Central Pacific Bank Trust Division Sells 431 Shares of Microchip Technology Incorporated $MCHP

Central Pacific Bank Trust Division lowered its holdings in shares of Microchip Technology Incorporated (NASDAQ:MCHP) by 1.3% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 31,677 shares of the semiconductor company’s stock after selling 431 shares during the quarter. Central Pacific Bank Trust Division’s holdings in Microchip Technology were worth $2,229,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also bought and sold shares of MCHP. Gotham Asset Management LLC lifted its position in Microchip Technology by 3.8% during the fourth quarter. Gotham Asset Management LLC now owns 11,259 shares of the semiconductor company’s stock valued at $646,000 after purchasing an additional 414 shares during the last quarter. OMERS ADMINISTRATION Corp lifted its position in Microchip Technology by 20.1% during the fourth quarter. OMERS ADMINISTRATION Corp now owns 22,522 shares of the semiconductor company’s stock valued at $1,292,000 after purchasing an additional 3,763 shares during the last quarter. NorthRock Partners LLC lifted its position in Microchip Technology by 86.1% during the fourth quarter. NorthRock Partners LLC now owns 7,214 shares of the semiconductor company’s stock valued at $414,000 after purchasing an additional 3,337 shares during the last quarter. Mufg Securities Americas Inc. bought a new position in Microchip Technology during the fourth quarter valued at $455,000. Finally, ProShare Advisors LLC lifted its position in Microchip Technology by 17.6% during the fourth quarter. ProShare Advisors LLC now owns 884,664 shares of the semiconductor company’s stock valued at $50,735,000 after purchasing an additional 132,466 shares during the last quarter. Institutional investors own 91.51% of the company’s stock.

Insider Activity

In related news, CFO James Eric Bjornholt sold 7,356 shares of the firm’s stock in a transaction dated Monday, August 25th. The shares were sold at an average price of $68.72, for a total value of $505,504.32. Following the transaction, the chief financial officer owned 30,010 shares of the company’s stock, valued at $2,062,287.20. This trade represents a 19.69% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Matthew W. Chapman sold 10,000 shares of the firm’s stock in a transaction dated Monday, August 25th. The stock was sold at an average price of $68.25, for a total transaction of $682,500.00. Following the completion of the transaction, the director directly owned 30,665 shares in the company, valued at $2,092,886.25. This represents a 24.59% decrease in their position. The disclosure for this sale can be found here. Company insiders own 1.94% of the company’s stock.

Microchip Technology Trading Down 0.5%

MCHP stock opened at $64.70 on Friday. The company has a market capitalization of $34.92 billion, a PE ratio of -190.29, a P/E/G ratio of 1.86 and a beta of 1.56. Microchip Technology Incorporated has a 12 month low of $34.13 and a 12 month high of $81.64. The firm’s 50-day moving average is $68.12 and its 200 day moving average is $59.66. The company has a debt-to-equity ratio of 0.80, a current ratio of 2.31 and a quick ratio of 1.33.

Microchip Technology (NASDAQ:MCHP) last posted its quarterly earnings results on Thursday, August 7th. The semiconductor company reported $0.27 EPS for the quarter, topping the consensus estimate of $0.24 by $0.03. The company had revenue of $1.08 billion for the quarter, compared to the consensus estimate of $1.05 billion. Microchip Technology had a negative net margin of 3.50% and a positive return on equity of 6.24%. The firm’s revenue was down 13.3% compared to the same quarter last year. During the same quarter last year, the firm posted $0.53 EPS. Microchip Technology has set its Q2 2026 guidance at 0.340-0.370 EPS. On average, research analysts anticipate that Microchip Technology Incorporated will post 1.03 EPS for the current year.

Microchip Technology Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, September 5th. Investors of record on Friday, August 22nd were paid a $0.455 dividend. This represents a $1.82 annualized dividend and a yield of 2.8%. The ex-dividend date of this dividend was Friday, August 22nd. Microchip Technology’s dividend payout ratio (DPR) is currently -535.29%.

Wall Street Analysts Forecast Growth

Several research firms have commented on MCHP. Evercore ISI increased their price objective on shares of Microchip Technology from $69.00 to $83.00 and gave the company an “outperform” rating in a research report on Thursday, June 12th. Truist Financial raised their target price on shares of Microchip Technology from $52.00 to $64.00 and gave the stock a “hold” rating in a report on Wednesday, June 18th. UBS Group raised their target price on shares of Microchip Technology from $65.00 to $85.00 and gave the stock a “buy” rating in a report on Monday, July 7th. Citigroup raised their target price on shares of Microchip Technology from $68.00 to $90.00 and gave the stock a “buy” rating in a report on Monday, July 7th. Finally, Wall Street Zen upgraded shares of Microchip Technology from a “sell” rating to a “hold” rating in a report on Friday, June 27th. One analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and six have assigned a Hold rating to the company. According to MarketBeat, Microchip Technology currently has a consensus rating of “Moderate Buy” and an average price target of $76.58.

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.