Caisse de depot et placement du Quebec Takes Position in Microchip Technology Incorporated $MCHP

Caisse de depot et placement du Quebec purchased a new stake in shares of Microchip Technology Incorporated (NASDAQ:MCHP) during the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 190,093 shares of the semiconductor company’s stock, valued at approximately $17,336,000.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the company. State Street Corp grew its holdings in shares of Microchip Technology by 2.8% in the fourth quarter. State Street Corp now owns 28,863,048 shares of the semiconductor company’s stock valued at $1,839,153,000 after acquiring an additional 783,157 shares in the last quarter. Boston Partners increased its position in shares of Microchip Technology by 9.5% during the third quarter. Boston Partners now owns 16,234,332 shares of the semiconductor company’s stock valued at $1,044,024,000 after acquiring an additional 1,406,885 shares during the last quarter. Geode Capital Management LLC lifted its holdings in Microchip Technology by 1.4% during the fourth quarter. Geode Capital Management LLC now owns 15,394,985 shares of the semiconductor company’s stock worth $977,638,000 after acquiring an additional 213,188 shares during the period. Invesco Ltd. boosted its position in Microchip Technology by 4.8% in the fourth quarter. Invesco Ltd. now owns 14,992,128 shares of the semiconductor company’s stock worth $955,298,000 after purchasing an additional 684,561 shares during the last quarter. Finally, Barclays PLC boosted its position in Microchip Technology by 66.5% in the fourth quarter. Barclays PLC now owns 13,996,883 shares of the semiconductor company’s stock worth $891,881,000 after purchasing an additional 5,590,210 shares during the last quarter. 91.51% of the stock is currently owned by hedge funds and other institutional investors.

Microchip Technology Stock Performance

NASDAQ:MCHP opened at $72.93 on Friday. The company has a market capitalization of $39.60 billion, a P/E ratio of 108.85, a P/E/G ratio of 0.53 and a beta of 1.76. The business has a fifty day simple moving average of $81.90 and a two-hundred day simple moving average of $81.37. 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 Incorporated has a 1 year low of $48.52 and a 1 year high of $105.91.

Microchip Technology (NASDAQ:MCHP) last issued its quarterly earnings results on Thursday, August 6th. The semiconductor company reported $0.76 EPS for the quarter, beating analysts’ consensus estimates of $0.70 by $0.06. The firm had revenue of $1.48 billion for the quarter, compared to analysts’ expectations of $1.46 billion. Microchip Technology had a return on equity of 14.97% and a net margin of 9.34%.The business’s revenue for the quarter was up 38.0% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.27 EPS. Microchip Technology has set its Q2 2027 guidance at 0.910-0.950 EPS. On average, analysts expect that Microchip Technology Incorporated will post 3.16 earnings per share for the current year.

Microchip Technology Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 9th. Shareholders of record on Monday, August 24th will be issued 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 dividend payout ratio is 271.64%.

Insider Activity

In other news, COO Richard J. Simoncic sold 5,000 shares of the business’s stock in a transaction that occurred on Thursday, June 4th. The shares were sold at an average price of $97.52, for a total value of $487,600.00. Following the sale, the chief operating officer owned 130,508 shares of the company’s stock, valued at $12,727,140.16. The trade was a 3.69% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO James Eric Bjornholt sold 4,112 shares of the company’s 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 sale, 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 ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders have sold 9,949 shares of company stock worth $864,493. Insiders own 1.79% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have issued reports on MCHP shares. Citigroup reduced their price objective on Microchip Technology from $113.00 to $95.00 and set a “buy” rating for the company in a research note on Friday, August 7th. Needham & Company LLC boosted their price target on shares of Microchip Technology from $84.00 to $120.00 and gave the stock a “buy” rating in a report on Friday, May 8th. Barclays increased their price target on shares of Microchip Technology from $80.00 to $105.00 and gave the company an “equal weight” rating in a research report on Monday, May 11th. TD Cowen decreased their price objective on shares of Microchip Technology from $105.00 to $90.00 and set a “hold” rating for the company in a report on Monday, July 13th. Finally, Weiss Ratings raised shares of Microchip Technology from a “hold (c-)” rating to a “hold (c)” rating in a research report on Tuesday, August 11th. Three research 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 stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $98.67.

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.