OMERS ADMINISTRATION Corp Takes Position in Microchip Technology Incorporated $MCHP

OMERS ADMINISTRATION Corp bought a new position in shares of Microchip Technology Incorporated (NASDAQ:MCHP) in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 29,043 shares of the semiconductor company’s stock, valued at approximately $2,649,000.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Norges Bank purchased a new stake in Microchip Technology in the 4th quarter valued at approximately $664,564,000. Barrow Hanley Mewhinney & Strauss LLC purchased a new position in shares of Microchip Technology during the 2nd quarter worth approximately $537,423,000. Barclays PLC raised its stake in shares of 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. Rafferty Asset Management LLC lifted its holdings in shares of Microchip Technology by 41.0% in the 2nd quarter. Rafferty Asset Management LLC now owns 6,203,762 shares of the semiconductor company’s stock valued at $436,559,000 after buying an additional 1,803,945 shares during the period. Finally, Ameriprise Financial Inc. lifted its holdings in shares of Microchip Technology by 255.7% in the 2nd quarter. Ameriprise Financial Inc. now owns 2,135,140 shares of the semiconductor company’s stock valued at $150,271,000 after buying an additional 1,534,829 shares during the period. Hedge funds and other institutional investors own 91.51% of the company’s stock.

Microchip Technology Stock Performance

NASDAQ MCHP opened at $73.50 on Wednesday. Microchip Technology Incorporated has a 1-year low of $48.52 and a 1-year high of $105.91. The company has a market capitalization of $39.91 billion, a P/E ratio of 109.70, a PEG ratio of 0.52 and a beta of 1.76. The business has a 50 day moving average price of $83.33 and a 200 day moving average price of $81.46. 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 (NASDAQ:MCHP) last posted its earnings results on Thursday, August 6th. The semiconductor company reported $0.76 EPS for the quarter, topping analysts’ consensus estimates of $0.70 by $0.06. The company had revenue of $1.48 billion for the quarter, compared to the consensus estimate of $1.46 billion. Microchip Technology had a return on equity of 14.97% and a net margin of 9.34%.Microchip Technology’s quarterly revenue was up 38.0% compared to the same quarter last year. During the same period in the previous year, the business earned $0.27 earnings per share. Microchip Technology has set its Q2 2027 guidance at 0.910-0.950 EPS. Sell-side analysts expect that Microchip Technology Incorporated will post 3.16 EPS for the current fiscal year.

Microchip Technology Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 9th. Investors of record on Monday, August 24th will be given a $0.455 dividend. The ex-dividend date is Monday, August 24th. This represents a $1.82 annualized dividend and a dividend yield of 2.5%. Microchip Technology’s payout ratio is currently 271.64%.

Analyst Ratings Changes

A number of brokerages recently weighed in on MCHP. Wall Street Zen raised Microchip Technology from a “hold” rating to a “buy” rating in a report on Saturday, May 9th. JPMorgan Chase & Co. raised their target price on Microchip Technology from $95.00 to $120.00 and gave the company an “overweight” rating in a report on Friday, May 8th. Cantor Fitzgerald restated an “overweight” rating and set a $125.00 target price on shares of Microchip Technology in a research report on Monday, August 17th. Zacks Research cut shares of Microchip Technology from a “strong-buy” rating to a “hold” rating in a research note on Monday, August 17th. Finally, TD Cowen cut their price target on shares of Microchip Technology from $105.00 to $90.00 and set a “hold” rating for the company in a report on Monday, July 13th. Three investment 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 stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $98.67.

Insider Buying and Selling

In other Microchip Technology news, COO Richard J. Simoncic sold 5,000 shares of the company’s stock in a transaction dated Thursday, June 4th. The shares were sold at an average price of $97.52, for a total value of $487,600.00. Following the sale, the chief operating officer owned 130,508 shares of the company’s stock, valued at $12,727,140.16. This represents a 3.69% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO James Eric Bjornholt sold 837 shares of the 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 owned 30,960 shares in the company, valued at $2,484,849.60. This represents a 2.63% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 8,837 shares of company stock worth $847,338 in the last three months. Corporate insiders own 1.79% of the company’s stock.

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.