Microchip Technology Incorporated $MCHP Shares Sold by US Bancorp DE

US Bancorp DE trimmed its position in Microchip Technology Incorporated (NASDAQ:MCHP) by 2.2% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 406,475 shares of the semiconductor company’s stock after selling 9,110 shares during the quarter. US Bancorp DE owned about 0.08% of Microchip Technology worth $26,104,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. AQR Capital Management LLC raised its position in shares of Microchip Technology by 51.3% during the 1st quarter. AQR Capital Management LLC now owns 17,201 shares of the semiconductor company’s stock valued at $827,000 after buying an additional 5,835 shares during the period. Geneos Wealth Management Inc. increased its stake in Microchip Technology by 101.8% during the first quarter. Geneos Wealth Management Inc. now owns 1,221 shares of the semiconductor company’s stock worth $59,000 after acquiring an additional 616 shares during the last quarter. Focus Partners Advisor Solutions LLC purchased a new stake in Microchip Technology in the second quarter valued at $409,000. Brighton Jones LLC acquired a new position in shares of Microchip Technology in the 2nd quarter valued at $283,000. Finally, Bessemer Group Inc. grew its holdings in shares of Microchip Technology by 20.6% during the 2nd quarter. Bessemer Group Inc. now owns 26,748 shares of the semiconductor company’s stock worth $1,882,000 after purchasing an additional 4,578 shares during the period. Hedge funds and other institutional investors own 91.51% of the company’s stock.

Analyst Upgrades and Downgrades

MCHP has been the topic of several research analyst reports. Piper Sandler boosted their price objective on shares of Microchip Technology from $80.00 to $85.00 and gave the company an “overweight” rating in a report on Thursday, January 15th. Wall Street Zen raised shares of Microchip Technology from a “hold” rating to a “buy” rating in a research note on Saturday, February 7th. Weiss Ratings upgraded Microchip Technology from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Friday, February 6th. Wells Fargo & Company boosted their price objective on Microchip Technology from $68.00 to $70.00 and gave the company an “equal weight” rating in a report on Friday, February 6th. Finally, Cantor Fitzgerald increased their target price on Microchip Technology from $85.00 to $100.00 and gave the stock an “overweight” rating in a research note on Monday, February 2nd. Three investment analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating and eight have assigned a Hold rating to the company. According to MarketBeat, Microchip Technology has an average rating of “Moderate Buy” and an average price target of $86.00.

Microchip Technology Trading Down 0.4%

MCHP opened at $74.64 on Friday. The business has a fifty day moving average price of $73.81 and a 200 day moving average price of $66.57. The company has a debt-to-equity ratio of 0.82, a current ratio of 2.16 and a quick ratio of 1.16. Microchip Technology Incorporated has a 12 month low of $34.13 and a 12 month high of $83.35. The stock has a market capitalization of $40.39 billion, a price-to-earnings ratio of -257.38, a PEG ratio of 1.89 and a beta of 1.46.

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, beating analysts’ consensus estimates 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 company had revenue of $1.19 billion for the quarter, compared to analyst estimates of $1.19 billion. During the same quarter last year, the company earned $0.20 EPS. Microchip Technology’s revenue for the quarter was up 15.6% compared to the same quarter last year. Microchip Technology has set its Q4 2026 guidance at 0.480-0.520 EPS. Sell-side analysts expect that Microchip Technology Incorporated will post 1.03 earnings per share for the current fiscal year.

Microchip Technology Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, March 10th. Shareholders of record on Monday, February 23rd will be issued a dividend of $0.455 per share. This represents a $1.82 annualized dividend and a yield of 2.4%. The ex-dividend date is Monday, February 23rd. Microchip Technology’s payout ratio is -627.59%.

Insider Activity at Microchip Technology

In other news, CEO Steve Sanghi sold 98,814 shares of the firm’s stock in a transaction on Wednesday, January 28th. The shares were sold at an average price of $80.55, for a total value of $7,959,467.70. Following the sale, the chief executive officer directly owned 9,922,319 shares in the company, valued at approximately $799,242,795.45. This trade represents a 0.99% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 1.94% of the company’s stock.

Microchip Technology Profile

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.