190,093 Shares in Microchip Technology Incorporated $MCHP Purchased by Caisse de depot et placement du Quebec

Caisse de depot et placement du Quebec bought a new position in Microchip Technology Incorporated (NASDAQ:MCHP) in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm bought 190,093 shares of the semiconductor company’s stock, valued at approximately $17,336,000.

A number of other hedge funds have also added to or reduced their stakes in MCHP. Miller Capital Partners Inc. purchased a new stake in shares of Microchip Technology in the fourth quarter worth about $29,000. EFG International AG bought a new position in shares of Microchip Technology in the fourth quarter valued at approximately $29,000. Continuum Advisory LLC purchased a new position in Microchip Technology during the second quarter valued at approximately $30,000. Johnson Financial Group Inc. bought a new stake in Microchip Technology during the 2nd quarter worth approximately $31,000. Finally, Caitong International Asset Management Co. Ltd increased its holdings in Microchip Technology by 4,663.6% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 524 shares of the semiconductor company’s stock worth $33,000 after acquiring an additional 513 shares during the period. Hedge funds and other institutional investors own 91.51% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have commented on the stock. BMO Capital Markets initiated coverage on shares of Microchip Technology in a report on Friday, August 21st. They issued an “outperform” rating and a $95.00 price target for the company. UBS Group reaffirmed a “buy” rating and issued a $120.00 price target (down from $130.00) on shares of Microchip Technology in a report on Friday, August 7th. Rosenblatt Securities reiterated a “buy” rating and issued a $120.00 price objective on shares of Microchip Technology in a research report on Friday, August 7th. Truist Financial dropped their price objective on Microchip Technology from $105.00 to $90.00 and set a “hold” rating for the company in a research note on Friday, August 7th. Finally, Zacks Research cut Microchip Technology from a “strong-buy” rating to a “hold” rating in a research report on Monday, August 17th. Three research analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and eight have issued a Hold rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $98.67.

Insider Activity

In other news, COO Richard J. Simoncic sold 5,000 shares of the company’s stock in a transaction dated Thursday, June 4th. The stock was sold at an average price of $97.52, for a total value of $487,600.00. Following the completion of the transaction, the chief operating officer directly owned 130,508 shares in the company, valued at approximately $12,727,140.16. This represents a 3.69% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO James Eric Bjornholt sold 4,112 shares of the stock in a transaction dated Tuesday, August 25th. The shares were 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. This trade represents a 12.58% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders have sold 9,949 shares of company stock valued at $864,493. Corporate insiders own 1.79% of the company’s stock.

Microchip Technology Price Performance

Shares of NASDAQ:MCHP opened at $72.93 on Friday. The company’s fifty day moving average price is $81.90 and its 200-day moving average price is $81.37. The firm has a market capitalization of $39.60 billion, a price-to-earnings ratio of 108.85, a PEG ratio of 0.53 and a beta of 1.76. Microchip Technology Incorporated has a one year low of $48.52 and a one year high of $105.91. 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 posted 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. Microchip Technology had a net margin of 9.34% and a return on equity of 14.97%. The firm had revenue of $1.48 billion for the quarter, compared to analysts’ expectations of $1.46 billion. During the same quarter last year, the company posted $0.27 EPS. The business’s quarterly 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. On average, equities research analysts anticipate that Microchip Technology Incorporated will post 3.16 earnings per share for the current fiscal year.

Microchip Technology Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, September 9th. Shareholders of record on Monday, August 24th will be paid a dividend of $0.455 per share. The ex-dividend date of this dividend is Monday, August 24th. This represents a $1.82 annualized dividend and a yield of 2.5%. Microchip Technology’s payout ratio is 271.64%.

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.