Microchip Technology Incorporated $MCHP Shares Sold by California State Teachers Retirement System

California State Teachers Retirement System reduced its position in Microchip Technology Incorporated (NASDAQ:MCHP) by 2.1% in the 1st quarter, according to its most recent filing with the SEC. The firm owned 794,312 shares of the semiconductor company’s stock after selling 17,027 shares during the period. California State Teachers Retirement System’s holdings in Microchip Technology were worth $51,320,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Vanguard Group Inc. boosted its holdings in shares of Microchip Technology by 2.0% during the fourth quarter. Vanguard Group Inc. now owns 73,506,339 shares of the semiconductor company’s stock worth $4,683,824,000 after purchasing an additional 1,430,781 shares during the last quarter. State Street Corp grew its position in shares of Microchip Technology by 2.8% in the fourth quarter. State Street Corp now owns 28,863,048 shares of the semiconductor company’s stock valued at $1,839,153,000 after purchasing an additional 783,157 shares during the period. Boston Partners increased its stake in Microchip Technology by 9.5% in the third quarter. Boston Partners now owns 16,234,332 shares of the semiconductor company’s stock valued at $1,044,024,000 after purchasing an additional 1,406,885 shares during the last quarter. Geode Capital Management LLC increased its stake in Microchip Technology by 1.4% in the fourth quarter. Geode Capital Management LLC now owns 15,394,985 shares of the semiconductor company’s stock valued at $977,638,000 after purchasing an additional 213,188 shares during the last quarter. Finally, Invesco Ltd. lifted its position in Microchip Technology by 4.8% during the fourth quarter. Invesco Ltd. now owns 14,992,128 shares of the semiconductor company’s stock worth $955,298,000 after buying an additional 684,561 shares during the period. 91.51% of the stock is owned by hedge funds and other institutional investors.

Microchip Technology Trading Up 5.1%

NASDAQ MCHP opened at $75.01 on Friday. Microchip Technology Incorporated has a one year low of $48.52 and a one year high of $105.91. The company’s 50 day moving average price is $89.25 and its 200 day moving average price is $81.20. The company has a debt-to-equity ratio of 0.85, a quick ratio of 1.18 and a current ratio of 2.09. The firm has a market capitalization of $40.73 billion, a price-to-earnings ratio of 357.21, a PEG ratio of 0.72 and a beta of 1.74.

Microchip Technology (NASDAQ:MCHP) last announced its quarterly earnings results on Thursday, May 7th. The semiconductor company reported $0.57 earnings per share for the quarter, beating analysts’ consensus estimates of $0.50 by $0.07. Microchip Technology had a net margin of 4.88% and a return on equity of 10.87%. The firm had revenue of $1.31 billion for the quarter, compared to analysts’ expectations of $1.26 billion. During the same period in the previous year, the company posted $0.11 earnings per share. Microchip Technology’s revenue was up 35.1% compared to the same quarter last year. Microchip Technology has set its Q1 2027 guidance at 0.670-0.710 EPS. On average, sell-side analysts predict that Microchip Technology Incorporated will post 2.7 EPS for the current year.

Microchip Technology Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, June 5th. Investors of record on Friday, May 22nd were issued a dividend of $0.455 per share. The ex-dividend date was Friday, May 22nd. This represents a $1.82 annualized dividend and a dividend yield of 2.4%. Microchip Technology’s payout ratio is presently 866.67%.

Insider Buying and Selling

In other Microchip Technology news, Director Matthew W. Chapman sold 3,000 shares of the firm’s stock in a transaction dated Thursday, May 28th. The stock was sold at an average price of $97.52, for a total value of $292,560.00. Following the transaction, the director directly owned 17,665 shares of the company’s stock, valued at $1,722,690.80. This trade represents a 14.52% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO James Eric Bjornholt sold 3,667 shares of the business’s stock in a transaction dated Friday, May 22nd. The stock was sold at an average price of $90.87, for a total value of $333,220.29. Following the transaction, the chief financial officer owned 28,573 shares in the company, valued at approximately $2,596,428.51. This represents a 11.37% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders sold 26,750 shares of company stock valued at $2,543,170. Company insiders own 1.79% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on MCHP. JPMorgan Chase & Co. raised their price target on Microchip Technology from $95.00 to $120.00 and gave the stock an “overweight” rating in a research note on Friday, May 8th. TD Cowen cut their price objective on shares of Microchip Technology from $105.00 to $90.00 and set a “hold” rating on the stock in a report on Monday, July 13th. UBS Group reissued a “buy” rating on shares of Microchip Technology in a research report on Tuesday, June 2nd. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $125.00 price target on shares of Microchip Technology in a research report on Wednesday, May 13th. Finally, Truist Financial increased their price target on shares of Microchip Technology from $69.00 to $105.00 and gave the stock a “hold” rating in a research note on Friday, May 8th. Four analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and seven have given a Hold rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $99.76.

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.