Ieq Capital LLC Invests $2.52 Million in Microchip Technology Incorporated $MCHP

Ieq Capital LLC acquired a new stake in shares of Microchip Technology Incorporated (NASDAQ:MCHP) during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm acquired 27,613 shares of the semiconductor company’s stock, valued at approximately $2,518,000.

Other institutional investors also recently bought and sold shares of the company. EFG International AG bought a new stake in Microchip Technology during the 4th quarter valued at $29,000. Miller Capital Partners Inc. bought a new position in shares of Microchip Technology in the 4th quarter worth $29,000. Continuum Advisory LLC bought a new position in shares of Microchip Technology in the 2nd quarter worth $30,000. Johnson Financial Group Inc. purchased a new stake in shares of Microchip Technology during the 2nd quarter worth $31,000. Finally, Reflection Asset Management bought a new stake in Microchip Technology during the fourth quarter valued at about $33,000. 91.51% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Microchip Technology

In other Microchip Technology news, Director Matthew W. Chapman sold 3,000 shares of the company’s stock in a transaction that occurred on Thursday, May 28th. The shares were sold at an average price of $97.52, for a total transaction of $292,560.00. Following the transaction, the director owned 17,665 shares in the company, valued at approximately $1,722,690.80. This represents a 14.52% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, COO Richard J. Simoncic sold 5,000 shares of the firm’s stock in a transaction on Thursday, June 4th. The stock was sold at an average price of $97.52, for a total transaction of $487,600.00. Following the completion of the transaction, the chief operating officer directly owned 130,508 shares of the company’s stock, valued at approximately $12,727,140.16. This represents a 3.69% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders have sold 8,837 shares of company stock worth $847,338. 1.79% of the stock is owned by corporate insiders.

Microchip Technology Trading Down 2.5%

Shares of NASDAQ:MCHP opened at $74.21 on Tuesday. The business’s 50-day moving average is $83.77 and its 200 day moving average is $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 Incorporated has a 1 year low of $48.52 and a 1 year high of $105.91. The firm has a market capitalization of $40.30 billion, a P/E ratio of 110.76, a P/E/G ratio of 0.53 and a beta of 1.76.

Microchip Technology (NASDAQ:MCHP) last issued its quarterly earnings results 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. Microchip Technology had a return on equity of 14.97% and a net margin of 9.34%.The business had revenue of $1.48 billion during the quarter, compared to the consensus estimate of $1.46 billion. During the same quarter last year, the company earned $0.27 earnings per share. The company’s quarterly revenue was up 38.0% on a year-over-year basis. Microchip Technology has set its Q2 2027 guidance at 0.910-0.950 EPS. On average, research analysts predict that Microchip Technology Incorporated will post 3.16 earnings per share for the current fiscal year.

Microchip Technology Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, September 9th. Shareholders of record on Monday, August 24th will be given a dividend of $0.455 per share. This represents a $1.82 annualized dividend and a yield of 2.5%. The ex-dividend date of this dividend is Monday, August 24th. Microchip Technology’s payout ratio is currently 271.64%.

Analyst Ratings Changes

Several equities analysts have issued reports on MCHP shares. BMO Capital Markets assumed coverage on Microchip Technology in a research note on Friday. They issued an “outperform” rating and a $95.00 target price on the stock. TD Cowen decreased 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 report on Monday, July 13th. Needham & Company LLC raised their price target on shares of Microchip Technology from $84.00 to $120.00 and gave the company a “buy” rating in a report on Friday, May 8th. Wall Street Zen raised shares of Microchip Technology from a “hold” rating to a “buy” rating in a research report on Saturday, May 9th. Finally, Wells Fargo & Company reduced their price objective 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 analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating and eight have given a Hold rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $98.67.

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.