Microchip Technology Incorporated $MCHP Stock: Inspire Investing LLC Grows Holdings

Inspire Investing LLC raised its holdings in Microchip Technology Incorporated (NASDAQ:MCHP) by 27.7% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 127,575 shares of the semiconductor company’s stock after buying an additional 27,705 shares during the period. Inspire Investing LLC’s holdings in Microchip Technology were worth $9,922,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently made changes to their positions in MCHP. State Street Corp increased its position in shares of Microchip Technology by 2.9% during the second quarter. State Street Corp now owns 28,851,673 shares of the semiconductor company’s stock worth $2,631,273,000 after acquiring an additional 821,147 shares in the last quarter. Van ECK Associates Corp lifted its position in Microchip Technology by 18.3% in the 2nd quarter. Van ECK Associates Corp now owns 8,224,808 shares of the semiconductor company’s stock valued at $750,102,000 after acquiring an additional 1,272,838 shares in the last quarter. Barrow Hanley Mewhinney & Strauss LLC bought a new position in Microchip Technology in the 2nd quarter valued at about $537,423,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in Microchip Technology by 23.5% in the 2nd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 5,060,528 shares of the semiconductor company’s stock valued at $461,520,000 after acquiring an additional 962,362 shares in the last quarter. Finally, Legal & General Group Plc acquired a new position in Microchip Technology during the 2nd quarter valued at about $312,597,000. 91.51% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of analysts have commented on the company. UBS Group reissued a “buy” rating and set a $120.00 price objective (down from $130.00) on shares of Microchip Technology in a report on Friday, August 7th. Cantor Fitzgerald restated an “overweight” rating on shares of Microchip Technology in a report on Wednesday, September 9th. BMO Capital Markets assumed coverage on Microchip Technology in a research report on Friday, August 21st. They set an “outperform” rating and a $95.00 target price on the stock. B. Riley Financial decreased their price target on Microchip Technology from $108.00 to $98.00 and set a “buy” rating for the company in a report on Thursday. Finally, Wells Fargo & Company lowered their price target on Microchip Technology from $88.00 to $80.00 and set an “equal weight” rating for the company in a research report on Tuesday. Three investment analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and eight have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, Microchip Technology has a consensus rating of “Moderate Buy” and a consensus target price of $97.71.

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 that occurred on Tuesday, August 25th. The stock was sold at an average price of $75.32, for a total value of $309,715.84. Following the transaction, the chief financial officer owned 28,573 shares in the company, valued at $2,152,118.36. The trade was a 12.58% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 1.79% of the stock is owned by insiders.

Microchip Technology Stock Down 0.6%

MCHP opened at $74.05 on Friday. Microchip Technology Incorporated has a fifty-two week low of $48.52 and a fifty-two week high of $105.91. The firm has a market capitalization of $40.21 billion, a P/E ratio of 110.52, a PEG ratio of 0.51 and a beta of 1.77. The company’s 50-day moving average is $75.09 and its 200 day moving average is $82.82. The company has a debt-to-equity ratio of 0.83, a current ratio of 1.92 and a quick ratio of 1.11.

Microchip Technology (NASDAQ:MCHP) last issued its quarterly earnings data on Thursday, August 6th. The semiconductor company reported $0.76 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.70 by $0.06. Microchip Technology had a net margin of 9.34% and a return on equity of 14.97%. The business had revenue of $1.48 billion during the quarter, compared to the consensus estimate of $1.46 billion. During the same period in the prior year, the firm posted $0.27 EPS. The firm’s quarterly revenue was up 38.0% compared to the same quarter last year. Microchip Technology has set its Q2 2027 guidance at 0.910-0.950 EPS. Research analysts expect that Microchip Technology Incorporated will post 3.20 earnings per share for the current fiscal year.

Microchip Technology Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, September 9th. Stockholders of record on Monday, August 24th were paid a $0.4550 dividend. This represents a $1.82 dividend on an annualized basis and a dividend yield of 2.5%. The ex-dividend date was Monday, August 24th. Microchip Technology’s payout ratio is presently 271.64%.

Microchip Technology Company Profile

Microchip Technology Incorporated (NASDAQ:MCHP) develops and manufactures semiconductor products used in embedded control and connected electronic systems. Its portfolio includes microcontrollers, microprocessors, analog and power-management devices, memory products, timing and connectivity components, security solutions, and field-programmable gate arrays. The company also provides development tools, software, evaluation kits, and technical support to help customers design and produce electronic equipment.

Microchip’s products are used across a range of markets, including automotive, industrial, aerospace and defense, communications, consumer electronics, data centers, and medical applications.