PDT Partners LLC Takes Position in Microchip Technology Incorporated $MCHP

PDT Partners LLC purchased a new position in Microchip Technology Incorporated (NASDAQ:MCHP) in the second quarter, Holdings Channel.com reports. The fund purchased 135,904 shares of the semiconductor company’s stock, valued at approximately $12,394,000.

Several other large investors have also added to or reduced their stakes in MCHP. EFG International AG purchased a new position in Microchip Technology during the 4th quarter valued at $29,000. Miller Capital Partners Inc. bought a new position in Microchip Technology in the 4th quarter worth $29,000. Continuum Advisory LLC purchased a new stake in shares of Microchip Technology in the 2nd quarter worth about $30,000. Johnson Financial Group Inc. purchased a new stake in shares of Microchip Technology in the 2nd quarter worth about $31,000. Finally, Reflection Asset Management bought a new stake in shares of Microchip Technology during the 4th quarter valued at about $33,000. Institutional investors own 91.51% of the company’s stock.

Insider Transactions at Microchip Technology

In related news, Director Matthew W. Chapman sold 3,000 shares of the firm’s stock in a transaction that occurred on Thursday, May 28th. The stock was sold at an average price of $97.52, for a total transaction of $292,560.00. Following the completion of the transaction, the director owned 17,665 shares of the company’s stock, valued at $1,722,690.80. This trade represents a 14.52% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, COO Richard J. Simoncic sold 5,000 shares of the firm’s stock in a transaction that occurred on Thursday, June 4th. The shares were sold at an average price of $97.52, for a total value of $487,600.00. Following the transaction, the chief operating officer directly owned 130,508 shares of the company’s stock, valued at approximately $12,727,140.16. This trade represents a 3.69% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 8,837 shares of company stock valued at $847,338 in the last ninety days. 1.79% of the stock is currently owned by corporate insiders.

Microchip Technology Stock Down 1.0%

Shares of Microchip Technology stock opened at $73.50 on Wednesday. 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 company has a 50-day moving average of $83.33 and a 200 day moving average of $81.46. The firm has a market cap of $39.91 billion, a price-to-earnings ratio of 109.70, a PEG ratio of 0.52 and a beta of 1.76. Microchip Technology Incorporated has a 1 year low of $48.52 and a 1 year high of $105.91.

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 the consensus estimate of $0.70 by $0.06. The business had revenue of $1.48 billion for the quarter, compared to analyst estimates of $1.46 billion. Microchip Technology had a net margin of 9.34% and a return on equity of 14.97%. Microchip Technology’s quarterly revenue was up 38.0% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.27 earnings per share. Microchip Technology has set its Q2 2027 guidance at 0.910-0.950 EPS. As a group, sell-side analysts anticipate that Microchip Technology Incorporated will post 3.16 earnings per share for the current fiscal year.

Microchip Technology Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 9th. Stockholders of record on Monday, August 24th will be issued a dividend of $0.455 per share. This represents a $1.82 annualized dividend and a dividend yield of 2.5%. The ex-dividend date is Monday, August 24th. Microchip Technology’s dividend payout ratio (DPR) is presently 271.64%.

Analyst Upgrades and Downgrades

MCHP has been the topic of several research analyst reports. 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. TD Cowen lowered their price objective on shares of Microchip Technology from $105.00 to $90.00 and set a “hold” rating for the company in a report on Monday, July 13th. 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 downgraded Microchip Technology from a “strong-buy” rating to a “hold” rating in a report on Monday, August 17th. Finally, UBS Group reissued a “buy” rating and issued a $120.00 target price (down from $130.00) on shares of Microchip Technology in a research report on Friday, August 7th. Three 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 company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $98.67.

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.