Cibc World Market Inc. Sells 40,497 Shares of Microchip Technology Incorporated $MCHP

Cibc World Market Inc. decreased its holdings in shares of Microchip Technology Incorporated (NASDAQ:MCHP) by 28.7% in the fourth quarter, HoldingsChannel reports. The fund owned 100,405 shares of the semiconductor company’s stock after selling 40,497 shares during the quarter. Cibc World Market Inc.’s holdings in Microchip Technology were worth $6,398,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors also recently modified their holdings of the company. GoalVest Advisory LLC lifted its stake in shares of Microchip Technology by 174.0% during the 4th quarter. GoalVest Advisory LLC now owns 548 shares of the semiconductor company’s stock valued at $35,000 after buying an additional 348 shares in the last quarter. Board of the Pension Protection Fund purchased a new position in shares of Microchip Technology during the 4th quarter valued at $38,000. Kohmann Bosshard Financial Services LLC purchased a new position in shares of Microchip Technology during the 4th quarter valued at $38,000. State of Wyoming lifted its stake in shares of Microchip Technology by 78.1% during the 2nd quarter. State of Wyoming now owns 618 shares of the semiconductor company’s stock valued at $43,000 after buying an additional 271 shares in the last quarter. Finally, TOWER TRUST & INVESTMENT Co lifted its stake in shares of Microchip Technology by 1,555.0% during the 4th quarter. TOWER TRUST & INVESTMENT Co now owns 662 shares of the semiconductor company’s stock valued at $42,000 after buying an additional 622 shares in the last quarter. Hedge funds and other institutional investors own 91.51% of the company’s stock.

Microchip Technology Price Performance

Shares of MCHP stock opened at $88.34 on Monday. The stock has a market cap of $47.89 billion, a P/E ratio of 420.69, a PEG ratio of 0.93 and a beta of 1.73. 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 1.18, a current ratio of 2.09 and a debt-to-equity ratio of 0.85. The company’s fifty day simple moving average is $85.00 and its two-hundred day simple moving average is $74.33.

Microchip Technology (NASDAQ:MCHP) last announced its quarterly earnings results on Thursday, May 7th. The semiconductor company reported $0.57 EPS for the quarter, topping the consensus estimate of $0.50 by $0.07. The business had revenue of $1.31 billion for the quarter, compared to analysts’ expectations of $1.26 billion. Microchip Technology had a net margin of 4.88% and a return on equity of 10.87%. The business’s quarterly revenue was up 35.1% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.11 EPS. Microchip Technology has set its Q1 2027 guidance at 0.670-0.710 EPS. Analysts predict that Microchip Technology Incorporated will post 2.58 EPS for the current fiscal year.

Microchip Technology Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, June 5th. Stockholders of record on Friday, May 22nd were given a dividend of $0.455 per share. This represents a $1.82 annualized dividend and a dividend yield of 2.1%. The ex-dividend date was Friday, May 22nd. Microchip Technology’s dividend payout ratio is currently 866.67%.

Analyst Ratings Changes

A number of research firms recently weighed in on MCHP. Barclays lifted their target price on shares of Microchip Technology from $80.00 to $105.00 and gave the company an “equal weight” rating in a research note on Monday, May 11th. Zacks Research upgraded shares of Microchip Technology from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, May 12th. Needham & Company LLC lifted their target price on shares of Microchip Technology from $84.00 to $120.00 and gave the company a “buy” rating in a research note on Friday, May 8th. Argus upgraded shares of Microchip Technology to a “strong-buy” rating in a research note on Monday, February 9th. Finally, Wells Fargo & Company lifted their target price on shares of Microchip Technology from $75.00 to $95.00 and gave the company an “equal weight” rating in a research note on Friday, May 8th. Four research analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and seven have given a Hold rating to the stock. Based on data from MarketBeat, Microchip Technology has an average rating of “Moderate Buy” and an average price target of $97.52.

Insider Buying and Selling at Microchip Technology

In other news, COO Richard J. Simoncic sold 5,000 shares of the company’s stock in a transaction dated Friday, May 22nd. The shares were sold at an average price of $93.44, for a total transaction of $467,200.00. Following the sale, the chief operating officer directly owned 135,508 shares in the company, valued at approximately $12,661,867.52. This represents a 3.56% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO James Eric Bjornholt sold 3,667 shares of the company’s stock in a transaction dated Friday, May 22nd. The shares were sold at an average price of $90.87, for a total transaction of $333,220.29. Following the sale, the chief financial officer owned 28,573 shares in the company, valued at $2,596,428.51. This represents a 11.37% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 548,302 shares of company stock valued at $49,186,035 over the last quarter. 1.94% of the stock is owned by corporate insiders.

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.