Norges Bank Purchases Shares of 6,726,161 Microchip Technology Incorporated $MCHP

Norges Bank acquired a new position in shares of Microchip Technology Incorporated (NASDAQ:MCHP) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 6,726,161 shares of the semiconductor company’s stock, valued at approximately $473,320,000. Norges Bank owned 1.25% of Microchip Technology as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in MCHP. Level Four Advisory Services LLC lifted its stake in Microchip Technology by 2.9% during the second quarter. Level Four Advisory Services LLC now owns 119,292 shares of the semiconductor company’s stock worth $8,395,000 after purchasing an additional 3,334 shares during the period. State Board of Administration of Florida Retirement System grew its stake in shares of Microchip Technology by 0.6% in the 2nd quarter. State Board of Administration of Florida Retirement System now owns 527,740 shares of the semiconductor company’s stock valued at $37,137,000 after purchasing an additional 2,980 shares during the period. Korea Investment CORP raised its holdings in shares of Microchip Technology by 46.5% in the 2nd quarter. Korea Investment CORP now owns 237,638 shares of the semiconductor company’s stock worth $16,723,000 after buying an additional 75,469 shares in the last quarter. Elevation Point Wealth Partners LLC lifted its position in shares of Microchip Technology by 73.7% during the 2nd quarter. Elevation Point Wealth Partners LLC now owns 12,000 shares of the semiconductor company’s stock worth $844,000 after buying an additional 5,091 shares during the period. Finally, Quadrant Capital Group LLC boosted its stake in Microchip Technology by 121.3% in the 2nd quarter. Quadrant Capital Group LLC now owns 10,410 shares of the semiconductor company’s stock valued at $733,000 after buying an additional 5,705 shares in the last quarter. Institutional investors own 91.51% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have issued reports on MCHP shares. Cantor Fitzgerald dropped their price objective on Microchip Technology from $70.00 to $65.00 and set a “neutral” rating for the company in a research note on Friday, November 7th. TD Cowen lowered their target price on shares of Microchip Technology from $65.00 to $60.00 and set a “hold” rating on the stock in a report on Friday, November 7th. Raymond James Financial increased their target price on shares of Microchip Technology from $65.00 to $75.00 and gave the stock a “strong-buy” rating in a research report on Friday, August 8th. Wells Fargo & Company reduced their price target on shares of Microchip Technology from $60.00 to $58.00 and set an “equal weight” rating on the stock in a research report on Friday, November 7th. Finally, Stifel Nicolaus decreased their price objective on shares of Microchip Technology from $82.00 to $75.00 and set a “buy” rating on the stock in a research note on Friday, November 7th. One analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, seven have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, Microchip Technology has an average rating of “Moderate Buy” and an average target price of $73.47.

Insider Transactions at Microchip Technology

In other Microchip Technology news, CFO James Eric Bjornholt sold 4,292 shares of the company’s stock in a transaction on Tuesday, November 25th. The stock was sold at an average price of $50.39, for a total transaction of $216,273.88. Following the transaction, the chief financial officer owned 30,089 shares of the company’s stock, valued at approximately $1,516,184.71. This represents a 12.48% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 1.94% of the company’s stock.

Microchip Technology Stock Performance

Microchip Technology stock opened at $52.50 on Friday. The stock has a 50-day simple moving average of $60.57 and a 200 day simple moving average of $64.59. The stock has a market capitalization of $28.37 billion, a price-to-earnings ratio of -154.41, a P/E/G ratio of 1.79 and a beta of 1.57. The company has a quick ratio of 1.33, a current ratio of 2.31 and a debt-to-equity ratio of 0.80. Microchip Technology Incorporated has a 12-month low of $34.13 and a 12-month high of $77.20.

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

Microchip Technology Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 9th. Investors of record on Monday, November 24th will be given a $0.455 dividend. This represents a $1.82 annualized dividend and a yield of 3.5%. The ex-dividend date is Monday, November 24th. Microchip Technology’s payout ratio is -404.44%.

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.