8,530 Shares in Microchip Technology Incorporated $MCHP Purchased by EP Wealth Advisors LLC

EP Wealth Advisors LLC purchased a new stake in shares of Microchip Technology Incorporated (NASDAQ:MCHP) in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 8,530 shares of the semiconductor company’s stock, valued at approximately $778,000.

A number of other large investors also recently bought and sold shares of MCHP. EFG International AG acquired a new position in Microchip Technology in the 4th quarter worth about $29,000. Miller Capital Partners Inc. acquired a new stake in Microchip Technology in the fourth quarter valued at approximately $29,000. Continuum Advisory LLC purchased a new stake in shares of Microchip Technology in the second quarter valued at approximately $30,000. Johnson Financial Group Inc. purchased a new stake in shares of Microchip Technology in the second quarter valued at approximately $31,000. Finally, Reflection Asset Management acquired a new position in shares of Microchip Technology during the 4th quarter worth approximately $33,000. 91.51% of the stock is owned by institutional investors and hedge funds.

Microchip Technology Trading Down 2.5%

MCHP opened at $74.21 on Tuesday. 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 company’s 50 day simple moving average is $83.77 and its two-hundred day simple moving average is $81.49. Microchip Technology Incorporated has a 1-year low of $48.52 and a 1-year high of $105.91. The firm has a market capitalization of $40.30 billion, a price-to-earnings ratio of 110.76, a price-to-earnings-growth ratio of 0.53 and a beta of 1.76.

Microchip Technology (NASDAQ:MCHP) last posted its quarterly earnings results on Thursday, August 6th. The semiconductor company reported $0.76 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.70 by $0.06. Microchip Technology had a return on equity of 14.97% and a net margin of 9.34%.The business had revenue of $1.48 billion during the quarter, compared to analyst estimates of $1.46 billion. During the same period in the prior year, the business earned $0.27 earnings per share. The business’s 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. Analysts expect that Microchip Technology Incorporated will post 3.16 EPS for the current fiscal year.

Microchip Technology Dividend Announcement

The business also recently announced 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 is Monday, August 24th. Microchip Technology’s dividend payout ratio is presently 271.64%.

Analyst Upgrades and Downgrades

MCHP has been the topic of a number of recent analyst reports. JPMorgan Chase & Co. increased their target price on Microchip Technology from $95.00 to $120.00 and gave the company an “overweight” rating in a research report on Friday, May 8th. Citigroup reduced their price objective on shares of Microchip Technology from $113.00 to $95.00 and set a “buy” rating for the company in a research report on Friday, August 7th. TD Cowen decreased their price objective 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. Susquehanna lifted their target price on shares of Microchip Technology from $95.00 to $120.00 and gave the company a “positive” rating in a research report on Friday, May 8th. Finally, Needham & Company LLC boosted their target price on shares of Microchip Technology from $84.00 to $120.00 and gave the stock a “buy” rating in a research note on Friday, May 8th. Three investment analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating and eight have given a Hold rating to the company. According to data from MarketBeat.com, Microchip Technology has a consensus rating of “Moderate Buy” and an average target price of $98.67.

Insiders Place Their Bets

In other news, Director Matthew W. Chapman sold 3,000 shares of Microchip Technology stock in a transaction that occurred on Thursday, May 28th. The shares were sold at an average price of $97.52, for a total transaction of $292,560.00. Following the sale, the director owned 17,665 shares of the company’s stock, valued at approximately $1,722,690.80. The trade was a 14.52% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO James Eric Bjornholt sold 837 shares of the company’s stock in a transaction that occurred on Monday, August 17th. The shares were sold at an average price of $80.26, for a total value of $67,177.62. Following the completion of the transaction, the chief financial officer owned 30,960 shares in the company, valued at $2,484,849.60. This represents a 2.63% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 8,837 shares of company stock valued at $847,338 in the last three months. 1.79% of the stock is currently owned by insiders.

About Microchip Technology

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.