California State Teachers Retirement System Boosts Stake in Microchip Technology Incorporated $MCHP

California State Teachers Retirement System lifted its stake in shares of Microchip Technology Incorporated (NASDAQ:MCHP) by 9,307.4% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 74,723,990 shares of the semiconductor company’s stock after buying an additional 73,929,678 shares during the period. California State Teachers Retirement System owned approximately 0.14% of Microchip Technology worth $6,814,828,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. TOP Private Wealth LLC. purchased a new position in Microchip Technology in the 2nd quarter worth $29,000. EFG International AG purchased a new stake in Microchip Technology during the 4th quarter valued at about $29,000. Miller Capital Partners Inc. purchased a new stake in Microchip Technology during the 4th quarter valued at about $29,000. Continuum Advisory LLC acquired a new position in shares of Microchip Technology in the second quarter valued at about $30,000. Finally, Johnson Financial Group Inc. acquired a new position in shares of Microchip Technology in the second quarter valued at about $31,000. 91.51% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Microchip Technology

In other news, CFO James Bjornholt sold 4,112 shares of Microchip Technology stock in a transaction that occurred on Tuesday, August 25th. The shares were sold at an average price of $75.32, for a total transaction of $309,715.84. Following the completion of the transaction, the chief financial officer directly owned 28,573 shares of the company’s stock, valued at $2,152,118.36. The trade was a 12.58% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 1.79% of the stock is owned by insiders.

Analysts Set New Price Targets

MCHP has been the subject of a number of research reports. Zacks Research downgraded Microchip Technology from a “strong-buy” rating to a “hold” rating in a report on Monday, August 17th. Wells Fargo & Company cut their price target on shares of Microchip Technology from $95.00 to $88.00 and set an “equal weight” rating on the stock in a report on Monday, July 20th. Cantor Fitzgerald restated an “overweight” rating on shares of Microchip Technology in a research note on Wednesday. Citigroup decreased their price objective on shares of Microchip Technology from $113.00 to $95.00 and set a “buy” rating for the company in a research note on Friday, August 7th. Finally, UBS Group reaffirmed a “buy” rating and issued a $120.00 price objective (down from $130.00) on shares of Microchip Technology in a report on Friday, August 7th. Three research 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 data from MarketBeat, Microchip Technology currently has an average rating of “Moderate Buy” and an average target price of $98.67.

Microchip Technology Stock Performance

Shares of MCHP stock opened at $73.01 on Thursday. Microchip Technology Incorporated has a 52-week low of $48.52 and a 52-week high of $105.91. 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 stock has a market cap of $39.65 billion, a PE ratio of 108.97, a price-to-earnings-growth ratio of 0.51 and a beta of 1.75. The business has a 50-day simple moving average of $78.83 and a 200-day simple moving average of $81.11.

Microchip Technology (NASDAQ:MCHP) last posted its earnings results on Thursday, August 6th. The semiconductor company reported $0.76 EPS for the quarter, topping the consensus estimate of $0.70 by $0.06. The firm had revenue of $1.48 billion for the quarter, compared to analyst estimates of $1.46 billion. Microchip Technology had a return on equity of 14.97% and a net margin of 9.34%.Microchip Technology’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 earnings per share. Microchip Technology has set its Q2 2027 guidance at 0.910-0.950 EPS. On average, equities analysts expect that Microchip Technology Incorporated will post 3.16 EPS for the current year.

Microchip Technology Dividend Announcement

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

Microchip Technology Company Profile

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.