Canada Pension Plan Investment Board Takes $41.20 Million Position in Microchip Technology Incorporated $MCHP

Canada Pension Plan Investment Board purchased a new stake in Microchip Technology Incorporated (NASDAQ:MCHP) in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund purchased 451,728 shares of the semiconductor company’s stock, valued at approximately $41,198,000.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the stock. State Street Corp lifted its position in shares of Microchip Technology by 2.8% during the fourth quarter. State Street Corp now owns 28,863,048 shares of the semiconductor company’s stock worth $1,839,153,000 after purchasing an additional 783,157 shares in the last quarter. Boston Partners increased its holdings in shares of Microchip Technology by 9.5% in the third quarter. Boston Partners now owns 16,234,332 shares of the semiconductor company’s stock valued at $1,044,024,000 after purchasing an additional 1,406,885 shares in the last quarter. Geode Capital Management LLC raised its position in Microchip Technology by 1.4% in the 4th quarter. Geode Capital Management LLC now owns 15,394,985 shares of the semiconductor company’s stock worth $977,638,000 after purchasing an additional 213,188 shares during the last quarter. Invesco Ltd. raised its position in Microchip Technology by 4.8% in the 4th 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 lifted its holdings in Microchip Technology by 66.5% during the 4th quarter. Barclays PLC now owns 13,996,883 shares of the semiconductor company’s stock worth $891,881,000 after buying an additional 5,590,210 shares in the last quarter. Institutional investors and hedge funds own 91.51% of the company’s stock.

Insider Transactions at Microchip Technology

In related 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 sale, the chief operating officer owned 130,508 shares in the company, valued at approximately $12,727,140.16. This represents a 3.69% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, 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 completion of the transaction, the chief financial officer directly owned 28,573 shares in the company, valued at $2,152,118.36. The trade was a 12.58% decrease in their position. 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. Insiders sold 9,949 shares of company stock valued at $864,493 in the last quarter. 1.79% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

MCHP has been the topic of a number of recent research reports. 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. Wells Fargo & Company dropped their target price on Microchip Technology from $95.00 to $88.00 and set an “equal weight” rating for the company in a research report on Monday, July 20th. UBS Group reaffirmed a “buy” rating and set a $120.00 price target (down from $130.00) on shares of Microchip Technology in a research note on Friday, August 7th. Cantor Fitzgerald reiterated an “overweight” rating and issued a $125.00 price target on shares of Microchip Technology in a report on Monday, August 17th. Finally, Weiss Ratings upgraded Microchip Technology from a “hold (c-)” rating to a “hold (c)” rating in a research report on Tuesday, August 11th. Three equities research analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating and eight have issued a Hold rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $98.67.

Microchip Technology Price Performance

Shares of MCHP stock opened at $75.49 on Friday. Microchip Technology Incorporated has a 52-week low of $48.52 and a 52-week high of $105.91. The stock has a market cap of $40.99 billion, a PE ratio of 112.67, a PEG ratio of 0.52 and a beta of 1.76. The company has a debt-to-equity ratio of 0.83, a quick ratio of 1.11 and a current ratio of 1.92. The firm’s 50 day moving average price is $82.44 and its two-hundred day moving average price is $81.43.

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

Microchip Technology Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 9th. Investors 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 dividend on an annualized basis and a dividend yield of 2.4%. Microchip Technology’s payout ratio is 271.64%.

Microchip Technology Company Profile

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.