Norges Bank Invests $473.32 Million in Microchip Technology Incorporated $MCHP

Norges Bank purchased a new position in shares of Microchip Technology Incorporated (NASDAQ:MCHP) in the second quarter, HoldingsChannel.com reports. The fund purchased 6,726,161 shares of the semiconductor company’s stock, valued at approximately $473,320,000.

Other large investors have also bought and sold shares of the company. MCF Advisors LLC grew its holdings in Microchip Technology by 211.2% during the 2nd quarter. MCF Advisors LLC now owns 473 shares of the semiconductor company’s stock worth $33,000 after acquiring an additional 321 shares during the period. Carderock Capital Management Inc. bought a new position in shares of Microchip Technology in the 2nd quarter worth $39,000. WPG Advisers LLC bought a new position in shares of Microchip Technology in the 1st quarter worth $40,000. Painted Porch Advisors LLC acquired a new stake in shares of Microchip Technology during the second quarter worth $40,000. Finally, Fourth Dimension Wealth LLC grew its stake in shares of Microchip Technology by 98.7% during the second quarter. Fourth Dimension Wealth LLC now owns 600 shares of the semiconductor company’s stock worth $42,000 after purchasing an additional 298 shares during the period. 91.51% of the stock is currently owned by institutional investors and hedge funds.

Microchip Technology Price Performance

NASDAQ MCHP opened at $52.50 on Friday. The business has a 50 day simple moving average of $60.57 and a 200 day simple moving average of $64.59. Microchip Technology Incorporated has a 52-week low of $34.13 and a 52-week high of $77.20. The company has a debt-to-equity ratio of 0.80, a quick ratio of 1.33 and a current ratio of 2.31. The stock has a market cap of $28.37 billion, a price-to-earnings ratio of -154.41, a PEG ratio of 1.79 and a beta of 1.57.

Microchip Technology (NASDAQ:MCHP) last announced its quarterly earnings results on Thursday, November 6th. The semiconductor company reported $0.35 earnings per share for the quarter, beating analysts’ consensus estimates of $0.33 by $0.02. The firm had revenue of $1.14 billion for the quarter, compared to analyst estimates of $1.13 billion. Microchip Technology had a negative net margin of 3.50% and a positive return on equity of 6.24%. The business’s revenue was down 2.0% on a year-over-year basis. During the same quarter 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. Analysts anticipate that Microchip Technology Incorporated will post 1.03 earnings per share for the current fiscal year.

Microchip Technology Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 9th. Investors of record on Monday, November 24th will be paid a $0.455 dividend. The ex-dividend date of this dividend is Monday, November 24th. This represents a $1.82 dividend on an annualized basis and a yield of 3.5%. Microchip Technology’s dividend payout ratio is presently -404.44%.

Analysts Set New Price Targets

Several equities analysts have weighed in on MCHP shares. Weiss Ratings reissued a “sell (d+)” rating on shares of Microchip Technology in a research note on Wednesday, October 8th. Raymond James Financial upped their price target on Microchip Technology from $65.00 to $75.00 and gave the company a “strong-buy” rating in a research note on Friday, August 8th. Wells Fargo & Company reduced their price objective on shares of Microchip Technology from $60.00 to $58.00 and set an “equal weight” rating on the stock in a research note on Friday, November 7th. Truist Financial reaffirmed a “hold” rating and issued a $60.00 target price (down previously from $64.00) on shares of Microchip Technology in a research note on Friday, November 7th. Finally, Piper Sandler increased their target price on shares of Microchip Technology from $65.00 to $80.00 and gave the stock an “overweight” rating in a report on Friday, August 8th. One research analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating, seven have given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, Microchip Technology presently has an average rating of “Moderate Buy” and an average price target of $73.47.

Insider Transactions at Microchip Technology

In other Microchip Technology news, CFO James Eric Bjornholt sold 4,292 shares of Microchip Technology stock in a transaction dated 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 of the company’s stock, valued at $1,516,184.71. This trade represents a 12.48% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Company insiders own 1.94% of the company’s stock.

Microchip Technology Company Profile

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.