Bank of Montreal Can Grows Stake in Microchip Technology Incorporated $MCHP

Bank of Montreal Can grew its stake in shares of Microchip Technology Incorporated (NASDAQ:MCHP) by 49.8% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 2,243,633 shares of the semiconductor company’s stock after acquiring an additional 745,387 shares during the quarter. Bank of Montreal Can owned about 0.42% of Microchip Technology worth $144,086,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of MCHP. AQR Capital Management LLC raised its stake in shares of Microchip Technology by 51.3% in the first quarter. AQR Capital Management LLC now owns 17,201 shares of the semiconductor company’s stock worth $827,000 after purchasing an additional 5,835 shares during the last quarter. Geneos Wealth Management Inc. boosted its position in shares of Microchip Technology by 101.8% during the first quarter. Geneos Wealth Management Inc. now owns 1,221 shares of the semiconductor company’s stock valued at $59,000 after buying an additional 616 shares during the last quarter. AE Wealth Management LLC bought a new stake in Microchip Technology in the 2nd quarter worth about $662,000. Rathbones Group PLC increased its holdings in Microchip Technology by 4.6% in the 2nd quarter. Rathbones Group PLC now owns 44,829 shares of the semiconductor company’s stock worth $3,155,000 after buying an additional 1,970 shares in the last quarter. Finally, Midwest Trust Co purchased a new position in Microchip Technology in the 2nd quarter worth about $421,000. Institutional investors own 91.51% of the company’s stock.

Insider Buying and Selling

In other Microchip Technology news, CEO Steve Sanghi sold 98,814 shares of the company’s stock in a transaction that occurred on Wednesday, January 28th. The shares were sold at an average price of $80.55, for a total value of $7,959,467.70. Following the completion of the transaction, the chief executive officer directly owned 9,922,319 shares in the company, valued at $799,242,795.45. This represents a 0.99% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 1.94% of the company’s stock.

Microchip Technology Trading Up 0.5%

NASDAQ:MCHP opened at $65.33 on Wednesday. Microchip Technology Incorporated has a one year low of $34.13 and a one year high of $83.35. The business has a fifty day moving average price of $74.25 and a 200-day moving average price of $66.70. The firm has a market capitalization of $35.35 billion, a price-to-earnings ratio of -225.28, a price-to-earnings-growth ratio of 1.64 and a beta of 1.45. The company has a debt-to-equity ratio of 0.82, a current ratio of 2.16 and a quick ratio of 1.16.

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

Microchip Technology Announces Dividend

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

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on MCHP shares. Susquehanna raised their price target on shares of Microchip Technology from $75.00 to $90.00 and gave the company a “positive” rating in a report on Thursday, January 22nd. Needham & Company LLC boosted their price objective on shares of Microchip Technology from $77.00 to $84.00 and gave the company a “buy” rating in a report on Friday, February 6th. UBS Group increased their price objective on shares of Microchip Technology from $85.00 to $95.00 and gave the company a “buy” rating in a research report on Monday, January 26th. Mizuho raised their target price on shares of Microchip Technology from $83.00 to $90.00 and gave the stock an “outperform” rating in a report on Friday, February 6th. Finally, Truist Financial lifted their price objective on Microchip Technology from $60.00 to $68.00 and gave the stock a “hold” rating in a report on Friday, February 6th. Three 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 company. According to data from MarketBeat.com, Microchip Technology has a consensus rating of “Moderate Buy” and a consensus target price of $86.00.

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.