Prospera Financial Services Inc Sells 28,144 Shares of Microchip Technology Incorporated $MCHP

Key Points

• Prospera Financial Services cut its Microchip Technology stake by 31.9% in the fourth quarter, selling 28,144 shares and ending with 59,949 shares valued at about $3.82 million.
• Microchip Technology reported strong quarterly results, with EPS of $0.57 beating estimates and revenue of $1.31 billion topping expectations, while revenue rose 35.1% from a year earlier.
• Analysts remain broadly positive on MCHP, with a consensus rating of Moderate Buy and an average price target of $97.52, even as insiders have also been selling shares recently.

Prospera Financial Services Inc decreased its position in Microchip Technology Incorporated (NASDAQ:MCHP - Free Report) by 31.9% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 59,949 shares of the semiconductor company's stock after selling 28,144 shares during the quarter. Prospera Financial Services Inc's holdings in Microchip Technology were worth $3,820,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in the company. Millstone Evans Group LLC raised its holdings in Microchip Technology by 23.7% in the fourth quarter. Millstone Evans Group LLC now owns 742 shares of the semiconductor company's stock worth $47,000 after purchasing an additional 142 shares in the last quarter. Verdence Capital Advisors LLC raised its holdings in Microchip Technology by 2.2% in the fourth quarter. Verdence Capital Advisors LLC now owns 7,120 shares of the semiconductor company's stock worth $454,000 after purchasing an additional 150 shares in the last quarter. Soltis Investment Advisors LLC raised its holdings in Microchip Technology by 0.7% in the fourth quarter. Soltis Investment Advisors LLC now owns 22,469 shares of the semiconductor company's stock worth $1,432,000 after purchasing an additional 155 shares in the last quarter. Bouchey Financial Group Ltd raised its holdings in Microchip Technology by 4.4% in the fourth quarter. Bouchey Financial Group Ltd now owns 3,771 shares of the semiconductor company's stock worth $240,000 after purchasing an additional 159 shares in the last quarter. Finally, Intrua Financial LLC raised its holdings in Microchip Technology by 4.6% in the fourth quarter. Intrua Financial LLC now owns 3,669 shares of the semiconductor company's stock worth $234,000 after purchasing an additional 161 shares in the last quarter. Institutional investors own 91.51% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on MCHP shares. JPMorgan Chase & Co. increased their price objective on Microchip Technology from $95.00 to $120.00 and gave the stock an "overweight" rating in a report on Friday, May 8th. Stifel Nicolaus set a $90.00 price objective on Microchip Technology in a report on Friday, February 6th. Truist Financial increased their price objective on Microchip Technology from $69.00 to $105.00 and gave the stock a "hold" rating in a report on Friday, May 8th. Susquehanna increased their price objective on Microchip Technology from $95.00 to $120.00 and gave the stock a "positive" rating in a report on Friday, May 8th. Finally, Mizuho raised their price target on Microchip Technology from $83.00 to $90.00 and gave the company an "outperform" rating in a report on Friday, February 6th. Four research analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and seven have issued a Hold rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $97.52.

Microchip Technology Price Performance

Shares of NASDAQ:MCHP opened at $93.43 on Tuesday. Microchip Technology Incorporated has a 1-year low of $48.52 and a 1-year high of $105.91. The company has a debt-to-equity ratio of 0.85, a current ratio of 2.09 and a quick ratio of 1.18. The business has a fifty day moving average price of $79.42 and a 200-day moving average price of $71.84. The company has a market capitalization of $50.56 billion, a PE ratio of 444.93, a PEG ratio of 0.98 and a beta of 1.75.

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

Microchip Technology Announces Dividend

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

Insider Buying and Selling at Microchip Technology

In related news, Director Matthew W. Chapman sold 10,000 shares of the stock in a transaction 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 directly owned 20,665 shares of the company's stock, valued at $1,973,094.20. This trade represents a 32.61% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Steve Sanghi sold 76,469 shares of the stock in a transaction on Friday, May 1st. The shares were sold at an average price of $93.58, for a total value of $7,155,969.02. Following 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 disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 536,635 shares of company stock worth $48,093,054 over the last ninety days. 1.94% of the stock is currently owned by insiders.

Microchip Technology Company Profile

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.

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