Qsemble Capital Management LP Buys Shares of 17,956 Microchip Technology Incorporated $MCHP

Qsemble Capital Management LP purchased a new position in shares of Microchip Technology Incorporated (NASDAQ:MCHP) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 17,956 shares of the semiconductor company’s stock, valued at approximately $1,638,000.

Several other hedge funds and other institutional investors have also modified their holdings of MCHP. Norges Bank purchased a new stake in shares of Microchip Technology in the 4th quarter valued at $664,564,000. Barclays PLC boosted its holdings in Microchip Technology by 66.5% during the 4th quarter. Barclays PLC now owns 13,996,883 shares of the semiconductor company’s stock valued at $891,881,000 after acquiring an additional 5,590,210 shares during the period. Rafferty Asset Management LLC grew its position 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 acquiring an additional 1,803,945 shares in the last quarter. Ameriprise Financial Inc. grew its position in Microchip Technology by 255.7% in the 2nd 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 in the last quarter. Finally, Worldquant Millennium Advisors LLC purchased a new stake in Microchip Technology during the second quarter worth about $101,359,000. 91.51% of the stock is currently owned by hedge funds and other institutional investors.

Microchip Technology Trading Up 1.9%

NASDAQ MCHP opened at $79.17 on Friday. Microchip Technology Incorporated has a 52 week low of $48.52 and a 52 week high of $105.91. The firm has a 50 day moving average of $85.72 and a two-hundred day moving average of $81.47. The company has a quick ratio of 1.11, a current ratio of 1.92 and a debt-to-equity ratio of 0.83. The stock has a market capitalization of $42.99 billion, a PE ratio of 118.17, a price-to-earnings-growth ratio of 0.62 and a beta of 1.76.

Microchip Technology (NASDAQ:MCHP) last announced its quarterly earnings data on Thursday, August 6th. The semiconductor company reported $0.76 earnings per share for the quarter, beating analysts’ consensus estimates of $0.70 by $0.06. The business 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 company’s revenue was up 38.0% on a year-over-year basis. During the same period last year, the business earned $0.27 EPS. Microchip Technology has set its Q2 2027 guidance at 0.910-0.950 EPS. As a group, research analysts expect that Microchip Technology Incorporated will post 2.81 EPS for the current fiscal year.

Microchip Technology Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, September 9th. Shareholders of record on Monday, August 24th will be paid a $0.455 dividend. The ex-dividend date is Monday, August 24th. This represents a $1.82 dividend on an annualized basis and a yield of 2.3%. Microchip Technology’s dividend payout ratio (DPR) is currently 271.64%.

Insiders Place Their Bets

In other news, CFO James Eric Bjornholt sold 3,667 shares of the firm’s 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 sale, the chief financial officer 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. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Matthew W. Chapman sold 3,000 shares of the business’s stock in a transaction that occurred on Thursday, May 28th. The stock was sold at an average price of $97.52, for a total value of $292,560.00. Following the sale, the director owned 17,665 shares of the company’s stock, valued at approximately $1,722,690.80. The trade was a 14.52% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 16,667 shares of company stock valued at $1,580,580 in the last ninety days. Insiders own 1.79% of the company’s stock.

Wall Street Analyst Weigh In

MCHP has been the subject of several recent research reports. Wall Street Zen raised shares of Microchip Technology from a “hold” rating to a “buy” rating in a research note on Saturday, May 9th. Rosenblatt Securities reaffirmed a “buy” rating and set a $120.00 target price on shares of Microchip Technology in a research note on Friday, August 7th. JPMorgan Chase & Co. increased their target price on shares of Microchip Technology from $95.00 to $120.00 and gave the stock an “overweight” rating in a report on Friday, May 8th. Wells Fargo & Company decreased their price target on shares of Microchip Technology from $95.00 to $88.00 and set an “equal weight” rating for the company in a research report on Monday, July 20th. Finally, Cantor Fitzgerald restated an “overweight” rating and issued a $125.00 price target on shares of Microchip Technology in a research note on Monday, August 3rd. Three equities research analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating and seven have issued a Hold rating to the stock. According to MarketBeat, the company has an average 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.