Cibc World Market Inc. Boosts Stock Position in Microchip Technology Incorporated $MCHP

Cibc World Market Inc. raised its holdings in Microchip Technology Incorporated (NASDAQ:MCHP) by 223.4% during the third quarter, HoldingsChannel.com reports. The firm owned 140,902 shares of the semiconductor company’s stock after buying an additional 97,333 shares during the period. Cibc World Market Inc.’s holdings in Microchip Technology were worth $9,049,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. ING Groep NV boosted its stake in Microchip Technology by 51.3% during the 3rd quarter. ING Groep NV now owns 377,550 shares of the semiconductor company’s stock valued at $24,246,000 after acquiring an additional 128,053 shares during the last quarter. Krilogy Financial LLC acquired a new stake in shares of Microchip Technology in the 3rd quarter valued at about $434,000. Advisors Asset Management Inc. lifted its position in shares of Microchip Technology by 16.2% during the third quarter. Advisors Asset Management Inc. now owns 153,654 shares of the semiconductor company’s stock worth $9,868,000 after purchasing an additional 21,475 shares during the last quarter. ABC Arbitrage SA acquired a new position in Microchip Technology in the third quarter worth about $487,000. Finally, Stratos Wealth Partners LTD. increased its holdings in Microchip Technology by 8.5% in the third quarter. Stratos Wealth Partners LTD. now owns 7,562 shares of the semiconductor company’s stock valued at $486,000 after buying an additional 590 shares during the last quarter. Institutional investors and hedge funds own 91.51% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have commented on MCHP. Barclays began coverage on Microchip Technology in a report on Thursday. They set an “equal weight” rating and a $80.00 target price on the stock. Wall Street Zen upgraded shares of Microchip Technology from a “hold” rating to a “buy” rating in a research report on Saturday, February 7th. Truist Financial increased their price objective on shares of Microchip Technology from $60.00 to $68.00 and gave the stock a “hold” rating in a report on Friday, February 6th. Rosenblatt Securities boosted their target price on shares of Microchip Technology from $80.00 to $115.00 and gave the company a “buy” rating in a research note on Friday, February 6th. Finally, Argus upgraded shares of Microchip Technology to a “strong-buy” rating in a research report on Monday, February 9th. Four analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and seven have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, Microchip Technology currently has an average rating of “Moderate Buy” and an average target price of $86.00.

Insider Activity at Microchip Technology

In related news, CEO Steve Sanghi sold 98,814 shares of the stock in a transaction that occurred on Wednesday, January 28th. The stock was sold at an average price of $80.55, for a total value of $7,959,467.70. Following the transaction, the chief executive officer owned 9,922,319 shares in the company, valued at approximately $799,242,795.45. This represents a 0.99% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CFO James Eric Bjornholt sold 4,292 shares of the firm’s stock in a transaction that occurred on Tuesday, November 25th. The shares were 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. The trade was a 12.48% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last three months, insiders sold 121,615 shares of company stock valued at $9,641,654. 1.94% of the stock is currently owned by company insiders.

Microchip Technology Price Performance

MCHP stock opened at $78.56 on Friday. The firm has a 50-day moving average of $71.71 and a two-hundred day moving average of $65.84. The firm has a market capitalization of $42.51 billion, a PE ratio of -270.90, a P/E/G ratio of 1.98 and a beta of 1.46. The company has a current ratio of 2.16, a quick ratio of 1.16 and a debt-to-equity ratio of 0.82. Microchip Technology Incorporated has a one year low of $34.13 and a one year high of $83.35.

Microchip Technology (NASDAQ:MCHP) last issued its quarterly earnings results on Thursday, February 5th. The semiconductor company reported $0.44 earnings per share for the quarter, beating analysts’ consensus estimates of $0.43 by $0.01. The business had revenue of $1.19 billion for the quarter, compared to the consensus estimate of $1.19 billion. Microchip Technology had a positive return on equity of 7.16% and a negative net margin of 1.57%.Microchip Technology’s revenue for the quarter was up 15.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.20 earnings per share. Microchip Technology has set its Q4 2026 guidance at 0.480-0.520 EPS. On average, analysts forecast that Microchip Technology Incorporated will post 1.03 earnings per share for the current year.

Microchip Technology Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, March 10th. Stockholders of record on Monday, February 23rd will be issued a dividend of $0.455 per share. This represents a $1.82 annualized dividend and a dividend yield of 2.3%. The ex-dividend date is Monday, February 23rd. Microchip Technology’s payout ratio is currently -627.59%.

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.