Jupiter Topco LLC Invests $5.44 Million in Microchip Technology Incorporated $MCHP

Jupiter Topco LLC purchased a new stake in shares of Microchip Technology Incorporated (NASDAQ:MCHP) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 59,692 shares of the semiconductor company’s stock, valued at approximately $5,442,000.

Other institutional investors and hedge funds have also modified their holdings of the company. State Street Corp increased its position in Microchip Technology by 2.8% during the fourth quarter. State Street Corp now owns 28,863,048 shares of the semiconductor company’s stock worth $1,839,153,000 after buying an additional 783,157 shares during the last quarter. Boston Partners lifted its position in shares of Microchip Technology by 9.5% in the third quarter. Boston Partners now owns 16,234,332 shares of the semiconductor company’s stock worth $1,044,024,000 after buying an additional 1,406,885 shares during the last quarter. Geode Capital Management LLC boosted its stake in shares of Microchip Technology by 1.4% during the 4th quarter. Geode Capital Management LLC now owns 15,394,985 shares of the semiconductor company’s stock worth $977,638,000 after acquiring an additional 213,188 shares in the last quarter. Invesco Ltd. increased its holdings in shares of Microchip Technology by 4.8% during the 4th quarter. Invesco Ltd. now owns 14,992,128 shares of the semiconductor company’s stock valued at $955,298,000 after acquiring an additional 684,561 shares during the last quarter. Finally, Barclays PLC increased its holdings in shares of Microchip Technology by 66.5% during 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. Institutional investors and hedge funds own 91.51% of the company’s stock.

Insider Activity at Microchip Technology

In related news, COO Richard J. Simoncic sold 5,000 shares of the company’s stock in a transaction on Thursday, June 4th. The stock was sold at an average price of $97.52, for a total value of $487,600.00. Following the completion of the transaction, the chief operating officer directly owned 130,508 shares in the company, valued at approximately $12,727,140.16. This represents a 3.69% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO James Eric Bjornholt sold 4,112 shares of the firm’s stock in a transaction on Tuesday, August 25th. The stock was sold at an average price of $75.32, for a total value 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 trade represents a 12.58% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 9,949 shares of company stock worth $864,493 in the last three months. 1.79% of the stock is owned by insiders.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on the company. Susquehanna boosted their target price on Microchip Technology from $95.00 to $120.00 and gave the stock a “positive” rating in a report on Friday, May 8th. Wells Fargo & Company dropped their price target on shares of Microchip Technology from $95.00 to $88.00 and set an “equal weight” rating on the stock in a research report on Monday, July 20th. Zacks Research cut shares of Microchip Technology from a “strong-buy” rating to a “hold” rating in a research note on Monday, August 17th. BMO Capital Markets began coverage on shares of Microchip Technology in a report on Friday, August 21st. They set an “outperform” rating and a $95.00 price objective for the company. Finally, Citigroup lowered their target price on shares of Microchip Technology from $113.00 to $95.00 and set a “buy” rating on the stock in a research note on Friday, August 7th. Three equities research analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and eight have issued a Hold rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $98.67.

Microchip Technology Stock Performance

NASDAQ:MCHP opened at $73.45 on Tuesday. The firm’s 50-day moving average is $81.32 and its 200-day moving average is $81.39. Microchip Technology Incorporated has a 52-week low of $48.52 and a 52-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 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 (NASDAQ:MCHP) last released its earnings results 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. Microchip Technology had a net margin of 9.34% and a return on equity of 14.97%. The business had revenue of $1.48 billion during the quarter, compared to analysts’ expectations of $1.46 billion. During the same quarter last year, the company earned $0.27 earnings per share. The firm’s 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. Equities research analysts anticipate that Microchip Technology Incorporated will post 3.16 earnings per share for the current year.

Microchip Technology Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 9th. Shareholders of record on Monday, August 24th will be given a $0.455 dividend. The ex-dividend date is Monday, August 24th. This represents a $1.82 dividend on an annualized basis and a dividend yield of 2.5%. 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.