First United Bank & Trust Sells 7,850 Shares of Microchip Technology Incorporated $MCHP

Key Points

• First United Bank & Trust has reduced its holdings in Microchip Technology (MCHP) by 34.1%, selling 7,850 shares and bringing its total to 15,144 shares valued at approximately $1,066,000.
• Multiple analysts have recently adjusted their price targets for Microchip Technology, with Susquehanna raising its target from $60.00 to $90.00, while UBS increased theirs from $65.00 to $85.00.
• Microchip Technology recently reported a quarterly EPS of $0.27, surpassing analyst estimates and showing a revenue of $1.08 billion despite a year-over-year decline of 13.3% in revenue.

First United Bank & Trust lessened its holdings in shares of Microchip Technology Incorporated (NASDAQ:MCHP - Free Report) by 34.1% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 15,144 shares of the semiconductor company's stock after selling 7,850 shares during the period. First United Bank & Trust's holdings in Microchip Technology were worth $1,066,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of MCHP. First Citizens Bank & Trust Co. boosted its holdings 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 Microchip Technology in the 1st quarter valued at $221,000. Czech National Bank boosted its stake in Microchip Technology by 6.1% in the 1st quarter. Czech National Bank now owns 123,528 shares of the semiconductor company's stock worth $5,980,000 after purchasing an additional 7,093 shares during the period. Sowell Financial Services LLC bought a new position in Microchip Technology during the 1st quarter worth about $318,000. Finally, Thompson Investment Management Inc. raised its stake in shares of Microchip Technology by 9.9% in the 1st quarter. Thompson Investment Management Inc. now owns 91,016 shares of the semiconductor company's stock valued at $4,406,000 after purchasing an additional 8,175 shares during the period. 91.51% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research analysts have recently weighed in on MCHP shares. Cantor Fitzgerald assumed coverage on Microchip Technology in a research report on Wednesday, June 18th. They set a "neutral" rating and a $70.00 price objective for the company. Susquehanna raised their price target on shares of Microchip Technology from $60.00 to $90.00 and gave the stock a "positive" rating in a research note on Tuesday, July 22nd. Zacks Research downgraded shares of Microchip Technology from a "strong-buy" rating to a "hold" rating in a report on Monday, August 18th. Raymond James Financial increased their target price on shares of Microchip Technology from $65.00 to $75.00 and gave the stock a "strong-buy" rating in a report on Friday, August 8th. Finally, UBS Group lifted their price target on shares of Microchip Technology from $65.00 to $85.00 and gave the company a "buy" rating in a research note on Monday, July 7th. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and seven have issued a Hold rating to the company. According to data from MarketBeat, Microchip Technology has a consensus rating of "Moderate Buy" and an average price target of $75.75.

Microchip Technology Price Performance

Shares of NASDAQ MCHP opened at $64.07 on Tuesday. The firm has a market cap of $34.58 billion, a P/E ratio of -188.44, a price-to-earnings-growth ratio of 1.85 and a beta of 1.56. The business's 50 day moving average is $66.10 and its 200-day moving average is $60.37. The company has a current ratio of 2.31, a quick ratio of 1.33 and a debt-to-equity ratio of 0.80. Microchip Technology Incorporated has a 1-year low of $34.13 and a 1-year high of $80.42.

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

Microchip Technology Dividend Announcement

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

Insider Buying and Selling

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

About Microchip Technology

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.

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