Sigma Planning Corp Acquires New Stake in Microchip Technology Incorporated $MCHP

Sigma Planning Corp bought a new stake in shares of Microchip Technology Incorporated (NASDAQ:MCHP) in the second quarter, HoldingsChannel reports. The institutional investor bought 13,966 shares of the semiconductor company’s stock, valued at approximately $1,274,000.

Other institutional investors also recently bought and sold shares of the company. Norges Bank acquired a new stake in shares of Microchip Technology in the fourth quarter valued at about $664,564,000. Barrow Hanley Mewhinney & Strauss LLC purchased a new stake in Microchip Technology during the 2nd quarter valued at about $537,423,000. Barclays PLC raised its holdings in Microchip Technology by 66.5% in the 4th quarter. Barclays PLC now owns 13,996,883 shares of the semiconductor company’s stock valued at $891,881,000 after acquiring an additional 5,590,210 shares during the last quarter. Legal & General Group Plc acquired a new stake in Microchip Technology in the 2nd quarter valued at about $312,597,000. Finally, Rafferty Asset Management LLC lifted its stake in Microchip Technology by 41.0% in the 2nd quarter. Rafferty Asset Management LLC now owns 6,203,762 shares of the semiconductor company’s stock worth $436,559,000 after purchasing an additional 1,803,945 shares in the last quarter. 91.51% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

MCHP has been the topic of several recent analyst reports. Cantor Fitzgerald reiterated an “overweight” rating and issued a $125.00 target price on shares of Microchip Technology in a report on Monday, August 17th. Zacks Research downgraded shares of Microchip Technology from a “strong-buy” rating to a “hold” rating in a report on Monday, August 17th. TD Cowen reduced their price objective on shares of Microchip Technology from $105.00 to $90.00 and set a “hold” rating on the stock in a report on Monday, July 13th. Citigroup decreased 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. Finally, Weiss Ratings raised shares of Microchip Technology from a “hold (c-)” rating to a “hold (c)” rating in a research report on Tuesday, August 11th. Three analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and eight have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, Microchip Technology has an average rating of “Moderate Buy” and an average price target of $98.67.

Insider Activity

In other Microchip Technology news, 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 transaction of $487,600.00. Following the sale, the chief operating officer directly owned 130,508 shares of the company’s stock, valued at $12,727,140.16. This trade represents a 3.69% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO James Eric Bjornholt sold 4,112 shares of the business’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 completion of the transaction, the chief financial officer directly owned 28,573 shares of the company’s stock, valued at approximately $2,152,118.36. This represents a 12.58% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 9,949 shares of company stock valued at $864,493 in the last three months. 1.79% of the stock is currently owned by corporate insiders.

Microchip Technology Trading Up 0.7%

Shares of Microchip Technology stock opened at $73.45 on Tuesday. The company has a fifty day simple moving average of $81.32 and a 200-day simple moving average of $81.39. The stock has a market cap of $39.88 billion, a price-to-earnings ratio of 109.63, a PEG ratio of 0.51 and a beta of 1.76. Microchip Technology Incorporated has a 12-month low of $48.52 and a 12-month high of $105.91. The company has a current ratio of 1.92, a quick ratio of 1.11 and a debt-to-equity ratio of 0.83.

Microchip Technology (NASDAQ:MCHP) last issued its quarterly earnings results on Thursday, August 6th. The semiconductor company reported $0.76 earnings per share (EPS) for the quarter, beating 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 analysts’ expectations of $1.46 billion. During the same quarter in the previous year, the firm posted $0.27 EPS. The firm’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 forecast that Microchip Technology Incorporated will post 3.16 EPS for the current fiscal year.

Microchip Technology Announces Dividend

The business 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 dividend of $0.455 per share. This represents a $1.82 dividend on an annualized basis and a yield of 2.5%. The ex-dividend date is Monday, August 24th. Microchip Technology’s dividend payout ratio (DPR) is currently 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.