California Public Employees Retirement System Has $148.97 Million Stock Holdings in Microchip Technology Incorporated $MCHP

California Public Employees Retirement System trimmed its holdings in Microchip Technology Incorporated (NASDAQ:MCHP) by 11.0% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 2,319,686 shares of the semiconductor company’s stock after selling 286,495 shares during the quarter. California Public Employees Retirement System owned about 0.43% of Microchip Technology worth $148,970,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in MCHP. AQR Capital Management LLC lifted its position in shares of Microchip Technology by 51.3% during the first quarter. AQR Capital Management LLC now owns 17,201 shares of the semiconductor company’s stock worth $827,000 after purchasing an additional 5,835 shares in the last quarter. Geneos Wealth Management Inc. increased its holdings 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 valued at $59,000 after purchasing an additional 616 shares in the last quarter. Allworth Financial LP increased its holdings in shares of Microchip Technology by 41.8% in the second quarter. Allworth Financial LP now owns 7,821 shares of the semiconductor company’s stock valued at $550,000 after purchasing an additional 2,307 shares in the last quarter. Mitsubishi UFJ Trust & Banking Corp raised its position in Microchip Technology by 2.3% in the 2nd quarter. Mitsubishi UFJ Trust & Banking Corp now owns 236,391 shares of the semiconductor company’s stock worth $16,635,000 after purchasing an additional 5,261 shares during the last quarter. Finally, PNC Financial Services Group Inc. raised its position in Microchip Technology by 39.0% in the 2nd quarter. PNC Financial Services Group Inc. now owns 184,421 shares of the semiconductor company’s stock worth $12,978,000 after purchasing an additional 51,724 shares during the last quarter. Institutional investors and hedge funds own 91.51% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on MCHP shares. BNP Paribas Exane upgraded Microchip Technology from a “neutral” rating to an “outperform” rating and set a $90.00 price objective on the stock in a research report on Thursday, January 22nd. Wolfe Research set a $85.00 target price on Microchip Technology in a research report on Tuesday, January 6th. Barclays initiated coverage on Microchip Technology in a research report on Thursday, February 12th. They set an “equal weight” rating and a $80.00 target price for the company. Truist Financial raised their price target on Microchip Technology from $60.00 to $68.00 and gave the company a “hold” rating in a report on Friday, February 6th. Finally, Weiss Ratings upgraded Microchip Technology from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Friday, February 6th. Three equities research analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating and eight have given a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $86.00.

Microchip Technology Price Performance

MCHP opened at $61.94 on Monday. The company has a fifty day moving average price of $74.21 and a two-hundred day moving average price of $66.61. The firm has a market capitalization of $33.52 billion, a PE ratio of -213.59, a P/E/G ratio of 1.56 and a beta of 1.45. Microchip Technology Incorporated has a 52 week low of $34.13 and a 52 week high of $83.35. The company has a debt-to-equity ratio of 0.82, a quick ratio of 1.16 and a current ratio of 2.16.

Microchip Technology (NASDAQ:MCHP) last posted its quarterly earnings results on Thursday, February 5th. The semiconductor company reported $0.44 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.43 by $0.01. Microchip Technology had a positive return on equity of 7.16% and a negative net margin of 1.57%.The business had revenue of $1.19 billion for the quarter, compared to analyst estimates of $1.19 billion. During the same period last year, the company earned $0.20 EPS. The firm’s revenue was up 15.6% on a year-over-year basis. Microchip Technology has set its Q4 2026 guidance at 0.480-0.520 EPS. As a group, analysts anticipate that Microchip Technology Incorporated will post 1.03 earnings per share for the current year.

Microchip Technology Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, March 10th. Shareholders of record on Monday, February 23rd were issued a dividend of $0.455 per share. The ex-dividend date was Monday, February 23rd. This represents a $1.82 dividend on an annualized basis and a yield of 2.9%. Microchip Technology’s dividend payout ratio (DPR) is -627.59%.

Insider Activity

In other news, CEO Steve Sanghi sold 98,814 shares of the company’s stock in a transaction dated Wednesday, January 28th. The stock was sold at an average price of $80.55, for a total value of $7,959,467.70. Following the completion of the sale, the chief executive officer directly owned 9,922,319 shares of the company’s stock, valued at $799,242,795.45. This represents a 0.99% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders own 1.94% of the company’s stock.

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.