1,212,596 Shares in Microchip Technology Incorporated $MCHP Purchased by Mirae Asset Global Investments Co. Ltd.

Mirae Asset Global Investments Co. Ltd. purchased a new stake in Microchip Technology Incorporated (NASDAQ:MCHP) in the 3rd quarter, Holdings Channel reports. The fund purchased 1,212,596 shares of the semiconductor company’s stock, valued at approximately $94,304,000.

A number of other institutional investors have also recently modified their holdings of MCHP. Barrow Hanley Mewhinney & Strauss LLC acquired a new position in shares of Microchip Technology during the 2nd quarter worth $537,423,000. Legal & General Group Plc purchased a new position in shares of Microchip Technology in the 2nd quarter valued at about $312,597,000. Van ECK Associates Corp lifted its stake in shares of Microchip Technology by 18.3% in the second quarter. Van ECK Associates Corp now owns 8,224,808 shares of the semiconductor company’s stock valued at $750,102,000 after purchasing an additional 1,272,838 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in shares of Microchip Technology by 23.5% in the second 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 purchasing an additional 962,362 shares during the period. Finally, Healthcare of Ontario Pension Plan Trust Fund lifted its stake in shares of Microchip Technology by 52.8% in the first quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 2,601,121 shares of the semiconductor company’s stock valued at $168,058,000 after purchasing an additional 898,503 shares during the period. 91.51% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on the company. B. Riley Financial lowered their price target on Microchip Technology from $108.00 to $98.00 and set a “buy” rating on the stock in a report on Thursday, October 22nd. Wells Fargo & Company decreased their price objective on shares of Microchip Technology from $88.00 to $80.00 and set an “equal weight” rating on the stock in a research report on Tuesday, October 20th. BMO Capital Markets assumed coverage on shares of Microchip Technology in a research note on Friday, August 21st. They issued an “outperform” rating and a $95.00 price objective on the stock. Truist Financial dropped their target price on shares of Microchip Technology from $105.00 to $90.00 and set a “hold” rating for the company in a report on Friday, August 7th. Finally, 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. 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 company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $97.71.

Microchip Technology Trading Down 4.7%

Shares of Microchip Technology stock opened at $77.34 on Friday. The business’s fifty day moving average is $75.26 and its two-hundred day moving average is $79.50. The company has a quick ratio of 1.11, a current ratio of 1.92 and a debt-to-equity ratio of 0.83. 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 cap of $42.00 billion, a PE ratio of 115.43, a P/E/G ratio of 0.53 and a beta of 1.77.

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

Microchip Technology Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, September 9th. Shareholders of record on Monday, August 24th were given a dividend of $0.4550 per share. This represents a $1.82 dividend on an annualized basis and a yield of 2.4%. The ex-dividend date of this dividend was Monday, August 24th. Microchip Technology’s payout ratio is 271.64%.

Insider Activity

In related news, CFO James Bjornholt sold 4,112 shares of the stock in a transaction that occurred on Tuesday, August 25th. The shares were sold at an average price of $75.32, for a total transaction 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. This represents a 12.58% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 1.79% of the company’s stock.

Microchip Technology 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.