American Century Companies Inc. Sells 4,445 Shares of Microchip Technology Incorporated $MCHP

American Century Companies Inc. reduced its holdings in shares of Microchip Technology Incorporated (NASDAQ:MCHP - Free Report) by 9.3% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 43,326 shares of the semiconductor company's stock after selling 4,445 shares during the quarter. American Century Companies Inc.'s holdings in Microchip Technology were worth $2,097,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. First Citizens Bank & Trust Co. raised its stake in shares of Microchip Technology by 468.2% in the first quarter. First Citizens Bank & Trust Co. now owns 73,737 shares of the semiconductor company's stock valued at $3,570,000 after buying an additional 60,760 shares during the period. Everhart Financial Group Inc. bought a new stake in shares of Microchip Technology in the first quarter valued at $221,000. Texas Bank & Trust Co bought a new stake in shares of Microchip Technology in the fourth quarter valued at $792,000. Czech National Bank raised its stake in shares of Microchip Technology by 6.1% in the first quarter. Czech National Bank now owns 123,528 shares of the semiconductor company's stock valued at $5,980,000 after buying an additional 7,093 shares during the period. Finally, Sowell Financial Services LLC bought a new stake in shares of Microchip Technology in the first quarter valued at $318,000. 91.51% of the stock is currently owned by institutional investors.

Microchip Technology Price Performance

Microchip Technology stock traded up $1.49 during midday trading on Friday, hitting $65.92. 7,765,182 shares of the company's stock were exchanged, compared to its average volume of 8,738,270. Microchip Technology Incorporated has a 52-week low of $34.13 and a 52-week high of $81.64. The stock has a 50-day moving average price of $68.82 and a two-hundred day moving average price of $59.53. The company has a debt-to-equity ratio of 0.80, a quick ratio of 1.33 and a current ratio of 2.31. The company has a market cap of $35.58 billion, a P/E ratio of -193.88, a PEG ratio of 1.89 and a beta of 1.56.

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

Microchip Technology Announces Dividend

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

Insider Activity

In related news, Director Matthew W. Chapman sold 10,000 shares of the business's stock in a transaction dated Monday, August 25th. The stock was sold at an average price of $68.25, for a total transaction of $682,500.00. Following the completion of the transaction, the director directly owned 30,665 shares in the company, valued at $2,092,886.25. The trade was a 24.59% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO James Eric Bjornholt sold 7,356 shares of Microchip Technology stock in a transaction dated Monday, August 25th. The stock was sold at an average price of $68.72, for a total value of $505,504.32. Following the sale, the chief financial officer directly owned 30,010 shares of the company's stock, valued at approximately $2,062,287.20. This trade represents a 19.69% decrease in their position. The disclosure for this sale can be found here. 1.94% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several analysts have issued reports on the company. Evercore ISI boosted their target price on Microchip Technology from $69.00 to $83.00 and gave the company an "outperform" rating in a research note on Thursday, June 12th. Raymond James Financial boosted their target price on Microchip Technology from $65.00 to $75.00 and gave the company a "strong-buy" rating in a research note on Friday, August 8th. Wall Street Zen upgraded Microchip Technology from a "sell" rating to a "hold" rating in a research note on Friday, June 27th. Needham & Company LLC lifted their price target on Microchip Technology from $66.00 to $77.00 and gave the company a "buy" rating in a research report on Friday, August 8th. Finally, Rosenblatt Securities lifted their price target on Microchip Technology from $63.00 to $70.00 and gave the company a "buy" rating in a research report on Friday, May 30th. One research analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and six have given a Hold rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target 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.