Teachers Retirement System of The State of Kentucky Acquires 152,100 Shares of Microchip Technology Incorporated $MCHP

Teachers Retirement System of The State of Kentucky raised its stake in shares of Microchip Technology Incorporated (NASDAQ:MCHP) by 361.6% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 194,158 shares of the semiconductor company’s stock after buying an additional 152,100 shares during the quarter. Teachers Retirement System of The State of Kentucky’s holdings in Microchip Technology were worth $12,544,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently modified their holdings of MCHP. Vanguard Group Inc. boosted its position 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 acquiring an additional 1,430,781 shares during the last quarter. State Street Corp lifted its stake in Microchip Technology by 2.8% in the 4th quarter. State Street Corp now owns 28,863,048 shares of the semiconductor company’s stock worth $1,839,153,000 after purchasing an additional 783,157 shares in the last quarter. Boston Partners lifted its stake in Microchip Technology by 9.5% in the 3rd quarter. Boston Partners now owns 16,234,332 shares of the semiconductor company’s stock worth $1,044,024,000 after purchasing an additional 1,406,885 shares in the last quarter. Geode Capital Management LLC boosted its holdings in shares of Microchip Technology by 1.4% during the 4th 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. boosted its holdings in shares of Microchip Technology by 4.8% during the 4th quarter. Invesco Ltd. now owns 14,992,128 shares of the semiconductor company’s stock valued at $955,298,000 after purchasing an additional 684,561 shares during the last quarter. Institutional investors own 91.51% of the company’s stock.

Analyst Ratings Changes

MCHP has been the topic of several research reports. Needham & Company LLC lifted their target price on Microchip Technology from $84.00 to $120.00 and gave the stock a “buy” rating in a report on Friday, May 8th. Susquehanna increased their price target on Microchip Technology from $95.00 to $120.00 and gave the company a “positive” rating in a research note on Friday, May 8th. Zacks Research raised Microchip Technology from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, May 12th. Citigroup upped their price objective on Microchip Technology from $91.00 to $113.00 and gave the stock a “buy” rating in a report on Friday, May 8th. Finally, Truist Financial increased their target price on Microchip Technology from $69.00 to $105.00 and gave the company a “hold” rating in a research report 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 company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $100.10.

Microchip Technology Trading Down 4.9%

Shares of MCHP stock opened at $84.23 on Tuesday. The company has a market cap of $45.74 billion, a PE ratio of 401.11, a price-to-earnings-growth ratio of 0.91 and a beta of 1.74. Microchip Technology Incorporated has a 1 year low of $48.52 and a 1 year high of $105.91. The stock’s 50 day simple moving average is $93.47 and its two-hundred day simple moving average is $80.05. The company has a debt-to-equity ratio of 0.85, a current ratio of 2.09 and a quick ratio of 1.18.

Microchip Technology (NASDAQ:MCHP) last released its earnings results on Thursday, May 7th. The semiconductor company reported $0.57 earnings per share for the quarter, beating the consensus estimate of $0.50 by $0.07. The firm had revenue of $1.31 billion for the quarter, compared to the consensus estimate of $1.26 billion. Microchip Technology had a return on equity of 10.87% and a net margin of 4.88%.The company’s revenue for the quarter was up 35.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.11 EPS. Microchip Technology has set its Q1 2027 guidance at 0.670-0.710 EPS. Research analysts predict that Microchip Technology Incorporated will post 2.66 earnings per share for the current year.

Microchip Technology Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, June 5th. Investors of record on Friday, May 22nd were paid a dividend of $0.455 per share. The ex-dividend date of this dividend was Friday, May 22nd. This represents a $1.82 dividend on an annualized basis and a dividend yield of 2.2%. Microchip Technology’s payout ratio is currently 866.67%.

Insider Activity

In other Microchip Technology news, CFO James Eric Bjornholt sold 3,667 shares of the business’s stock in a transaction that occurred on Friday, May 22nd. The stock was sold at an average price of $90.87, for a total transaction of $333,220.29. Following the completion of the transaction, the chief financial officer owned 28,573 shares in the company, valued at $2,596,428.51. The trade was a 11.37% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Steve Sanghi sold 416,581 shares of the company’s stock in a transaction that occurred on Thursday, April 23rd. The shares were sold at an average price of $88.53, for a total value of $36,879,915.93. Following the transaction, the chief executive officer directly owned 9,495,805 shares in the company, valued at approximately $840,663,616.65. This represents a 4.20% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders have sold 553,302 shares of company stock valued at $49,673,635. 1.79% of the stock is currently owned by company insiders.

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.