CIBC Private Wealth Group LLC Has $94.41 Million Stock Position in Microchip Technology Incorporated $MCHP

CIBC Private Wealth Group LLC raised its position in Microchip Technology Incorporated (NASDAQ:MCHP) by 18.2% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,470,059 shares of the semiconductor company’s stock after purchasing an additional 226,078 shares during the quarter. CIBC Private Wealth Group LLC’s holdings in Microchip Technology were worth $94,407,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of MCHP. Vanguard Group Inc. raised its stake in shares of Microchip Technology by 2.1% during the 3rd quarter. Vanguard Group Inc. now owns 72,075,558 shares of the semiconductor company’s stock worth $4,628,692,000 after purchasing an additional 1,507,554 shares in the last quarter. State Street Corp grew its stake in shares of Microchip Technology by 8.5% in the 2nd quarter. State Street Corp now owns 31,888,814 shares of the semiconductor company’s stock valued at $2,244,016,000 after buying an additional 2,489,258 shares in the last quarter. Invesco Ltd. grew its stake in shares of Microchip Technology by 10.4% in the 2nd quarter. Invesco Ltd. now owns 18,452,546 shares of the semiconductor company’s stock valued at $1,298,506,000 after buying an additional 1,745,515 shares in the last quarter. Boston Partners increased its holdings in Microchip Technology by 9.5% in the third quarter. Boston Partners now owns 16,234,332 shares of the semiconductor company’s stock worth $1,044,024,000 after buying an additional 1,406,885 shares during the last quarter. Finally, Victory Capital Management Inc. increased its holdings in Microchip Technology by 11.3% in the third quarter. Victory Capital Management Inc. now owns 12,006,088 shares of the semiconductor company’s stock worth $806,821,000 after buying an additional 1,215,939 shares during the last quarter. 91.51% of the stock is owned by institutional investors and hedge funds.

Microchip Technology Stock Up 0.2%

Shares of Microchip Technology stock opened at $64.71 on Thursday. The stock has a market capitalization of $35.02 billion, a P/E ratio of -223.14, a PEG ratio of 1.63 and a beta of 1.45. The company has a quick ratio of 1.16, a current ratio of 2.16 and a debt-to-equity ratio of 0.82. The stock has a 50 day moving average price of $73.75 and a two-hundred day moving average price of $66.58. Microchip Technology Incorporated has a 12-month low of $34.13 and a 12-month high of $83.35.

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

Microchip Technology Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, March 10th. Investors of record on Monday, February 23rd were paid a $0.455 dividend. The ex-dividend date was Monday, February 23rd. This represents a $1.82 dividend on an annualized basis and a yield of 2.8%. Microchip Technology’s dividend payout ratio (DPR) is presently -627.59%.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on MCHP shares. Zacks Research cut shares of Microchip Technology from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, February 24th. Wells Fargo & Company increased their price target on shares of Microchip Technology from $68.00 to $70.00 and gave the stock an “equal weight” rating in a research note on Friday, February 6th. Argus upgraded shares of Microchip Technology to a “strong-buy” rating in a report on Monday, February 9th. Jefferies Financial Group reaffirmed a “hold” rating on shares of Microchip Technology in a research note on Wednesday, February 4th. Finally, BNP Paribas Exane upgraded shares of Microchip Technology from a “neutral” rating to an “outperform” rating and set a $90.00 price objective for the company in a report on Thursday, January 22nd. Three equities research analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and eight have issued a Hold rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $86.00.

Insider Buying and Selling

In other Microchip Technology news, CEO Steve Sanghi sold 98,814 shares of the business’s stock in a transaction on Wednesday, January 28th. The shares were sold at an average price of $80.55, for a total transaction of $7,959,467.70. Following the completion of the transaction, the chief executive officer owned 9,922,319 shares of the company’s stock, valued at $799,242,795.45. The trade was a 0.99% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 1.94% of the stock is owned by company insiders.

Microchip Technology Company 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.