Saudi Central Bank Buys 17,930 Shares of Microchip Technology Incorporated $MCHP

Saudi Central Bank boosted its stake in Microchip Technology Incorporated (NASDAQ:MCHP) by 89.9% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 37,879 shares of the semiconductor company’s stock after purchasing an additional 17,930 shares during the quarter. Saudi Central Bank’s holdings in Microchip Technology were worth $3,455,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of MCHP. TOP Private Wealth LLC. bought a new position in shares of Microchip Technology during the 2nd quarter worth about $29,000. EFG International AG bought a new stake in Microchip Technology in the 4th quarter valued at about $29,000. Miller Capital Partners Inc. acquired a new position in Microchip Technology during the 4th quarter worth approximately $29,000. Continuum Advisory LLC acquired a new position in Microchip Technology during the 2nd quarter worth approximately $30,000. Finally, Johnson Financial Group Inc. bought a new position in Microchip Technology in the second quarter worth approximately $31,000. 91.51% of the stock is owned by institutional investors.

Insider Buying and Selling

In other news, CFO James Bjornholt sold 4,112 shares of the company’s stock in a transaction that occurred 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 $2,152,118.36. This represents a 12.58% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 1.79% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have recently commented on the company. Rosenblatt Securities restated a “buy” rating and set a $120.00 price objective on shares of Microchip Technology in a report on Friday, August 7th. Barclays increased their target price on Microchip Technology from $80.00 to $105.00 and gave the stock an “equal weight” rating in a report on Monday, May 11th. Citigroup decreased their price target on shares of Microchip Technology from $113.00 to $95.00 and set a “buy” rating for the company in a research note on Friday, August 7th. Weiss Ratings upgraded shares of Microchip Technology from a “hold (c-)” rating to a “hold (c)” rating in a report on Tuesday, August 11th. 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 research analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating and eight have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $98.67.

Microchip Technology Stock Performance

Shares of Microchip Technology stock opened at $74.17 on Monday. The company has a market capitalization of $40.28 billion, a P/E ratio of 110.70, a price-to-earnings-growth ratio of 0.52 and a beta of 1.75. The stock has a fifty day simple moving average of $79.80 and a 200 day simple moving average of $81.22. Microchip Technology Incorporated has a 12-month low of $48.52 and a 12-month high of $105.91. 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 (NASDAQ:MCHP) last posted its quarterly earnings data on Thursday, August 6th. The semiconductor company reported $0.76 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.70 by $0.06. The firm had revenue of $1.48 billion for the quarter, compared to the consensus estimate of $1.46 billion. Microchip Technology had a net margin of 9.34% and a return on equity of 14.97%. The business’s revenue for the quarter was up 38.0% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.27 EPS. Microchip Technology has set its Q2 2027 guidance at 0.910-0.950 EPS. On average, sell-side analysts anticipate that Microchip Technology Incorporated will post 3.16 earnings per share for the current fiscal year.

Microchip Technology Dividend Announcement

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. This represents a $1.82 dividend on an annualized basis and a yield of 2.5%. The ex-dividend date of this dividend is Monday, August 24th. Microchip Technology’s dividend payout ratio is presently 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.