State of New Jersey Common Pension Fund D Purchases 7,719 Shares of Microchip Technology Incorporated $MCHP

State of New Jersey Common Pension Fund D boosted its position in Microchip Technology Incorporated (NASDAQ:MCHP) by 4.3% in the 3rd quarter, according to its most recent filing with the SEC. The fund owned 186,018 shares of the semiconductor company’s stock after purchasing an additional 7,719 shares during the period. State of New Jersey Common Pension Fund D’s holdings in Microchip Technology were worth $11,946,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently bought and sold shares of MCHP. Florida Trust Wealth Management Co lifted its position in shares of Microchip Technology by 3.3% in the third quarter. Florida Trust Wealth Management Co now owns 4,890 shares of the semiconductor company’s stock valued at $314,000 after buying an additional 157 shares during the last quarter. Clean Yield Group increased its holdings in shares of Microchip Technology by 9.4% during the 3rd quarter. Clean Yield Group now owns 1,890 shares of the semiconductor company’s stock worth $121,000 after acquiring an additional 163 shares during the last quarter. Slagle Financial LLC raised its stake in Microchip Technology by 0.3% in the 3rd quarter. Slagle Financial LLC now owns 64,485 shares of the semiconductor company’s stock valued at $4,141,000 after acquiring an additional 168 shares during the period. Global Trust Asset Management LLC lifted its holdings in Microchip Technology by 2.4% during the 3rd quarter. Global Trust Asset Management LLC now owns 7,263 shares of the semiconductor company’s stock valued at $466,000 after purchasing an additional 169 shares during the last quarter. Finally, Bollard Group LLC lifted its holdings in Microchip Technology by 5.8% during the 2nd quarter. Bollard Group LLC now owns 3,178 shares of the semiconductor company’s stock valued at $224,000 after purchasing an additional 173 shares during the last quarter. Institutional investors and hedge funds own 91.51% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have commented on MCHP shares. Rosenblatt Securities upped their price objective on shares of Microchip Technology from $80.00 to $115.00 and gave the company a “buy” rating in a report on Friday, February 6th. BNP Paribas Exane raised shares of Microchip Technology from a “neutral” rating to an “outperform” rating and set a $90.00 target price for the company in a report on Thursday, January 22nd. Zacks Research raised shares of Microchip Technology from a “hold” rating to a “strong-buy” rating in a report on Monday, January 26th. Bank of America upgraded shares of Microchip Technology from a “neutral” rating to a “buy” rating and set a $95.00 price objective for the company in a research report on Wednesday, January 28th. Finally, Morgan Stanley upped their target price on Microchip Technology from $68.00 to $69.00 and gave the company an “equal weight” rating in a research report on Tuesday, January 6th. Four equities research analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating and seven have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $86.00.

Microchip Technology Stock Performance

NASDAQ MCHP opened at $78.56 on Tuesday. The firm has a 50-day moving average price of $71.94 and a two-hundred day moving average price of $65.85. Microchip Technology Incorporated has a 12-month low of $34.13 and a 12-month high of $83.35. The company has a market capitalization of $42.51 billion, a P/E ratio of -270.90, a P/E/G ratio of 1.98 and a beta of 1.46. The company has a quick ratio of 1.16, a current ratio of 2.16 and a debt-to-equity ratio of 0.82.

Microchip Technology (NASDAQ:MCHP) last released its quarterly earnings results on Thursday, February 5th. The semiconductor company reported $0.44 earnings per share for the quarter, beating analysts’ consensus estimates of $0.43 by $0.01. The company had revenue of $1.19 billion during the quarter, compared to the consensus estimate of $1.19 billion. Microchip Technology had a negative net margin of 1.57% and a positive return on equity of 7.16%. The firm’s quarterly revenue was up 15.6% on a year-over-year basis. During the same period in the previous year, the business earned $0.20 earnings per share. Microchip Technology has set its Q4 2026 guidance at 0.480-0.520 EPS. 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 announced a quarterly dividend, which will be paid on Tuesday, March 10th. Stockholders of record on Monday, February 23rd will be given a dividend of $0.455 per share. This represents a $1.82 dividend on an annualized basis and a dividend yield of 2.3%. The ex-dividend date is Monday, February 23rd. Microchip Technology’s dividend payout ratio is presently -627.59%.

Insider Buying and Selling at Microchip Technology

In related news, CEO Steve Sanghi sold 98,814 shares of the business’s stock in a transaction dated Wednesday, January 28th. The stock was sold at an average price of $80.55, for a total value of $7,959,467.70. Following the completion of the transaction, the chief executive officer owned 9,922,319 shares of the company’s stock, valued at $799,242,795.45. The trade was a 0.99% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO James Eric Bjornholt sold 4,292 shares of the company’s stock in a transaction dated Tuesday, November 25th. The stock was sold at an average price of $50.39, for a total transaction of $216,273.88. Following the sale, the chief financial officer directly owned 30,089 shares of the company’s stock, valued at $1,516,184.71. This represents a 12.48% decrease in their position. The SEC filing for this sale provides additional information. Over the last three months, insiders have sold 121,615 shares of company stock worth $9,641,654. 1.94% of the stock is currently owned by insiders.

Microchip Technology Profile

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.