8,134 Shares in Microchip Technology Incorporated $MCHP Acquired by Transamerica Financial Advisors LLC

Transamerica Financial Advisors LLC acquired a new stake in shares of Microchip Technology Incorporated (NASDAQ:MCHP) during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 8,134 shares of the semiconductor company’s stock, valued at approximately $742,000.

Other institutional investors have also recently added to or reduced their stakes in the company. Wolverine Asset Management LLC grew its holdings in shares of Microchip Technology by 3,833.7% during the fourth quarter. Wolverine Asset Management LLC now owns 37,921 shares of the semiconductor company’s stock worth $2,416,000 after purchasing an additional 36,957 shares during the last quarter. Vienna Powszechne Towarzystwo Emerytalne S.A. Vienna Insurance Group bought a new stake in Microchip Technology during the 4th quarter worth about $6,691,000. Epoch Investment Partners Inc. increased its position in Microchip Technology by 16.5% in the 4th quarter. Epoch Investment Partners Inc. now owns 1,349,136 shares of the semiconductor company’s stock valued at $85,967,000 after acquiring an additional 191,339 shares in the last quarter. Peregrine Investment Management Inc. bought a new position in shares of Microchip Technology in the first quarter worth about $5,492,000. Finally, Norges Bank acquired a new position in shares of Microchip Technology during the fourth quarter worth approximately $664,564,000. 91.51% of the stock is currently owned by institutional investors and hedge funds.

Microchip Technology Price Performance

Shares of MCHP stock opened at $74.05 on Thursday. 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 12-month low of $48.52 and a 12-month high of $105.91. The firm has a fifty day moving average of $82.92 and a 200-day moving average of $81.43. The firm has a market capitalization of $40.21 billion, a price-to-earnings ratio of 110.52, a price-to-earnings-growth ratio of 0.51 and a beta of 1.76.

Microchip Technology (NASDAQ:MCHP) last posted 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. 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 company’s revenue for the quarter was up 38.0% on a year-over-year basis. Microchip Technology has set its Q2 2027 guidance at 0.910-0.950 EPS. On average, equities research analysts forecast that Microchip Technology Incorporated will post 3.16 earnings per share for the current year.

Microchip Technology Dividend Announcement

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 $0.455 dividend. The ex-dividend date is Monday, August 24th. This represents a $1.82 annualized dividend and a dividend yield of 2.5%. Microchip Technology’s payout ratio is currently 271.64%.

Wall Street Analyst Weigh In

Several research analysts have issued reports on the company. Wall Street Zen raised Microchip Technology from a “hold” rating to a “buy” rating in a report on Saturday, May 9th. Truist Financial dropped their target price on Microchip Technology from $105.00 to $90.00 and set a “hold” rating for the company in a research report on Friday, August 7th. Citigroup cut their price target on Microchip Technology from $113.00 to $95.00 and set a “buy” rating on the stock in a research note on Friday, August 7th. UBS Group reiterated a “buy” rating and issued a $120.00 price objective (down from $130.00) on shares of Microchip Technology in a research report on Friday, August 7th. Finally, Wells Fargo & Company dropped their price objective on Microchip Technology from $95.00 to $88.00 and set an “equal weight” rating for the company in a report on Monday, July 20th. Three research analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and eight have issued a Hold rating to the company’s stock. Based on data from MarketBeat, Microchip Technology currently 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 4,112 shares of the firm’s stock in a transaction that occurred on Tuesday, August 25th. The shares were sold at an average price of $75.32, for a total transaction of $309,715.84. Following the sale, the chief financial officer directly owned 28,573 shares in the company, valued at approximately $2,152,118.36. This trade represents a 12.58% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, COO Richard J. Simoncic sold 5,000 shares of Microchip Technology stock in a transaction that occurred on 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 directly owned 130,508 shares in the company, valued at approximately $12,727,140.16. The trade was a 3.69% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders have sold 9,949 shares of company stock valued at $864,493. 1.79% of the stock is owned by company 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.