584,821 Shares in Microchip Technology Incorporated $MCHP Purchased by Corient Private Wealth LP

Corient Private Wealth LP bought a new stake in Microchip Technology Incorporated (NASDAQ:MCHP) during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 584,821 shares of the semiconductor company’s stock, valued at approximately $53,335,000.

Several other institutional investors have also recently bought and sold shares of the company. Continuum Advisory LLC bought a new position in shares of Microchip Technology during the 2nd quarter worth approximately $30,000. Johnson Financial Group Inc. bought a new stake in shares of Microchip Technology in the second quarter worth $31,000. Rakuten Securities Inc. bought a new stake in shares of Microchip Technology in the second quarter worth $34,000. EFG International AG acquired a new position in Microchip Technology during the fourth quarter worth $29,000. Finally, Miller Capital Partners Inc. bought a new position in Microchip Technology in the fourth quarter valued at $29,000. Institutional investors own 91.51% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have commented on MCHP. TD Cowen cut their price target on shares of Microchip Technology from $105.00 to $90.00 and set a “hold” rating on the stock in a research report on Monday, July 13th. Wall Street Zen upgraded Microchip Technology from a “hold” rating to a “buy” rating in a report on Saturday, May 9th. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $125.00 target price on shares of Microchip Technology in a research report on Monday, August 17th. Truist Financial dropped their target price on Microchip Technology from $105.00 to $90.00 and set a “hold” rating on the stock in a report on Friday, August 7th. Finally, Weiss Ratings raised Microchip Technology from a “hold (c-)” rating to a “hold (c)” rating in a research report on Tuesday, August 11th. Three equities 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 company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $98.67.

Insider Transactions at Microchip Technology

In other Microchip Technology news, COO Richard J. Simoncic sold 5,000 shares of Microchip Technology 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. The trade was a 3.69% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO James Eric Bjornholt sold 4,112 shares of the stock in a transaction that occurred on Tuesday, August 25th. The stock was sold at an average price of $75.32, for a total transaction of $309,715.84. Following the transaction, the chief financial officer owned 28,573 shares in the company, valued at approximately $2,152,118.36. The trade was a 12.58% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders have sold 9,949 shares of company stock worth $864,493. 1.79% of the stock is owned by insiders.

Microchip Technology Price Performance

Microchip Technology stock opened at $75.49 on Friday. Microchip Technology Incorporated has a 12 month low of $48.52 and a 12 month high of $105.91. The stock’s 50 day moving average is $82.44 and its 200-day moving average is $81.43. The company has a current ratio of 1.92, a quick ratio of 1.11 and a debt-to-equity ratio of 0.83. The company has a market capitalization of $40.99 billion, a price-to-earnings ratio of 112.67, a PEG ratio of 0.52 and a beta of 1.76.

Microchip Technology (NASDAQ:MCHP) last released 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. The business had revenue of $1.48 billion during the quarter, compared to analysts’ expectations of $1.46 billion. Microchip Technology had a return on equity of 14.97% and a net margin of 9.34%.The firm’s revenue for the quarter was up 38.0% compared to the same quarter last year. During the same period last year, the firm posted $0.27 EPS. Microchip Technology has set its Q2 2027 guidance at 0.910-0.950 EPS. Equities research analysts expect that Microchip Technology Incorporated will post 3.16 EPS for the current year.

Microchip Technology Announces Dividend

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

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.