Public Employees Retirement System of Ohio Takes Position in Microchip Technology Incorporated $MCHP

Public Employees Retirement System of Ohio bought a new position in shares of Microchip Technology Incorporated (NASDAQ:MCHP) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 229,526 shares of the semiconductor company’s stock, valued at approximately $20,933,000.

Several other hedge funds have also recently added to or reduced their stakes in MCHP. State Street Corp grew its holdings in Microchip Technology by 2.8% during the 4th quarter. State Street Corp now owns 28,863,048 shares of the semiconductor company’s stock worth $1,839,153,000 after acquiring an additional 783,157 shares in the last quarter. Boston Partners increased its holdings 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 buying an additional 1,406,885 shares during the last quarter. Geode Capital Management LLC raised 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 buying an additional 213,188 shares in the last quarter. Invesco Ltd. raised its stake in Microchip Technology by 4.8% in the fourth quarter. Invesco Ltd. now owns 14,992,128 shares of the semiconductor company’s stock valued at $955,298,000 after buying an additional 684,561 shares in the last quarter. Finally, Barclays PLC lifted its holdings in Microchip Technology by 66.5% during the 4th quarter. Barclays PLC now owns 13,996,883 shares of the semiconductor company’s stock worth $891,881,000 after buying an additional 5,590,210 shares during the last quarter. Institutional investors and hedge funds own 91.51% of the company’s stock.

Microchip Technology Price Performance

MCHP stock opened at $72.93 on Friday. The company has a current ratio of 1.92, a quick ratio of 1.11 and a debt-to-equity ratio of 0.83. The company has a market capitalization of $39.60 billion, a P/E ratio of 108.85, a PEG ratio of 0.51 and a beta of 1.76. The business has a 50 day simple moving average of $81.90 and a 200-day simple moving average of $81.37. Microchip Technology Incorporated has a twelve month low of $48.52 and a twelve month high of $105.91.

Microchip Technology (NASDAQ:MCHP) last announced its earnings results on Thursday, August 6th. The semiconductor company reported $0.76 EPS for the quarter, beating analysts’ consensus estimates of $0.70 by $0.06. Microchip Technology had a net margin of 9.34% and a return on equity of 14.97%. The business had revenue of $1.48 billion during the quarter, compared to analysts’ expectations of $1.46 billion. During the same period in the prior year, the company earned $0.27 earnings per share. The business’s revenue was up 38.0% compared to the same quarter last year. Microchip Technology has set its Q2 2027 guidance at 0.910-0.950 EPS. As a group, equities analysts anticipate that Microchip Technology Incorporated will post 3.16 EPS for the current year.

Microchip Technology Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 9th. Investors of record on Monday, August 24th will be given a $0.455 dividend. This represents a $1.82 dividend on an annualized basis and a yield of 2.5%. The ex-dividend date is Monday, August 24th. Microchip Technology’s dividend payout ratio (DPR) is 271.64%.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on the company. Wall Street Zen raised Microchip Technology from a “hold” rating to a “buy” rating in a research report on Saturday, May 9th. Truist Financial decreased their target price on Microchip Technology from $105.00 to $90.00 and set a “hold” rating for the company in a research note on Friday, August 7th. Needham & Company LLC upped their price target on Microchip Technology from $84.00 to $120.00 and gave the company a “buy” rating in a report on Friday, May 8th. BMO Capital Markets initiated coverage on shares of Microchip Technology in a research note on Friday, August 21st. They issued an “outperform” rating and a $95.00 price target on the stock. Finally, Wells Fargo & Company cut their price objective on shares of Microchip Technology from $95.00 to $88.00 and set an “equal weight” rating on the stock in a report on Monday, July 20th. Three analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and eight have issued a Hold rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $98.67.

Insider Buying and Selling at Microchip Technology

In other news, COO Richard J. Simoncic sold 5,000 shares of the business’s stock in a transaction dated Thursday, June 4th. The shares were sold at an average price of $97.52, for a total transaction of $487,600.00. Following the transaction, the chief operating officer directly owned 130,508 shares in the company, valued at $12,727,140.16. The trade was a 3.69% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO James Eric Bjornholt sold 4,112 shares of the stock in a transaction dated Tuesday, August 25th. The stock was sold at an average price of $75.32, for a total transaction of $309,715.84. Following the transaction, the chief financial officer directly owned 28,573 shares of the company’s stock, valued at $2,152,118.36. This represents a 12.58% decrease in their ownership of the stock. 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. Insiders sold a total of 9,949 shares of company stock worth $864,493 over the last three months. 1.79% of the stock is currently owned by corporate insiders.

About Microchip Technology

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.