Jackson Square Capital LLC Makes New Investment in Microchip Technology Incorporated $MCHP

Jackson Square Capital LLC acquired a new stake in shares of Microchip Technology Incorporated (NASDAQ:MCHP) during the 3rd quarter, HoldingsChannel reports. The fund acquired 12,799 shares of the semiconductor company’s stock, valued at approximately $995,000.

Several other institutional investors have also modified their holdings of the stock. State Street Corp increased its stake in shares of Microchip Technology by 2.9% during the second quarter. State Street Corp now owns 28,851,673 shares of the semiconductor company’s stock worth $2,631,273,000 after purchasing an additional 821,147 shares in the last quarter. Van ECK Associates Corp raised its position in shares of Microchip Technology by 18.3% during the 2nd quarter. Van ECK Associates Corp now owns 8,224,808 shares of the semiconductor company’s stock worth $750,102,000 after purchasing an additional 1,272,838 shares during the last quarter. Artemis Wealth Advisors LLC purchased a new position in Microchip Technology in the 2nd quarter valued at about $541,413,000. Barrow Hanley Mewhinney & Strauss LLC purchased a new position in Microchip Technology in the 2nd quarter valued at about $537,423,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in Microchip Technology by 23.5% in the 2nd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 5,060,528 shares of the semiconductor company’s stock worth $461,520,000 after buying an additional 962,362 shares during the last quarter. Institutional investors and hedge funds own 91.51% of the company’s stock.

Insiders Place Their Bets

In other Microchip Technology news, CFO James Bjornholt sold 4,112 shares of the firm’s stock in a transaction 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 sale, the chief financial officer owned 28,573 shares of the company’s stock, valued at $2,152,118.36. This trade represents a 12.58% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 1.79% of the company’s stock.

Analysts Set New Price Targets

Several research firms have commented on MCHP. Wells Fargo & Company cut their price objective on Microchip Technology from $95.00 to $88.00 and set an “equal weight” rating for the company in a research note on Monday, July 20th. Truist Financial reduced their target price on Microchip Technology from $105.00 to $90.00 and set a “hold” rating for the company in a report on Friday, August 7th. Zacks Research downgraded Microchip Technology from a “strong-buy” rating to a “hold” rating in a research report on Monday, August 17th. BMO Capital Markets started coverage on Microchip Technology in a research note on Friday, August 21st. They issued an “outperform” rating and a $95.00 price target on the stock. Finally, Rosenblatt Securities reiterated a “buy” rating and set a $120.00 price target 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 issued a Buy rating and eight have issued a Hold rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $98.67.

Microchip Technology Trading Up 0.6%

Shares of NASDAQ MCHP traded up $0.44 during trading on Monday, hitting $74.29. 4,032,880 shares of the company were exchanged, compared to its average volume of 10,104,864. Microchip Technology Incorporated has a 12-month low of $48.52 and a 12-month high of $105.91. The company has a debt-to-equity ratio of 0.83, a quick ratio of 1.11 and a current ratio of 1.92. The company has a fifty day moving average price of $75.54 and a 200-day moving average price of $82.59. The firm has a market capitalization of $40.34 billion, a PE ratio of 110.92, a P/E/G ratio of 0.51 and a beta of 1.77.

Microchip Technology (NASDAQ:MCHP) last announced its quarterly earnings results on Thursday, August 6th. The semiconductor company reported $0.76 earnings per share for the quarter, beating the consensus estimate of $0.70 by $0.06. Microchip Technology had a net margin of 9.34% and a return on equity of 14.97%. The firm had revenue of $1.48 billion for the quarter, compared to analysts’ expectations of $1.46 billion. During the same quarter in the previous year, the company posted $0.27 EPS. The company’s revenue was up 38.0% compared to the same quarter last year. Microchip Technology has set its Q2 2027 guidance at 0.910-0.950 EPS. As a group, equities research analysts expect that Microchip Technology Incorporated will post 3.20 EPS for the current year.

Microchip Technology Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, September 9th. Investors of record on Monday, August 24th were given a $0.4550 dividend. This represents a $1.82 annualized dividend and a yield of 2.4%. The ex-dividend date was Monday, August 24th. Microchip Technology’s dividend payout ratio is presently 271.64%.

About Microchip Technology

Microchip Technology Incorporated (NASDAQ:MCHP) develops and manufactures semiconductor products used in embedded control and connected electronic systems. Its portfolio includes microcontrollers, microprocessors, analog and power-management devices, memory products, timing and connectivity components, security solutions, and field-programmable gate arrays. The company also provides development tools, software, evaluation kits, and technical support to help customers design and produce electronic equipment.

Microchip’s products are used across a range of markets, including automotive, industrial, aerospace and defense, communications, consumer electronics, data centers, and medical applications.