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

First Merchants Corp lessened its position in Microchip Technology Incorporated (NASDAQ:MCHP) by 45.1% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 6,987 shares of the semiconductor company’s stock after selling 5,742 shares during the quarter. First Merchants Corp’s holdings in Microchip Technology were worth $451,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Wolverine Asset Management LLC increased its position in Microchip Technology by 3,833.7% during the fourth quarter. Wolverine Asset Management LLC now owns 37,921 shares of the semiconductor company’s stock worth $2,416,000 after acquiring an additional 36,957 shares during the period. Vienna Powszechne Towarzystwo Emerytalne S.A. Vienna Insurance Group acquired a new position in Microchip Technology during the 4th quarter valued at $6,691,000. Natixis Advisors LLC boosted its holdings in Microchip Technology by 18.7% in the 3rd quarter. Natixis Advisors LLC now owns 1,233,018 shares of the semiconductor company’s stock valued at $79,184,000 after purchasing an additional 194,048 shares during the period. Epoch Investment Partners Inc. grew its position in Microchip Technology by 16.5% in the 4th quarter. Epoch Investment Partners Inc. now owns 1,349,136 shares of the semiconductor company’s stock worth $85,967,000 after purchasing an additional 191,339 shares during the last quarter. Finally, Peregrine Investment Management Inc. acquired a new stake in Microchip Technology in the 1st quarter worth $5,492,000. Institutional investors and hedge funds own 91.51% of the company’s stock.

Microchip Technology Stock Performance

Microchip Technology stock opened at $102.71 on Tuesday. The stock has a 50-day simple moving average of $91.54 and a 200 day simple moving average of $77.70. The stock has a market capitalization of $55.68 billion, a price-to-earnings ratio of 489.12, a P/E/G ratio of 1.04 and a beta of 1.73. The company has a quick ratio of 1.18, a current ratio of 2.09 and a debt-to-equity ratio of 0.85. Microchip Technology Incorporated has a 12-month low of $48.52 and a 12-month high of $105.91.

Microchip Technology (NASDAQ:MCHP) last issued its quarterly earnings data on Thursday, May 7th. The semiconductor company reported $0.57 EPS for the quarter, topping analysts’ consensus estimates of $0.50 by $0.07. The firm had revenue of $1.31 billion for the quarter, compared to analyst estimates of $1.26 billion. Microchip Technology had a net margin of 4.88% and a return on equity of 10.87%. The company’s revenue was up 35.1% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.11 EPS. Microchip Technology has set its Q1 2027 guidance at 0.670-0.710 EPS. On average, research analysts anticipate that Microchip Technology Incorporated will post 2.59 earnings per share for the current fiscal year.

Microchip Technology Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, June 5th. Investors of record on Friday, May 22nd were issued 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 dividend yield of 1.8%. Microchip Technology’s dividend payout ratio (DPR) is currently 866.67%.

Insider Activity at Microchip Technology

In related news, Director Matthew W. Chapman sold 3,000 shares of the business’s stock in a transaction that occurred on Thursday, May 28th. The shares were sold at an average price of $97.52, for a total value of $292,560.00. Following the completion of the transaction, the director owned 17,665 shares in the company, valued at $1,722,690.80. The trade was a 14.52% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Steve Sanghi sold 76,469 shares of the company’s stock in a transaction on Friday, May 1st. The stock was sold at an average price of $93.58, for a total value of $7,155,969.02. Following the transaction, the chief executive officer directly owned 9,385,834 shares in the company, valued at approximately $878,326,345.72. This represents a 0.81% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders sold 553,302 shares of company stock worth $49,673,635. 1.94% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several research analysts have recently issued reports on MCHP shares. Weiss Ratings upgraded shares of Microchip Technology from a “hold (c-)” rating to a “hold (c)” rating in a report on Thursday, June 4th. Citigroup increased their price objective on Microchip Technology from $91.00 to $113.00 and gave the stock a “buy” rating in a research note on Friday, May 8th. Barclays upped their price objective on shares of Microchip Technology from $80.00 to $105.00 and gave the stock an “equal weight” rating in a research note on Monday, May 11th. Truist Financial raised their price objective on shares of Microchip Technology from $69.00 to $105.00 and gave the stock a “hold” rating in a report on Friday, May 8th. Finally, JPMorgan Chase & Co. lifted their target price on shares of Microchip Technology from $95.00 to $120.00 and gave the company an “overweight” rating in a research note on Friday, May 8th. Four investment analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and seven have given a Hold rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $98.18.

Microchip Technology 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.