Caitong International Asset Management Co. Ltd Takes $3.94 Million Position in Microchip Technology Incorporated $MCHP

Caitong International Asset Management Co. Ltd bought a new position in shares of Microchip Technology Incorporated (NASDAQ:MCHP) during the 2nd quarter, HoldingsChannel.com reports. The institutional investor bought 43,173 shares of the semiconductor company’s stock, valued at approximately $3,937,000. Microchip Technology accounts for about 0.5% of Caitong International Asset Management Co. Ltd’s holdings, making the stock its 28th largest position.

A number of other large investors have also modified their holdings of MCHP. Vanguard Group Inc. raised its holdings in Microchip Technology by 2.0% in the 4th quarter. Vanguard Group Inc. now owns 73,506,339 shares of the semiconductor company’s stock valued at $4,683,824,000 after acquiring an additional 1,430,781 shares during the last quarter. State Street Corp lifted its stake in Microchip Technology by 2.8% in the 4th quarter. State Street Corp now owns 28,863,048 shares of the semiconductor company’s stock worth $1,839,153,000 after purchasing an additional 783,157 shares in the last quarter. Boston Partners boosted its holdings in shares of Microchip Technology by 9.5% during the 3rd quarter. Boston Partners now owns 16,234,332 shares of the semiconductor company’s stock worth $1,044,024,000 after purchasing an additional 1,406,885 shares during the last quarter. Geode Capital Management LLC boosted its holdings 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 purchasing an additional 213,188 shares during the last quarter. Finally, Invesco Ltd. grew its position in shares of Microchip Technology by 4.8% in the fourth quarter. Invesco Ltd. now owns 14,992,128 shares of the semiconductor company’s stock valued at $955,298,000 after purchasing an additional 684,561 shares in the last quarter. Hedge funds and other institutional investors own 91.51% of the company’s stock.

Microchip Technology Stock Up 1.9%

MCHP stock opened at $79.17 on Friday. Microchip Technology Incorporated has a one year low of $48.52 and a one year high of $105.91. The firm has a market cap of $42.99 billion, a PE ratio of 118.17, a PEG ratio of 0.62 and a beta of 1.76. The firm’s 50 day moving average price is $85.72 and its 200-day moving average price is $81.47. The company has a debt-to-equity ratio of 0.83, a quick ratio of 1.11 and a current ratio of 1.92.

Microchip Technology (NASDAQ:MCHP) last issued its quarterly earnings data on Thursday, August 6th. The semiconductor company reported $0.76 earnings per share for the quarter, topping the consensus estimate of $0.70 by $0.06. The company had revenue of $1.48 billion during the quarter, compared to analyst estimates of $1.46 billion. Microchip Technology had a return on equity of 14.97% and a net margin of 9.34%.The firm’s revenue for the quarter was up 38.0% compared to the same quarter last year. During the same period in the prior year, the business posted $0.27 earnings per share. Microchip Technology has set its Q2 2027 guidance at 0.910-0.950 EPS. On average, equities research analysts anticipate that Microchip Technology Incorporated will post 2.81 EPS for the current year.

Microchip Technology Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, September 9th. Stockholders of record on Monday, August 24th will be issued 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 dividend yield of 2.3%. Microchip Technology’s dividend payout ratio is currently 271.64%.

Insider Transactions at Microchip Technology

In other Microchip Technology news, COO Richard J. Simoncic sold 5,000 shares of the company’s stock in a transaction dated Thursday, June 4th. The shares were sold at an average price of $97.52, for a total value of $487,600.00. Following the transaction, the chief operating officer owned 130,508 shares of the company’s stock, valued at $12,727,140.16. This represents a 3.69% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CFO James Eric Bjornholt sold 3,667 shares of the stock in a transaction dated Friday, May 22nd. The stock was sold at an average price of $90.87, for a total transaction of $333,220.29. Following the transaction, the chief financial officer directly owned 28,573 shares of the company’s stock, valued at approximately $2,596,428.51. This trade represents a 11.37% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders sold 16,667 shares of company stock worth $1,580,580. 1.79% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several research firms recently commented on MCHP. Wall Street Zen raised Microchip Technology from a “hold” rating to a “buy” rating in a report on Saturday, May 9th. Wells Fargo & Company lowered their price objective on Microchip Technology from $95.00 to $88.00 and set an “equal weight” rating on the stock in a research note on Monday, July 20th. Weiss Ratings upgraded Microchip Technology from a “hold (c-)” rating to a “hold (c)” rating in a report on Tuesday. TD Cowen reduced their price target on Microchip Technology from $105.00 to $90.00 and set a “hold” rating on the stock in a report on Monday, July 13th. Finally, Rosenblatt Securities reissued a “buy” rating and set a $120.00 price target on shares of Microchip Technology in a research report on Friday, August 7th. Three equities research analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and seven have issued a Hold rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $98.85.

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.