Microchip Technology Incorporated $MCHP Position Lessened by California Public Employees Retirement System

California Public Employees Retirement System decreased its position in shares of Microchip Technology Incorporated (NASDAQ:MCHP) by 2.3% in the first quarter, Holdings Channel.com reports. The firm owned 1,280,223 shares of the semiconductor company’s stock after selling 30,775 shares during the period. California Public Employees Retirement System’s holdings in Microchip Technology were worth $82,715,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in MCHP. EFG International AG bought a new position in Microchip Technology during the fourth quarter valued at approximately $29,000. Miller Capital Partners Inc. acquired a new stake in Microchip Technology in the 4th quarter worth approximately $29,000. Garton & Associates Financial Advisors LLC acquired a new stake in Microchip Technology in the 4th quarter worth approximately $33,000. Reflection Asset Management bought a new stake in Microchip Technology during the fourth quarter worth approximately $33,000. Finally, Caitong International Asset Management Co. Ltd raised its holdings in Microchip Technology by 4,663.6% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 524 shares of the semiconductor company’s stock worth $33,000 after acquiring an additional 513 shares during the period. Institutional investors and hedge funds own 91.51% of the company’s stock.

Insider Buying and Selling

In related news, CFO James Eric Bjornholt sold 3,667 shares of the stock in a transaction that occurred on Friday, May 22nd. The shares were sold at an average price of $90.87, for a total value of $333,220.29. Following the sale, the chief financial officer directly owned 28,573 shares in the company, valued at $2,596,428.51. This trade represents a 11.37% decrease in their position. The sale was disclosed in a legal filing with the SEC, 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 firm’s stock in a transaction dated Thursday, April 23rd. The stock was sold at an average price of $88.53, for a total value of $36,879,915.93. Following the sale, 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. 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 have sold a total of 553,302 shares of company stock valued at $49,673,635 over the last 90 days. 1.79% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of research firms have issued reports on MCHP. Citigroup upped their price target on shares of Microchip Technology from $91.00 to $113.00 and gave the company a “buy” rating in a report on Friday, May 8th. UBS Group reiterated a “buy” rating on shares of Microchip Technology in a research note on Tuesday, June 2nd. Truist Financial increased their price objective on Microchip Technology from $69.00 to $105.00 and gave the company a “hold” rating in a research report on Friday, May 8th. Cantor Fitzgerald restated an “overweight” rating and issued a $125.00 price objective on shares of Microchip Technology in a research note on Wednesday, May 13th. Finally, JPMorgan Chase & Co. boosted their target price on shares of Microchip Technology from $95.00 to $120.00 and gave the stock an “overweight” rating in a research report on Friday, May 8th. Four equities research analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and seven have issued a Hold rating to the stock. According to data from MarketBeat, Microchip Technology presently has an average rating of “Moderate Buy” and a consensus price target of $100.10.

Key Microchip Technology News

Here are the key news stories impacting Microchip Technology this week:

• Positive Sentiment: KeyCorp raised long-term earnings expectations for Microchip Technology, forecasting FY2027 EPS of $3.00 and FY2028 EPS of $3.83, both above current consensus. This points to improving fundamentals and supports a more constructive outlook for NASDAQ:MCHP.
• Positive Sentiment: Recent coverage highlighted Microchip’s strong earnings surprise history and the potential to beat estimates again, reinforcing investor confidence ahead of the next report.
• Positive Sentiment: Another bullish note pointed to Microchip’s 35.3% year-to-date gain being driven by inventory recovery, stronger bookings, and AI data center demand, all of which may continue to support the stock.
• Neutral Sentiment: KeyCorp also provided quarterly estimates for FY2027 and FY2028 periods, but these updates were primarily forecast revisions rather than new company guidance or a major business announcement.

Microchip Technology Stock Performance

Shares of Microchip Technology stock opened at $80.96 on Monday. Microchip Technology Incorporated has a 12-month low of $48.52 and a 12-month high of $105.91. The stock has a market capitalization of $43.96 billion, a P/E ratio of 385.54, a price-to-earnings-growth ratio of 0.82 and a beta of 1.74. The company has a 50-day simple moving average of $92.15 and a 200 day simple moving average of $80.59. The company has a quick ratio of 1.18, a current ratio of 2.09 and a debt-to-equity ratio of 0.85.

Microchip Technology (NASDAQ:MCHP) last released 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 return on equity of 10.87% and a net margin of 4.88%.The firm had revenue of $1.31 billion during the quarter, compared to analysts’ expectations of $1.26 billion. During the same period last year, the firm posted $0.11 EPS. The business’s revenue was up 35.1% on a year-over-year basis. Microchip Technology has set its Q1 2027 guidance at 0.670-0.710 EPS. Research analysts expect that Microchip Technology Incorporated will post 2.69 earnings per share for the current fiscal year.

Microchip Technology Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, June 5th. Investors of record on Friday, May 22nd were issued a $0.455 dividend. 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 dividend payout ratio (DPR) is currently 866.67%.

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.