First National Bank of Omaha Sells 15,104 Shares of Microchip Technology Incorporated $MCHP

First National Bank of Omaha cut its position in Microchip Technology Incorporated (NASDAQ:MCHP) by 27.7% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 39,487 shares of the semiconductor company’s stock after selling 15,104 shares during the period. First National Bank of Omaha’s holdings in Microchip Technology were worth $3,601,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently modified their holdings of MCHP. Norges Bank purchased a new stake in shares of Microchip Technology during the 4th quarter worth approximately $664,564,000. Barclays PLC raised its holdings in Microchip Technology by 66.5% during the 4th quarter. Barclays PLC now owns 13,996,883 shares of the semiconductor company’s stock valued at $891,881,000 after buying an additional 5,590,210 shares during the period. Rafferty Asset Management LLC boosted its holdings in Microchip Technology by 41.0% during the 2nd quarter. Rafferty Asset Management LLC now owns 6,203,762 shares of the semiconductor company’s stock valued at $436,559,000 after acquiring an additional 1,803,945 shares during the period. Ameriprise Financial Inc. grew its position in Microchip Technology by 255.7% in the 2nd quarter. Ameriprise Financial Inc. now owns 2,135,140 shares of the semiconductor company’s stock valued at $150,271,000 after acquiring an additional 1,534,829 shares during the last quarter. Finally, Worldquant Millennium Advisors LLC bought a new position in Microchip Technology in the 2nd quarter valued at $101,359,000. Institutional investors own 91.51% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on MCHP. Wall Street Zen upgraded Microchip Technology from a “hold” rating to a “buy” rating in a report on Saturday, May 9th. Susquehanna upped their price target on shares of Microchip Technology from $95.00 to $120.00 and gave the stock a “positive” rating in a research report on Friday, May 8th. Wells Fargo & Company cut their price target on Microchip Technology from $95.00 to $88.00 and set an “equal weight” rating on the stock in a report on Monday, July 20th. Citigroup reduced their price target on Microchip Technology from $113.00 to $95.00 and set a “buy” rating for the company in a research report on Friday, August 7th. Finally, Rosenblatt Securities restated a “buy” rating and set a $120.00 price objective on shares of Microchip Technology in a research note on Friday, August 7th. Three equities research analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating and seven have assigned a Hold rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $98.85.

Insider Buying and Selling at Microchip Technology

In other news, Director Matthew W. Chapman sold 3,000 shares of the business’s stock in a transaction dated Thursday, May 28th. The stock was sold at an average price of $97.52, for a total transaction of $292,560.00. Following the sale, the director owned 17,665 shares in the company, valued at approximately $1,722,690.80. The trade was a 14.52% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO James Eric Bjornholt sold 3,667 shares of the stock in a transaction that occurred on Friday, May 22nd. The shares were sold at an average price of $90.87, for a total transaction of $333,220.29. Following the completion of the transaction, the chief financial officer directly owned 28,573 shares of the company’s stock, valued at $2,596,428.51. The trade was a 11.37% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders sold 16,667 shares of company stock worth $1,580,580. 1.79% of the stock is owned by insiders.

Microchip Technology Trading Down 2.6%

NASDAQ:MCHP opened at $78.19 on Wednesday. The stock has a market capitalization of $42.46 billion, a price-to-earnings ratio of 116.70, a PEG ratio of 0.62 and a beta of 1.76. Microchip Technology Incorporated has a 52 week low of $48.52 and a 52 week high of $105.91. The company has a quick ratio of 1.11, a current ratio of 1.92 and a debt-to-equity ratio of 0.83. The firm has a 50 day moving average of $85.23 and a 200 day moving average of $81.54.

Microchip Technology (NASDAQ:MCHP) last released its quarterly earnings results on Thursday, August 6th. The semiconductor company reported $0.76 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.70 by $0.06. The business had revenue of $1.48 billion for the quarter, compared to analyst estimates of $1.46 billion. Microchip Technology had a net margin of 9.34% and a return on equity of 14.97%. The business’s revenue for the quarter was up 38.0% on a year-over-year basis. During the same period in the previous year, the company earned $0.27 earnings per share. Microchip Technology has set its Q2 2027 guidance at 0.910-0.950 EPS. As a group, sell-side analysts anticipate that Microchip Technology Incorporated will post 3.16 earnings per share for the current fiscal year.

Microchip Technology Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 9th. Investors of record on Monday, August 24th will be given a dividend of $0.455 per share. This represents a $1.82 annualized dividend and a yield of 2.3%. The ex-dividend date of this dividend is Monday, August 24th. Microchip Technology’s dividend payout ratio is currently 271.64%.

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.