Prospera Financial Services Inc Reduces Stock Holdings in Microchip Technology Incorporated $MCHP

Prospera Financial Services Inc trimmed its position in Microchip Technology Incorporated (NASDAQ:MCHP) by 31.9% during the 4th quarter, HoldingsChannel reports. The firm owned 59,949 shares of the semiconductor company’s stock after selling 28,144 shares during the period. Prospera Financial Services Inc’s holdings in Microchip Technology were worth $3,820,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Vanguard Group Inc. boosted its position in Microchip Technology by 2.0% in the fourth quarter. Vanguard Group Inc. now owns 73,506,339 shares of the semiconductor company’s stock worth $4,683,824,000 after purchasing an additional 1,430,781 shares during the last quarter. Boston Partners boosted its position in Microchip Technology by 9.5% in the third quarter. Boston Partners now owns 16,234,332 shares of the semiconductor company’s stock worth $1,044,024,000 after purchasing an additional 1,406,885 shares during the last quarter. Victory Capital Management Inc. lifted its position in shares of Microchip Technology by 11.3% during the 3rd quarter. Victory Capital Management Inc. now owns 12,006,088 shares of the semiconductor company’s stock valued at $806,821,000 after buying an additional 1,215,939 shares in the last quarter. Bank of America Corp DE lifted its position in shares of Microchip Technology by 18.8% during the 3rd quarter. Bank of America Corp DE now owns 11,419,944 shares of the semiconductor company’s stock valued at $733,389,000 after buying an additional 1,803,831 shares in the last quarter. Finally, Barrow Hanley Mewhinney & Strauss LLC lifted its position in shares of Microchip Technology by 25.7% during the 3rd quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 11,048,057 shares of the semiconductor company’s stock valued at $709,506,000 after buying an additional 2,257,932 shares in the last quarter. 91.51% of the stock is owned by hedge funds and other institutional investors.

Microchip Technology Price Performance

Shares of MCHP opened at $93.43 on Tuesday. The business’s 50 day moving average is $79.42 and its 200 day moving average is $71.84. The company has a market capitalization of $50.56 billion, a PE ratio of 444.93, a price-to-earnings-growth ratio of 0.98 and a beta of 1.75. Microchip Technology Incorporated has a 12-month low of $48.52 and a 12-month high of $105.91. The company has a current ratio of 2.09, a quick ratio of 1.18 and a debt-to-equity ratio of 0.85.

Microchip Technology (NASDAQ:MCHP) last issued its earnings results on Thursday, May 7th. The semiconductor company reported $0.57 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.50 by $0.07. The company had revenue of $1.31 billion for the quarter, compared to the consensus estimate of $1.26 billion. Microchip Technology had a return on equity of 10.87% and a net margin of 4.88%.The firm’s quarterly revenue was up 35.1% on a year-over-year basis. During the same quarter last year, the company earned $0.11 EPS. Microchip Technology has set its Q1 2027 guidance at 0.670-0.710 EPS. Research analysts expect that Microchip Technology Incorporated will post 2.58 earnings per share for the current fiscal year.

Microchip Technology Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 5th. Investors of record on Friday, May 22nd will be paid a dividend of $0.455 per share. This represents a $1.82 annualized dividend and a yield of 1.9%. The ex-dividend date of this dividend is Friday, May 22nd. Microchip Technology’s dividend payout ratio (DPR) is 866.67%.

Insider Activity at Microchip Technology

In related news, Director Matthew W. Chapman sold 10,000 shares of Microchip Technology stock in a transaction that occurred on Friday, May 15th. The stock was sold at an average price of $95.48, for a total transaction of $954,800.00. Following the sale, the director owned 20,665 shares of the company’s stock, valued at approximately $1,973,094.20. This trade represents a 32.61% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Steve Sanghi sold 76,469 shares of Microchip Technology stock in a transaction dated Friday, May 1st. The stock was sold at an average price of $93.58, for a total value of $7,155,969.02. Following the completion of the sale, the chief executive officer directly owned 9,385,834 shares in the company, valued at $878,326,345.72. This trade represents a 0.81% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 536,635 shares of company stock worth $48,093,054 in the last three months. 1.94% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on MCHP. Wall Street Zen raised Microchip Technology from a “hold” rating to a “buy” rating in a research report on Saturday, May 9th. UBS Group lifted their price objective on Microchip Technology from $115.00 to $130.00 and gave the company a “buy” rating in a research report on Friday, May 8th. Weiss Ratings raised Microchip Technology from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Friday. Bank of America raised Microchip Technology from a “neutral” rating to a “buy” rating and set a $95.00 price objective on the stock in a research report on Wednesday, January 28th. Finally, Citigroup lifted their price objective on Microchip Technology from $91.00 to $113.00 and gave the company a “buy” rating in a research report on Friday, May 8th. Four analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and seven have given a Hold rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $97.52.

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.