Financiere des Professionnels Fonds d investissement inc. Grows Stock Holdings in Microchip Technology Incorporated $MCHP

Key Points

• Financiere des Professionnels Fonds d investissement inc. significantly increased its stake in Microchip Technology, acquiring an additional 26,115 shares, bringing their total holdings to 28,315 shares valued at approximately $1.99 million.
• Analysts have raised their price targets for Microchip Technology, with Piper Sandler setting a new target at $80 and Evercore ISI at $83, reflecting a positive outlook for the company.
• Microchip Technology reported $1.08 billion in revenue for the latest quarter, exceeding estimates, but faced a 13.3% decline in revenue compared to the previous year.

Financiere des Professionnels Fonds d investissement inc. grew its stake in shares of Microchip Technology Incorporated (NASDAQ:MCHP - Free Report) by 1,187.0% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 28,315 shares of the semiconductor company's stock after acquiring an additional 26,115 shares during the period. Financiere des Professionnels Fonds d investissement inc.'s holdings in Microchip Technology were worth $1,993,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. First Citizens Bank & Trust Co. lifted its position in Microchip Technology by 468.2% during the first quarter. First Citizens Bank & Trust Co. now owns 73,737 shares of the semiconductor company's stock worth $3,570,000 after acquiring an additional 60,760 shares during the last quarter. Everhart Financial Group Inc. acquired a new stake in shares of Microchip Technology in the first quarter valued at approximately $221,000. Czech National Bank raised its position in shares of Microchip Technology by 6.1% in the first quarter. Czech National Bank now owns 123,528 shares of the semiconductor company's stock valued at $5,980,000 after buying an additional 7,093 shares in the last quarter. Sowell Financial Services LLC acquired a new stake in shares of Microchip Technology in the first quarter valued at approximately $318,000. Finally, Toronto Dominion Bank raised its position in shares of Microchip Technology by 3.5% in the fourth quarter. Toronto Dominion Bank now owns 308,684 shares of the semiconductor company's stock valued at $17,703,000 after buying an additional 10,560 shares in the last quarter. 91.51% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, Director Matthew W. Chapman sold 10,000 shares of the firm's stock in a transaction dated Monday, August 25th. The shares were sold at an average price of $68.25, for a total value of $682,500.00. Following the completion of the sale, the director directly owned 30,665 shares of the company's stock, valued at approximately $2,092,886.25. This trade represents a 24.59% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, 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 completion of the sale, the chief financial officer directly owned 30,010 shares of the company's stock, valued at approximately $2,062,287.20. This represents a 19.69% decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.94% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

MCHP has been the subject of a number of analyst reports. TD Cowen dropped their price target on shares of Microchip Technology from $75.00 to $60.00 and set a "hold" rating for the company in a research report on Friday, August 8th. Mizuho lifted their price objective on shares of Microchip Technology from $78.00 to $85.00 and gave the company an "outperform" rating in a research note on Tuesday, July 8th. The Goldman Sachs Group started coverage on shares of Microchip Technology in a research note on Thursday, July 10th. They set a "buy" rating and a $88.00 target price on the stock. Susquehanna boosted their target price on shares of Microchip Technology from $60.00 to $90.00 and gave the stock a "positive" rating in a research note on Tuesday, July 22nd. Finally, Wells Fargo & Company started coverage on shares of Microchip Technology in a research note on Monday, September 15th. They set an "equal weight" rating and a $60.00 target price on the stock. One analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and seven have issued a Hold rating to the stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $75.75.

Microchip Technology Stock Performance

Shares of Microchip Technology stock traded down $1.11 on Friday, reaching $65.15. 13,346,423 shares of the company traded hands, compared to its average volume of 7,494,503. The firm has a market capitalization of $35.16 billion, a PE ratio of -191.62, a PEG ratio of 1.87 and a beta of 1.56. 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 company has a 50 day moving average of $67.21 and a 200 day moving average of $59.89. Microchip Technology Incorporated has a 52 week low of $34.13 and a 52 week high of $81.64.

Microchip Technology (NASDAQ:MCHP - Get Free Report) last posted its earnings results on Thursday, August 7th. The semiconductor company reported $0.27 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.24 by $0.03. Microchip Technology had a negative net margin of 3.50% and a positive return on equity of 6.24%. The business had revenue of $1.08 billion for the quarter, compared to analysts' expectations of $1.05 billion. During the same period in the prior year, the company posted $0.53 EPS. The business's revenue for the quarter was down 13.3% compared to the same quarter last year. Microchip Technology has set its Q2 2026 guidance at 0.340-0.370 EPS. Equities analysts forecast that Microchip Technology Incorporated will post 1.03 earnings per share for the current year.

Microchip Technology Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, September 5th. Shareholders of record on Friday, August 22nd were issued a $0.455 dividend. This represents a $1.82 dividend on an annualized basis and a yield of 2.8%. The ex-dividend date of this dividend was Friday, August 22nd. Microchip Technology's dividend payout ratio (DPR) is -535.29%.

Microchip Technology Company 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.