Microchip Technology Incorporated $MCHP Shares Sold by Simmons Bank

Simmons Bank reduced its stake in shares of Microchip Technology Incorporated (NASDAQ:MCHP) by 4.6% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 54,560 shares of the semiconductor company’s stock after selling 2,646 shares during the period. Simmons Bank’s holdings in Microchip Technology were worth $3,839,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. Mizuho Markets Cayman LP bought a new position in Microchip Technology during the 2nd quarter worth approximately $107,584,000. Argonautica Private Wealth Management Inc. bought a new position in Microchip Technology during the 1st quarter worth approximately $428,000. Charles Schwab Investment Management Inc. boosted its holdings in shares of Microchip Technology by 3.9% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 3,266,402 shares of the semiconductor company’s stock valued at $158,127,000 after buying an additional 122,633 shares during the period. Victory Capital Management Inc. boosted its holdings in shares of Microchip Technology by 18.2% in the 1st quarter. Victory Capital Management Inc. now owns 602,783 shares of the semiconductor company’s stock valued at $29,181,000 after buying an additional 92,962 shares during the period. Finally, T. Rowe Price Investment Management Inc. boosted its holdings in shares of Microchip Technology by 0.9% in the 1st quarter. T. Rowe Price Investment Management Inc. now owns 16,630,574 shares of the semiconductor company’s stock valued at $805,087,000 after buying an additional 152,434 shares during the period. 91.51% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

MCHP has been the subject of several research reports. Stifel Nicolaus lifted their price target on shares of Microchip Technology from $70.00 to $82.00 and gave the company a “buy” rating in a report on Friday, July 18th. Needham & Company LLC lifted their price target on shares of Microchip Technology from $66.00 to $77.00 and gave the company a “buy” rating in a report on Friday, August 8th. TD Cowen decreased their price target on shares of Microchip Technology from $75.00 to $60.00 and set a “hold” rating for the company in a report on Friday, August 8th. Piper Sandler lifted their price target on shares of Microchip Technology from $65.00 to $80.00 and gave the company an “overweight” rating in a report on Friday, August 8th. Finally, Morgan Stanley lifted their price target on shares of Microchip Technology from $63.00 to $68.00 and gave the company an “equal weight” rating in a report on Tuesday. One investment analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating, seven have given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $76.65.

Insider Buying and Selling

In other news, CFO James Eric Bjornholt sold 7,356 shares of the company’s stock in a transaction that occurred on Monday, August 25th. The shares were sold at an average price of $68.72, for a total value of $505,504.32. Following the completion of the sale, the chief financial officer directly owned 30,010 shares of the company’s stock, valued at approximately $2,062,287.20. This represents a 19.69% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Matthew W. Chapman sold 10,000 shares of the company’s stock in a transaction that occurred on 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 sale, the director directly owned 30,665 shares of the company’s stock, valued at approximately $2,092,886.25. This represents a 24.59% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Corporate insiders own 1.94% of the company’s stock.

Microchip Technology Stock Down 4.7%

MCHP opened at $59.50 on Wednesday. Microchip Technology Incorporated has a 12 month low of $34.13 and a 12 month high of $77.20. The company has a debt-to-equity ratio of 0.80, a current ratio of 2.31 and a quick ratio of 1.33. The stock has a market cap of $32.11 billion, a P/E ratio of -175.00, a P/E/G ratio of 1.79 and a beta of 1.55. The stock’s 50 day moving average price is $64.65 and its 200 day moving average price is $64.02.

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

Microchip Technology Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, September 5th. Stockholders of record on Friday, August 22nd were paid a $0.455 dividend. This represents a $1.82 dividend on an annualized basis and a dividend yield of 3.1%. The ex-dividend date of this dividend was Friday, August 22nd. Microchip Technology’s dividend payout ratio is currently -535.29%.

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.