Microchip Technology Incorporated $MCHP Stake Boosted by Public Sector Pension Investment Board

Public Sector Pension Investment Board increased its position in Microchip Technology Incorporated (NASDAQ:MCHP - Free Report) by 7.3% in the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 83,364 shares of the semiconductor company's stock after purchasing an additional 5,655 shares during the period. Public Sector Pension Investment Board's holdings in Microchip Technology were worth $4,036,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. Garde Capital Inc. acquired a new position in Microchip Technology in the first quarter worth about $30,000. Orion Capital Management LLC acquired a new position in Microchip Technology in the fourth quarter worth about $41,000. Byrne Asset Management LLC bought a new stake in Microchip Technology during the first quarter worth approximately $41,000. GW&K Investment Management LLC raised its holdings in Microchip Technology by 161.0% during the first quarter. GW&K Investment Management LLC now owns 937 shares of the semiconductor company's stock worth $45,000 after purchasing an additional 578 shares in the last quarter. Finally, American National Bank & Trust bought a new stake in Microchip Technology during the first quarter worth approximately $48,000. 91.51% of the stock is currently owned by institutional investors and hedge funds.

Microchip Technology Stock Down 0.9%

NASDAQ:MCHP traded down $0.5850 during trading hours on Thursday, hitting $66.1750. 3,361,768 shares of the stock traded hands, compared to its average volume of 10,394,328. The firm has a 50 day moving average price of $69.54 and a 200 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. Microchip Technology Incorporated has a fifty-two week low of $34.13 and a fifty-two week high of $82.65. The firm has a market cap of $35.71 billion, a price-to-earnings ratio of -194.62, a PEG ratio of 1.87 and a beta of 1.55.

Microchip Technology (NASDAQ:MCHP - Get Free Report) last announced its earnings results on Thursday, August 7th. The semiconductor company reported $0.27 earnings per share (EPS) for the quarter, beating 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 company had revenue of $1.08 billion for the quarter, compared to the consensus estimate of $1.05 billion. During the same period in the previous year, the business earned $0.53 EPS. The company's 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. Equities 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 declared a quarterly dividend, which will be paid on Friday, September 5th. Stockholders of record on Friday, August 22nd will be issued a dividend of $0.455 per share. This represents a $1.82 annualized dividend and a dividend yield of 2.8%. The ex-dividend date is Friday, August 22nd. Microchip Technology's payout ratio is currently -535.29%.

Insider Activity at Microchip Technology

In other news, CFO James Eric Bjornholt sold 2,015 shares of the business's stock in a transaction on Friday, May 23rd. The shares were sold at an average price of $55.78, for a total transaction of $112,396.70. Following the transaction, the chief financial officer directly owned 34,313 shares in the company, valued at $1,913,979.14. The trade was a 5.55% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 1.94% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several brokerages recently commented on MCHP. Piper Sandler boosted their target price on Microchip Technology from $65.00 to $80.00 and gave the stock an "overweight" rating in a report on Friday, August 8th. Needham & Company LLC boosted their target price on Microchip Technology from $66.00 to $77.00 and gave the stock a "buy" rating in a report on Friday, August 8th. Rosenblatt Securities boosted their target price on Microchip Technology from $63.00 to $70.00 and gave the stock a "buy" rating in a report on Friday, May 30th. Zacks Research cut Microchip Technology from a "strong-buy" rating to a "hold" rating in a report on Monday. Finally, Susquehanna boosted their target price on Microchip Technology from $60.00 to $90.00 and gave the stock a "positive" rating in a report on Tuesday, July 22nd. One analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and six have issued a Hold rating to the stock. According to data from MarketBeat.com, Microchip Technology presently 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.