Microchip Technology appoints Rick Cassidy to its Board of Directors, enhancing strategic leadership and industry expertise.
Quiver AI Summary
Microchip Technology Incorporated announced the appointment of Rick Cassidy to its Board of Directors, effective May 2, 2025. Cassidy, Senior Vice President of Corporate Strategy Development at Taiwan Semiconductor Manufacturing Co. Ltd. (TSMC) and Chairman of TSMC Arizona, brings nearly 30 years of experience in the semiconductor industry, having held significant leadership roles at TSMC and other companies. Microchip's President and CEO, Steve Sanghi, expressed enthusiasm for Cassidy's expertise in strategy and industry leadership, believing he will greatly contribute to Microchip's ongoing success. Cassidy stated his honor in joining the board and his eagerness to support Microchip’s commitment to innovation and growth in the semiconductor market.
Potential Positives
- Rick Cassidy's appointment to the Board of Directors brings extensive experience from TSMC, enhancing Microchip's strategic leadership and industry insights.
- Mr. Cassidy's background in shaping corporate strategy and the fabless semiconductor model is expected to drive Microchip's growth and innovation.
- The announcement reflects Microchip's commitment to strengthening its position in the semiconductor industry through high-level appointments.
Potential Negatives
- Appointment of Rick Cassidy may raise concerns about potential over-reliance on external expertise instead of promoting internal leadership development.
- The announcement does not provide clear details on how Mr. Cassidy's contributions will impact the company's current strategic direction or operations, leaving stakeholders with unanswered questions.
- While the appointed board member comes with significant experience, there is no mention of previous performance or outcomes from other companies he has been associated with, which may lead to skepticism regarding his fit and effectiveness in Microchip's context.
FAQ
Who is Rick Cassidy?
Rick Cassidy is the Senior Vice President of Corporate Strategy Development at TSMC and Chairman of TSMC Arizona.
What role will Rick Cassidy have at Microchip?
Rick Cassidy will join the Board of Directors of Microchip effective May 2, 2025.
What experience does Rick Cassidy bring to Microchip?
Rick Cassidy brings nearly three decades of leadership experience in the semiconductor industry, including key positions at TSMC and National Semiconductor.
What does Microchip Technology focus on?
Microchip Technology provides smart, connected, and secure embedded control solutions across various markets such as industrial, automotive, and aerospace.
How can I learn more about Microchip Technology?
For more information about Microchip, visit their official website at www.microchip.com.
Disclaimer: This is an AI-generated summary of a press release distributed by GlobeNewswire. The model used to summarize this release may make mistakes. See the full release here.
$MCHP Congressional Stock Trading
Members of Congress have traded $MCHP stock 1 times in the past 6 months. Of those trades, 0 have been purchases and 1 have been sales.
Here’s a breakdown of recent trading of $MCHP stock by members of Congress over the last 6 months:
- REPRESENTATIVE JULIE JOHNSON sold up to $15,000 on 02/05.
To track congressional stock trading, check out Quiver Quantitative's congressional trading dashboard.
$MCHP Insider Trading Activity
$MCHP insiders have traded $MCHP stock on the open market 2 times in the past 6 months. Of those trades, 0 have been purchases and 2 have been sales.
Here’s a breakdown of recent trading of $MCHP stock by insiders over the last 6 months:
- JAMES ERIC BJORNHOLT (SENIOR VP AND CFO) has made 0 purchases and 2 sales selling 8,412 shares for an estimated $544,329.
To track insider transactions, check out Quiver Quantitative's insider trading dashboard.
$MCHP Hedge Fund Activity
We have seen 465 institutional investors add shares of $MCHP stock to their portfolio, and 688 decrease their positions in their most recent quarter.
Here are some of the largest recent moves:
- PRINCIPAL FINANCIAL GROUP INC removed 7,011,987 shares (-91.8%) from their portfolio in Q1 2025, for an estimated $339,450,290
- JPMORGAN CHASE & CO removed 5,237,515 shares (-18.0%) from their portfolio in Q4 2024, for an estimated $300,371,485
- BLACKROCK, INC. added 4,908,661 shares (+9.9%) to their portfolio in Q1 2025, for an estimated $237,628,279
- UBS GROUP AG added 4,880,202 shares (+149.2%) to their portfolio in Q4 2024, for an estimated $279,879,584
- CITADEL ADVISORS LLC added 4,661,441 shares (+2544.1%) to their portfolio in Q4 2024, for an estimated $267,333,641
- BANK OF AMERICA CORP /DE/ removed 4,098,764 shares (-38.1%) from their portfolio in Q4 2024, for an estimated $235,064,115
- BARROW HANLEY MEWHINNEY & STRAUSS LLC added 3,912,895 shares (+273.2%) to their portfolio in Q4 2024, for an estimated $224,404,528
To track hedge funds' stock portfolios, check out Quiver Quantitative's institutional holdings dashboard.
$MCHP Analyst Ratings
Wall Street analysts have issued reports on $MCHP in the last several months. We have seen 4 firms issue buy ratings on the stock, and 0 firms issue sell ratings.
Here are some recent analyst ratings:
- B. Riley issued a "Buy" rating on 04/24/2025
- KeyBanc issued a "Overweight" rating on 12/03/2024
- Citigroup issued a "Buy" rating on 12/03/2024
- Evercore ISI issued a "Outperform" rating on 11/06/2024
To track analyst ratings and price targets for $MCHP, check out Quiver Quantitative's $MCHP forecast page.
$MCHP Price Targets
Multiple analysts have issued price targets for $MCHP recently. We have seen 8 analysts offer price targets for $MCHP in the last 6 months, with a median target of $78.0.
Here are some recent targets:
- An analyst from Truist Financial set a target price of $43.0 on 04/21/2025
- An analyst from Mizuho Securities set a target price of $68.0 on 03/04/2025
- Joseph Moore from Morgan Stanley set a target price of $58.0 on 02/04/2025
- Weston Twigg from KeyBanc set a target price of $90.0 on 12/03/2024
- Rajvindra Gill from Needham set a target price of $85.0 on 11/06/2024
- Mark Lipacis from Evercore ISI set a target price of $95.0 on 11/06/2024
- Melissa Fairbanks from Raymond James set a target price of $95.0 on 11/06/2024
Full Release
CHANDLER, Ariz., May 02, 2025 (GLOBE NEWSWIRE) -- (NASDAQ: MCHP) – Microchip Technology Incorporated, a leading provider of smart, connected and secure embedded control solutions, today announced that Rick Cassidy, Senior Vice President of Corporate Strategy Development at Taiwan Semiconductor Manufacturing Co. Ltd. (TSMC) and Chairman of TSMC Arizona, will join the Board of Directors of Microchip effective May 2, 2025.
Regarding Mr. Cassidy’s appointment to the board, Microchip’s President and CEO, Steve Sanghi, said, “We are thrilled to welcome Rick Cassidy to Microchip's Board of Directors. During his nearly three decades at TSMC, Rick has held significant leadership roles which include President and CEO of TSMC North America, and the founding President and CEO of TSMC Arizona, where today he holds the title of Chairman. He has been instrumental in shaping corporate strategy and driving the success of the fabless semiconductor model. Rick’s extensive background, which also includes key positions at National Semiconductor and service on the Global Semiconductor Alliance Board, brings invaluable expertise in strategy, customer trust, and industry leadership. We are confident that Rick will be a tremendous asset to Microchip, and we look forward to his contributions to our continued success.”
Mr. Cassidy commented, “I am honored to join Microchip's Board of Directors and look forward to contributing to its ongoing achievements. Microchip's dedication to innovation and customer satisfaction aligns with my values, and I am excited to help drive strategic growth and further strengthen its position in the semiconductor industry.”
About Microchip:
Microchip Technology Incorporated is a leading provider of smart, connected and secure embedded control solutions. Its easy-to-use development tools and comprehensive product portfolio enable customers to create optimal designs, which reduce risk while lowering total system cost and time to market. The company's solutions serve approximately 112,000 customers across the industrial, automotive, consumer, aerospace and defense, communications and computing markets. Headquartered in Chandler, Arizona, Microchip offers outstanding technical support along with dependable delivery and quality. For more information, visit the Microchip website at
www.microchip.com
.
The Microchip logo and name are registered trademarks of Microchip Technology Incorporated.
INVESTOR RELATIONS CONTACT:
Sajid Daudi -- Head of investor Relations
(480) 792-7385
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