Louisiana State Employees Retirement System Acquires New Holdings in Microchip Technology Incorporated $MCHP

Louisiana State Employees Retirement System bought a new position in shares of Microchip Technology Incorporated (NASDAQ:MCHP) during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 63,100 shares of the semiconductor company’s stock, valued at approximately $4,077,000.

Several other institutional investors and hedge funds have also bought and sold shares of the company. AQR Capital Management LLC grew its position in shares of Microchip Technology by 51.3% during the 1st quarter. AQR Capital Management LLC now owns 17,201 shares of the semiconductor company’s stock valued at $827,000 after purchasing an additional 5,835 shares in the last quarter. Geneos Wealth Management Inc. raised its position in shares of Microchip Technology by 101.8% in the first quarter. Geneos Wealth Management Inc. now owns 1,221 shares of the semiconductor company’s stock worth $59,000 after buying an additional 616 shares in the last quarter. Cresset Asset Management LLC boosted its stake in Microchip Technology by 5.4% during the second quarter. Cresset Asset Management LLC now owns 11,433 shares of the semiconductor company’s stock valued at $805,000 after buying an additional 589 shares during the period. AXA S.A. boosted its stake in Microchip Technology by 21.3% during the second quarter. AXA S.A. now owns 51,552 shares of the semiconductor company’s stock valued at $3,628,000 after buying an additional 9,043 shares during the period. Finally, Treasurer of the State of North Carolina grew its position in Microchip Technology by 1.6% during the second quarter. Treasurer of the State of North Carolina now owns 246,530 shares of the semiconductor company’s stock worth $17,348,000 after buying an additional 3,851 shares in the last quarter. 91.51% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Microchip Technology

In other news, COO Richard J. Simoncic sold 5,000 shares of the company’s stock in a transaction 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 owned 130,508 shares of the company’s stock, valued at approximately $12,727,140.16. This represents a 3.69% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Steve Sanghi sold 416,581 shares of the stock in a transaction on Thursday, April 23rd. The shares were sold at an average price of $88.53, for a total transaction of $36,879,915.93. Following the transaction, the chief executive officer directly owned 9,495,805 shares in the company, valued at approximately $840,663,616.65. This represents a 4.20% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders sold 553,302 shares of company stock valued at $49,673,635. 1.94% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on the company. Susquehanna raised their price target on Microchip Technology from $95.00 to $120.00 and gave the company a “positive” rating in a report on Friday, May 8th. UBS Group reissued a “buy” rating on shares of Microchip Technology in a report on Tuesday, June 2nd. Zacks Research upgraded shares of Microchip Technology from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, May 12th. Needham & Company LLC raised their target price on shares of Microchip Technology from $84.00 to $120.00 and gave the company a “buy” rating in a research note on Friday, May 8th. Finally, Truist Financial lifted their target price on shares of Microchip Technology from $69.00 to $105.00 and gave the company a “hold” rating in a research report on Friday, May 8th. Four equities research analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating and seven have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $98.18.

Microchip Technology Trading Down 6.6%

Shares of MCHP stock opened at $87.93 on Friday. The business has a 50-day moving average price of $93.01 and a two-hundred day moving average price of $78.37. Microchip Technology Incorporated has a 12-month low of $48.52 and a 12-month high of $105.91. The company has a quick ratio of 1.18, a current ratio of 2.09 and a debt-to-equity ratio of 0.85. The firm has a market cap of $47.67 billion, a P/E ratio of 418.73, a price-to-earnings-growth ratio of 0.96 and a beta of 1.73.

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

Microchip Technology Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, June 5th. Shareholders of record on Friday, May 22nd were given a dividend of $0.455 per share. This represents a $1.82 dividend on an annualized basis and a yield of 2.1%. The ex-dividend date was Friday, May 22nd. Microchip Technology’s dividend payout ratio (DPR) is presently 866.67%.

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.