Cincinnati Insurance Co. Boosts Stake in Microchip Technology Incorporated $MCHP

Cincinnati Insurance Co. raised its holdings in Microchip Technology Incorporated (NASDAQ:MCHP) by 12.7% during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 509,100 shares of the semiconductor company’s stock after acquiring an additional 57,500 shares during the period. Cincinnati Insurance Co. owned approximately 0.09% of Microchip Technology worth $35,825,000 at the end of the most recent reporting period.

A number of other large investors have also recently modified their holdings of the business. OneDigital Investment Advisors LLC lifted its position in Microchip Technology by 39.6% during the first quarter. OneDigital Investment Advisors LLC now owns 6,394 shares of the semiconductor company’s stock valued at $310,000 after purchasing an additional 1,814 shares during the last quarter. Stratos Wealth Partners LTD. grew its position in Microchip Technology by 16.1% in the first quarter. Stratos Wealth Partners LTD. now owns 5,433 shares of the semiconductor company’s stock worth $263,000 after acquiring an additional 753 shares in the last quarter. Xponance Inc. increased its stake in Microchip Technology by 1.9% in the first quarter. Xponance Inc. now owns 83,034 shares of the semiconductor company’s stock valued at $4,020,000 after acquiring an additional 1,515 shares during the last quarter. Ballentine Partners LLC raised its position in Microchip Technology by 6.1% during the first quarter. Ballentine Partners LLC now owns 4,999 shares of the semiconductor company’s stock valued at $242,000 after purchasing an additional 286 shares in the last quarter. Finally, Arizona State Retirement System lifted its stake in Microchip Technology by 1.9% during the first quarter. Arizona State Retirement System now owns 155,242 shares of the semiconductor company’s stock worth $7,515,000 after purchasing an additional 2,882 shares during the last quarter. Institutional investors own 91.51% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on MCHP shares. Susquehanna decreased their price objective on Microchip Technology from $85.00 to $75.00 and set a “positive” rating on the stock in a report on Friday. Piper Sandler increased their price target on shares of Microchip Technology from $65.00 to $80.00 and gave the company an “overweight” rating in a research report on Friday, August 8th. Cantor Fitzgerald lowered their price objective on shares of Microchip Technology from $70.00 to $65.00 and set a “neutral” rating for the company in a report on Friday. Stifel Nicolaus cut their price objective on shares of Microchip Technology from $82.00 to $75.00 and set a “buy” rating for the company in a research note on Friday. Finally, Morgan Stanley increased their target price on shares of Microchip Technology from $63.00 to $68.00 and gave the company an “equal weight” rating in a report on Tuesday, November 4th. One research analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating, seven have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $73.47.

Insider Transactions at Microchip Technology

In other Microchip Technology news, CFO James Eric Bjornholt sold 7,356 shares of Microchip Technology stock in a transaction that occurred on Monday, August 25th. The stock was sold at an average price of $68.72, for a total transaction of $505,504.32. Following the sale, the chief financial officer directly owned 30,010 shares of the company’s stock, valued at approximately $2,062,287.20. The trade was a 19.69% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Matthew W. Chapman sold 10,000 shares of the stock in a transaction that occurred on Monday, August 25th. The stock was sold at an average price of $68.25, for a total value of $682,500.00. Following the completion of the transaction, the director directly owned 30,665 shares of the company’s stock, valued at $2,092,886.25. This represents a 24.59% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders own 1.94% of the company’s stock.

Microchip Technology Trading Down 5.2%

NASDAQ MCHP opened at $56.28 on Friday. The stock has a market cap of $30.37 billion, a P/E ratio of -165.53, a price-to-earnings-growth ratio of 1.79 and a beta of 1.57. Microchip Technology Incorporated has a fifty-two week low of $34.13 and a fifty-two week high of $77.20. The stock has a 50 day simple moving average of $64.24 and a two-hundred day simple moving average of $64.25. The company has a debt-to-equity ratio of 0.80, a quick ratio of 1.33 and a current ratio of 2.31.

Microchip Technology (NASDAQ:MCHP) last announced its earnings results on Thursday, November 6th. The semiconductor company reported $0.35 EPS for the quarter, beating analysts’ consensus estimates of $0.33 by $0.02. Microchip Technology had a positive return on equity of 6.24% and a negative net margin of 3.50%.The company had revenue of $1.14 billion during the quarter, compared to the consensus estimate of $1.13 billion. During the same quarter in the prior year, the company earned $0.46 earnings per share. The firm’s revenue for the quarter was down 2.0% on a year-over-year basis. Microchip Technology has set its Q3 2026 guidance at 0.340-0.400 EPS. On average, analysts forecast that Microchip Technology Incorporated will post 1.03 earnings per share for the current year.

Microchip Technology Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 9th. Stockholders of record on Monday, November 24th will be given a $0.455 dividend. This represents a $1.82 annualized dividend and a dividend yield of 3.2%. The ex-dividend date of this dividend is Monday, November 24th. Microchip Technology’s dividend payout ratio (DPR) is currently -535.29%.

Microchip Technology 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.