California Public Employees Retirement System Sells 457,172 Shares of Microchip Technology Incorporated $MCHP

California Public Employees Retirement System cut its holdings in Microchip Technology Incorporated (NASDAQ:MCHP) by 14.9% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 2,606,181 shares of the semiconductor company’s stock after selling 457,172 shares during the quarter. California Public Employees Retirement System owned approximately 0.48% of Microchip Technology worth $183,397,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Vanguard Group Inc. boosted its stake in shares of Microchip Technology by 1.8% during the second quarter. Vanguard Group Inc. now owns 70,568,004 shares of the semiconductor company’s stock valued at $4,965,870,000 after purchasing an additional 1,265,390 shares in the last quarter. Invesco Ltd. lifted its holdings in Microchip Technology by 10.4% during the second quarter. Invesco Ltd. now owns 18,452,546 shares of the semiconductor company’s stock worth $1,298,506,000 after buying an additional 1,745,515 shares during the period. T. Rowe Price Investment Management Inc. boosted its position in Microchip Technology by 0.9% during the 1st quarter. T. Rowe Price Investment Management Inc. now owns 16,630,574 shares of the semiconductor company’s stock valued at $805,087,000 after acquiring an additional 152,434 shares in the last quarter. Geode Capital Management LLC boosted its position in Microchip Technology by 2.4% during the 2nd quarter. Geode Capital Management LLC now owns 14,842,341 shares of the semiconductor company’s stock valued at $1,040,544,000 after acquiring an additional 343,210 shares in the last quarter. Finally, Boston Partners increased its holdings in shares of Microchip Technology by 38.2% in the 2nd quarter. Boston Partners now owns 14,827,447 shares of the semiconductor company’s stock valued at $1,041,868,000 after acquiring an additional 4,101,034 shares during the period. Hedge funds and other institutional investors own 91.51% of the company’s stock.

Wall Street Analyst Weigh In

MCHP has been the subject of a number of analyst reports. Needham & Company LLC upped their price objective on Microchip Technology from $73.00 to $75.00 and gave the stock a “buy” rating in a research note on Thursday. Rosenblatt Securities reiterated a “buy” rating and issued a $80.00 target price on shares of Microchip Technology in a report on Wednesday, December 3rd. Zacks Research lowered shares of Microchip Technology from a “strong-buy” rating to a “hold” rating in a research report on Monday, August 18th. Truist Financial reaffirmed a “hold” rating and issued a $60.00 price objective (down previously from $64.00) on shares of Microchip Technology in a research report on Friday, November 7th. Finally, Weiss Ratings reiterated a “sell (d+)” rating on shares of Microchip Technology in a research note on Wednesday, October 8th. One analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating, seven have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $74.95.

Insiders Place Their Bets

In related news, CFO James Eric Bjornholt sold 4,292 shares of the company’s stock in a transaction that occurred on Tuesday, November 25th. The stock was sold at an average price of $50.39, for a total value of $216,273.88. Following the sale, the chief financial officer owned 30,089 shares in the company, valued at $1,516,184.71. This represents a 12.48% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 1.94% of the company’s stock.

Microchip Technology Stock Up 1.7%

MCHP stock opened at $65.81 on Monday. The company has a quick ratio of 1.20, a current ratio of 2.25 and a debt-to-equity ratio of 0.80. Microchip Technology Incorporated has a 52 week low of $34.13 and a 52 week high of $77.20. The stock has a market capitalization of $35.57 billion, a PE ratio of -146.24, a price-to-earnings-growth ratio of 2.28 and a beta of 1.48. The firm has a 50 day moving average of $60.15 and a 200 day moving average of $64.63.

Microchip Technology (NASDAQ:MCHP) last posted its quarterly earnings data on Thursday, November 6th. The semiconductor company reported $0.35 EPS for the quarter, topping the consensus estimate of $0.33 by $0.02. The business had revenue of $1.14 billion during the quarter, compared to the consensus estimate of $1.13 billion. Microchip Technology had a negative net margin of 4.39% and a positive return on equity of 5.21%. The business’s revenue for the quarter was down 2.0% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.46 earnings per share. Microchip Technology has set its Q3 2026 guidance at 0.340-0.400 EPS. Sell-side analysts forecast that Microchip Technology Incorporated will post 1.03 earnings per share for the current year.

Microchip Technology Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 9th. Shareholders of record on Monday, November 24th will be paid a dividend of $0.455 per share. This represents a $1.82 annualized dividend and a yield of 2.8%. The ex-dividend date is Monday, November 24th. Microchip Technology’s payout ratio is presently -404.44%.

About Microchip Technology

Microchip Technology Incorporated engages in the development, manufacture, and sale of smart, connected, and secure embedded control solutions in the Americas, Europe, and Asia. The company offers general purpose 8-bit, 16-bit, and 32-bit mixed-signal microcontrollers; 32-bit embedded mixed-signal microprocessors; and specialized microcontrollers for automotive, industrial, computing, communications, lighting, power supplies, motor control, human machine interface, security, wired connectivity, and wireless connectivity applications.