NEOS Investment Management LLC Has $37.17 Million Stock Position in Microchip Technology Incorporated $MCHP

NEOS Investment Management LLC lifted its stake in shares of Microchip Technology Incorporated (NASDAQ:MCHP) by 9.1% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 407,540 shares of the semiconductor company’s stock after purchasing an additional 34,163 shares during the period. NEOS Investment Management LLC’s holdings in Microchip Technology were worth $37,168,000 at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in MCHP. EFG International AG acquired a new stake in Microchip Technology in the fourth quarter valued at $29,000. Miller Capital Partners Inc. bought a new position in shares of Microchip Technology in the 4th quarter valued at about $29,000. Continuum Advisory LLC acquired a new position in shares of Microchip Technology during the 2nd quarter worth about $30,000. Johnson Financial Group Inc. acquired a new position in shares of Microchip Technology during the 2nd quarter worth about $31,000. Finally, Reflection Asset Management bought a new stake in shares of Microchip Technology in the 4th quarter valued at about $33,000. Institutional investors and hedge funds own 91.51% of the company’s stock.

Microchip Technology Price Performance

Microchip Technology stock opened at $73.11 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 $80.07 and its 200-day moving average is $81.25. 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 $39.70 billion, a price-to-earnings ratio of 109.12, a PEG ratio of 0.51 and a beta of 1.75.

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 Dividend Announcement

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

Analysts Set New Price Targets

Several brokerages recently issued reports on MCHP. Cantor Fitzgerald reiterated an “overweight” rating and issued a $125.00 target price on shares of Microchip Technology in a research note on Monday, August 17th. Truist Financial dropped their price objective on Microchip Technology from $105.00 to $90.00 and set a “hold” rating on the stock in a research note on Friday, August 7th. Susquehanna raised their price objective on Microchip Technology from $95.00 to $120.00 and gave the company a “positive” rating in a research report on Friday, May 8th. UBS Group reiterated a “buy” rating and set a $120.00 target price (down from $130.00) on shares of Microchip Technology in a research note on Friday, August 7th. Finally, Needham & Company LLC boosted their target price on Microchip Technology from $84.00 to $120.00 and gave the stock a “buy” rating in a report on Friday, May 8th. Three investment analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and eight have given a Hold rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $98.67.

Insider Buying and Selling at Microchip Technology

In other news, CFO James Bjornholt sold 4,112 shares of the business’s stock in a transaction dated Tuesday, August 25th. The shares were sold at an average price of $75.32, for a total value of $309,715.84. Following the completion of the sale, the chief financial officer owned 28,573 shares of the company’s stock, valued at approximately $2,152,118.36. The trade was a 12.58% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 1.79% of the company’s stock.

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.