Korea Investment CORP Purchases Shares of 361,117 Microchip Technology Incorporated $MCHP

Korea Investment CORP acquired a new position in Microchip Technology Incorporated (NASDAQ:MCHP) during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm acquired 361,117 shares of the semiconductor company’s stock, valued at approximately $32,934,000. Korea Investment CORP owned approximately 0.07% of Microchip Technology as of its most recent filing with the Securities & Exchange Commission.

Several other large investors also recently added to or reduced their stakes in the business. EP Wealth Advisors LLC purchased a new stake in shares of Microchip Technology in the 2nd quarter valued at about $778,000. Rakuten Securities Inc. bought a new stake in shares of Microchip Technology during the 2nd quarter valued at about $34,000. Ieq Capital LLC purchased a new position in shares of Microchip Technology during the second quarter worth about $2,518,000. Callan Family Office LLC purchased a new position in shares of Microchip Technology during the second quarter worth about $9,707,000. Finally, Keebeck Wealth Management purchased a new position in shares of Microchip Technology during the second quarter worth about $265,000. Institutional investors own 91.51% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on MCHP shares. Zacks Research downgraded shares of Microchip Technology from a “strong-buy” rating to a “hold” rating in a research note on Monday, August 17th. TD Cowen cut their price target on shares of Microchip Technology from $105.00 to $90.00 and set a “hold” rating for the company in a research note on Monday, July 13th. UBS Group reissued a “buy” rating and issued a $120.00 price target (down from $130.00) on shares of Microchip Technology in a report on Friday, August 7th. Citigroup lowered their price objective on shares of Microchip Technology from $113.00 to $95.00 and set a “buy” rating on the stock in a research report on Friday, August 7th. Finally, Truist Financial dropped their price objective on shares of Microchip Technology from $105.00 to $90.00 and set a “hold” rating for the company in a report 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 issued a Hold rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $98.67.

Microchip Technology Stock Performance

NASDAQ:MCHP opened at $76.08 on Friday. Microchip Technology Incorporated has a 1-year low of $48.52 and a 1-year high of $105.91. The company has a market capitalization of $41.31 billion, a price-to-earnings ratio of 113.55, a PEG ratio of 0.53 and a beta of 1.76. The business has a 50 day moving average of $84.29 and a 200 day moving average of $81.49. The company has a debt-to-equity ratio of 0.83, a current ratio of 1.92 and a quick ratio of 1.11.

Microchip Technology (NASDAQ:MCHP) last released its earnings results on Thursday, August 6th. The semiconductor company reported $0.76 EPS for the quarter, beating the consensus estimate of $0.70 by $0.06. The company had revenue of $1.48 billion for the quarter, compared to analyst estimates of $1.46 billion. Microchip Technology had a net margin of 9.34% and a return on equity of 14.97%. The firm’s quarterly revenue was up 38.0% compared to the same quarter last year. During the same quarter last 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 predict that Microchip Technology Incorporated will post 3.16 earnings per share for the current fiscal year.

Microchip Technology Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, September 9th. Stockholders of record on Monday, August 24th will be paid a $0.455 dividend. This represents a $1.82 dividend on an annualized basis and a dividend yield of 2.4%. The ex-dividend date of this dividend is Monday, August 24th. Microchip Technology’s payout ratio is 271.64%.

Insider Activity

In other Microchip Technology news, COO Richard J. Simoncic sold 5,000 shares of the stock in a transaction on Thursday, June 4th. The shares were sold at an average price of $97.52, for a total transaction of $487,600.00. Following the completion of the sale, 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 position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO James Eric Bjornholt sold 837 shares of the firm’s stock in a transaction dated Monday, August 17th. The stock was sold at an average price of $80.26, for a total value of $67,177.62. Following the completion of the sale, the chief financial officer directly owned 30,960 shares in the company, valued at $2,484,849.60. The trade was a 2.63% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last quarter, insiders sold 8,837 shares of company stock valued at $847,338. Insiders own 1.79% of the company’s stock.

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.