Elevation Point Wealth Partners LLC Makes New Investment in Microchip Technology Incorporated $MCHP

Elevation Point Wealth Partners LLC purchased a new stake in Microchip Technology Incorporated (NASDAQ:MCHP) in the 2nd quarter, Holdings Channel.com reports. The institutional investor purchased 32,118 shares of the semiconductor company’s stock, valued at approximately $2,929,000.

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

Microchip Technology Stock Up 0.4%

Shares of NASDAQ:MCHP opened at $76.08 on Friday. The company has a market capitalization of $41.31 billion, a PE ratio of 113.55, a price-to-earnings-growth ratio of 0.53 and a beta of 1.76. Microchip Technology Incorporated has a 52-week low of $48.52 and a 52-week 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 of $84.29 and a 200-day moving average of $81.49.

Microchip Technology (NASDAQ:MCHP) last announced its quarterly earnings results on Thursday, August 6th. The semiconductor company reported $0.76 EPS for the quarter, beating analysts’ consensus estimates 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 last year, the firm posted $0.27 earnings per share. The business’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 analysts predict that Microchip Technology Incorporated will post 3.16 EPS for the current fiscal year.

Microchip Technology Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, September 9th. Stockholders of record on Monday, August 24th will be paid a dividend of $0.455 per share. The ex-dividend date of this dividend is Monday, August 24th. This represents a $1.82 annualized dividend and a dividend yield of 2.4%. Microchip Technology’s dividend payout ratio (DPR) is presently 271.64%.

Insider Buying and Selling

In other Microchip Technology news, Director Matthew W. Chapman sold 3,000 shares of Microchip Technology stock in a transaction dated Thursday, May 28th. The stock was sold at an average price of $97.52, for a total transaction of $292,560.00. Following the transaction, the director directly owned 17,665 shares of the company’s stock, valued at approximately $1,722,690.80. The trade was a 14.52% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, COO Richard J. Simoncic sold 5,000 shares of Microchip Technology stock in a transaction that occurred on Thursday, June 4th. The stock was sold at an average price of $97.52, for a total value 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. This 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 a total of 8,837 shares of company stock valued at $847,338 in the last three months. Insiders own 1.79% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on MCHP shares. Wells Fargo & Company decreased their price target on Microchip Technology from $95.00 to $88.00 and set an “equal weight” rating on the stock in a research note on Monday, July 20th. UBS Group reaffirmed a “buy” rating and issued a $120.00 price objective (down from $130.00) on shares of Microchip Technology in a research note on Friday, August 7th. BMO Capital Markets assumed coverage on Microchip Technology in a research report on Friday. They issued an “outperform” rating and a $95.00 target price on the stock. Weiss Ratings upgraded Microchip Technology from a “hold (c-)” rating to a “hold (c)” rating in a research report on Tuesday, August 11th. Finally, 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. Three research analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating and eight have issued a Hold rating to the stock. According to data from MarketBeat, the stock has a consensus 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.