83, a current ratio of 1.92 and a quick ratio of 1.11. The firm has a market cap of $42.19 billion, a P/E ratio of 115.96, a PEG ratio of 0.62 and a beta of 1.76.

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

Microchip Technology Announces Dividend

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

Wall Street Analysts Forecast Growth

MCHP has been the topic of a number of research analyst reports. Wall Street Zen upgraded Microchip Technology from a “hold” rating to a “buy” rating in a report on Saturday, May 9th. Needham & Company LLC increased their price objective on Microchip Technology from $84.00 to $120.00 and gave the stock a “buy” rating in a research note on Friday, May 8th. Barclays raised their price objective 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. JPMorgan Chase & Co. lifted their target price on Microchip Technology from $95.00 to $120.00 and gave the company an “overweight” rating in a research note on Friday, May 8th. Finally, Zacks Research upgraded Microchip Technology from a “hold” rating to a “strong-buy” rating in a report on Tuesday, May 12th. Three analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating and seven have issued a Hold rating to the company. According to MarketBeat.com, Microchip Technology presently has a consensus rating of “Moderate Buy” and an average price target of $98.85.

Insider Buying and Selling at Microchip Technology

In other news, CFO James Eric Bjornholt sold 3,667 shares of the stock in a transaction on Friday, May 22nd. The shares were sold at an average price of $90.87, for a total transaction of $333,220.29. Following the transaction, the chief financial officer owned 28,573 shares in the company, valued at $2,596,428.51. This represents a 11.37% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Matthew W. Chapman sold 3,000 shares of the firm’s stock in a transaction 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. This represents a 14.52% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 16,667 shares of company stock worth $1,580,580 over the last ninety days. 1.79% of the stock is currently owned by insiders.

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.