514,140 Shares in Microchip Technology Incorporated $MCHP Purchased by Connor Clark & Lunn Investment Management Ltd.

Connor Clark & Lunn Investment Management Ltd. acquired a new position in Microchip Technology Incorporated (NASDAQ:MCHP) during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund acquired 514,140 shares of the semiconductor company’s stock, valued at approximately $46,890,000. Connor Clark & Lunn Investment Management Ltd. owned 0.09% of Microchip Technology as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in MCHP. Vanguard Group Inc. grew its holdings in Microchip Technology by 2.0% during the fourth quarter. Vanguard Group Inc. now owns 73,506,339 shares of the semiconductor company’s stock valued at $4,683,824,000 after purchasing an additional 1,430,781 shares during the period. State Street Corp raised its stake 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 buying an additional 783,157 shares during the period. Boston Partners raised its stake 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 buying an additional 1,406,885 shares during the period. Geode Capital Management LLC lifted its position in shares of Microchip Technology by 1.4% during the 4th quarter. Geode Capital Management LLC now owns 15,394,985 shares of the semiconductor company’s stock valued at $977,638,000 after buying an additional 213,188 shares during the last quarter. Finally, Invesco Ltd. lifted its position in shares of Microchip Technology by 4.8% during the 4th quarter. Invesco Ltd. now owns 14,992,128 shares of the semiconductor company’s stock valued at $955,298,000 after buying an additional 684,561 shares during the last quarter. 91.51% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on MCHP. Rosenblatt Securities reissued a “buy” rating and issued a $120.00 price objective on shares of Microchip Technology in a report on Friday, August 7th. BMO Capital Markets began coverage on shares of Microchip Technology in a research report on Friday. They set an “outperform” rating and a $95.00 target price for the company. Citigroup lowered their price target on shares of Microchip Technology from $113.00 to $95.00 and set a “buy” rating on the stock in a research report on Friday, August 7th. UBS Group restated 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. Finally, Weiss Ratings upgraded shares of Microchip Technology from a “hold (c-)” rating to a “hold (c)” rating in a research note 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 assigned a Hold rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $98.67.

Insider Buying and Selling at Microchip Technology

In related news, CFO James Eric Bjornholt sold 837 shares of the company’s stock in a transaction that occurred on Monday, August 17th. The shares were sold at an average price of $80.26, for a total value of $67,177.62. Following the transaction, the chief financial officer directly owned 30,960 shares in the company, valued at approximately $2,484,849.60. This represents a 2.63% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Matthew W. Chapman sold 3,000 shares of the firm’s stock in a transaction that occurred on Thursday, May 28th. The shares were sold at an average price of $97.52, for a total transaction of $292,560.00. Following the completion of the sale, the director directly owned 17,665 shares in the company, valued at $1,722,690.80. This represents a 14.52% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 8,837 shares of company stock valued at $847,338 in the last 90 days. 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 firm has a fifty day moving average price of $83.77 and a two-hundred day moving average price of $81.49. The company has a market cap of $40.30 billion, a price-to-earnings ratio of 110.76, a PEG ratio of 0.53 and a beta of 1.76. 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 one year low of $48.52 and a one year high of $105.91.

Microchip Technology (NASDAQ:MCHP) last released its quarterly earnings results on Thursday, August 6th. The semiconductor company reported $0.76 earnings per share for the quarter, topping the consensus estimate 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 net margin of 9.34% and a return on equity of 14.97%. The business’s quarterly revenue was up 38.0% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.27 earnings per share. Microchip Technology has set its Q2 2027 guidance at 0.910-0.950 EPS. Analysts anticipate that Microchip Technology Incorporated will post 3.16 EPS for the current fiscal year.

Microchip Technology Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, September 9th. Shareholders 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 (DPR) is presently 271.64%.

Microchip Technology 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.