Microchip Technology Incorporated $MCHP Shares Sold by Fjarde AP Fonden Fourth Swedish National Pension Fund

Key Points

• The Fjarde AP Fonden Fourth Swedish National Pension Fund has reduced its stake in Microchip Technology by 45.2%, bringing its total shares to 59,153, valued at approximately $2.86 million.
• Microchip Technology's stock has seen a series of analyst upgrades, with price targets raised by firms such as KeyCorp and Mizuho, indicating a general consensus of a "Moderate Buy" rating.
• The company has announced a quarterly dividend of $0.455 per share, with a payment date set for September 5th, reflecting an annualized yield of 2.8%.

Fjarde AP Fonden Fourth Swedish National Pension Fund reduced its position in shares of Microchip Technology Incorporated (NASDAQ:MCHP - Free Report) by 45.2% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 59,153 shares of the semiconductor company's stock after selling 48,780 shares during the period. Fjarde AP Fonden Fourth Swedish National Pension Fund's holdings in Microchip Technology were worth $2,864,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in MCHP. Boston Partners lifted its holdings in Microchip Technology by 35.3% in the first quarter. Boston Partners now owns 10,726,413 shares of the semiconductor company's stock valued at $517,082,000 after acquiring an additional 2,795,650 shares during the period. E Fund Management Co. Ltd. increased its holdings in shares of Microchip Technology by 41.7% in the 1st quarter. E Fund Management Co. Ltd. now owns 24,642 shares of the semiconductor company's stock valued at $1,193,000 after purchasing an additional 7,254 shares in the last quarter. Tokio Marine Asset Management Co. Ltd. lifted its stake in shares of Microchip Technology by 18.5% in the first quarter. Tokio Marine Asset Management Co. Ltd. now owns 16,259 shares of the semiconductor company's stock valued at $787,000 after purchasing an additional 2,542 shares during the period. Caitong International Asset Management Co. Ltd lifted its stake in shares of Microchip Technology by 19.7% in the first quarter. Caitong International Asset Management Co. Ltd now owns 1,887 shares of the semiconductor company's stock valued at $91,000 after purchasing an additional 310 shares during the period. Finally, National Pension Service boosted its holdings in Microchip Technology by 3.2% during the first quarter. National Pension Service now owns 797,862 shares of the semiconductor company's stock worth $38,624,000 after buying an additional 24,466 shares in the last quarter. Institutional investors and hedge funds own 91.51% of the company's stock.

Microchip Technology Trading Down 1.0%

MCHP traded down $0.6780 during midday trading on Thursday, hitting $66.0820. The company's stock had a trading volume of 3,540,363 shares, compared to its average volume of 10,395,412. Microchip Technology Incorporated has a 52-week low of $34.13 and a 52-week high of $82.65. The firm has a 50-day moving average price of $69.54 and a two-hundred day moving average price of $58.56. The company has a current ratio of 2.31, a quick ratio of 1.33 and a debt-to-equity ratio of 0.80. The firm has a market cap of $35.66 billion, a P/E ratio of -194.51, a PEG ratio of 1.87 and a beta of 1.55.

Microchip Technology (NASDAQ:MCHP - Get Free Report) last released its earnings results on Thursday, August 7th. The semiconductor company reported $0.27 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.24 by $0.03. Microchip Technology had a negative net margin of 3.50% and a positive return on equity of 6.24%. The business had revenue of $1.08 billion for the quarter, compared to analysts' expectations of $1.05 billion. During the same period last year, the company earned $0.53 earnings per share. The company's quarterly revenue was down 13.3% on a year-over-year basis. Microchip Technology has set its Q2 2026 guidance at 0.340-0.370 EPS. On average, research analysts anticipate that Microchip Technology Incorporated will post 1.03 earnings per share for the current year.

Microchip Technology Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 5th. Shareholders of record on Friday, August 22nd will be paid a dividend of $0.455 per share. This represents a $1.82 dividend on an annualized basis and a dividend yield of 2.8%. The ex-dividend date is Friday, August 22nd. Microchip Technology's payout ratio is currently -535.29%.

Analysts Set New Price Targets

MCHP has been the subject of a number of research analyst reports. TD Cowen reduced their price target on shares of Microchip Technology from $75.00 to $60.00 and set a "hold" rating for the company in a research report on Friday, August 8th. Bank of America raised Microchip Technology from an "underperform" rating to a "neutral" rating and set a $56.00 price objective for the company in a research note on Friday, May 9th. Mizuho boosted their target price on Microchip Technology from $78.00 to $85.00 and gave the stock an "outperform" rating in a research report on Tuesday, July 8th. Piper Sandler raised their price target on Microchip Technology from $65.00 to $80.00 and gave the company an "overweight" rating in a research report on Friday, August 8th. Finally, B. Riley lifted their price target on Microchip Technology from $60.00 to $75.00 and gave the stock a "buy" rating in a research note on Friday, May 9th. One investment analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and six have assigned a Hold rating to the company. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $76.58.

Insider Activity at Microchip Technology

In other news, CFO James Eric Bjornholt sold 2,015 shares of the company's stock in a transaction on Friday, May 23rd. The shares were sold at an average price of $55.78, for a total value of $112,396.70. Following the completion of the transaction, the chief financial officer directly owned 34,313 shares in the company, valued at approximately $1,913,979.14. This represents a 5.55% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 1.94% of the stock is currently owned by corporate insiders.

About Microchip Technology

Microchip Technology Incorporated engages in the development, manufacture, and sale of smart, connected, and secure embedded control solutions in the Americas, Europe, and Asia. The company offers general purpose 8-bit, 16-bit, and 32-bit mixed-signal microcontrollers; 32-bit embedded mixed-signal microprocessors; and specialized microcontrollers for automotive, industrial, computing, communications, lighting, power supplies, motor control, human machine interface, security, wired connectivity, and wireless connectivity applications.