Shelton Wealth Management LLC acquired a new position in shares of Microchip Technology Incorporated (NASDAQ:MCHP – Free Report) during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 20,292 shares of the semiconductor company’s stock, valued at approximately $1,428,000.
Several other large investors have also recently added to or reduced their stakes in the company. Global X Japan Co. Ltd. lifted its stake in Microchip Technology by 0.4% during the second quarter. Global X Japan Co. Ltd. now owns 45,705 shares of the semiconductor company’s stock worth $3,216,000 after purchasing an additional 174 shares during the last quarter. SeaCrest Wealth Management LLC lifted its stake in Microchip Technology by 19.4% during the second quarter. SeaCrest Wealth Management LLC now owns 5,294 shares of the semiconductor company’s stock worth $373,000 after purchasing an additional 859 shares during the last quarter. Perpetual Ltd lifted its stake in Microchip Technology by 3.8% during the second quarter. Perpetual Ltd now owns 642,552 shares of the semiconductor company’s stock worth $45,216,000 after purchasing an additional 23,782 shares during the last quarter. IFM Investors Pty Ltd lifted its stake in Microchip Technology by 4.4% during the second quarter. IFM Investors Pty Ltd now owns 100,687 shares of the semiconductor company’s stock worth $7,085,000 after purchasing an additional 4,262 shares during the last quarter. Finally, Carderock Capital Management Inc. bought a new position in Microchip Technology during the 2nd quarter worth $39,000. 91.51% of the stock is currently owned by institutional investors.
Wall Street Analysts Forecast Growth
A number of research analysts recently commented on MCHP shares. The Goldman Sachs Group started coverage on Microchip Technology in a research note on Thursday, July 10th. They set a “buy” rating and a $88.00 price objective for the company. Mizuho upped their price objective on Microchip Technology from $78.00 to $85.00 and gave the stock an “outperform” rating in a research note on Tuesday, July 8th. Truist Financial upped their price objective on Microchip Technology from $52.00 to $64.00 and gave the stock a “hold” rating in a research note on Wednesday, June 18th. Wall Street Zen upgraded Microchip Technology from a “sell” rating to a “hold” rating in a research note on Friday, June 27th. Finally, Piper Sandler upped their price objective on Microchip Technology from $65.00 to $80.00 and gave the stock an “overweight” rating in a research note on Friday, August 8th. One research analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating and seven have given a Hold rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $75.75.
Get Our Latest Analysis on MCHP
Insider Transactions at Microchip Technology
In other news, CFO James Eric Bjornholt sold 7,356 shares of the stock in a transaction on Monday, August 25th. The stock was sold at an average price of $68.72, for a total transaction of $505,504.32. Following the completion of the sale, the chief financial officer owned 30,010 shares in the company, valued at approximately $2,062,287.20. This represents a 19.69% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Matthew W. Chapman sold 10,000 shares of the stock in a transaction on Monday, August 25th. The shares were sold at an average price of $68.25, for a total value of $682,500.00. Following the sale, the director owned 30,665 shares of the company’s stock, valued at $2,092,886.25. This trade represents a 24.59% decrease in their position. The disclosure for this sale can be found here. 1.94% of the stock is owned by insiders.
Microchip Technology Price Performance
Shares of MCHP opened at $65.15 on Friday. The firm has a market capitalization of $35.16 billion, a price-to-earnings ratio of -191.62, a price-to-earnings-growth ratio of 1.90 and a beta of 1.56. The company has a debt-to-equity ratio of 0.80, a quick ratio of 1.33 and a current ratio of 2.31. Microchip Technology Incorporated has a one year low of $34.13 and a one year high of $81.64. The stock’s fifty day moving average is $67.21 and its 200-day moving average is $59.89.
Microchip Technology (NASDAQ:MCHP – Get Free Report) last issued its quarterly earnings results on Thursday, August 7th. The semiconductor company reported $0.27 EPS for the quarter, beating analysts’ consensus estimates of $0.24 by $0.03. The company had revenue of $1.08 billion for the quarter, compared to analyst estimates of $1.05 billion. Microchip Technology had a positive return on equity of 6.24% and a negative net margin of 3.50%.The company’s quarterly revenue was down 13.3% compared to the same quarter last year. During the same period last year, the company earned $0.53 earnings per share. Microchip Technology has set its Q2 2026 guidance at 0.340-0.370 EPS. Equities analysts anticipate that Microchip Technology Incorporated will post 1.03 EPS for the current year.
Microchip Technology Announces Dividend
The company also recently announced a quarterly dividend, which was paid on Friday, September 5th. Investors of record on Friday, August 22nd were issued a dividend of $0.455 per share. This represents a $1.82 dividend on an annualized basis and a yield of 2.8%. The ex-dividend date of this dividend was Friday, August 22nd. Microchip Technology’s payout ratio is presently -535.29%.
Microchip Technology Company Profile
(Free Report)
Microchip Technology Incorporated engages in the development, manufacture, and sale of smart, connected, and secure embedded control solutions in the Americas, Europe, and Asia. The company offers general purpose 8-bit, 16-bit, and 32-bit mixed-signal microcontrollers; 32-bit embedded mixed-signal microprocessors; and specialized microcontrollers for automotive, industrial, computing, communications, lighting, power supplies, motor control, human machine interface, security, wired connectivity, and wireless connectivity applications.
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