Dorsey & Whitney Trust CO LLC Increases Stock Holdings in Microchip Technology Incorporated $MCHP

Dorsey & Whitney Trust CO LLC raised its position in Microchip Technology Incorporated (NASDAQ:MCHP) by 80.6% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 8,994 shares of the semiconductor company’s stock after acquiring an additional 4,014 shares during the quarter. Dorsey & Whitney Trust CO LLC’s holdings in Microchip Technology were worth $633,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in MCHP. Sagespring Wealth Partners LLC grew its holdings in shares of Microchip Technology by 2.7% in the second quarter. Sagespring Wealth Partners LLC now owns 5,787 shares of the semiconductor company’s stock valued at $407,000 after purchasing an additional 154 shares in the last quarter. Mechanics Financial Corp lifted its holdings in Microchip Technology by 3.4% during the 2nd quarter. Mechanics Financial Corp now owns 5,014 shares of the semiconductor company’s stock worth $353,000 after buying an additional 167 shares in the last quarter. Global X Japan Co. Ltd. boosted its position in Microchip Technology by 0.4% in the 2nd quarter. Global X Japan Co. Ltd. now owns 45,705 shares of the semiconductor company’s stock valued at $3,216,000 after buying an additional 174 shares during the period. Bank of Jackson Hole Trust grew its stake in shares of Microchip Technology by 2.0% in the second quarter. Bank of Jackson Hole Trust now owns 8,828 shares of the semiconductor company’s stock worth $621,000 after acquiring an additional 174 shares in the last quarter. Finally, Pinnacle Bancorp Inc. increased its position in shares of Microchip Technology by 18.9% during the second quarter. Pinnacle Bancorp Inc. now owns 1,206 shares of the semiconductor company’s stock worth $85,000 after acquiring an additional 192 shares during the period. Institutional investors and hedge funds own 91.51% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on MCHP shares. Needham & Company LLC decreased their target price on Microchip Technology from $77.00 to $73.00 and set a “buy” rating for the company in a report on Friday, November 7th. Piper Sandler lifted their price objective on Microchip Technology from $65.00 to $80.00 and gave the company an “overweight” rating in a research note on Friday, August 8th. Susquehanna cut their target price on shares of Microchip Technology from $85.00 to $75.00 and set a “positive” rating on the stock in a research note on Friday, November 7th. Stifel Nicolaus reduced their target price on shares of Microchip Technology from $82.00 to $75.00 and set a “buy” rating on the stock in a report on Friday, November 7th. Finally, Truist Financial reiterated a “hold” rating and set a $60.00 price target (down previously from $64.00) on shares of Microchip Technology in a report on Friday, November 7th. One analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating, seven have issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, Microchip Technology currently has a consensus rating of “Moderate Buy” and an average price target of $73.47.

Insider Buying and Selling at Microchip Technology

In other Microchip Technology news, CFO James Eric Bjornholt sold 7,356 shares of the firm’s stock in a transaction dated Monday, August 25th. The stock was sold at an average price of $68.72, for a total transaction of $505,504.32. Following the transaction, the chief financial officer owned 30,010 shares of the company’s stock, valued at approximately $2,062,287.20. This trade represents a 19.69% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Matthew W. Chapman sold 10,000 shares of the business’s stock in a transaction dated 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 of the company’s stock, valued at $2,092,886.25. The trade was a 24.59% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Corporate insiders own 1.94% of the company’s stock.

Microchip Technology Price Performance

MCHP stock opened at $50.87 on Wednesday. The business has a 50 day moving average price of $62.73 and a 200 day moving average price of $64.76. The company has a quick ratio of 1.33, a current ratio of 2.31 and a debt-to-equity ratio of 0.80. The stock has a market cap of $27.49 billion, a price-to-earnings ratio of -149.62, a PEG ratio of 1.79 and a beta of 1.57. Microchip Technology Incorporated has a fifty-two week low of $34.13 and a fifty-two week high of $77.20.

Microchip Technology (NASDAQ:MCHP) last released its quarterly earnings data on Thursday, November 6th. The semiconductor company reported $0.35 earnings per share for the quarter, topping analysts’ consensus estimates of $0.33 by $0.02. The company had revenue of $1.14 billion for the quarter, compared to analysts’ expectations of $1.13 billion. Microchip Technology had a negative net margin of 3.50% and a positive return on equity of 6.24%. The firm’s revenue for the quarter was down 2.0% on a year-over-year basis. During the same quarter last year, the company earned $0.46 earnings per share. Microchip Technology has set its Q3 2026 guidance at 0.340-0.400 EPS. Equities research analysts anticipate that Microchip Technology Incorporated will post 1.03 earnings per share for the current fiscal year.

Microchip Technology Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 9th. Investors of record on Monday, November 24th will be given a $0.455 dividend. The ex-dividend date of this dividend is Monday, November 24th. This represents a $1.82 dividend on an annualized basis and a yield of 3.6%. Microchip Technology’s payout ratio is -404.44%.

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.