First Merchants Corp Has $451,000 Stock Holdings in Microchip Technology Incorporated $MCHP

First Merchants Corp lowered its stake in Microchip Technology Incorporated (NASDAQ:MCHP) by 45.1% during the first quarter, HoldingsChannel.com reports. The firm owned 6,987 shares of the semiconductor company’s stock after selling 5,742 shares during the period. First Merchants Corp’s holdings in Microchip Technology were worth $451,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. MCF Advisors LLC grew its stake in shares of Microchip Technology by 25.8% during the fourth quarter. MCF Advisors LLC now owns 659 shares of the semiconductor company’s stock worth $42,000 after purchasing an additional 135 shares during the period. Gagnon Securities LLC lifted its stake in Microchip Technology by 0.5% in the fourth quarter. Gagnon Securities LLC now owns 27,162 shares of the semiconductor company’s stock valued at $1,731,000 after buying an additional 137 shares during the period. Evelyn Partners Investment Management LLP boosted its holdings in Microchip Technology by 1.5% during the fourth quarter. Evelyn Partners Investment Management LLP now owns 9,300 shares of the semiconductor company’s stock worth $593,000 after buying an additional 140 shares during the last quarter. Millstone Evans Group LLC boosted its holdings in Microchip Technology by 23.7% during the fourth quarter. Millstone Evans Group LLC now owns 742 shares of the semiconductor company’s stock worth $47,000 after buying an additional 142 shares during the last quarter. Finally, Dorsey & Whitney Trust CO LLC grew its position in shares of Microchip Technology by 1.6% during the 4th quarter. Dorsey & Whitney Trust CO LLC now owns 8,973 shares of the semiconductor company’s stock worth $572,000 after buying an additional 143 shares during the period. 91.51% of the stock is currently owned by institutional investors.

Insider Activity at Microchip Technology

In other news, Director Matthew W. Chapman sold 10,000 shares of the company’s stock in a transaction that occurred on Friday, May 15th. The shares were sold at an average price of $95.48, for a total value of $954,800.00. Following the completion of the transaction, the director owned 20,665 shares in the company, valued at $1,973,094.20. This represents a 32.61% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Steve Sanghi sold 416,581 shares of the stock in a transaction on Thursday, April 23rd. The stock was sold at an average price of $88.53, for a total transaction of $36,879,915.93. Following the sale, the chief executive officer directly owned 9,495,805 shares of the company’s stock, valued at $840,663,616.65. This represents a 4.20% decrease in their position. 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. In the last three months, insiders sold 553,302 shares of company stock worth $49,673,635. Corporate insiders own 1.94% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on MCHP. UBS Group reaffirmed a “buy” rating on shares of Microchip Technology in a research note on Tuesday, June 2nd. Rosenblatt Securities lifted their price objective on shares of Microchip Technology from $115.00 to $120.00 and gave the stock a “buy” rating in a research note on Friday, May 8th. Barclays boosted their price objective on shares of Microchip Technology from $80.00 to $105.00 and gave the company an “equal weight” rating in a report on Monday, May 11th. Wall Street Zen raised shares of Microchip Technology from a “hold” rating to a “buy” rating in a research note on Saturday, May 9th. Finally, Wells Fargo & Company increased their target price on shares of Microchip Technology from $75.00 to $95.00 and gave the stock an “equal weight” rating in a report on Friday, May 8th. Four analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating and seven have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $98.18.

Microchip Technology Stock Up 2.9%

Shares of Microchip Technology stock opened at $102.71 on Tuesday. Microchip Technology Incorporated has a 1 year low of $48.52 and a 1 year high of $105.91. The business has a 50-day moving average of $91.54 and a two-hundred day moving average of $77.70. The company has a market capitalization of $55.68 billion, a P/E ratio of 489.12, a price-to-earnings-growth ratio of 1.04 and a beta of 1.73. The company has a debt-to-equity ratio of 0.85, a current ratio of 2.09 and a quick ratio of 1.18.

Microchip Technology (NASDAQ:MCHP) last released its quarterly earnings data on Thursday, May 7th. The semiconductor company reported $0.57 earnings per share 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 business had revenue of $1.31 billion for the quarter, compared to analysts’ expectations of $1.26 billion. During the same quarter in the previous year, the business posted $0.11 EPS. Microchip Technology’s revenue for the quarter was up 35.1% on a year-over-year basis. Microchip Technology has set its Q1 2027 guidance at 0.670-0.710 EPS. As a group, equities analysts predict that Microchip Technology Incorporated will post 2.59 EPS for the current year.

Microchip Technology Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, June 5th. Shareholders of record on Friday, May 22nd were paid a $0.455 dividend. The ex-dividend date of this dividend was Friday, May 22nd. This represents a $1.82 dividend on an annualized basis and a yield of 1.8%. Microchip Technology’s payout ratio is presently 866.67%.

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.