Forvis Mazars Wealth Advisors LLC Sells 5,281 Shares of Microchip Technology Incorporated $MCHP

Key Points

• Forvis Mazars Wealth Advisors LLC reduced its stake in Microchip Technology by 12.1%, owning 38,543 shares valued at $1,866,000 after selling 5,281 shares.
• First Citizens Bank & Trust Co. significantly increased its stake in Microchip Technology by 468.2% during the same quarter, acquiring an additional 60,760 shares.
• Microchip Technology announced a quarterly dividend of $0.455, with a yield of 2.8%, payable on September 5th for shareholders of record as of August 22nd.

Forvis Mazars Wealth Advisors LLC lowered its position in shares of Microchip Technology Incorporated (NASDAQ:MCHP - Free Report) by 12.1% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 38,543 shares of the semiconductor company's stock after selling 5,281 shares during the quarter. Forvis Mazars Wealth Advisors LLC's holdings in Microchip Technology were worth $1,866,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. First Citizens Bank & Trust Co. boosted its stake in shares of Microchip Technology by 468.2% during the 1st quarter. First Citizens Bank & Trust Co. now owns 73,737 shares of the semiconductor company's stock worth $3,570,000 after acquiring an additional 60,760 shares in the last quarter. Everhart Financial Group Inc. bought a new stake in shares of Microchip Technology during the 1st quarter worth $221,000. Texas Bank & Trust Co bought a new stake in shares of Microchip Technology during the 4th quarter worth $792,000. Czech National Bank boosted its stake in shares of Microchip Technology by 6.1% during the 1st quarter. Czech National Bank now owns 123,528 shares of the semiconductor company's stock worth $5,980,000 after acquiring an additional 7,093 shares in the last quarter. Finally, Sowell Financial Services LLC bought a new stake in shares of Microchip Technology during the 1st quarter worth $318,000. 91.51% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several analysts have recently commented on the company. Stifel Nicolaus raised their target price on Microchip Technology from $70.00 to $82.00 and gave the stock a "buy" rating in a research report on Friday, July 18th. Evercore ISI raised their target price on Microchip Technology from $69.00 to $83.00 and gave the stock an "outperform" rating in a research report on Thursday, June 12th. Truist Financial raised their target price 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 assumed coverage on Microchip Technology in a research report on Wednesday, June 18th. They issued a "neutral" rating and a $70.00 target price for the company. Finally, TD Cowen decreased their target price on Microchip Technology from $75.00 to $60.00 and set a "hold" rating for the company in a research report on Friday, August 8th. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating and six have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $76.58.

Microchip Technology Stock Performance

Shares of NASDAQ:MCHP traded down $0.66 during midday trading on Thursday, hitting $66.10. The company's stock had a trading volume of 5,930,549 shares, compared to its average volume of 10,411,628. The stock has a market capitalization of $35.67 billion, a price-to-earnings ratio of -194.41, a PEG ratio of 1.87 and a beta of 1.55. The stock's 50 day simple moving average is $69.54 and its 200 day simple moving average is $58.56. Microchip Technology Incorporated has a fifty-two week low of $34.13 and a fifty-two week high of $82.65. The company has a debt-to-equity ratio of 0.80, a quick ratio of 1.33 and a current ratio of 2.31.

Microchip Technology (NASDAQ:MCHP - Get Free Report) last released 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 positive return on equity of 6.24% and a negative net margin of 3.50%.The company had revenue of $1.08 billion for the quarter, compared to the consensus estimate of $1.05 billion. During the same period in the previous year, the business earned $0.53 earnings per share. The company's quarterly 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. As a group, research analysts anticipate 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 will be paid on Friday, September 5th. Shareholders of record on Friday, August 22nd will be given a dividend of $0.455 per share. The ex-dividend date is Friday, August 22nd. This represents a $1.82 annualized dividend and a dividend yield of 2.8%. Microchip Technology's payout ratio is presently -535.29%.

Insider Activity at Microchip Technology

In other news, CFO James Eric Bjornholt sold 2,015 shares of the business's stock in a transaction on Friday, May 23rd. The shares were sold at an average price of $55.78, for a total value of $112,396.70. Following the completion of the transaction, the chief financial officer owned 34,313 shares of the company's stock, valued at $1,913,979.14. The trade was a 5.55% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 1.94% of the company's stock.

Microchip Technology Company 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.