Korea Investment CORP Acquires Shares of 361,117 Microchip Technology Incorporated $MCHP

Korea Investment CORP purchased a new position in Microchip Technology Incorporated (NASDAQ:MCHP) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 361,117 shares of the semiconductor company’s stock, valued at approximately $32,934,000.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. EP Wealth Advisors LLC purchased a new stake in shares of Microchip Technology in the 2nd quarter worth approximately $778,000. Rakuten Securities Inc. bought a new position in shares of Microchip Technology during the second quarter valued at $34,000. Ieq Capital LLC purchased a new position in shares of Microchip Technology in the 2nd quarter worth about $2,518,000. Callan Family Office LLC purchased a new position in shares of Microchip Technology in the 2nd quarter worth about $9,707,000. Finally, Keebeck Wealth Management bought a new position in Microchip Technology in the 2nd quarter worth about $265,000. Institutional investors own 91.51% of the company’s stock.

Analysts Set New Price Targets

Several analysts recently commented on MCHP shares. Barclays increased their price objective on shares of Microchip Technology from $80.00 to $105.00 and gave the company an “equal weight” rating in a research report on Monday, May 11th. JPMorgan Chase & Co. upped their target price on shares of Microchip Technology from $95.00 to $120.00 and gave the stock an “overweight” rating in a research note on Friday, May 8th. BMO Capital Markets assumed coverage on shares of Microchip Technology in a report on Friday. They set an “outperform” rating and a $95.00 price target on the stock. Wells Fargo & Company reduced their price target 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, Citigroup decreased their price objective on shares of Microchip Technology from $113.00 to $95.00 and set a “buy” rating for the company in a report on Friday, August 7th. Three 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 company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $98.67.

Microchip Technology Stock Performance

Shares of MCHP stock opened at $76.08 on Friday. The company has a 50 day moving average price of $84.29 and a 200-day moving average price of $81.49. Microchip Technology Incorporated has a 52 week low of $48.52 and a 52 week high of $105.91. The firm has a market capitalization of $41.31 billion, a PE ratio of 113.55, a P/E/G ratio of 0.53 and a beta of 1.76. The company has a quick ratio of 1.11, a current ratio of 1.92 and a debt-to-equity ratio of 0.83.

Microchip Technology (NASDAQ:MCHP) last released its quarterly earnings data on Thursday, August 6th. The semiconductor company reported $0.76 earnings per share for the quarter, beating the consensus estimate 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 net margin of 9.34% and a return on equity of 14.97%. The firm’s quarterly revenue was up 38.0% on a year-over-year basis. During the same period in the previous year, the company earned $0.27 earnings per share. Microchip Technology has set its Q2 2027 guidance at 0.910-0.950 EPS. As a group, equities research analysts expect that Microchip Technology Incorporated will post 3.16 earnings per share for the current year.

Microchip Technology Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, September 9th. Shareholders of record on Monday, August 24th will be paid a dividend of $0.455 per share. The ex-dividend date is Monday, August 24th. This represents a $1.82 dividend on an annualized basis and a yield of 2.4%. Microchip Technology’s payout ratio is currently 271.64%.

Insider Activity

In related news, Director Matthew W. Chapman sold 3,000 shares of Microchip Technology stock in a transaction on Thursday, May 28th. The stock was sold at an average price of $97.52, for a total value of $292,560.00. Following the completion of the sale, the director owned 17,665 shares of the company’s stock, valued at $1,722,690.80. The trade was a 14.52% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO James Eric Bjornholt sold 837 shares of Microchip Technology stock in a transaction on Monday, August 17th. The stock was 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 directly owned 30,960 shares of the company’s stock, valued at $2,484,849.60. The trade was a 2.63% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 8,837 shares of company stock valued at $847,338 in the last ninety days. 1.79% of the stock is currently owned by company insiders.

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.