Intact Investment Management Inc. Sells 36,700 Shares of Microchip Technology Incorporated $MCHP

Intact Investment Management Inc. lowered its stake in shares of Microchip Technology Incorporated (NASDAQ:MCHP) by 45.5% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 44,000 shares of the semiconductor company’s stock after selling 36,700 shares during the period. Intact Investment Management Inc.’s holdings in Microchip Technology were worth $3,096,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in MCHP. iSAM Funds UK Ltd purchased a new stake in Microchip Technology during the 2nd quarter worth about $385,000. AXA S.A. grew its holdings in Microchip Technology by 21.3% during the 2nd quarter. AXA S.A. now owns 51,552 shares of the semiconductor company’s stock valued at $3,628,000 after buying an additional 9,043 shares in the last quarter. Investors Towarzystwo Funduszy Inwestycyjnych Spolka Akcyjna bought a new stake in shares of Microchip Technology during the second quarter valued at about $816,000. State Street Corp increased its position in shares of Microchip Technology by 8.5% during the second quarter. State Street Corp now owns 31,888,814 shares of the semiconductor company’s stock valued at $2,244,016,000 after buying an additional 2,489,258 shares during the period. Finally, Certuity LLC purchased a new stake in shares of Microchip Technology in the second quarter worth about $253,000. 91.51% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several brokerages recently commented on MCHP. Stifel Nicolaus reduced their price objective on shares of Microchip Technology from $82.00 to $75.00 and set a “buy” rating for the company in a research note on Friday, November 7th. Truist Financial reissued a “hold” rating and issued a $60.00 price target (down from $64.00) on shares of Microchip Technology in a report on Friday, November 7th. Susquehanna reduced their price target on shares of Microchip Technology from $85.00 to $75.00 and set a “positive” rating for the company in a research report on Friday, November 7th. TD Cowen decreased their price target on shares of Microchip Technology from $65.00 to $60.00 and set a “hold” rating on the stock in a report on Friday, November 7th. Finally, Wells Fargo & Company lowered their price objective on Microchip Technology from $60.00 to $58.00 and set an “equal weight” rating on the stock in a research report on Friday, November 7th. One investment analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating, seven have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $74.95.

Microchip Technology Price Performance

Shares of NASDAQ:MCHP opened at $67.90 on Thursday. The company’s fifty day moving average price is $60.35 and its 200-day moving average price is $64.79. The firm has a market capitalization of $36.70 billion, a price-to-earnings ratio of -150.89, a PEG ratio of 2.11 and a beta of 1.47. Microchip Technology Incorporated has a one year low of $34.13 and a one year high of $77.20. The company has a debt-to-equity ratio of 0.80, a current ratio of 2.25 and a quick ratio of 1.20.

Microchip Technology (NASDAQ:MCHP) last posted its quarterly earnings data on Thursday, November 6th. The semiconductor company reported $0.35 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.33 by $0.02. Microchip Technology had a negative net margin of 4.39% and a positive return on equity of 5.21%. The company had revenue of $1.14 billion during the quarter, compared to the consensus estimate of $1.13 billion. During the same period in the previous year, the firm posted $0.46 EPS. The firm’s revenue was down 2.0% compared to the same quarter last year. Microchip Technology has set its Q3 2026 guidance at 0.340-0.400 EPS. On average, equities research analysts anticipate that Microchip Technology Incorporated will post 1.03 earnings per share for the current fiscal year.

Microchip Technology Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, December 9th. Stockholders of record on Monday, November 24th were issued a $0.455 dividend. This represents a $1.82 dividend on an annualized basis and a dividend yield of 2.7%. The ex-dividend date was Monday, November 24th. Microchip Technology’s dividend payout ratio is presently -404.44%.

Insider Activity at Microchip Technology

In other news, CFO James Eric Bjornholt sold 4,292 shares of the stock in a transaction dated Tuesday, November 25th. The stock was sold at an average price of $50.39, for a total transaction of $216,273.88. Following the transaction, the chief financial officer directly owned 30,089 shares in the company, valued at approximately $1,516,184.71. This represents a 12.48% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 1.94% of the company’s stock.

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.