Waters Parkerson & CO. LLC Sells 13,724 Shares of Microchip Technology Incorporated $MCHP

Waters Parkerson & CO. LLC decreased its position in shares of Microchip Technology Incorporated (NASDAQ:MCHP) by 4.3% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 304,364 shares of the semiconductor company’s stock after selling 13,724 shares during the period. Waters Parkerson & CO. LLC owned about 0.06% of Microchip Technology worth $19,546,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in the company. Confluence Wealth Services Inc. increased its stake in shares of Microchip Technology by 1.7% in the 3rd quarter. Confluence Wealth Services Inc. now owns 10,996 shares of the semiconductor company’s stock valued at $706,000 after purchasing an additional 187 shares during the last quarter. First National Advisers LLC boosted its stake in Microchip Technology by 0.4% in the third quarter. First National Advisers LLC now owns 56,579 shares of the semiconductor company’s stock valued at $3,634,000 after buying an additional 224 shares in the last quarter. Pinnacle Financial Partners Inc grew its position in Microchip Technology by 3.2% in the third quarter. Pinnacle Financial Partners Inc now owns 6,438 shares of the semiconductor company’s stock valued at $413,000 after acquiring an additional 202 shares during the last quarter. Community Bank & Trust Waco Texas grew its position in Microchip Technology by 0.4% in the third quarter. Community Bank & Trust Waco Texas now owns 54,851 shares of the semiconductor company’s stock valued at $3,523,000 after acquiring an additional 207 shares during the last quarter. Finally, Global Trust Asset Management LLC raised its stake in Microchip Technology by 2.4% during the third quarter. Global Trust Asset Management LLC now owns 7,263 shares of the semiconductor company’s stock worth $466,000 after acquiring an additional 169 shares in the last quarter. 91.51% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on MCHP. 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. B. Riley boosted their target price on shares of Microchip Technology from $85.00 to $95.00 and gave the stock a “buy” rating in a research note on Monday, January 12th. Susquehanna dropped their price target on Microchip Technology from $85.00 to $75.00 and set a “positive” rating for the company in a research note on Friday, November 7th. Cantor Fitzgerald raised Microchip Technology from a “neutral” rating to an “overweight” rating and raised their price objective for the company from $65.00 to $85.00 in a report on Tuesday, December 16th. Finally, Wolfe Research set a $85.00 price objective on Microchip Technology in a research report on Tuesday, January 6th. One investment analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $79.38.

Microchip Technology Stock Up 0.3%

Shares of NASDAQ:MCHP opened at $74.70 on Friday. The business has a fifty day simple moving average of $62.83 and a 200 day simple moving average of $65.29. Microchip Technology Incorporated has a 12-month low of $34.13 and a 12-month high of $77.20. The firm has a market cap of $40.37 billion, a P/E ratio of -166.00, a P/E/G ratio of 2.24 and a beta of 1.46. The company has a quick ratio of 1.20, a current ratio of 2.25 and a debt-to-equity ratio of 0.80.

Microchip Technology (NASDAQ:MCHP) last issued its quarterly earnings results on Thursday, November 6th. The semiconductor company reported $0.35 earnings per share for the quarter, beating the consensus estimate of $0.33 by $0.02. The company had revenue of $1.14 billion during the quarter, compared to analysts’ expectations of $1.13 billion. Microchip Technology had a positive return on equity of 5.21% and a negative net margin of 4.39%.The business’s quarterly revenue was down 2.0% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.46 earnings per share. Microchip Technology has set its Q3 2026 guidance at 0.340-0.400 EPS. 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 disclosed a quarterly dividend, which was paid on Tuesday, December 9th. Stockholders of record on Monday, November 24th were given a dividend of $0.455 per share. The ex-dividend date was Monday, November 24th. This represents a $1.82 annualized dividend and a dividend yield of 2.4%. Microchip Technology’s dividend payout ratio is -404.44%.

Insider Buying and Selling at Microchip Technology

In related news, CFO James Eric Bjornholt sold 4,292 shares of Microchip Technology stock in a transaction on Tuesday, November 25th. The shares were sold at an average price of $50.39, for a total transaction of $216,273.88. Following the completion of the transaction, the chief financial officer owned 30,089 shares of the company’s stock, valued at $1,516,184.71. This trade represents a 12.48% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 1.94% of the stock is currently owned by company insiders.

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.