US Bancorp DE Decreases Position in Microchip Technology Incorporated $MCHP

US Bancorp DE trimmed its holdings in Microchip Technology Incorporated (NASDAQ:MCHP) by 2.2% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 406,475 shares of the semiconductor company’s stock after selling 9,110 shares during the quarter. US Bancorp DE’s holdings in Microchip Technology were worth $26,104,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Fox Run Management L.L.C. acquired a new position in shares of Microchip Technology in the 3rd quarter valued at $2,865,000. Mufg Securities Americas Inc. lifted its position in Microchip Technology by 22.1% in the third quarter. Mufg Securities Americas Inc. now owns 14,553 shares of the semiconductor company’s stock valued at $935,000 after acquiring an additional 2,634 shares during the last quarter. AXQ Capital LP purchased a new stake in Microchip Technology in the third quarter valued at $926,000. Compound Planning Inc. boosted its stake in Microchip Technology by 72.0% in the third quarter. Compound Planning Inc. now owns 5,681 shares of the semiconductor company’s stock valued at $365,000 after acquiring an additional 2,378 shares in the last quarter. Finally, Private Advisory Group LLC purchased a new position in shares of Microchip Technology during the third quarter worth about $1,247,000. 91.51% of the stock is currently owned by hedge funds and other institutional investors.

Microchip Technology Price Performance

Microchip Technology stock opened at $74.64 on Friday. The company has a debt-to-equity ratio of 0.82, a current ratio of 2.16 and a quick ratio of 1.16. The business has a 50 day simple moving average of $73.81 and a 200-day simple moving average of $66.57. 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 PE ratio of -257.38, a price-to-earnings-growth ratio of 1.89 and a beta of 1.46.

Microchip Technology (NASDAQ:MCHP) last announced its quarterly earnings data on Thursday, February 5th. The semiconductor company reported $0.44 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.43 by $0.01. The company had revenue of $1.19 billion for the quarter, compared to analysts’ expectations of $1.19 billion. Microchip Technology had a negative net margin of 1.57% and a positive return on equity of 7.16%. Microchip Technology’s revenue was up 15.6% compared to the same quarter last year. During the same period in the previous year, the company posted $0.20 EPS. Microchip Technology has set its Q4 2026 guidance at 0.480-0.520 EPS. Equities analysts predict that Microchip Technology Incorporated will post 1.03 earnings per share for the current year.

Microchip Technology Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, March 10th. Investors 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 of this dividend is Monday, February 23rd. Microchip Technology’s dividend payout ratio is currently -627.59%.

Insider Buying and Selling

In other Microchip Technology news, CEO Steve Sanghi sold 98,814 shares of Microchip Technology stock in a transaction that occurred on Wednesday, January 28th. The stock was sold at an average price of $80.55, for a total value of $7,959,467.70. Following the sale, the chief executive officer owned 9,922,319 shares of the company’s stock, valued at approximately $799,242,795.45. The trade was 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 the SEC website. 1.94% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

MCHP has been the subject of several research reports. Needham & Company LLC boosted their target price on Microchip Technology from $77.00 to $84.00 and gave the company a “buy” rating in a report on Friday, February 6th. UBS Group lifted their price target on Microchip Technology from $85.00 to $95.00 and gave the stock a “buy” rating in a research report on Monday, January 26th. Susquehanna increased their price objective on Microchip Technology from $75.00 to $90.00 and gave the company a “positive” rating in a report on Thursday, January 22nd. Cantor Fitzgerald lifted their target price on shares of Microchip Technology from $85.00 to $100.00 and gave the company an “overweight” rating in a report on Monday, February 2nd. Finally, Barclays began coverage on shares of Microchip Technology in a research report on Thursday, February 12th. They issued an “equal weight” rating and a $80.00 price target for the company. Three equities research analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and eight have assigned a Hold rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $86.00.

About Microchip Technology

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.