Healthcare of Ontario Pension Plan Trust Fund Raises Position in Microchip Technology Incorporated $MCHP

Healthcare of Ontario Pension Plan Trust Fund boosted its position in Microchip Technology Incorporated (NASDAQ:MCHP) by 52.8% in the first quarter, Holdings Channel.com reports. The firm owned 2,601,121 shares of the semiconductor company’s stock after acquiring an additional 898,503 shares during the quarter. Healthcare of Ontario Pension Plan Trust Fund’s holdings in Microchip Technology were worth $168,058,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently added to or reduced their stakes in MCHP. EFG International AG acquired a new position in Microchip Technology during the fourth quarter worth $29,000. Miller Capital Partners Inc. acquired a new position in Microchip Technology during the fourth quarter worth about $29,000. Reflection Asset Management acquired a new stake in shares of Microchip Technology during the 4th quarter valued at approximately $33,000. Garton & Associates Financial Advisors LLC purchased a new stake in shares of Microchip Technology during the 4th quarter worth approximately $33,000. Finally, Caitong International Asset Management Co. Ltd grew its holdings in shares of Microchip Technology by 4,663.6% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 524 shares of the semiconductor company’s stock worth $33,000 after acquiring an additional 513 shares during the period. Hedge funds and other institutional investors own 91.51% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on MCHP shares. Barclays raised their price target on Microchip Technology from $80.00 to $105.00 and gave the company an “equal weight” rating in a research report on Monday, May 11th. Citigroup upped their target price on Microchip Technology from $91.00 to $113.00 and gave the company a “buy” rating in a research note on Friday, May 8th. Wells Fargo & Company cut their target price on shares of Microchip Technology from $95.00 to $88.00 and set an “equal weight” rating for the company in a research note on Monday, July 20th. Susquehanna boosted their price objective on shares of Microchip Technology from $95.00 to $120.00 and gave the company a “positive” rating in a research report on Friday, May 8th. Finally, Zacks Research raised Microchip Technology from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, May 12th. Four analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and seven have assigned a Hold rating to the stock. According to data from MarketBeat.com, Microchip Technology presently has a consensus rating of “Moderate Buy” and an average price target of $99.76.

Insider Buying and Selling at Microchip Technology

In other Microchip Technology news, CFO James Eric Bjornholt sold 3,667 shares of the business’s stock in a transaction that occurred on Friday, May 22nd. The shares were sold at an average price of $90.87, for a total transaction of $333,220.29. Following the completion of the sale, the chief financial officer directly owned 28,573 shares in the company, valued at $2,596,428.51. The trade was a 11.37% 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. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Matthew W. Chapman sold 10,000 shares of the stock in a transaction on Friday, May 15th. The stock was sold at an average price of $95.48, for a total transaction of $954,800.00. Following the completion of the sale, the director directly owned 20,665 shares of the company’s stock, valued at $1,973,094.20. The trade was a 32.61% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last three months, insiders sold 136,721 shares of company stock valued at $12,793,719. 1.79% of the stock is currently owned by corporate insiders.

Microchip Technology Price Performance

Microchip Technology stock opened at $78.86 on Friday. Microchip Technology Incorporated has a 1 year low of $48.52 and a 1 year high of $105.91. The company has a debt-to-equity ratio of 0.85, a quick ratio of 1.18 and a current ratio of 2.09. The firm has a 50 day moving average price of $90.64 and a 200 day moving average price of $81.09. The company has a market cap of $42.82 billion, a price-to-earnings ratio of 375.54, a PEG ratio of 0.82 and a beta of 1.74.

Microchip Technology (NASDAQ:MCHP) last posted its quarterly earnings results on Thursday, May 7th. The semiconductor company reported $0.57 earnings per share for the quarter, topping analysts’ consensus estimates of $0.50 by $0.07. The company had revenue of $1.31 billion for the quarter, compared to the consensus estimate of $1.26 billion. Microchip Technology had a net margin of 4.88% and a return on equity of 10.87%. Microchip Technology’s revenue was up 35.1% on a year-over-year basis. During the same quarter last year, the firm posted $0.11 earnings per share. Microchip Technology has set its Q1 2027 guidance at 0.670-0.710 EPS. Sell-side analysts predict that Microchip Technology Incorporated will post 2.7 earnings per share for the current year.

Microchip Technology Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, June 5th. Investors of record on Friday, May 22nd were given a dividend of $0.455 per share. This represents a $1.82 dividend on an annualized basis and a yield of 2.3%. The ex-dividend date of this dividend was Friday, May 22nd. Microchip Technology’s dividend payout ratio is 866.67%.

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.