Camden National Bank Acquires 1,765 Shares of Microchip Technology Incorporated $MCHP

Camden National Bank raised its holdings in shares of Microchip Technology Incorporated (NASDAQ:MCHP) by 41.1% in the second quarter, Holdings Channel.com reports. The firm owned 6,062 shares of the semiconductor company’s stock after purchasing an additional 1,765 shares during the period. Camden National Bank’s holdings in Microchip Technology were worth $427,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. Sagespring Wealth Partners LLC increased its position in Microchip Technology by 2.7% during the 2nd quarter. Sagespring Wealth Partners LLC now owns 5,787 shares of the semiconductor company’s stock valued at $407,000 after buying an additional 154 shares in the last quarter. Mechanics Financial Corp grew its stake in shares of Microchip Technology by 3.4% in the second quarter. Mechanics Financial Corp now owns 5,014 shares of the semiconductor company’s stock worth $353,000 after acquiring an additional 167 shares during the last quarter. Global X Japan Co. Ltd. increased its holdings in shares of Microchip Technology by 0.4% during the second quarter. Global X Japan Co. Ltd. now owns 45,705 shares of the semiconductor company’s stock valued at $3,216,000 after acquiring an additional 174 shares in the last quarter. Bank of Jackson Hole Trust raised its position in shares of Microchip Technology by 2.0% in the 2nd quarter. Bank of Jackson Hole Trust now owns 8,828 shares of the semiconductor company’s stock worth $621,000 after purchasing an additional 174 shares during the last quarter. Finally, Pinnacle Bancorp Inc. boosted its stake in Microchip Technology by 18.9% in the 2nd quarter. Pinnacle Bancorp Inc. now owns 1,206 shares of the semiconductor company’s stock worth $85,000 after purchasing an additional 192 shares in the last quarter. 91.51% of the stock is owned by institutional investors.

Insider Buying and Selling

In related news, CFO James Eric Bjornholt sold 7,356 shares of the business’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 transaction of $505,504.32. Following the completion of the sale, the chief financial officer directly owned 30,010 shares in the company, valued at approximately $2,062,287.20. The trade was a 19.69% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Matthew W. Chapman sold 10,000 shares of the company’s stock in a transaction that occurred on Monday, August 25th. The shares were sold at an average price of $68.25, for a total transaction of $682,500.00. Following 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. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 1.94% of the company’s stock.

Microchip Technology Price Performance

Shares of MCHP opened at $50.90 on Friday. The firm has a fifty day simple moving average of $61.86 and a two-hundred day simple moving average of $64.57. The firm has a market cap of $27.51 billion, a PE ratio of -149.71, a P/E/G ratio of 1.79 and a beta of 1.57. The company has a current ratio of 2.31, a quick ratio of 1.33 and a debt-to-equity ratio of 0.80. Microchip Technology Incorporated has a 1-year low of $34.13 and a 1-year high of $77.20.

Microchip Technology (NASDAQ:MCHP) last issued its quarterly earnings data on Thursday, November 6th. The semiconductor company reported $0.35 EPS for the quarter, topping the consensus estimate of $0.33 by $0.02. Microchip Technology had a positive return on equity of 6.24% and a negative net margin of 3.50%.The company had revenue of $1.14 billion during the quarter, compared to analyst estimates of $1.13 billion. During the same quarter in the previous year, the company posted $0.46 earnings per share. Microchip Technology’s revenue was down 2.0% compared to the same quarter last year. Microchip Technology has set its Q3 2026 guidance at 0.340-0.400 EPS. On average, equities analysts anticipate that Microchip Technology Incorporated will post 1.03 EPS for the current year.

Microchip Technology Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 9th. Stockholders of record on Monday, November 24th will be paid a $0.455 dividend. This represents a $1.82 annualized dividend and a dividend yield of 3.6%. The ex-dividend date is Monday, November 24th. Microchip Technology’s dividend payout ratio is -404.44%.

Analysts Set New Price Targets

MCHP has been the subject of a number of analyst reports. Morgan Stanley raised their price objective on shares of Microchip Technology from $63.00 to $68.00 and gave the company an “equal weight” rating in a research note on Tuesday, November 4th. Citigroup reduced their price target on shares of Microchip Technology from $90.00 to $80.00 and set a “buy” rating for the company in a research report on Friday, November 7th. Raymond James Financial upped their price objective on Microchip Technology from $65.00 to $75.00 and gave the company a “strong-buy” rating in a research report on Friday, August 8th. Susquehanna reduced their target price on Microchip Technology from $85.00 to $75.00 and set a “positive” rating for the company in a report on Friday, November 7th. Finally, Truist Financial reaffirmed a “hold” rating and set a $60.00 price target (down from $64.00) on shares of Microchip Technology in a report on Friday, November 7th. One equities research analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, seven have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, Microchip Technology presently has a consensus rating of “Moderate Buy” and a consensus price target of $73.47.

Microchip Technology Profile

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.