Microchip Technology Incorporated $MCHP Shares Newly Bought by NBT Bank N.A.

NBT Bank N.A. acquired a new position in Microchip Technology Incorporated (NASDAQ:MCHP) in the 3rd quarter, Holdings Channel reports. The institutional investor acquired 31,247 shares of the semiconductor company’s stock, valued at approximately $2,430,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of MCHP. Root Financial Partners LLC acquired a new stake in shares of Microchip Technology in the 3rd quarter worth approximately $165,000. Reyes Financial Architecture Inc. bought a new position in shares of Microchip Technology in the third quarter valued at approximately $34,000. Lmcg Investments LLC increased its stake in shares of Microchip Technology by 0.3% during the third quarter. Lmcg Investments LLC now owns 120,648 shares of the semiconductor company’s stock valued at $9,383,000 after acquiring an additional 354 shares during the period. Vest Financial LLC increased its stake in shares of Microchip Technology by 61.1% during the third quarter. Vest Financial LLC now owns 127,562 shares of the semiconductor company’s stock valued at $9,920,000 after acquiring an additional 48,357 shares during the period. Finally, Axxcess Wealth Management LLC acquired a new position in shares of Microchip Technology during the third quarter valued at approximately $206,000. Institutional investors own 91.51% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on MCHP shares. Weiss Ratings upgraded Microchip Technology from a “hold (c-)” rating to a “hold (c)” rating in a research report on Tuesday, August 11th. TD Cowen decreased their price target on Microchip Technology from $90.00 to $75.00 and set a “hold” rating for the company in a research note on Monday. Wells Fargo & Company lowered their price target on Microchip Technology from $88.00 to $80.00 and set an “equal weight” rating on the stock in a research report on Tuesday. BMO Capital Markets initiated coverage on Microchip Technology in a research note on Friday, August 21st. They issued an “outperform” rating and a $95.00 price objective on the stock. Finally, Zacks Research downgraded Microchip Technology from a “strong-buy” rating to a “hold” rating in a research note on Monday, August 17th. Three investment analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and eight have given a Hold rating to the company’s stock. According to MarketBeat, Microchip Technology has a consensus rating of “Moderate Buy” and an average price target of $97.71.

Microchip Technology Stock Performance

NASDAQ:MCHP opened at $74.52 on Friday. Microchip Technology Incorporated has a twelve month low of $48.52 and a twelve month high of $105.91. The company has a current ratio of 1.92, a quick ratio of 1.11 and a debt-to-equity ratio of 0.83. The company has a 50-day moving average of $75.19 and a 200-day moving average of $82.88. The firm has a market cap of $40.47 billion, a price-to-earnings ratio of 111.23, a price-to-earnings-growth ratio of 0.53 and a beta of 1.77.

Microchip Technology (NASDAQ:MCHP) last announced its quarterly earnings data on Thursday, August 6th. The semiconductor company reported $0.76 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.70 by $0.06. Microchip Technology had a net margin of 9.34% and a return on equity of 14.97%. The company had revenue of $1.48 billion for the quarter, compared to analysts’ expectations of $1.46 billion. During the same quarter in the previous year, the company posted $0.27 EPS. The business’s revenue was up 38.0% compared to the same quarter last year. Microchip Technology has set its Q2 2027 guidance at 0.910-0.950 EPS. Analysts forecast that Microchip Technology Incorporated will post 3.20 earnings per share for the current fiscal year.

Microchip Technology Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, September 9th. Investors of record on Monday, August 24th were issued a dividend of $0.4550 per share. This represents a $1.82 dividend on an annualized basis and a yield of 2.4%. The ex-dividend date was Monday, August 24th. Microchip Technology’s dividend payout ratio (DPR) is presently 271.64%.

Insiders Place Their Bets

In other Microchip Technology news, CFO James Bjornholt sold 4,112 shares of Microchip Technology stock in a transaction that occurred on Tuesday, August 25th. The shares were sold at an average price of $75.32, for a total value of $309,715.84. Following the transaction, the chief financial officer owned 28,573 shares in the company, valued at approximately $2,152,118.36. The trade was a 12.58% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 1.79% of the company’s stock.

Microchip Technology Profile

Microchip Technology Incorporated (NASDAQ:MCHP) develops and manufactures semiconductor products used in embedded control and connected electronic systems. Its portfolio includes microcontrollers, microprocessors, analog and power-management devices, memory products, timing and connectivity components, security solutions, and field-programmable gate arrays. The company also provides development tools, software, evaluation kits, and technical support to help customers design and produce electronic equipment.

Microchip’s products are used across a range of markets, including automotive, industrial, aerospace and defense, communications, consumer electronics, data centers, and medical applications.