State Street Corp Acquires 2,489,258 Shares of Microchip Technology Incorporated $MCHP

State Street Corp boosted its stake in shares of Microchip Technology Incorporated (NASDAQ:MCHP) by 8.5% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 31,888,814 shares of the semiconductor company’s stock after buying an additional 2,489,258 shares during the period. State Street Corp owned 0.06% of Microchip Technology worth $2,244,016,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. MCF Advisors LLC boosted its position in Microchip Technology by 211.2% during the second quarter. MCF Advisors LLC now owns 473 shares of the semiconductor company’s stock valued at $33,000 after purchasing an additional 321 shares in the last quarter. Carderock Capital Management Inc. purchased a new stake in shares of Microchip Technology during the second quarter valued at about $39,000. WPG Advisers LLC purchased a new stake in shares of Microchip Technology during the first quarter valued at about $40,000. Painted Porch Advisors LLC bought a new stake in shares of Microchip Technology in the 2nd quarter valued at about $40,000. Finally, Fourth Dimension Wealth LLC grew its position in shares of Microchip Technology by 98.7% in the 2nd quarter. Fourth Dimension Wealth LLC now owns 600 shares of the semiconductor company’s stock worth $42,000 after buying an additional 298 shares during the last quarter. 91.51% of the stock is currently owned by hedge funds and other institutional investors.

Microchip Technology Stock Performance

Shares of MCHP stock opened at $66.85 on Wednesday. The firm has a market capitalization of $36.13 billion, a price-to-earnings ratio of -148.56, a price-to-earnings-growth ratio of 2.12 and a beta of 1.48. The company has a debt-to-equity ratio of 0.80, a current ratio of 2.25 and a quick ratio of 1.20. The business has a fifty day moving average of $60.27 and a 200 day moving average of $64.77. Microchip Technology Incorporated has a 1 year low of $34.13 and a 1 year high of $77.20.

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

Microchip Technology Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, December 9th. Shareholders of record on Monday, November 24th were given a dividend of $0.455 per share. The ex-dividend date of this dividend was Monday, November 24th. This represents a $1.82 dividend on an annualized basis and a yield of 2.7%. Microchip Technology’s dividend payout ratio (DPR) is currently -404.44%.

Insider Buying and Selling

In other Microchip Technology news, CFO James Eric Bjornholt sold 4,292 shares of Microchip Technology stock in a transaction that occurred on Tuesday, November 25th. The shares were sold at an average price of $50.39, for a total transaction of $216,273.88. Following the completion of the sale, the chief financial officer directly owned 30,089 shares in the company, valued at approximately $1,516,184.71. The trade was a 12.48% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Insiders own 1.94% of the company’s stock.

Analyst Upgrades and Downgrades

MCHP has been the subject of a number of analyst reports. KeyCorp reissued an “overweight” rating on shares of Microchip Technology in a research report on Wednesday, December 3rd. Morgan Stanley increased their price objective on Microchip Technology from $63.00 to $68.00 and gave the company an “equal weight” rating in a report on Tuesday, November 4th. Truist Financial reissued 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. Susquehanna reduced their target price on Microchip Technology from $85.00 to $75.00 and set a “positive” rating on the stock in a research report on Friday, November 7th. Finally, Needham & Company LLC increased their price target on Microchip Technology from $73.00 to $75.00 and gave the company a “buy” rating in a research note on Thursday, December 4th. One analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating, seven have issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $74.95.

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.