Mitsubishi UFJ Asset Management Co. Ltd. Has $142.42 Million Stock Position in Microchip Technology Incorporated $MCHP

Mitsubishi UFJ Asset Management Co. Ltd. raised its holdings in shares of Microchip Technology Incorporated (NASDAQ:MCHP) by 7.3% in the 2nd quarter, Holdings Channel.com reports. The fund owned 1,561,592 shares of the semiconductor company’s stock after buying an additional 105,702 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd.’s holdings in Microchip Technology were worth $142,417,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Norges Bank acquired a new position in Microchip Technology during the fourth quarter worth $664,564,000. Barclays PLC increased its stake in Microchip Technology by 66.5% in the 4th 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 stake in Microchip Technology by 41.0% in the 2nd quarter. Rafferty Asset Management LLC now owns 6,203,762 shares of the semiconductor company’s stock valued at $436,559,000 after buying an additional 1,803,945 shares during the last quarter. Ameriprise Financial Inc. increased its position in shares of Microchip Technology by 255.7% in the second quarter. Ameriprise Financial Inc. now owns 2,135,140 shares of the semiconductor company’s stock valued at $150,271,000 after acquiring an additional 1,534,829 shares during the last quarter. Finally, Worldquant Millennium Advisors LLC bought a new stake in Microchip Technology during the second quarter worth about $101,359,000. 91.51% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Microchip Technology

In other news, Director Matthew W. Chapman sold 3,000 shares of the firm’s stock in a transaction dated 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 in the company, valued at approximately $1,722,690.80. This trade represents a 14.52% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, COO Richard J. Simoncic sold 5,000 shares of Microchip Technology stock in a transaction dated Thursday, June 4th. The stock was sold at an average price of $97.52, for a total transaction of $487,600.00. Following the sale, the chief operating officer directly owned 130,508 shares of the company’s stock, valued at $12,727,140.16. The trade was a 3.69% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 16,667 shares of company stock worth $1,580,580 over the last ninety days. Insiders own 1.79% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the company. TD Cowen decreased their price target on Microchip Technology from $105.00 to $90.00 and set a “hold” rating for the company in a research note on Monday, July 13th. Susquehanna upped their price objective on Microchip Technology from $95.00 to $120.00 and gave the stock a “positive” rating in a research note on Friday, May 8th. Barclays boosted their target price on shares of Microchip Technology from $80.00 to $105.00 and gave the stock an “equal weight” rating in a report on Monday, May 11th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $125.00 price target on shares of Microchip Technology in a research report on Monday. Finally, UBS Group reiterated a “buy” rating and issued a $120.00 price target (down from $130.00) on shares of Microchip Technology in a research note on Friday, August 7th. Three analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and seven have given a Hold rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $98.85.

Microchip Technology Stock Performance

MCHP opened at $78.19 on Wednesday. Microchip Technology Incorporated has a 12-month low of $48.52 and a 12-month high of $105.91. The stock has a market cap of $42.46 billion, a price-to-earnings ratio of 116.70, a PEG ratio of 0.62 and a beta of 1.76. The business has a 50 day moving average of $85.23 and a 200-day moving average of $81.54. 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 posted its earnings results on Thursday, August 6th. The semiconductor company reported $0.76 earnings per share for the quarter, topping analysts’ consensus estimates of $0.70 by $0.06. Microchip Technology had a return on equity of 14.97% and a net margin of 9.34%.The business had revenue of $1.48 billion for the quarter, compared to analyst estimates of $1.46 billion. During the same period in the previous year, the firm earned $0.27 EPS. The firm’s revenue was up 38.0% compared to the same quarter last year. Microchip Technology has set its Q2 2027 guidance at 0.910-0.950 EPS. On average, equities research analysts expect that Microchip Technology Incorporated will post 3.16 earnings per share for the current year.

Microchip Technology Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 9th. Shareholders 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 2.3%. The ex-dividend date is Monday, August 24th. Microchip Technology’s payout ratio is currently 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.