Cibc World Market Inc. Purchases New Position in Microchip Technology Incorporated $MCHP

Cibc World Market Inc. acquired a new position in shares of Microchip Technology Incorporated (NASDAQ:MCHP) in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 117,670 shares of the semiconductor company’s stock, valued at approximately $10,732,000.

Other large investors also recently modified their holdings of the company. Continuum Advisory LLC purchased a new position in shares of Microchip Technology during the second quarter valued at approximately $30,000. Johnson Financial Group Inc. purchased a new stake in Microchip Technology in the 2nd quarter valued at $31,000. Rakuten Securities Inc. bought a new position in Microchip Technology during the 2nd quarter valued at $34,000. EFG International AG bought a new position in Microchip Technology during the 4th quarter valued at $29,000. Finally, Miller Capital Partners Inc. purchased a new position in Microchip Technology during the 4th quarter worth $29,000. Institutional investors own 91.51% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have issued reports on the stock. Needham & Company LLC upped their price objective on shares of Microchip Technology from $84.00 to $120.00 and gave the stock a “buy” rating in a research report on Friday, May 8th. Wells Fargo & Company lowered their price target on shares of Microchip Technology from $95.00 to $88.00 and set an “equal weight” rating on the stock in a report on Monday, July 20th. BMO Capital Markets assumed coverage on Microchip Technology in a research note on Friday. They issued an “outperform” rating and a $95.00 price objective on the stock. Susquehanna increased their price objective on Microchip Technology from $95.00 to $120.00 and gave the company a “positive” rating in a report on Friday, May 8th. Finally, Zacks Research downgraded Microchip Technology from a “strong-buy” rating to a “hold” rating in a research report on Monday, August 17th. Three analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and eight have assigned a Hold rating to the company’s stock. According to MarketBeat, Microchip Technology currently has an average rating of “Moderate Buy” and an average target price of $98.67.

Insider Buying and Selling

In other Microchip Technology news, CFO James Eric Bjornholt sold 837 shares of Microchip Technology stock in a transaction that occurred on Monday, August 17th. The shares were sold at an average price of $80.26, for a total transaction of $67,177.62. Following the completion of the sale, the chief financial officer directly owned 30,960 shares in the company, valued at $2,484,849.60. The trade was a 2.63% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, COO Richard J. Simoncic sold 5,000 shares of the company’s stock in a transaction on Thursday, June 4th. The stock was sold at an average price of $97.52, for a total transaction of $487,600.00. Following the completion of the transaction, the chief operating officer owned 130,508 shares of the company’s stock, valued at $12,727,140.16. This trade represents a 3.69% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders have sold 8,837 shares of company stock worth $847,338. Corporate insiders own 1.79% of the company’s stock.

Microchip Technology Stock Down 2.5%

Shares of NASDAQ MCHP opened at $74.21 on Tuesday. The business has a 50-day simple moving average of $83.77 and a two-hundred day simple moving average of $81.49. The company has a market cap of $40.30 billion, a P/E ratio of 110.76, a P/E/G ratio of 0.53 and a beta of 1.76. Microchip Technology Incorporated has a 52 week low of $48.52 and a 52 week high of $105.91. The company has a quick ratio of 1.11, a current ratio of 1.92 and a debt-to-equity ratio of 0.83.

Microchip Technology (NASDAQ:MCHP) last posted its earnings results on Thursday, August 6th. The semiconductor company reported $0.76 earnings per share for the quarter, topping analysts’ consensus estimates of $0.70 by $0.06. Microchip Technology had a net margin of 9.34% and a return on equity of 14.97%. The business had revenue of $1.48 billion for the quarter, compared to analyst estimates of $1.46 billion. During the same quarter in the prior year, the firm posted $0.27 EPS. Microchip Technology’s 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. 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. Stockholders of record on Monday, August 24th will be issued a $0.455 dividend. The ex-dividend date of this dividend is Monday, August 24th. This represents a $1.82 annualized dividend and a dividend yield of 2.5%. Microchip Technology’s dividend payout ratio is presently 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.