Microchip Technology Incorporated (NASDAQ:MCHP) Shares Acquired by Vanguard Personalized Indexing Management LLC

Vanguard Personalized Indexing Management LLC increased its stake in shares of Microchip Technology Incorporated (NASDAQ:MCHP) by 15.2% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 60,267 shares of the semiconductor company’s stock after purchasing an additional 7,971 shares during the quarter. Vanguard Personalized Indexing Management LLC’s holdings in Microchip Technology were worth $5,509,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. Meiji Yasuda Asset Management Co Ltd. grew its holdings in Microchip Technology by 27.3% during the 2nd quarter. Meiji Yasuda Asset Management Co Ltd. now owns 86,979 shares of the semiconductor company’s stock worth $7,959,000 after acquiring an additional 18,644 shares in the last quarter. Mercer Global Advisors Inc. ADV lifted its position in shares of Microchip Technology by 1.0% during the 2nd quarter. Mercer Global Advisors Inc. ADV now owns 278,810 shares of the semiconductor company’s stock worth $25,511,000 after purchasing an additional 2,725 shares during the last quarter. E Fund Management Co. Ltd. grew its stake in shares of Microchip Technology by 20.7% during the second quarter. E Fund Management Co. Ltd. now owns 10,843 shares of the semiconductor company’s stock worth $992,000 after purchasing an additional 1,859 shares in the last quarter. Edgestream Partners L.P. increased its holdings in Microchip Technology by 32.7% in the second quarter. Edgestream Partners L.P. now owns 12,886 shares of the semiconductor company’s stock valued at $1,179,000 after buying an additional 3,174 shares during the last quarter. Finally, Lmcg Investments LLC raised its stake in Microchip Technology by 0.8% in the second quarter. Lmcg Investments LLC now owns 126,521 shares of the semiconductor company’s stock valued at $11,577,000 after buying an additional 1,061 shares in the last quarter. Hedge funds and other institutional investors own 91.51% of the company’s stock.

Microchip Technology Trading Down 0.8 %

Shares of MCHP stock opened at $76.36 on Thursday. The business’s 50 day moving average is $81.73 and its two-hundred day moving average is $87.86. Microchip Technology Incorporated has a twelve month low of $68.75 and a twelve month high of $100.57. The company has a current ratio of 1.94, a quick ratio of 1.08 and a debt-to-equity ratio of 0.96. The company has a market capitalization of $40.97 billion, a P/E ratio of 22.01 and a beta of 1.53.

Microchip Technology (NASDAQ:MCHP) last released its earnings results on Thursday, August 1st. The semiconductor company reported $0.53 EPS for the quarter, topping the consensus estimate of $0.52 by $0.01. The company had revenue of $1.24 billion during the quarter, compared to analysts’ expectations of $1.24 billion. Microchip Technology had a net margin of 20.80% and a return on equity of 28.33%. The business’s revenue was down 45.8% on a year-over-year basis. During the same quarter last year, the business earned $1.56 EPS. Equities analysts forecast that Microchip Technology Incorporated will post 1.74 EPS for the current year.

Microchip Technology Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, September 5th. Shareholders of record on Thursday, August 22nd were issued a $0.454 dividend. This represents a $1.82 dividend on an annualized basis and a yield of 2.38%. The ex-dividend date of this dividend was Thursday, August 22nd. This is a positive change from Microchip Technology’s previous quarterly dividend of $0.45. Microchip Technology’s payout ratio is currently 52.16%.

Insiders Place Their Bets

In other news, CFO James Eric Bjornholt sold 2,154 shares of the firm’s stock in a transaction that occurred on Friday, August 23rd. The stock was sold at an average price of $81.50, for a total value of $175,551.00. Following the completion of the sale, the chief financial officer now directly owns 33,257 shares of the company’s stock, valued at approximately $2,710,445.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 2.07% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

MCHP has been the subject of several analyst reports. B. Riley lowered their price objective on Microchip Technology from $110.00 to $103.00 and set a “buy” rating for the company in a research report on Friday, August 2nd. Piper Sandler upgraded shares of Microchip Technology from a “neutral” rating to an “overweight” rating and increased their price target for the company from $90.00 to $100.00 in a research note on Friday, August 16th. Needham & Company LLC cut their price objective on shares of Microchip Technology from $100.00 to $96.00 and set a “buy” rating on the stock in a report on Monday, August 5th. Rosenblatt Securities restated a “buy” rating and issued a $100.00 target price on shares of Microchip Technology in a report on Wednesday, July 31st. Finally, Morgan Stanley lowered shares of Microchip Technology from an “overweight” rating to an “equal weight” rating and cut their price target for the stock from $102.00 to $100.00 in a research note on Thursday, July 11th. Five analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $99.95.

About Microchip Technology

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.