11,017 Shares in Microchip Technology Incorporated $MCHP Acquired by OVERSEA CHINESE BANKING Corp Ltd

OVERSEA CHINESE BANKING Corp Ltd acquired a new position in shares of Microchip Technology Incorporated (NASDAQ:MCHP) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 11,017 shares of the semiconductor company’s stock, valued at approximately $1,005,000.

Several other large investors also recently added to or reduced their stakes in the stock. Resonant Capital Advisors LLC increased its stake in shares of Microchip Technology by 0.9% in the 1st quarter. Resonant Capital Advisors LLC now owns 12,542 shares of the semiconductor company’s stock worth $810,000 after acquiring an additional 118 shares during the last quarter. Apella Capital LLC grew its holdings in shares of Microchip Technology by 4.8% in the second quarter. Apella Capital LLC now owns 2,669 shares of the semiconductor company’s stock valued at $225,000 after purchasing an additional 122 shares during the period. Bridgewater Advisors Inc. grew its holdings in shares of Microchip Technology by 4.2% in the second quarter. Bridgewater Advisors Inc. now owns 3,331 shares of the semiconductor company’s stock valued at $304,000 after purchasing an additional 133 shares during the period. MCF Advisors LLC increased its position in Microchip Technology by 25.8% during the fourth quarter. MCF Advisors LLC now owns 659 shares of the semiconductor company’s stock worth $42,000 after purchasing an additional 135 shares during the last quarter. Finally, Gagnon Securities LLC increased its position in Microchip Technology by 0.5% during the fourth quarter. Gagnon Securities LLC now owns 27,162 shares of the semiconductor company’s stock worth $1,731,000 after purchasing an additional 137 shares during the last quarter. 91.51% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Microchip Technology

In other Microchip Technology news, COO Richard J. Simoncic sold 5,000 shares of the stock in a transaction dated Thursday, June 4th. The stock was sold at an average price of $97.52, for a total value of $487,600.00. Following the sale, the chief operating officer owned 130,508 shares of the company’s stock, valued at $12,727,140.16. This trade represents a 3.69% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO James Eric Bjornholt sold 837 shares of the company’s stock in a transaction that occurred on Monday, August 17th. The stock was sold at an average price of $80.26, for a total transaction of $67,177.62. Following the sale, the chief financial officer 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 disclosure for this sale is available in the SEC filing. Over the last quarter, insiders have sold 8,837 shares of company stock valued at $847,338. 1.79% of the stock is currently owned by corporate insiders.

Microchip Technology Stock Performance

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

Microchip Technology (NASDAQ:MCHP) last released its quarterly earnings results on Thursday, August 6th. The semiconductor company reported $0.76 EPS for the quarter, topping the consensus estimate of $0.70 by $0.06. The business 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 company’s quarterly revenue was up 38.0% on a year-over-year basis. During the same period last year, the business posted $0.27 earnings per share. Microchip Technology has set its Q2 2027 guidance at 0.910-0.950 EPS. Equities research analysts forecast that Microchip Technology Incorporated will post 3.16 EPS for the current 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 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 yield of 2.4%. Microchip Technology’s dividend payout ratio is 271.64%.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on the stock. Citigroup decreased their target price on shares of Microchip Technology from $113.00 to $95.00 and set a “buy” rating on the stock in a report on Friday, August 7th. Wall Street Zen raised shares of Microchip Technology from a “hold” rating to a “buy” rating in a research report on Saturday, May 9th. UBS Group reiterated a “buy” rating and issued a $120.00 price objective (down from $130.00) on shares of Microchip Technology in a report on Friday, August 7th. Zacks Research lowered Microchip Technology from a “strong-buy” rating to a “hold” rating in a research report on Monday, August 17th. Finally, Wells Fargo & Company cut their target price on Microchip Technology from $95.00 to $88.00 and set an “equal weight” rating for the company in a research note on Monday, July 20th. Two equities research analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and eight have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $98.67.

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.