Ieq Capital LLC Buys New Holdings in Microchip Technology Incorporated $MCHP

Ieq Capital LLC purchased a new position in Microchip Technology Incorporated (NASDAQ:MCHP) during the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 27,613 shares of the semiconductor company’s stock, valued at approximately $2,518,000.

A number of other institutional investors also recently bought and sold shares of the business. Callan Family Office LLC purchased a new position in shares of Microchip Technology during the second quarter worth $9,707,000. Keebeck Wealth Management purchased a new stake in Microchip Technology in the second quarter valued at $265,000. Keating Financial Advisory Services Inc. acquired a new stake in Microchip Technology during the 2nd quarter worth about $97,000. Green Alpha Advisors LLC acquired a new stake in Microchip Technology during the 2nd quarter worth about $739,000. Finally, Patron Partners LLC purchased a new position in shares of Microchip Technology during the 2nd quarter valued at about $598,000. 91.51% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, CFO James Eric Bjornholt sold 837 shares of the business’s stock in a transaction dated Monday, August 17th. The shares were sold at an average price of $80.26, for a total transaction of $67,177.62. Following the completion of the sale, the chief financial officer owned 30,960 shares of the company’s stock, valued at $2,484,849.60. The trade was a 2.63% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Matthew W. Chapman sold 3,000 shares of the business’s stock in a transaction dated Thursday, May 28th. The stock was sold at an average price of $97.52, for a total transaction of $292,560.00. Following the sale, the director directly owned 17,665 shares of the company’s stock, valued at $1,722,690.80. This 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 sold 8,837 shares of company stock worth $847,338. Company insiders own 1.79% of the company’s stock.

Microchip Technology Stock Performance

Shares of MCHP stock opened at $74.21 on Tuesday. The company has a market capitalization of $40.30 billion, a P/E ratio of 110.76, a P/E/G ratio of 0.53 and a beta of 1.76. The business’s 50 day moving average is $83.77 and its two-hundred day moving average is $81.49. 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 Incorporated has a 12-month low of $48.52 and a 12-month high of $105.91.

Microchip Technology (NASDAQ:MCHP) last posted its quarterly earnings data on Thursday, August 6th. The semiconductor company reported $0.76 EPS for the quarter, beating analysts’ consensus estimates of $0.70 by $0.06. The business 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% compared to the same quarter last year. During the same period in the previous year, the business earned $0.27 earnings per share. Microchip Technology has set its Q2 2027 guidance at 0.910-0.950 EPS. Analysts expect that Microchip Technology Incorporated will post 3.16 EPS for the current fiscal year.

Microchip Technology Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, September 9th. Investors of record on Monday, August 24th will be issued a $0.455 dividend. This represents a $1.82 annualized dividend and a yield of 2.5%. The ex-dividend date of this dividend is Monday, August 24th. Microchip Technology’s payout ratio is presently 271.64%.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the company. Citigroup decreased their price objective on Microchip Technology from $113.00 to $95.00 and set a “buy” rating for the company in a report on Friday, August 7th. Susquehanna lifted their price target on Microchip Technology from $95.00 to $120.00 and gave the company a “positive” rating in a research report on Friday, May 8th. Cantor Fitzgerald reissued an “overweight” rating and issued a $125.00 price target on shares of Microchip Technology in a report on Monday, August 17th. JPMorgan Chase & Co. upped their price objective on Microchip Technology from $95.00 to $120.00 and gave the stock an “overweight” rating in a research report on Friday, May 8th. Finally, Truist Financial dropped their price objective on shares of Microchip Technology from $105.00 to $90.00 and set a “hold” rating on the stock in a research note on Friday, August 7th. Three investment 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. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $98.67.

Microchip Technology 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.