Teachers Retirement System of The State of Kentucky Buys 152,100 Shares of Microchip Technology Incorporated $MCHP

Teachers Retirement System of The State of Kentucky increased its stake in Microchip Technology Incorporated (NASDAQ:MCHP) by 361.6% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 194,158 shares of the semiconductor company’s stock after buying an additional 152,100 shares during the period. Teachers Retirement System of The State of Kentucky’s holdings in Microchip Technology were worth $12,544,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in MCHP. EFG International AG purchased a new stake in Microchip Technology in the 4th quarter valued at about $29,000. Miller Capital Partners Inc. purchased a new position in Microchip Technology during the 4th quarter worth $29,000. Reflection Asset Management bought a new stake in shares of Microchip Technology in the fourth quarter valued at about $33,000. Garton & Associates Financial Advisors LLC bought a new position in Microchip Technology in the fourth quarter worth approximately $33,000. Finally, Caitong International Asset Management Co. Ltd raised its position in shares of Microchip Technology by 4,663.6% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 524 shares of the semiconductor company’s stock worth $33,000 after acquiring an additional 513 shares in the last quarter. Institutional investors own 91.51% of the company’s stock.

Insider Activity at Microchip Technology

In other Microchip Technology news, CFO James Eric Bjornholt sold 3,667 shares of the stock in a transaction that occurred on Friday, May 22nd. The stock was sold at an average price of $90.87, for a total transaction of $333,220.29. Following the completion of the transaction, the chief financial officer owned 28,573 shares of the company’s stock, valued at $2,596,428.51. This represents a 11.37% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Steve Sanghi sold 416,581 shares of the business’s stock in a transaction that occurred on Thursday, April 23rd. The stock was sold at an average price of $88.53, for a total value of $36,879,915.93. Following the sale, the chief executive officer owned 9,495,805 shares of the company’s stock, valued at $840,663,616.65. The trade was a 4.20% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders sold 553,302 shares of company stock valued at $49,673,635. 1.79% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

MCHP has been the subject of several analyst reports. Needham & Company LLC increased their price objective on Microchip Technology from $84.00 to $120.00 and gave the company a “buy” rating in a report on Friday, May 8th. Susquehanna boosted their target price on shares of Microchip Technology from $95.00 to $120.00 and gave the stock a “positive” rating in a research report on Friday, May 8th. Weiss Ratings upgraded shares of Microchip Technology from a “hold (c-)” rating to a “hold (c)” rating in a research note on Thursday, June 4th. Wall Street Zen raised shares of Microchip Technology from a “hold” rating to a “buy” rating in a report on Saturday, May 9th. Finally, Barclays lifted their price objective on shares of Microchip Technology from $80.00 to $105.00 and gave the stock an “equal weight” rating in a research note on Monday, May 11th. Four research analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and seven have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, Microchip Technology currently has an average rating of “Moderate Buy” and a consensus price target of $100.10.

Microchip Technology Stock Performance

MCHP opened at $84.23 on Tuesday. The company has a debt-to-equity ratio of 0.85, a current ratio of 2.09 and a quick ratio of 1.18. The firm has a fifty day moving average price of $93.47 and a 200 day moving average price of $80.05. Microchip Technology Incorporated has a 1 year low of $48.52 and a 1 year high of $105.91. The stock has a market cap of $45.74 billion, a P/E ratio of 401.11, a P/E/G ratio of 0.91 and a beta of 1.74.

Microchip Technology (NASDAQ:MCHP) last posted its earnings results on Thursday, May 7th. The semiconductor company reported $0.57 EPS for the quarter, beating analysts’ consensus estimates of $0.50 by $0.07. The firm had revenue of $1.31 billion for the quarter, compared to analysts’ expectations of $1.26 billion. Microchip Technology had a return on equity of 10.87% and a net margin of 4.88%.The company’s quarterly revenue was up 35.1% on a year-over-year basis. During the same period last year, the firm earned $0.11 EPS. Microchip Technology has set its Q1 2027 guidance at 0.670-0.710 EPS. Equities research analysts anticipate that Microchip Technology Incorporated will post 2.66 earnings per share for the current year.

Microchip Technology Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, June 5th. Investors of record on Friday, May 22nd were given a dividend of $0.455 per share. This represents a $1.82 annualized dividend and a dividend yield of 2.2%. The ex-dividend date was Friday, May 22nd. Microchip Technology’s dividend payout ratio is 866.67%.

About Microchip Technology

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.