Saudi Central Bank Has $3.46 Million Stock Position in Microchip Technology Incorporated $MCHP

Saudi Central Bank increased its holdings in shares of Microchip Technology Incorporated (NASDAQ:MCHP) by 89.9% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 37,879 shares of the semiconductor company’s stock after buying an additional 17,930 shares during the quarter. Saudi Central Bank’s holdings in Microchip Technology were worth $3,455,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of MCHP. State Street Corp raised its stake in Microchip Technology by 2.8% during the fourth quarter. State Street Corp now owns 28,863,048 shares of the semiconductor company’s stock worth $1,839,153,000 after acquiring an additional 783,157 shares in the last quarter. Boston Partners grew its holdings in shares of Microchip Technology by 9.5% during the 3rd quarter. Boston Partners now owns 16,234,332 shares of the semiconductor company’s stock valued at $1,044,024,000 after purchasing an additional 1,406,885 shares during the last quarter. Geode Capital Management LLC grew its holdings in shares of Microchip Technology by 1.4% during the 4th quarter. Geode Capital Management LLC now owns 15,394,985 shares of the semiconductor company’s stock valued at $977,638,000 after purchasing an additional 213,188 shares during the last quarter. Invesco Ltd. increased its position in Microchip Technology by 4.8% during the 4th quarter. Invesco Ltd. now owns 14,992,128 shares of the semiconductor company’s stock worth $955,298,000 after purchasing an additional 684,561 shares in the last quarter. Finally, Barclays PLC increased its position in Microchip Technology by 66.5% during the 4th quarter. Barclays PLC now owns 13,996,883 shares of the semiconductor company’s stock worth $891,881,000 after purchasing an additional 5,590,210 shares in the last quarter. 91.51% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related news, CFO James Bjornholt sold 4,112 shares of the company’s stock in a transaction dated Tuesday, August 25th. The stock was sold at an average price of $75.32, for a total transaction of $309,715.84. Following the sale, the chief financial officer owned 28,573 shares in the company, valued at $2,152,118.36. This represents a 12.58% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 1.79% of the stock is owned by corporate insiders.

Microchip Technology Price Performance

Shares of NASDAQ MCHP opened at $74.17 on Monday. The company’s 50 day moving average price is $79.80 and its 200-day moving average price is $81.22. The company has a debt-to-equity ratio of 0.83, a quick ratio of 1.11 and a current ratio of 1.92. Microchip Technology Incorporated has a 52-week low of $48.52 and a 52-week high of $105.91. The company has a market capitalization of $40.28 billion, a P/E ratio of 110.70, a price-to-earnings-growth ratio of 0.52 and a beta of 1.75.

Microchip Technology (NASDAQ:MCHP) last announced its earnings results on Thursday, August 6th. The semiconductor company reported $0.76 earnings per share for the quarter, topping analysts’ consensus estimates of $0.70 by $0.06. The business had revenue of $1.48 billion during the quarter, compared to the consensus estimate of $1.46 billion. Microchip Technology had a net margin of 9.34% and a return on equity of 14.97%. Microchip Technology’s quarterly revenue was up 38.0% on a year-over-year basis. During the same quarter last year, the firm earned $0.27 earnings per share. Microchip Technology has set its Q2 2027 guidance at 0.910-0.950 EPS. Equities analysts forecast that Microchip Technology Incorporated will post 3.16 earnings per share for the current year.

Microchip Technology Announces Dividend

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

Analyst Upgrades and Downgrades

A number of analysts have weighed in on MCHP shares. Weiss Ratings upgraded shares of Microchip Technology from a “hold (c-)” rating to a “hold (c)” rating in a research report on Tuesday, August 11th. Wells Fargo & Company decreased their price target on shares of Microchip Technology from $95.00 to $88.00 and set an “equal weight” rating for the company in a research report on Monday, July 20th. 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 report on Monday, July 13th. BMO Capital Markets assumed coverage on Microchip Technology in a report on Friday, August 21st. They issued an “outperform” rating and a $95.00 price objective for the company. Finally, Barclays raised their target price on Microchip Technology from $80.00 to $105.00 and gave the stock an “equal weight” rating in a research report on Monday, May 11th. Three research analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and eight have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $98.67.

Microchip Technology 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.