Public Employees Retirement System of Ohio Makes New $20.93 Million Investment in Microchip Technology Incorporated $MCHP

Public Employees Retirement System of Ohio purchased a new stake in Microchip Technology Incorporated (NASDAQ:MCHP) in the second quarter, Holdings Channel.com reports. The fund purchased 229,526 shares of the semiconductor company’s stock, valued at approximately $20,933,000.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. EFG International AG purchased a new stake in Microchip Technology during the fourth quarter worth about $29,000. Miller Capital Partners Inc. acquired a new stake in shares of Microchip Technology during the 4th quarter valued at approximately $29,000. Continuum Advisory LLC acquired a new stake in shares of Microchip Technology during the 2nd quarter valued at approximately $30,000. Johnson Financial Group Inc. acquired a new stake in shares of Microchip Technology during the 2nd quarter valued at approximately $31,000. Finally, Reflection Asset Management purchased a new stake in shares of Microchip Technology during the 4th quarter worth approximately $33,000. Institutional investors and hedge funds own 91.51% of the company’s stock.

Microchip Technology Trading Down 3.4%

Microchip Technology stock opened at $72.93 on Friday. The stock has a 50-day moving average price of $81.90 and a 200 day moving average price of $81.37. Microchip Technology Incorporated has a 52 week low of $48.52 and a 52 week high of $105.91. The stock has a market cap of $39.60 billion, a PE ratio of 108.85, a P/E/G ratio of 0.51 and a beta of 1.76. The company has a current ratio of 1.92, a quick ratio of 1.11 and a debt-to-equity ratio of 0.83.

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

Microchip Technology Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 9th. Investors of record on Monday, August 24th will be given a dividend of $0.455 per share. The ex-dividend date is Monday, August 24th. This represents a $1.82 dividend on an annualized basis and a yield of 2.5%. Microchip Technology’s dividend payout ratio (DPR) is 271.64%.

Insider Activity at Microchip Technology

In other Microchip Technology news, COO Richard J. Simoncic sold 5,000 shares of Microchip Technology stock in a transaction that occurred on Thursday, June 4th. The shares were sold at an average price of $97.52, for a total value of $487,600.00. Following the completion of the sale, the chief operating officer directly owned 130,508 shares of the company’s stock, valued at approximately $12,727,140.16. The trade was a 3.69% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO James Eric Bjornholt sold 4,112 shares of the business’s 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 completion of the transaction, the chief financial officer owned 28,573 shares of the company’s stock, valued at $2,152,118.36. This trade represents a 12.58% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 9,949 shares of company stock valued at $864,493 over the last ninety days. 1.79% of the stock is owned by corporate insiders.

Analyst Ratings Changes

MCHP has been the subject of several research analyst reports. Wall Street Zen raised Microchip Technology from a “hold” rating to a “buy” rating in a research note on Saturday, May 9th. Weiss Ratings raised Microchip Technology from a “hold (c-)” rating to a “hold (c)” rating in a report on Tuesday, August 11th. Wells Fargo & Company dropped their price target on Microchip Technology from $95.00 to $88.00 and set an “equal weight” rating for the company in a research report on Monday, July 20th. Truist Financial cut their price target on Microchip Technology from $105.00 to $90.00 and set a “hold” rating for the company in a research note on Friday, August 7th. Finally, Cantor Fitzgerald restated an “overweight” rating and set a $125.00 target price on shares of Microchip Technology in a report on Monday, August 17th. Three analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and eight have assigned a Hold rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $98.67.

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.