29,043 Shares in Microchip Technology Incorporated $MCHP Purchased by OMERS ADMINISTRATION Corp

OMERS ADMINISTRATION Corp bought a new stake in Microchip Technology Incorporated (NASDAQ:MCHP) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 29,043 shares of the semiconductor company’s stock, valued at approximately $2,649,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Norges Bank purchased a new stake in shares of Microchip Technology during the fourth quarter worth about $664,564,000. Barrow Hanley Mewhinney & Strauss LLC acquired a new position in shares of Microchip Technology in the second quarter valued at approximately $537,423,000. Barclays PLC raised its position in shares of Microchip Technology by 66.5% in the fourth quarter. Barclays PLC now owns 13,996,883 shares of the semiconductor company’s stock valued at $891,881,000 after buying an additional 5,590,210 shares during the last quarter. Rafferty Asset Management LLC lifted its stake in shares of Microchip Technology by 41.0% during the second 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. boosted its position in Microchip Technology by 255.7% during the second quarter. Ameriprise Financial Inc. now owns 2,135,140 shares of the semiconductor company’s stock worth $150,271,000 after acquiring an additional 1,534,829 shares during the last quarter. 91.51% of the stock is currently owned by hedge funds and other institutional investors.

Microchip Technology Trading Down 1.0%

Shares of MCHP opened at $73.50 on Wednesday. The company has a current ratio of 1.92, a quick ratio of 1.11 and a debt-to-equity ratio of 0.83. The firm has a market capitalization of $39.91 billion, a P/E ratio of 109.70, a price-to-earnings-growth ratio of 0.52 and a beta of 1.76. The stock’s fifty day simple moving average is $83.33 and its 200 day simple moving average is $81.46. Microchip Technology Incorporated has a twelve month low of $48.52 and a twelve month high of $105.91.

Microchip Technology (NASDAQ:MCHP) last issued its earnings results on Thursday, August 6th. The semiconductor company reported $0.76 earnings per share for the quarter, beating analysts’ consensus estimates of $0.70 by $0.06. Microchip Technology had a return on equity of 14.97% and a net margin of 9.34%.The firm had revenue of $1.48 billion for the quarter, compared to analysts’ expectations of $1.46 billion. During the same quarter last year, the firm earned $0.27 earnings per share. The firm’s revenue for the quarter was up 38.0% compared to the same quarter last year. Microchip Technology has set its Q2 2027 guidance at 0.910-0.950 EPS. On average, equities research analysts forecast that Microchip Technology Incorporated will post 3.16 earnings per share for the current year.

Microchip Technology Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 9th. Stockholders of record on Monday, August 24th will be issued a dividend of $0.455 per share. The ex-dividend date is Monday, August 24th. This represents a $1.82 dividend on an annualized basis and a dividend yield of 2.5%. Microchip Technology’s payout ratio is presently 271.64%.

Insider Buying and Selling

In other Microchip Technology news, CFO James Eric Bjornholt sold 837 shares of the business’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 transaction of $67,177.62. Following the completion of the sale, the chief financial officer directly owned 30,960 shares in the company, valued at $2,484,849.60. The trade was a 2.63% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Matthew W. Chapman sold 3,000 shares of the stock in a transaction on Thursday, May 28th. The stock was 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 of the company’s stock, valued at $1,722,690.80. The trade was a 14.52% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders sold 8,837 shares of company stock valued at $847,338. 1.79% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on the company. JPMorgan Chase & Co. lifted their price objective on Microchip Technology from $95.00 to $120.00 and gave the company an “overweight” rating in a research report on Friday, May 8th. Needham & Company LLC raised their price target on Microchip Technology from $84.00 to $120.00 and gave the stock a “buy” rating in a research note on Friday, May 8th. UBS Group restated a “buy” rating and issued a $120.00 price target (down from $130.00) on shares of Microchip Technology in a report on Friday, August 7th. Weiss Ratings raised shares of Microchip Technology from a “hold (c-)” rating to a “hold (c)” rating in a research note on Tuesday, August 11th. Finally, Cantor Fitzgerald reiterated an “overweight” rating and set a $125.00 price objective on shares of Microchip Technology in a report on Monday, August 17th. Three equities research analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating and eight have given a Hold rating to the company. According to MarketBeat.com, Microchip Technology has a consensus rating of “Moderate Buy” and an average target price of $98.67.

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.