Microchip Technology Incorporated $MCHP Shares Sold by Chevy Chase Trust Holdings LLC

Chevy Chase Trust Holdings LLC decreased its holdings in shares of Microchip Technology Incorporated (NASDAQ:MCHP) by 3.0% during the third quarter, Holdings Channel.com reports. The fund owned 277,056 shares of the semiconductor company’s stock after selling 8,651 shares during the period. Chevy Chase Trust Holdings LLC’s holdings in Microchip Technology were worth $17,793,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. Ausdal Financial Partners Inc. purchased a new stake in Microchip Technology during the 3rd quarter worth approximately $271,000. Bank of America Corp DE raised its holdings in shares of Microchip Technology by 18.8% in the third quarter. Bank of America Corp DE now owns 11,419,944 shares of the semiconductor company’s stock worth $733,389,000 after buying an additional 1,803,831 shares during the last quarter. Aquatic Capital Management LLC purchased a new position in shares of Microchip Technology in the third quarter worth $1,045,000. Alliancebernstein L.P. lifted its stake in shares of Microchip Technology by 3.4% during the third quarter. Alliancebernstein L.P. now owns 642,909 shares of the semiconductor company’s stock worth $41,288,000 after buying an additional 21,099 shares during the period. Finally, Ameriprise Financial Inc. grew its holdings in shares of Microchip Technology by 8.0% during the third quarter. Ameriprise Financial Inc. now owns 2,305,292 shares of the semiconductor company’s stock valued at $148,047,000 after buying an additional 170,152 shares during the last quarter. Institutional investors and hedge funds own 91.51% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on MCHP. Morgan Stanley upped their target price on Microchip Technology from $68.00 to $69.00 and gave the company an “equal weight” rating in a research report on Tuesday, January 6th. Weiss Ratings raised Microchip Technology from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Friday, February 6th. Wall Street Zen raised Microchip Technology from a “hold” rating to a “buy” rating in a report on Sunday. JPMorgan Chase & Co. raised their price objective on Microchip Technology from $85.00 to $95.00 and gave the stock an “overweight” rating in a research note on Friday, February 6th. Finally, Needham & Company LLC lifted their target price on Microchip Technology from $77.00 to $84.00 and gave the stock a “buy” rating in a report on Friday, February 6th. Three analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and eight have given a Hold rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $86.00.

Insiders Place Their Bets

In related 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 transaction of $7,959,467.70. Following the completion of the transaction, 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 ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 1.94% of the company’s stock.

Microchip Technology Trading Up 3.1%

NASDAQ MCHP opened at $63.83 on Tuesday. Microchip Technology Incorporated has a 1 year low of $34.13 and a 1 year high of $83.35. 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 company has a market capitalization of $34.54 billion, a PE ratio of -220.10, a P/E/G ratio of 1.56 and a beta of 1.45. The company has a fifty day moving average of $74.14 and a 200 day moving average of $66.60.

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

Microchip Technology Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, March 10th. Investors of record on Monday, February 23rd were issued a dividend of $0.455 per share. This represents a $1.82 annualized dividend and a yield of 2.9%. The ex-dividend date of this dividend was Monday, February 23rd. Microchip Technology’s dividend payout ratio (DPR) is -627.59%.

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.