FORA Capital LLC Trims Stake in Microchip Technology Incorporated $MCHP

Key Points

• FORA Capital LLC has reduced its stake in Microchip Technology from 243,725 shares to 160,657 shares, representing a 34.1% decrease in the first quarter.
• Microchip Technology reported earnings of $0.27 per share for the latest quarter, surpassing expectations, but revenue decreased by 13.3% compared to the previous year.
• The company has announced a quarterly dividend of $0.455 per share, with a yield of 2.7%, to be paid to shareholders on September 5th.

FORA Capital LLC lowered its stake in Microchip Technology Incorporated (NASDAQ:MCHP - Free Report) by 34.1% in the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 160,657 shares of the semiconductor company's stock after selling 83,068 shares during the quarter. Microchip Technology accounts for 0.8% of FORA Capital LLC's portfolio, making the stock its 20th biggest position. FORA Capital LLC's holdings in Microchip Technology were worth $7,777,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Northwest Bank & Trust Co raised its holdings in Microchip Technology by 3.0% during the 4th quarter. Northwest Bank & Trust Co now owns 7,392 shares of the semiconductor company's stock valued at $424,000 after buying an additional 217 shares during the last quarter. Clearstead Trust LLC raised its stake in shares of Microchip Technology by 10.5% during the first quarter. Clearstead Trust LLC now owns 2,356 shares of the semiconductor company's stock valued at $114,000 after acquiring an additional 224 shares during the last quarter. Oregon Public Employees Retirement Fund raised its stake in shares of Microchip Technology by 0.5% during the first quarter. Oregon Public Employees Retirement Fund now owns 46,235 shares of the semiconductor company's stock valued at $2,238,000 after acquiring an additional 230 shares during the last quarter. Greenleaf Trust boosted its holdings in shares of Microchip Technology by 1.0% during the first quarter. Greenleaf Trust now owns 24,933 shares of the semiconductor company's stock worth $1,207,000 after purchasing an additional 242 shares during the period. Finally, Bartlett & CO. Wealth Management LLC grew its stake in shares of Microchip Technology by 3.4% in the first quarter. Bartlett & CO. Wealth Management LLC now owns 8,360 shares of the semiconductor company's stock worth $405,000 after purchasing an additional 276 shares during the last quarter. Institutional investors own 91.51% of the company's stock.

Insider Transactions at Microchip Technology

In other news, Director Matthew W. Chapman sold 10,000 shares of Microchip Technology stock in a transaction that occurred 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 completion of the sale, 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 sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO James Eric Bjornholt sold 7,356 shares of the firm's stock in a transaction that occurred on Monday, August 25th. The stock was 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 owned 30,010 shares in the company, valued at $2,062,287.20. This represents a 19.69% decrease in their position. The disclosure for this sale can be found here. Company insiders own 1.94% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on the company. Cantor Fitzgerald started coverage on Microchip Technology in a report on Wednesday, June 18th. They issued a "neutral" rating and a $70.00 price objective for the company. Needham & Company LLC raised their price target on Microchip Technology from $66.00 to $77.00 and gave the stock a "buy" rating in a research note on Friday, August 8th. Susquehanna lifted their price target on shares of Microchip Technology from $60.00 to $90.00 and gave the company a "positive" rating in a report on Tuesday, July 22nd. TD Cowen decreased their price objective on shares of Microchip Technology from $75.00 to $60.00 and set a "hold" rating for the company in a report on Friday, August 8th. Finally, Wall Street Zen raised shares of Microchip Technology from a "sell" rating to a "hold" rating in a research note on Friday, June 27th. 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's stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $76.58.

Microchip Technology Stock Down 2.1%

NASDAQ:MCHP traded down $1.40 during trading hours on Thursday, reaching $65.25. 13,996,951 shares of the company traded hands, compared to its average volume of 9,616,931. Microchip Technology Incorporated has a 1 year low of $34.13 and a 1 year high of $82.65. The stock has a market capitalization of $35.21 billion, a P/E ratio of -191.91, a P/E/G ratio of 1.93 and a beta of 1.55. The business's 50-day moving average price is $69.50 and its two-hundred day moving average price is $59.17. 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 (NASDAQ:MCHP - Get Free Report) last posted its quarterly earnings results on Thursday, August 7th. The semiconductor company reported $0.27 earnings per share (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 firm had revenue of $1.08 billion during the quarter, compared to analyst estimates of $1.05 billion. During the same quarter in the previous year, the firm earned $0.53 EPS. Microchip Technology'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. Analysts predict that Microchip Technology Incorporated will post 1.03 earnings per share for the current year.

Microchip Technology Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 5th. Stockholders of record on Friday, August 22nd will be issued a dividend of $0.455 per share. This represents a $1.82 dividend on an annualized basis and a dividend yield of 2.8%. The ex-dividend date of this dividend is Friday, August 22nd. Microchip Technology's dividend payout ratio is presently -535.29%.

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.