Cidel Asset Management Inc. Makes New $202,000 Investment in Microchip Technology Incorporated $MCHP

Cidel Asset Management Inc. purchased a new position in shares of Microchip Technology Incorporated (NASDAQ:MCHP) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 2,867 shares of the semiconductor company’s stock, valued at approximately $202,000.

A number of other large investors also recently added to or reduced their stakes in MCHP. GAMMA Investing LLC lifted its stake in Microchip Technology by 75.0% during the first quarter. GAMMA Investing LLC now owns 9,922 shares of the semiconductor company’s stock worth $480,000 after purchasing an additional 4,252 shares in the last quarter. Janney Montgomery Scott LLC raised its stake in shares of Microchip Technology by 7.2% in the first quarter. Janney Montgomery Scott LLC now owns 102,491 shares of the semiconductor company’s stock valued at $4,962,000 after acquiring an additional 6,857 shares in the last quarter. Garde Capital Inc. acquired a new stake in shares of Microchip Technology in the first quarter valued at $30,000. Kentucky Retirement Systems Insurance Trust Fund raised its stake in shares of Microchip Technology by 119.5% in the first quarter. Kentucky Retirement Systems Insurance Trust Fund now owns 15,420 shares of the semiconductor company’s stock valued at $746,000 after acquiring an additional 8,395 shares in the last quarter. Finally, Cambridge Investment Research Advisors Inc. raised its stake in shares of Microchip Technology by 63.0% in the first quarter. Cambridge Investment Research Advisors Inc. now owns 59,086 shares of the semiconductor company’s stock valued at $2,860,000 after acquiring an additional 22,847 shares in the last quarter. 91.51% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on the company. Zacks Research cut Microchip Technology from a “strong-buy” rating to a “hold” rating in a research note on Monday, August 18th. Wells Fargo & Company assumed coverage on Microchip Technology in a research note on Monday, September 15th. They issued an “equal weight” rating and a $60.00 price objective on the stock. Needham & Company LLC increased their price objective on Microchip Technology from $66.00 to $77.00 and gave the company a “buy” rating in a research note on Friday, August 8th. Wall Street Zen upgraded Microchip Technology from a “sell” rating to a “hold” rating in a research note on Friday, June 27th. Finally, Mizuho increased their price objective on Microchip Technology from $78.00 to $85.00 and gave the company an “outperform” rating in a research note on Tuesday, July 8th. One analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating, seven have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, Microchip Technology presently has an average rating of “Moderate Buy” and a consensus target price of $75.75.

Insider Activity

In other Microchip Technology news, CFO James Eric Bjornholt sold 7,356 shares of the firm’s stock in a transaction dated Monday, August 25th. The stock was sold at an average price of $68.72, for a total transaction of $505,504.32. Following the transaction, the chief financial officer owned 30,010 shares of the company’s stock, valued at approximately $2,062,287.20. This trade represents a 19.69% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Matthew W. Chapman sold 10,000 shares of the firm’s stock in a transaction dated Monday, August 25th. The stock was sold at an average price of $68.25, for a total value of $682,500.00. Following the transaction, the director directly owned 30,665 shares in the company, valued at approximately $2,092,886.25. The trade was a 24.59% decrease in their position. The disclosure for this sale can be found here. Company insiders own 1.94% of the company’s stock.

Microchip Technology Stock Up 3.0%

Microchip Technology stock opened at $67.07 on Tuesday. Microchip Technology Incorporated has a 1-year low of $34.13 and a 1-year high of $79.44. The company has a debt-to-equity ratio of 0.80, a current ratio of 2.31 and a quick ratio of 1.33. The stock has a market cap of $36.20 billion, a PE ratio of -197.26, a P/E/G ratio of 1.87 and a beta of 1.55. The stock’s fifty day moving average is $65.31 and its two-hundred day moving average is $61.97.

Microchip Technology (NASDAQ:MCHP) last posted its quarterly earnings results on Thursday, August 7th. The semiconductor company reported $0.27 earnings per share for the quarter, beating analysts’ consensus estimates of $0.24 by $0.03. Microchip Technology had a positive return on equity of 6.24% and a negative net margin of 3.50%.The company had revenue of $1.08 billion for the quarter, compared to analysts’ expectations of $1.05 billion. During the same period last year, the firm earned $0.53 earnings per share. Microchip Technology’s quarterly revenue was down 13.3% on a year-over-year basis. Microchip Technology has set its Q2 2026 guidance at 0.340-0.370 EPS. On average, sell-side analysts expect that Microchip Technology Incorporated will post 1.03 EPS for the current fiscal year.

Microchip Technology Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 5th. Shareholders of record on Friday, August 22nd were issued a dividend of $0.455 per share. The ex-dividend date of this dividend was Friday, August 22nd. This represents a $1.82 annualized dividend and a dividend yield of 2.7%. Microchip Technology’s dividend payout ratio (DPR) is presently -535.29%.

Microchip Technology Profile

Microchip Technology Incorporated engages in the development, manufacture, and sale of smart, connected, and secure embedded control solutions in the Americas, Europe, and Asia. The company offers general purpose 8-bit, 16-bit, and 32-bit mixed-signal microcontrollers; 32-bit embedded mixed-signal microprocessors; and specialized microcontrollers for automotive, industrial, computing, communications, lighting, power supplies, motor control, human machine interface, security, wired connectivity, and wireless connectivity applications.