Van ECK Associates Corp Has $750.10 Million Stock Position in Microchip Technology Incorporated $MCHP

Van ECK Associates Corp increased its stake in Microchip Technology Incorporated (NASDAQ:MCHP) by 18.3% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 8,224,808 shares of the semiconductor company’s stock after purchasing an additional 1,272,838 shares during the quarter. Van ECK Associates Corp’s holdings in Microchip Technology were worth $750,102,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently bought and sold shares of the company. State Street Corp lifted its position in shares of Microchip Technology by 2.8% in the 4th quarter. State Street Corp now owns 28,863,048 shares of the semiconductor company’s stock valued at $1,839,153,000 after acquiring an additional 783,157 shares in the last quarter. Boston Partners raised its stake in Microchip Technology by 9.5% during the 3rd quarter. Boston Partners now owns 16,234,332 shares of the semiconductor company’s stock valued at $1,044,024,000 after purchasing an additional 1,406,885 shares during the period. Geode Capital Management LLC raised its stake in Microchip Technology by 1.4% during the 4th quarter. Geode Capital Management LLC now owns 15,394,985 shares of the semiconductor company’s stock valued at $977,638,000 after purchasing an additional 213,188 shares during the period. Invesco Ltd. raised its stake in Microchip Technology by 4.8% during the 4th quarter. Invesco Ltd. now owns 14,992,128 shares of the semiconductor company’s stock valued at $955,298,000 after purchasing an additional 684,561 shares during the period. Finally, Barclays PLC lifted its holdings in shares of Microchip Technology by 66.5% in the fourth quarter. Barclays PLC now owns 13,996,883 shares of the semiconductor company’s stock valued at $891,881,000 after purchasing an additional 5,590,210 shares in the last quarter. 91.51% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Microchip Technology news, CFO James Eric Bjornholt sold 4,112 shares of the stock in a transaction 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 transaction, the chief financial officer directly owned 28,573 shares of the company’s stock, valued at $2,152,118.36. This represents a 12.58% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, COO Richard J. Simoncic sold 5,000 shares of the firm’s stock in a transaction dated 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 owned 130,508 shares in the company, valued at approximately $12,727,140.16. This trade represents a 3.69% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 9,949 shares of company stock valued at $864,493 over the last quarter. 1.79% of the stock is currently owned by corporate insiders.

Microchip Technology Trading Down 3.4%

Shares of NASDAQ MCHP opened at $72.93 on Friday. The business has a 50 day simple moving average of $81.90 and a 200 day simple moving average of $81.37. Microchip Technology Incorporated has a 52 week low of $48.52 and a 52 week high of $105.91. The stock has a market cap of $39.60 billion, a price-to-earnings ratio of 108.85, a PEG ratio of 0.53 and a beta of 1.76. The company has a debt-to-equity ratio of 0.83, a quick ratio of 1.11 and a current ratio of 1.92.

Microchip Technology (NASDAQ:MCHP) last issued its quarterly earnings data 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. The firm 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%. The company’s revenue for the quarter was up 38.0% on a year-over-year basis. During the same quarter last year, the firm earned $0.27 earnings per share. Microchip Technology has set its Q2 2027 guidance at 0.910-0.950 EPS. On average, research analysts predict that Microchip Technology Incorporated will post 3.16 earnings per share for the current fiscal 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 paid a $0.455 dividend. This represents a $1.82 annualized dividend and a dividend yield of 2.5%. The ex-dividend date of this dividend is Monday, August 24th. Microchip Technology’s payout ratio is presently 271.64%.

Wall Street Analysts Forecast Growth

MCHP has been the subject of several recent analyst reports. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $125.00 target price on shares of Microchip Technology in a research report on Monday, August 17th. Truist Financial reduced their price objective on Microchip Technology from $105.00 to $90.00 and set a “hold” rating for the company in a research note on Friday, August 7th. Weiss Ratings upgraded Microchip Technology from a “hold (c-)” rating to a “hold (c)” rating in a research report on Tuesday, August 11th. Zacks Research cut Microchip Technology from a “strong-buy” rating to a “hold” rating in a research note on Monday, August 17th. Finally, Barclays raised their price target on shares of Microchip Technology from $80.00 to $105.00 and gave the stock an “equal weight” rating in a report on Monday, May 11th. Three investment analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating and eight have assigned a Hold rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $98.67.

Microchip Technology Company 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.