Daiwa Securities Group Inc. Increases Stock Holdings in Microchip Technology Incorporated $MCHP

Daiwa Securities Group Inc. increased its stake in shares of Microchip Technology Incorporated (NASDAQ:MCHP) by 4.2% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 195,349 shares of the semiconductor company’s stock after buying an additional 7,884 shares during the quarter. Daiwa Securities Group Inc.’s holdings in Microchip Technology were worth $17,816,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of MCHP. Associated Banc Corp grew its stake in shares of Microchip Technology by 1.1% in the 2nd quarter. Associated Banc Corp now owns 41,202 shares of the semiconductor company’s stock worth $3,758,000 after acquiring an additional 463 shares in the last quarter. Great Lakes Retirement Inc. lifted its position in shares of Microchip Technology by 7.2% during the second quarter. Great Lakes Retirement Inc. now owns 22,113 shares of the semiconductor company’s stock valued at $2,017,000 after purchasing an additional 1,480 shares in the last quarter. Assetmark Inc. boosted its holdings in Microchip Technology by 7.5% during the second quarter. Assetmark Inc. now owns 7,480 shares of the semiconductor company’s stock worth $682,000 after purchasing an additional 523 shares during the last quarter. Tokio Marine Asset Management Co. Ltd. grew its position in Microchip Technology by 2.9% in the 2nd quarter. Tokio Marine Asset Management Co. Ltd. now owns 23,284 shares of the semiconductor company’s stock worth $2,124,000 after purchasing an additional 648 shares in the last quarter. Finally, Rogco LP increased its stake in Microchip Technology by 4.9% in the 2nd quarter. Rogco LP now owns 9,652 shares of the semiconductor company’s stock valued at $880,000 after buying an additional 447 shares during the last quarter. 91.51% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

MCHP has been the topic of a number of research analyst reports. Needham & Company LLC boosted their target price on Microchip Technology from $84.00 to $120.00 and gave the stock a “buy” rating in a research note on Friday, May 8th. Wells Fargo & Company cut their price objective on Microchip Technology from $95.00 to $88.00 and set an “equal weight” rating on the stock in a research report on Monday, July 20th. Zacks Research raised Microchip Technology from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, May 12th. Rosenblatt Securities reiterated a “buy” rating and set a $120.00 target price on shares of Microchip Technology in a research note on Friday, August 7th. Finally, JPMorgan Chase & Co. increased their price target on shares of Microchip Technology from $95.00 to $120.00 and gave the company an “overweight” rating in a research report on Friday, May 8th. Three research analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and seven have given a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $98.85.

Insider Buying and Selling at Microchip Technology

In other Microchip Technology news, 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 transaction, the chief operating officer owned 130,508 shares in the company, valued at $12,727,140.16. This trade represents a 3.69% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Matthew W. Chapman sold 3,000 shares of the business’s 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 completion of the sale, the director directly owned 17,665 shares in the company, valued at approximately $1,722,690.80. This trade represents a 14.52% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 16,667 shares of company stock valued at $1,580,580 over the last three months. 1.79% of the stock is currently owned by insiders.

Microchip Technology Price Performance

Shares of NASDAQ MCHP opened at $79.17 on Friday. The company has a current ratio of 1.92, a quick ratio of 1.11 and a debt-to-equity ratio of 0.83. The stock has a fifty day simple moving average of $85.72 and a two-hundred day simple moving average of $81.47. Microchip Technology Incorporated has a 1-year low of $48.52 and a 1-year high of $105.91. The firm has a market cap of $42.99 billion, a price-to-earnings ratio of 118.17, a price-to-earnings-growth ratio of 0.61 and a beta of 1.76.

Microchip Technology (NASDAQ:MCHP) last issued its 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. 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 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 business’s revenue was up 38.0% on a year-over-year basis. Microchip Technology has set its Q2 2027 guidance at 0.910-0.950 EPS. Analysts anticipate that Microchip Technology Incorporated will post 2.81 earnings per share for the current year.

Microchip Technology Announces Dividend

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

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.