OVERSEA CHINESE BANKING Corp Ltd Buys New Stake in Microchip Technology Incorporated $MCHP

OVERSEA CHINESE BANKING Corp Ltd purchased a new stake in Microchip Technology Incorporated (NASDAQ:MCHP) during the second quarter, HoldingsChannel.com reports. The fund purchased 11,017 shares of the semiconductor company’s stock, valued at approximately $1,005,000.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the business. Resonant Capital Advisors LLC boosted its position in shares of Microchip Technology by 0.9% during the 1st quarter. Resonant Capital Advisors LLC now owns 12,542 shares of the semiconductor company’s stock worth $810,000 after acquiring an additional 118 shares in the last quarter. Apella Capital LLC increased its holdings in shares of Microchip Technology by 4.8% in the 2nd quarter. Apella Capital LLC now owns 2,669 shares of the semiconductor company’s stock valued at $225,000 after acquiring an additional 122 shares during the last quarter. Bridgewater Advisors Inc. increased its holdings in shares of Microchip Technology by 4.2% in the 2nd quarter. Bridgewater Advisors Inc. now owns 3,331 shares of the semiconductor company’s stock valued at $304,000 after acquiring an additional 133 shares during the last quarter. MCF Advisors LLC raised its position in shares of Microchip Technology by 25.8% during the 4th quarter. MCF Advisors LLC now owns 659 shares of the semiconductor company’s stock worth $42,000 after acquiring an additional 135 shares in the last quarter. Finally, Gagnon Securities LLC raised its position in shares of Microchip Technology by 0.5% during the 4th quarter. Gagnon Securities LLC now owns 27,162 shares of the semiconductor company’s stock worth $1,731,000 after acquiring an additional 137 shares in the last quarter. 91.51% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Microchip Technology

In related news, CFO James Eric Bjornholt sold 837 shares of the company’s stock in a transaction on Monday, August 17th. The shares were sold at an average price of $80.26, for a total value of $67,177.62. Following the completion of the sale, the chief financial officer owned 30,960 shares in the company, valued at $2,484,849.60. This represents a 2.63% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Matthew W. Chapman sold 3,000 shares of the company’s stock in a transaction on Thursday, May 28th. The shares were sold at an average price of $97.52, for a total transaction of $292,560.00. Following the completion of the sale, the director owned 17,665 shares of the company’s stock, valued at approximately $1,722,690.80. This trade represents a 14.52% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders have sold 8,837 shares of company stock worth $847,338. Insiders own 1.79% of the company’s stock.

Microchip Technology Stock Up 0.4%

Microchip Technology stock opened at $76.08 on Friday. Microchip Technology Incorporated has a fifty-two week low of $48.52 and a fifty-two 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 market capitalization of $41.31 billion, a P/E ratio of 113.55, a PEG ratio of 0.53 and a beta of 1.76. The stock has a 50-day simple moving average of $84.29 and a 200-day simple moving average of $81.49.

Microchip Technology (NASDAQ:MCHP) last announced its earnings results on Thursday, August 6th. The semiconductor company reported $0.76 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.70 by $0.06. The firm had revenue of $1.48 billion during the quarter, compared to analysts’ expectations of $1.46 billion. Microchip Technology had a return on equity of 14.97% and a net margin of 9.34%.The business’s revenue was up 38.0% on a year-over-year basis. During the same period in the prior year, the firm earned $0.27 EPS. Microchip Technology has set its Q2 2027 guidance at 0.910-0.950 EPS. Equities research analysts expect that Microchip Technology Incorporated will post 3.16 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. Stockholders of record on Monday, August 24th will be issued a $0.455 dividend. This represents a $1.82 annualized dividend and a dividend yield of 2.4%. The ex-dividend date of this dividend is Monday, August 24th. Microchip Technology’s dividend payout ratio is presently 271.64%.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on MCHP. Weiss Ratings raised Microchip Technology from a “hold (c-)” rating to a “hold (c)” rating in a report on Tuesday, August 11th. Rosenblatt Securities reissued a “buy” rating and set a $120.00 price objective on shares of Microchip Technology in a report on Friday, August 7th. JPMorgan Chase & Co. raised their price objective on shares of Microchip Technology from $95.00 to $120.00 and gave the stock an “overweight” rating in a report on Friday, May 8th. Wells Fargo & Company reduced their price objective on shares of Microchip Technology from $95.00 to $88.00 and set an “equal weight” rating for the company in a research report on Monday, July 20th. Finally, Wall Street Zen upgraded shares of Microchip Technology from a “hold” rating to a “buy” rating in a report on Saturday, May 9th. Two research analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and eight have assigned a Hold rating to the company. According to data from MarketBeat.com, Microchip Technology 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.