US Bancorp DE Has $29.25 Million Stock Holdings in Microchip Technology Incorporated $MCHP

Key Points

• US Bancorp DE reduced its holdings in Microchip Technology by 6.0%, now owning approximately 415,585 shares valued at $29.25 million.
• Microchip Technology's stock has experienced a mixed rating from analysts, with a consensus of Moderate Buy and an average price target of $75.75.
• Despite reporting earnings per share of $0.27, which surpassed estimates, Microchip's revenue declined by 13.3% year-over-year.

US Bancorp DE trimmed its position in Microchip Technology Incorporated (NASDAQ:MCHP - Free Report) by 6.0% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 415,585 shares of the semiconductor company's stock after selling 26,352 shares during the period. US Bancorp DE owned approximately 0.08% of Microchip Technology worth $29,245,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Everhart Financial Group Inc. acquired a new stake in shares of Microchip Technology in the 1st quarter valued at approximately $221,000. Sowell Financial Services LLC acquired a new stake in shares of Microchip Technology in the 1st quarter valued at approximately $318,000. Oppenheimer Asset Management Inc. raised its holdings in Microchip Technology by 35.8% during the 1st quarter. Oppenheimer Asset Management Inc. now owns 33,554 shares of the semiconductor company's stock worth $1,624,000 after buying an additional 8,843 shares during the period. Flagship Harbor Advisors LLC raised its holdings in Microchip Technology by 67.3% during the 1st quarter. Flagship Harbor Advisors LLC now owns 16,098 shares of the semiconductor company's stock worth $779,000 after buying an additional 6,474 shares during the period. Finally, Argonautica Private Wealth Management Inc. acquired a new stake in Microchip Technology during the 1st quarter worth approximately $428,000. 91.51% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several analysts have commented on the stock. Zacks Research downgraded shares of Microchip Technology from a "strong-buy" rating to a "hold" rating in a report on Monday, August 18th. Wells Fargo & Company assumed coverage on shares of Microchip Technology in a report on Monday, September 15th. They set an "equal weight" rating and a $60.00 target price on the stock. UBS Group raised their target price on shares of Microchip Technology from $65.00 to $85.00 and gave the stock a "buy" rating in a report on Monday, July 7th. Weiss Ratings restated a "sell (d+)" rating on shares of Microchip Technology in a report on Wednesday. Finally, The Goldman Sachs Group assumed coverage on shares of Microchip Technology in a report on Thursday, July 10th. They set a "buy" rating and a $88.00 target price on the stock. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating, seven have assigned a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat, Microchip Technology has an average rating of "Moderate Buy" and an average price target of $75.75.

Microchip Technology Price Performance

NASDAQ MCHP opened at $60.41 on Friday. The company has a quick ratio of 1.33, a current ratio of 2.31 and a debt-to-equity ratio of 0.80. Microchip Technology Incorporated has a 12-month low of $34.13 and a 12-month high of $79.44. The company has a market capitalization of $32.60 billion, a PE ratio of -177.68, a price-to-earnings-growth ratio of 1.89 and a beta of 1.55. The firm's 50 day moving average is $65.26 and its 200-day moving average is $61.00.

Microchip Technology (NASDAQ:MCHP - Get Free Report) last posted its quarterly earnings data on Thursday, August 7th. The semiconductor company reported $0.27 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.24 by $0.03. Microchip Technology had a negative net margin of 3.50% and a positive return on equity of 6.24%. The company had revenue of $1.08 billion for the quarter, compared to the consensus estimate of $1.05 billion. During the same period last year, the company earned $0.53 earnings per share. The firm's 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. Equities research analysts anticipate that Microchip Technology Incorporated will post 1.03 earnings per share for the current fiscal year.

Microchip Technology Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, September 5th. Shareholders of record on Friday, August 22nd were paid a $0.455 dividend. The ex-dividend date was Friday, August 22nd. This represents a $1.82 dividend on an annualized basis and a yield of 3.0%. Microchip Technology's dividend payout ratio (DPR) is currently -535.29%.

Insiders Place Their Bets

In other Microchip Technology news, CFO James Eric Bjornholt sold 7,356 shares of the stock in a transaction on Monday, August 25th. The shares were sold at an average price of $68.72, for a total value 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 trade represents a 19.69% 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, Director Matthew W. Chapman sold 10,000 shares of the stock in a transaction on Monday, August 25th. The shares were sold at an average price of $68.25, for a total transaction of $682,500.00. Following the completion of the sale, the director owned 30,665 shares of the company's stock, valued at approximately $2,092,886.25. This represents a 24.59% decrease in their position. The disclosure for this sale can be found here. Company 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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