Quantbot Technologies LP Makes New Investment in Microchip Technology Incorporated $MCHP

Quantbot Technologies LP bought a new stake in shares of Microchip Technology Incorporated (NASDAQ:MCHP) in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor bought 6,871 shares of the semiconductor company’s stock, valued at approximately $627,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of MCHP. AQR Capital Management LLC raised its stake in Microchip Technology by 51.3% during the first quarter. AQR Capital Management LLC now owns 17,201 shares of the semiconductor company’s stock valued at $827,000 after purchasing an additional 5,835 shares in the last quarter. Geneos Wealth Management Inc. increased its holdings in shares of Microchip Technology by 101.8% in the 1st quarter. Geneos Wealth Management Inc. now owns 1,221 shares of the semiconductor company’s stock worth $59,000 after buying an additional 616 shares during the last quarter. Cresset Asset Management LLC increased its holdings in shares of Microchip Technology by 5.4% in the 2nd quarter. Cresset Asset Management LLC now owns 11,433 shares of the semiconductor company’s stock worth $805,000 after buying an additional 589 shares during the last quarter. AXA S.A. raised its position in shares of Microchip Technology by 21.3% during the 2nd quarter. AXA S.A. now owns 51,552 shares of the semiconductor company’s stock valued at $3,628,000 after buying an additional 9,043 shares in the last quarter. Finally, Treasurer of the State of North Carolina lifted its holdings in shares of Microchip Technology by 1.6% in the 2nd quarter. Treasurer of the State of North Carolina now owns 246,530 shares of the semiconductor company’s stock valued at $17,348,000 after acquiring an additional 3,851 shares during the last quarter. 91.51% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities research analysts have weighed in on the company. BMO Capital Markets began coverage on Microchip Technology in a research note on Friday, August 21st. They set an “outperform” rating and a $95.00 price objective on the stock. JPMorgan Chase & Co. lifted their target price on Microchip Technology from $95.00 to $120.00 and gave the stock an “overweight” rating in a report on Friday, May 8th. Cantor Fitzgerald reissued an “overweight” rating and set a $125.00 target price on shares of Microchip Technology in a research report on Monday, August 17th. UBS Group restated a “buy” rating and set a $120.00 price target (down from $130.00) on shares of Microchip Technology in a report on Friday, August 7th. Finally, Needham & Company LLC raised their price target on Microchip Technology from $84.00 to $120.00 and gave the stock a “buy” rating in a research report on Friday, May 8th. Three equities research 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’s stock. According to data from MarketBeat.com, Microchip Technology currently has an average rating of “Moderate Buy” and a consensus target price of $98.67.

Insider Buying and Selling at Microchip Technology

In other news, CFO James Eric Bjornholt sold 4,112 shares of the business’s 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 completion of the sale, the chief financial officer directly owned 28,573 shares of the company’s stock, valued at approximately $2,152,118.36. The trade was a 12.58% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed 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 the company’s stock in a transaction dated Thursday, June 4th. The stock was 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 owned 130,508 shares in the company, valued at approximately $12,727,140.16. The trade was a 3.69% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders have sold 9,949 shares of company stock valued at $864,493. Corporate insiders own 1.79% of the company’s stock.

Microchip Technology Stock Up 1.9%

Shares of NASDAQ:MCHP opened at $75.49 on Friday. Microchip Technology Incorporated has a 1 year low of $48.52 and a 1 year high of $105.91. The business has a 50 day simple moving average of $82.44 and a two-hundred day simple moving average of $81.43. The firm has a market capitalization of $40.99 billion, a PE ratio of 112.67, a price-to-earnings-growth ratio of 0.52 and a beta of 1.76. The company has a debt-to-equity ratio of 0.83, a current ratio of 1.92 and a quick ratio of 1.11.

Microchip Technology (NASDAQ:MCHP) last issued its quarterly 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 the consensus estimate of $1.46 billion. During the same period in the prior year, the business 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 analysts predict that Microchip Technology Incorporated will post 3.16 EPS for the current year.

Microchip Technology Dividend Announcement

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 given a dividend of $0.455 per share. This represents a $1.82 annualized dividend and a dividend yield of 2.4%. The ex-dividend date is Monday, August 24th. Microchip Technology’s dividend payout ratio (DPR) is 271.64%.

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.