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

California State Teachers Retirement System grew its stake in shares of Microchip Technology Incorporated (NASDAQ:MCHP - Free Report) by 3.2% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 819,342 shares of the semiconductor company's stock after acquiring an additional 25,030 shares during the period. California State Teachers Retirement System owned about 0.15% of Microchip Technology worth $74,723,990 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of MCHP. Wedmont Private Capital acquired a new position in shares of Microchip Technology during the second quarter valued at $262,000. Widmann Financial Services Inc. raised its stake in shares of Microchip Technology by 6.1% in the second quarter. Widmann Financial Services Inc. now owns 21,208 shares of the semiconductor company's stock valued at $1,934,000 after buying an additional 1,214 shares during the period. HB Wealth Management LLC boosted its stake in shares of Microchip Technology by 1.7% in the 2nd quarter. HB Wealth Management LLC now owns 29,709 shares of the semiconductor company's stock valued at $2,710,000 after purchasing an additional 508 shares in the last quarter. Saudi Central Bank grew its holdings in shares of Microchip Technology by 89.9% during the 2nd quarter. Saudi Central Bank now owns 37,879 shares of the semiconductor company's stock worth $3,455,000 after acquiring an additional 17,930 shares during the period. Finally, Azimuth Capital Investment Management LLC purchased a new stake in Microchip Technology during the 2nd quarter valued at $225,000. 91.51% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several analysts have commented on MCHP shares. Rosenblatt Securities reissued a "buy" rating and set a $120.00 price target on shares of Microchip Technology in a research report on Friday, August 7th. UBS Group restated a "buy" rating and set a $120.00 price objective (down from $130.00) on shares of Microchip Technology in a research report on Friday, August 7th. Weiss Ratings raised shares of Microchip Technology from a "hold (c-)" rating to a "hold (c)" rating in a report on Tuesday, August 11th. Citigroup dropped their target price on shares of Microchip Technology from $113.00 to $95.00 and set a "buy" rating on the stock in a research report on Friday, August 7th. Finally, Truist Financial reduced their price objective on shares of Microchip Technology from $105.00 to $90.00 and set a "hold" rating for the company in a report on Friday, August 7th. Three equities research 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's stock. Based on data from MarketBeat, Microchip Technology currently has a consensus rating of "Moderate Buy" and a consensus target price of $98.67.

Microchip Technology Trading Down 0.8%

MCHP stock traded down $0.58 during mid-day trading on Tuesday, reaching $70.89. The company had a trading volume of 2,533,503 shares, compared to its average volume of 10,227,954. Microchip Technology Incorporated has a 12 month low of $48.52 and a 12 month high of $105.91. The firm has a 50 day moving average of $78.04 and a 200 day moving average of $81.02. The company has a debt-to-equity ratio of 0.83, a current ratio of 1.92 and a quick ratio of 1.11. The company has a market capitalization of $38.50 billion, a PE ratio of 105.73, a price-to-earnings-growth ratio of 0.52 and a beta of 1.75.

Microchip Technology (NASDAQ:MCHP - Get Free Report) last posted 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 return on equity of 14.97% and a net margin of 9.34%.The company had revenue of $1.48 billion for the quarter, compared to the consensus estimate of $1.46 billion. During the same quarter in the previous year, the business earned $0.27 earnings per share. The company's revenue for the quarter was up 38.0% on a year-over-year basis. Microchip Technology has set its Q2 2027 guidance at 0.910-0.950 EPS. On average, equities analysts predict that Microchip Technology Incorporated will post 3.16 earnings per share for the current fiscal year.

Microchip Technology Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, September 9th. Stockholders of record on Monday, August 24th were paid a $0.455 dividend. The ex-dividend date was Monday, August 24th. This represents a $1.82 dividend on an annualized basis and a dividend yield of 2.6%. Microchip Technology's payout ratio is 271.64%.

Insider Transactions at Microchip Technology

In other Microchip Technology news, CFO James Bjornholt sold 4,112 shares of the business's stock in a transaction dated Tuesday, August 25th. The shares were sold at an average price of $75.32, for a total transaction of $309,715.84. Following the sale, the chief financial officer directly owned 28,573 shares of the company's stock, valued at $2,152,118.36. The trade was a 12.58% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 1.79% of the company's stock.

About Microchip Technology

Microchip Technology Incorporated NASDAQ: MCHP develops and manufactures semiconductor products for embedded control and connected applications. Its portfolio includes microcontrollers, microprocessors, analog and mixed-signal devices, power-management products, timing and connectivity solutions, memory products, field-programmable gate arrays (FPGAs), and security components.

The company also provides development tools, software, reference designs, and technical support that help customers design and integrate embedded systems.

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