Norway Savings Bank Sells 1,720 Shares of Microchip Technology Incorporated $MCHP

Norway Savings Bank decreased its holdings in Microchip Technology Incorporated (NASDAQ:MCHP) by 5.0% in the second quarter, HoldingsChannel.com reports. The institutional investor owned 32,948 shares of the semiconductor company’s stock after selling 1,720 shares during the quarter. Microchip Technology accounts for about 1.2% of Norway Savings Bank’s holdings, making the stock its 27th biggest holding. Norway Savings Bank’s holdings in Microchip Technology were worth $2,319,000 at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. Garde Capital Inc. acquired a new position in shares of Microchip Technology during the first quarter worth $30,000. Orion Capital Management LLC acquired a new position in shares of Microchip Technology during the fourth quarter worth $41,000. WPG Advisers LLC acquired a new position in shares of Microchip Technology during the first quarter worth $40,000. Byrne Asset Management LLC acquired a new position in shares of Microchip Technology during the first quarter worth $41,000. Finally, GW&K Investment Management LLC increased its position in shares of Microchip Technology by 161.0% during the first quarter. GW&K Investment Management LLC now owns 937 shares of the semiconductor company’s stock worth $45,000 after purchasing an additional 578 shares in the last quarter. 91.51% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Microchip Technology

In other Microchip Technology news, Director Matthew W. Chapman sold 10,000 shares of the company’s stock in a transaction on Monday, August 25th. The shares were sold at an average price of $68.25, for a total value 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. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO James Eric Bjornholt sold 7,356 shares of the company’s stock in a transaction 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 disclosure for this sale can be found here. 1.94% of the stock is currently owned by corporate insiders.

Microchip Technology Price Performance

Shares of MCHP opened at $64.70 on Friday. The firm has a market capitalization of $34.92 billion, a PE ratio of -190.29, a price-to-earnings-growth ratio of 1.86 and a beta of 1.56. The company has a debt-to-equity ratio of 0.80, a current ratio of 2.31 and a quick ratio of 1.33. Microchip Technology Incorporated has a 1-year low of $34.13 and a 1-year high of $81.64. The company’s fifty day moving average price is $68.12 and its 200-day moving average price is $59.66.

Microchip Technology (NASDAQ:MCHP) last announced its quarterly earnings data on Thursday, August 7th. The semiconductor company reported $0.27 earnings per share for the quarter, beating analysts’ consensus estimates of $0.24 by $0.03. Microchip Technology had a negative net margin of 3.50% and a positive return on equity of 6.24%. The firm had revenue of $1.08 billion for the quarter, compared to analyst estimates of $1.05 billion. During the same period in the previous year, the company earned $0.53 earnings per share. The business’s quarterly revenue was down 13.3% compared to the same quarter last year. Microchip Technology has set its Q2 2026 guidance at 0.340-0.370 EPS. On average, equities research analysts predict that Microchip Technology Incorporated will post 1.03 EPS for the current year.

Microchip Technology Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, September 5th. Shareholders of record on Friday, August 22nd were issued a $0.455 dividend. This represents a $1.82 annualized dividend and a yield of 2.8%. The ex-dividend date of this dividend was Friday, August 22nd. Microchip Technology’s dividend payout ratio is presently -535.29%.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on MCHP. Stifel Nicolaus upped their price target on Microchip Technology from $70.00 to $82.00 and gave the stock a “buy” rating in a research report on Friday, July 18th. Truist Financial upped their price target on Microchip Technology from $52.00 to $64.00 and gave the stock a “hold” rating in a research report on Wednesday, June 18th. Cantor Fitzgerald began coverage on Microchip Technology in a research report on Wednesday, June 18th. They set a “neutral” rating and a $70.00 price target on the stock. Wall Street Zen raised shares of Microchip Technology from a “sell” rating to a “hold” rating in a report on Friday, June 27th. Finally, UBS Group boosted their price objective on shares of Microchip Technology from $65.00 to $85.00 and gave the company a “buy” rating in a report on Monday, July 7th. One research analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and six have given a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $76.58.

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.