Transamerica Financial Advisors LLC Takes Position in Microchip Technology Incorporated $MCHP

Transamerica Financial Advisors LLC acquired a new position in Microchip Technology Incorporated (NASDAQ:MCHP) during the second quarter, HoldingsChannel.com reports. The fund acquired 8,134 shares of the semiconductor company’s stock, valued at approximately $742,000.

Other large investors have also added to or reduced their stakes in the company. AQR Capital Management LLC grew its holdings in shares of Microchip Technology by 51.3% in the 1st quarter. AQR Capital Management LLC now owns 17,201 shares of the semiconductor company’s stock valued at $827,000 after acquiring an additional 5,835 shares in the last quarter. Geneos Wealth Management Inc. raised its holdings in Microchip Technology by 101.8% during the first quarter. Geneos Wealth Management Inc. now owns 1,221 shares of the semiconductor company’s stock worth $59,000 after acquiring an additional 616 shares in the last quarter. Cresset Asset Management LLC raised its holdings in Microchip Technology by 5.4% during the second quarter. Cresset Asset Management LLC now owns 11,433 shares of the semiconductor company’s stock worth $805,000 after acquiring an additional 589 shares in the last quarter. AXA S.A. boosted its position in Microchip Technology by 21.3% during the second quarter. AXA S.A. now owns 51,552 shares of the semiconductor company’s stock valued at $3,628,000 after purchasing an additional 9,043 shares during the last quarter. Finally, Treasurer of the State of North Carolina boosted its position in Microchip Technology by 1.6% during the second quarter. Treasurer of the State of North Carolina now owns 246,530 shares of the semiconductor company’s stock valued at $17,348,000 after purchasing an additional 3,851 shares during the last quarter. Institutional investors and hedge funds own 91.51% of the company’s stock.

Insider Activity at Microchip Technology

In other news, 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. This trade represents a 12.58% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, COO Richard J. Simoncic sold 5,000 shares of the stock in a transaction that occurred on Thursday, June 4th. The stock was sold at an average price of $97.52, for a total value of $487,600.00. Following the transaction, the chief operating officer owned 130,508 shares in the company, valued at approximately $12,727,140.16. This trade represents a 3.69% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 9,949 shares of company stock valued at $864,493 over the last 90 days. Company insiders own 1.79% of the company’s stock.

Microchip Technology Trading Up 0.7%

Shares of Microchip Technology stock opened at $74.05 on Thursday. The company has a debt-to-equity ratio of 0.83, a current ratio of 1.92 and a quick ratio of 1.11. The business has a fifty day simple moving average of $82.92 and a two-hundred day simple moving average of $81.43. Microchip Technology Incorporated has a 1 year low of $48.52 and a 1 year high of $105.91. The company has a market capitalization of $40.21 billion, a price-to-earnings ratio of 110.52, a P/E/G ratio of 0.51 and a beta of 1.76.

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

Microchip Technology Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, September 9th. Shareholders of record on Monday, August 24th will be issued a $0.455 dividend. 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 dividend payout ratio is currently 271.64%.

Wall Street Analyst Weigh In

Several research analysts have weighed in on the company. Truist Financial lowered their price target on Microchip Technology from $105.00 to $90.00 and set a “hold” rating on the stock in a research report on Friday, August 7th. Citigroup decreased their target price on shares of Microchip Technology from $113.00 to $95.00 and set a “buy” rating for the company in a research note on Friday, August 7th. Wells Fargo & Company lowered their target price on shares of Microchip Technology from $95.00 to $88.00 and set an “equal weight” rating on the stock in a report on Monday, July 20th. Needham & Company LLC upped their price target on shares of Microchip Technology from $84.00 to $120.00 and gave the stock a “buy” rating in a research report on Friday, May 8th. Finally, JPMorgan Chase & Co. increased their price target on shares of Microchip Technology from $95.00 to $120.00 and gave the company an “overweight” rating in a research note on Friday, May 8th. Three analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and eight have given a Hold rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus 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.