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

Healthcare of Ontario Pension Plan Trust Fund increased its holdings in shares of Microchip Technology Incorporated (NASDAQ:MCHP - Free Report) by 52.8% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 2,601,121 shares of the semiconductor company's stock after purchasing an additional 898,503 shares during the quarter. Healthcare of Ontario Pension Plan Trust Fund owned 0.48% of Microchip Technology worth $168,058,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. AQR Capital Management LLC lifted its position in Microchip Technology by 51.3% in the first quarter. AQR Capital Management LLC now owns 17,201 shares of the semiconductor company's stock valued at $827,000 after buying an additional 5,835 shares during the last quarter. Geneos Wealth Management Inc. boosted its stake in Microchip Technology by 101.8% during the first quarter. Geneos Wealth Management Inc. now owns 1,221 shares of the semiconductor company's stock worth $59,000 after buying an additional 616 shares during the period. Cresset Asset Management LLC increased its position in shares of Microchip Technology by 5.4% during the second quarter. Cresset Asset Management LLC now owns 11,433 shares of the semiconductor company's stock valued at $805,000 after acquiring an additional 589 shares during the last quarter. AXA S.A. increased its position in shares of Microchip Technology by 21.3% during the second quarter. AXA S.A. now owns 51,552 shares of the semiconductor company's stock valued at $3,628,000 after acquiring an additional 9,043 shares during the last quarter. Finally, Treasurer of the State of North Carolina raised its stake in shares of Microchip Technology by 1.6% in the 2nd quarter. Treasurer of the State of North Carolina now owns 246,530 shares of the semiconductor company's stock valued at $17,348,000 after acquiring an additional 3,851 shares during the period. 91.51% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

MCHP has been the topic of several recent analyst reports. Truist Financial upped their price objective on shares of Microchip Technology from $69.00 to $105.00 and gave the stock a "hold" rating in a report on Friday, May 8th. Rosenblatt Securities raised their target price on Microchip Technology from $115.00 to $120.00 and gave the company a "buy" rating in a report on Friday, May 8th. UBS Group reaffirmed a "buy" rating on shares of Microchip Technology in a research report on Tuesday, June 2nd. JPMorgan Chase & Co. upped their target price on shares of Microchip Technology from $95.00 to $120.00 and gave the stock an "overweight" rating in a research note on Friday, May 8th. Finally, Susquehanna increased their price objective on Microchip Technology from $95.00 to $120.00 and gave the company a "positive" rating in a research note on Friday, May 8th. Four investment analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and seven have given a Hold rating to the stock. According to MarketBeat.com, Microchip Technology currently has a consensus rating of "Moderate Buy" and a consensus target price of $99.76.

Microchip Technology Stock Performance

NASDAQ:MCHP opened at $78.86 on Friday. Microchip Technology Incorporated has a 12 month low of $48.52 and a 12 month high of $105.91. The firm has a market capitalization of $42.82 billion, a PE ratio of 375.54, a price-to-earnings-growth ratio of 0.82 and a beta of 1.74. The company has a debt-to-equity ratio of 0.85, a current ratio of 2.09 and a quick ratio of 1.18. The business's fifty day moving average price is $90.64 and its 200 day moving average price is $81.09.

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

Microchip Technology Dividend Announcement

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

Insider Transactions at Microchip Technology

In related news, Director Matthew W. Chapman sold 3,000 shares of the firm's stock in a transaction that occurred 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 transaction, the director owned 17,665 shares in the company, valued at $1,722,690.80. This trade represents a 14.52% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Steve Sanghi sold 76,469 shares of Microchip Technology stock in a transaction that occurred on Friday, May 1st. The stock was sold at an average price of $93.58, for a total value of $7,155,969.02. Following the transaction, the chief executive officer directly owned 9,385,834 shares in the company, valued at approximately $878,326,345.72. This trade represents a 0.81% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 136,721 shares of company stock valued at $12,793,719 in the last 90 days. Company insiders own 1.79% of the company's stock.

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.

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