National Pension Service Sells 32,842 Shares of Microchip Technology Incorporated $MCHP

National Pension Service decreased its holdings in Microchip Technology Incorporated (NASDAQ:MCHP) by 3.6% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 891,837 shares of the semiconductor company’s stock after selling 32,842 shares during the period. National Pension Service owned 0.16% of Microchip Technology worth $81,336,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. TOP Private Wealth LLC. purchased a new position in Microchip Technology in the 2nd quarter valued at approximately $29,000. Continuum Advisory LLC purchased a new stake in shares of Microchip Technology during the second quarter worth $30,000. Johnson Financial Group Inc. bought a new position in shares of Microchip Technology in the second quarter worth $31,000. Rakuten Securities Inc. bought a new position in shares of Microchip Technology in the second quarter worth $34,000. Finally, PenderFund Capital Management Ltd. purchased a new position in shares of Microchip Technology in the second quarter valued at $36,000. Institutional investors own 91.51% of the company’s stock.

Analyst Ratings Changes

MCHP has been the topic of a number of analyst reports. BMO Capital Markets began coverage on Microchip Technology in a research note on Friday, August 21st. They set an “outperform” rating and a $95.00 price objective on the stock. Wells Fargo & Company reduced their target price on Microchip Technology from $95.00 to $88.00 and set an “equal weight” rating for the company in a report on Monday, July 20th. UBS Group reiterated a “buy” rating and set a $120.00 price target (down from $130.00) on shares of Microchip Technology in a research report on Friday, August 7th. Rosenblatt Securities reissued a “buy” rating and issued a $120.00 price target on shares of Microchip Technology in a report on Friday, August 7th. Finally, Zacks Research lowered shares of Microchip Technology from a “strong-buy” rating to a “hold” rating in a research report on Monday, August 17th. Three analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating and eight have assigned a Hold rating to the company’s stock. According to data from MarketBeat, Microchip Technology has an average rating of “Moderate Buy” and a consensus target price of $98.67.

Microchip Technology Price Performance

Microchip Technology stock opened at $74.20 on Friday. The stock has a market cap of $40.29 billion, a price-to-earnings ratio of 110.75, a PEG ratio of 0.50 and a beta of 1.75. The company has a quick ratio of 1.11, a current ratio of 1.92 and a debt-to-equity ratio of 0.83. The business has a 50-day simple moving average of $78.36 and a 200 day simple moving average of $81.02. Microchip Technology Incorporated has a 52 week low of $48.52 and a 52 week high of $105.91.

Microchip Technology (NASDAQ:MCHP) last issued its quarterly earnings results on Thursday, August 6th. The semiconductor company reported $0.76 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.70 by $0.06. The firm had revenue of $1.48 billion during the quarter, compared to the consensus estimate of $1.46 billion. Microchip Technology had a return on equity of 14.97% and a net margin of 9.34%.The company’s revenue for the quarter was up 38.0% on a year-over-year basis. During the same quarter last year, the company posted $0.27 EPS. Microchip Technology has set its Q2 2027 guidance at 0.910-0.950 EPS. On average, research analysts forecast that Microchip Technology Incorporated will post 3.16 earnings per share for the current fiscal year.

Microchip Technology Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, September 9th. Shareholders of record on Monday, August 24th were paid a $0.455 dividend. This represents a $1.82 dividend on an annualized basis and a yield of 2.5%. The ex-dividend date of this dividend was Monday, August 24th. Microchip Technology’s payout ratio is currently 271.64%.

Insider Buying and Selling

In other news, CFO James Bjornholt sold 4,112 shares of the stock in a transaction on Tuesday, August 25th. The shares were sold at an average price of $75.32, for a total value of $309,715.84. Following the transaction, the chief financial officer owned 28,573 shares of the company’s stock, valued at $2,152,118.36. This represents a 12.58% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 1.79% of the stock is currently owned by corporate insiders.

About Microchip Technology

Microchip Technology Incorporated (NASDAQ: MCHP) develops and manufactures semiconductor products for embedded control and connected applications. Its portfolio includes microcontrollers, microprocessors, analog and mixed-signal devices, power-management products, timing and connectivity solutions, memory products, field-programmable gate arrays (FPGAs), and security components.

The company also provides development tools, software, reference designs, and technical support that help customers design and integrate embedded systems.