BlackRock Trims Microchip Tech Stake to 7.3% as of Dec 31, 2023
Ticker: MCHPP · Form: SC 13G/A · Filed: Jan 25, 2024 · CIK: 827054
| Field | Detail |
|---|---|
| Company | Microchip Technology Inc (MCHPP) |
| Form Type | SC 13G/A |
| Filed Date | Jan 25, 2024 |
| Risk Level | low |
| Sentiment | neutral |
Complexity: simple
Sentiment: neutral
Topics: institutional-ownership, stake-change, semiconductors
TL;DR
**BlackRock cut its Microchip Technology stake to 7.3% as of year-end 2023.**
AI Summary
BlackRock Inc. filed an amended Schedule 13G/A on January 25, 2024, indicating a change in its ownership stake in Microchip Technology Inc. As of December 31, 2023, BlackRock reported beneficial ownership of 40,587,316 shares of Microchip Technology's Common Stock, representing 7.3% of the company's outstanding shares. This is an amendment (Amendment No: 11) to their previous filing, showing a slight decrease from their prior reported ownership, which matters to investors as it signals BlackRock's adjusted confidence in the stock.
Why It Matters
This filing shows that a major institutional investor, BlackRock, has slightly reduced its stake in Microchip Technology, which could be interpreted by some as a minor loss of confidence in the company's short-term prospects.
Risk Assessment
Risk Level: low — A minor adjustment by a large institutional investor like BlackRock typically doesn't pose a significant risk to the company's fundamentals.
Analyst Insight
Investors should note BlackRock's minor reduction in stake but consider it in the broader context of Microchip Technology's performance and other institutional holdings, rather than as a strong sell signal.
Key Numbers
- 40,587,316 — Shares Beneficially Owned (This is the total number of Microchip Technology shares BlackRock Inc. reported owning as of December 31, 2023.)
- 7.3% — Percentage of Class (This represents BlackRock Inc.'s ownership percentage of Microchip Technology's common stock.)
- December 31, 2023 — Reporting Date (This is the snapshot date for the ownership data reported in the filing.)
- 11 — Amendment Number (This indicates that this is the eleventh amendment to BlackRock's Schedule 13G filing for Microchip Technology.)
Key Players & Entities
- BlackRock Inc. (company) — the reporting person and institutional investor
- Microchip Technology Inc. (company) — the subject company whose securities are being reported
- 40,587,316 shares (dollar_amount) — the total number of shares beneficially owned by BlackRock Inc.
- 7.3% (dollar_amount) — the percentage of Microchip Technology Inc.'s class of securities beneficially owned by BlackRock Inc.
- December 31, 2023 (date) — the date of the event which required the filing of this statement
Forward-Looking Statements
- BlackRock's slight reduction in stake suggests a neutral to slightly less bullish outlook on Microchip Technology's near-term performance. (BlackRock Inc.) — medium confidence, target: Q1 2024
FAQ
What is the purpose of this SC 13G/A filing by BlackRock Inc. regarding Microchip Technology Inc.?
This SC 13G/A filing is an amendment (Amendment No: 11) by BlackRock Inc. to report a change in its beneficial ownership of Microchip Technology Inc.'s Common Stock, as required by Rule 13d-1(b) of the Securities Exchange Act of 1934, with the event date being December 31, 2023.
How many shares of Microchip Technology Inc. does BlackRock Inc. beneficially own according to this filing?
As of December 31, 2023, BlackRock Inc. beneficially owns 40,587,316 shares of Microchip Technology Inc.'s Common Stock.
What percentage of Microchip Technology Inc.'s Common Stock does BlackRock Inc. own?
BlackRock Inc. beneficially owns 7.3% of Microchip Technology Inc.'s Common Stock, based on the information provided in the filing.
When was the event date that triggered this filing?
The date of the event which required the filing of this statement was December 31, 2023.
What is the CUSIP number for Microchip Technology Inc.'s securities mentioned in the filing?
The CUSIP number for Microchip Technology Inc.'s Common Stock is 595017104.
Filing Details
This Form SC 13G/A (Form SC 13G/A) was filed with the SEC on January 25, 2024 regarding MICROCHIP TECHNOLOGY INC (MCHPP).