Microchip Technology Incorporated $MCHP Shares Sold by State of New Jersey Common Pension Fund D

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State of New Jersey Common Pension Fund D reduced its holdings in shares of Microchip Technology Incorporated (NASDAQ:MCHP - Free Report) by 4.3% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 178,299 shares of the semiconductor company's stock after selling 7,951 shares during the quarter. State of New Jersey Common Pension Fund D's holdings in Microchip Technology were worth $8,631,000 at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in MCHP. Garde Capital Inc. acquired a new position in Microchip Technology during the 1st quarter worth approximately $30,000. Orion Capital Management LLC purchased a new stake in shares of Microchip Technology during the fourth quarter valued at approximately $41,000. Byrne Asset Management LLC purchased a new position in shares of Microchip Technology in the first quarter valued at $41,000. GW&K Investment Management LLC boosted its stake in shares of Microchip Technology by 161.0% in the first quarter. GW&K Investment Management LLC now owns 937 shares of the semiconductor company's stock valued at $45,000 after purchasing an additional 578 shares during the period. Finally, American National Bank & Trust acquired a new stake in Microchip Technology during the 1st quarter valued at $48,000. Institutional investors and hedge funds own 91.51% of the company's stock.

Microchip Technology Stock Down 1.0%

NASDAQ:MCHP traded down $0.66 during mid-day trading on Thursday, reaching $66.10. The stock had a trading volume of 5,931,054 shares, compared to its average volume of 10,411,636. The company has a market capitalization of $35.67 billion, a price-to-earnings ratio of -194.41, a price-to-earnings-growth ratio of 1.87 and a beta of 1.55. Microchip Technology Incorporated has a 1-year low of $34.13 and a 1-year high of $82.65. The stock's 50 day simple moving average is $69.54 and its two-hundred day simple moving average is $58.56. The company has a debt-to-equity ratio of 0.80, a current ratio of 2.31 and a quick ratio of 1.33.

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

Microchip Technology Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, September 5th. Investors of record on Friday, August 22nd will be paid a $0.455 dividend. This represents a $1.82 dividend on an annualized basis and a yield of 2.8%. The ex-dividend date is Friday, August 22nd. Microchip Technology's dividend payout ratio (DPR) is -535.29%.

Insider Buying and Selling

In related news, CFO James Eric Bjornholt sold 2,015 shares of Microchip Technology stock in a transaction dated Friday, May 23rd. The stock was 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 trade represents a 5.55% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 1.94% of the company's stock.

Analyst Ratings Changes

A number of research firms recently weighed in on MCHP. Raymond James Financial raised their price target on shares of Microchip Technology from $65.00 to $75.00 and gave the company a "strong-buy" rating in a report on Friday, August 8th. Mizuho lifted 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. KeyCorp lifted their target price on Microchip Technology from $70.00 to $85.00 and gave the stock an "overweight" rating in a research report on Tuesday, July 8th. Piper Sandler lifted their target price on Microchip Technology from $65.00 to $80.00 and gave the stock an "overweight" rating in a research report on Friday, August 8th. Finally, Citigroup lifted their target price on Microchip Technology from $68.00 to $90.00 and gave the stock a "buy" rating in a research report on Monday, July 7th. One research analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and six have given a Hold rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $76.58.

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.