Kentucky Retirement Systems Decreases Position in Microchip Technology Incorporated $MCHP

Kentucky Retirement Systems decreased its position in Microchip Technology Incorporated (NASDAQ:MCHP) by 50.6% during the 1st quarter, Holdings Channel reports. The firm owned 16,378 shares of the semiconductor company’s stock after selling 16,757 shares during the quarter. Kentucky Retirement Systems’ holdings in Microchip Technology were worth $1,058,000 at the end of the most recent reporting period.

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

Insiders Place Their Bets

In other news, Director Matthew W. Chapman sold 10,000 shares of the firm’s stock in a transaction on Friday, May 15th. The stock was sold at an average price of $95.48, for a total transaction of $954,800.00. Following the sale, the director owned 20,665 shares in the company, valued at $1,973,094.20. This trade represents a 32.61% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO James Eric Bjornholt sold 3,667 shares of Microchip Technology stock in a transaction on Friday, May 22nd. The shares were sold at an average price of $90.87, for a total value of $333,220.29. Following the completion of the sale, the chief financial officer directly owned 28,573 shares of the company’s stock, valued at approximately $2,596,428.51. This represents a 11.37% 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. Insiders have sold a total of 26,750 shares of company stock valued at $2,543,170 in the last quarter. 1.79% of the stock is currently owned by company insiders.

Microchip Technology Stock Performance

NASDAQ:MCHP opened at $74.29 on Friday. The firm has a 50 day simple moving average of $88.87 and a 200-day simple moving average of $81.15. 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 market cap of $40.34 billion, a PE ratio of 353.78, a P/E/G ratio of 0.75 and a beta of 1.74. Microchip Technology Incorporated has a 1-year low of $48.52 and a 1-year high of $105.91.

Microchip Technology (NASDAQ:MCHP) last announced its quarterly earnings data on Thursday, May 7th. The semiconductor company reported $0.57 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.50 by $0.07. Microchip Technology had a net margin of 4.88% and a return on equity of 10.87%. The business had revenue of $1.31 billion for the quarter, compared to the consensus estimate of $1.26 billion. During the same quarter in the prior year, the firm posted $0.11 earnings per share. The company’s quarterly revenue was up 35.1% compared to the same quarter last year. Microchip Technology has set its Q1 2027 guidance at 0.670-0.710 EPS. On average, equities analysts expect that Microchip Technology Incorporated will post 2.7 EPS for the current year.

Microchip Technology Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, June 5th. Shareholders of record on Friday, May 22nd were paid a dividend of $0.455 per share. This represents a $1.82 dividend on an annualized basis and a dividend yield of 2.4%. The ex-dividend date of this dividend was Friday, May 22nd. Microchip Technology’s dividend payout ratio is currently 866.67%.

Wall Street Analyst Weigh In

MCHP has been the subject of several research reports. Wells Fargo & Company cut their price objective 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. Wall Street Zen upgraded Microchip Technology from a “hold” rating to a “buy” rating in a report on Saturday, May 9th. Truist Financial raised their price target on Microchip Technology from $69.00 to $105.00 and gave the stock a “hold” rating in a research report on Friday, May 8th. Needham & Company LLC boosted their price target on Microchip Technology from $84.00 to $120.00 and gave the stock a “buy” rating in a report on Friday, May 8th. Finally, JPMorgan Chase & Co. upped their price objective on Microchip Technology from $95.00 to $120.00 and gave the company an “overweight” rating in a research report on Friday, May 8th. Four investment analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating and seven have assigned a Hold rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $99.76.

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.