Mitsubishi UFJ Trust & Banking Corp Purchases 20,040 Shares of Microchip Technology Incorporated $MCHP

Mitsubishi UFJ Trust & Banking Corp boosted its holdings in Microchip Technology Incorporated (NASDAQ:MCHP) by 8.4% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 258,456 shares of the semiconductor company’s stock after purchasing an additional 20,040 shares during the quarter. Mitsubishi UFJ Trust & Banking Corp’s holdings in Microchip Technology were worth $23,571,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of MCHP. Norges Bank bought a new position in shares of Microchip Technology in the fourth quarter valued at $664,564,000. Barclays PLC grew its holdings in shares of Microchip Technology by 66.5% during the fourth quarter. Barclays PLC now owns 13,996,883 shares of the semiconductor company’s stock valued at $891,881,000 after buying an additional 5,590,210 shares during the last quarter. Rafferty Asset Management LLC increased its position in shares of Microchip Technology by 41.0% during the second quarter. Rafferty Asset Management LLC now owns 6,203,762 shares of the semiconductor company’s stock worth $436,559,000 after acquiring an additional 1,803,945 shares in the last quarter. Ameriprise Financial Inc. raised its holdings in shares of Microchip Technology by 255.7% in the 2nd quarter. Ameriprise Financial Inc. now owns 2,135,140 shares of the semiconductor company’s stock worth $150,271,000 after acquiring an additional 1,534,829 shares during the last quarter. Finally, Worldquant Millennium Advisors LLC acquired a new stake in shares of Microchip Technology in the 2nd quarter worth about $101,359,000. Institutional investors own 91.51% of the company’s stock.

Insider Activity at Microchip Technology

In other Microchip Technology news, CFO James Eric Bjornholt sold 3,667 shares of the firm’s stock in a transaction on Friday, May 22nd. The stock was sold at an average price of $90.87, for a total value of $333,220.29. Following the completion of the sale, the chief financial officer directly owned 28,573 shares of the company’s stock, valued at $2,596,428.51. This trade represents a 11.37% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available 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 business’s stock in a transaction on Thursday, June 4th. The shares were sold at an average price of $97.52, for a total value of $487,600.00. Following the completion of the sale, 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. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders have sold 16,667 shares of company stock worth $1,580,580. Insiders own 1.79% of the company’s stock.

Analyst Ratings Changes

Several equities analysts recently weighed in on MCHP shares. Needham & Company LLC raised their price target on shares of Microchip Technology from $84.00 to $120.00 and gave the company a “buy” rating in a research report on Friday, May 8th. Zacks Research raised Microchip Technology from a “hold” rating to a “strong-buy” rating in a report on Tuesday, May 12th. Truist Financial lowered 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. Cantor Fitzgerald restated an “overweight” rating and issued a $125.00 target price on shares of Microchip Technology in a report on Monday, August 3rd. Finally, Weiss Ratings raised Microchip Technology from a “hold (c-)” rating to a “hold (c)” rating in a research report on Tuesday. Three research analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and seven have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $98.85.

Microchip Technology Stock Performance

Shares of MCHP stock opened at $79.17 on Friday. The firm has a market cap of $42.99 billion, a price-to-earnings ratio of 118.17, a P/E/G ratio of 0.62 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 Incorporated has a 52 week low of $48.52 and a 52 week high of $105.91. The firm’s 50-day simple moving average is $85.72 and its two-hundred day simple moving average is $81.47.

Microchip Technology (NASDAQ:MCHP) last released its earnings results on Thursday, August 6th. The semiconductor company reported $0.76 earnings per share for the quarter, beating analysts’ consensus estimates of $0.70 by $0.06. Microchip Technology had a net margin of 9.34% and a return on equity of 14.97%. The firm had revenue of $1.48 billion for the quarter, compared to analysts’ expectations of $1.46 billion. During the same period in the previous year, the company earned $0.27 earnings per share. The company’s quarterly revenue was up 38.0% on a year-over-year basis. Microchip Technology has set its Q2 2027 guidance at 0.910-0.950 EPS. As a group, equities analysts forecast that Microchip Technology Incorporated will post 2.81 earnings per share for the current year.

Microchip Technology Dividend Announcement

The company 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. The ex-dividend date is Monday, August 24th. This represents a $1.82 annualized dividend and a yield of 2.3%. Microchip Technology’s dividend payout ratio is presently 271.64%.

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.