22,076 Shares in Microchip Technology Incorporated $MCHP Bought by Daiichi Life Insurance Co. Ltd.

Daiichi Life Insurance Co. Ltd. acquired a new stake in Microchip Technology Incorporated (NASDAQ:MCHP) in the 2nd quarter, Holdings Channel reports. The fund acquired 22,076 shares of the semiconductor company’s stock, valued at approximately $2,013,000.

Several other hedge funds also recently made changes to their positions in the company. Resonant Capital Advisors LLC boosted its position 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 valued at $810,000 after purchasing an additional 118 shares during the period. Apella Capital LLC grew its stake in Microchip Technology by 4.8% during the 2nd quarter. Apella Capital LLC now owns 2,669 shares of the semiconductor company’s stock worth $225,000 after buying an additional 122 shares during the last quarter. Bridgewater Advisors Inc. increased its position in Microchip Technology by 4.2% during the second quarter. Bridgewater Advisors Inc. now owns 3,331 shares of the semiconductor company’s stock worth $304,000 after buying 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 buying an additional 135 shares during the period. Finally, Gagnon Securities LLC lifted its stake in Microchip Technology by 0.5% in the fourth quarter. Gagnon Securities LLC now owns 27,162 shares of the semiconductor company’s stock valued at $1,731,000 after buying an additional 137 shares during the last quarter. Hedge funds and other institutional investors own 91.51% of the company’s stock.

Insider Activity at Microchip Technology

In related news, COO Richard J. Simoncic sold 5,000 shares of the firm’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 completion of the sale, the chief operating officer owned 130,508 shares in the company, valued at $12,727,140.16. This trade represents a 3.69% decrease in their ownership of the stock. The sale 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 Microchip Technology stock in a transaction that occurred on Monday, August 17th. The shares were 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. This represents a 2.63% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 8,837 shares of company stock worth $847,338 over the last 90 days. Company insiders own 1.79% of the company’s stock.

Analyst Upgrades and Downgrades

MCHP has been the topic of a number of research reports. Cantor Fitzgerald restated an “overweight” rating and set a $125.00 target price on shares of Microchip Technology in a research report on Monday, August 17th. Needham & Company LLC raised their price objective on shares of Microchip Technology from $84.00 to $120.00 and gave the stock a “buy” rating in a research report on Friday, May 8th. Citigroup dropped 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 note on Friday, August 7th. Wall Street Zen raised shares of Microchip Technology from a “hold” rating to a “buy” rating in a report on Saturday, May 9th. Finally, Wells Fargo & Company decreased their target price on shares of 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. Three equities research analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and eight have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $98.67.

Microchip Technology Price Performance

Shares of NASDAQ MCHP opened at $76.08 on Monday. The stock has a fifty day moving average price of $84.29 and a 200 day moving average price of $81.51. Microchip Technology Incorporated has a 1-year low of $48.52 and a 1-year high of $105.91. The company has a debt-to-equity ratio of 0.83, a current ratio of 1.92 and a quick ratio of 1.11. The company has a market cap of $41.31 billion, a PE ratio of 113.55, a P/E/G ratio of 0.53 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 (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 analysts’ expectations of $1.46 billion. Microchip Technology had a net margin of 9.34% and a return on equity of 14.97%. Microchip Technology’s revenue was up 38.0% compared to the same quarter last year. During the same period in the previous year, the company posted $0.27 EPS. Microchip Technology has set its Q2 2027 guidance at 0.910-0.950 EPS. Sell-side analysts forecast that Microchip Technology Incorporated will post 3.16 EPS for the current year.

Microchip Technology Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, September 9th. Investors of record on Monday, August 24th will be issued a dividend of $0.455 per share. This represents a $1.82 annualized dividend and a yield of 2.4%. The ex-dividend date of this dividend is Monday, August 24th. Microchip Technology’s dividend payout ratio is currently 271.64%.

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.