Naples Global Advisors LLC Sells 15,650 Shares of Microchip Technology Incorporated $MCHP

Naples Global Advisors LLC decreased its holdings in Microchip Technology Incorporated (NASDAQ:MCHP) by 17.3% during the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 74,710 shares of the semiconductor company’s stock after selling 15,650 shares during the quarter. Naples Global Advisors LLC’s holdings in Microchip Technology were worth $5,257,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. MCF Advisors LLC raised its stake in Microchip Technology by 211.2% in the second quarter. MCF Advisors LLC now owns 473 shares of the semiconductor company’s stock valued at $33,000 after buying an additional 321 shares during the period. Carderock Capital Management Inc. bought a new stake in Microchip Technology in the second quarter valued at approximately $39,000. Painted Porch Advisors LLC bought a new stake in Microchip Technology in the second quarter valued at approximately $40,000. Garde Capital Inc. bought a new stake in Microchip Technology in the first quarter valued at approximately $30,000. Finally, WPG Advisers LLC bought a new stake in Microchip Technology in the first quarter valued at approximately $40,000. Institutional investors own 91.51% of the company’s stock.

Wall Street Analysts Forecast Growth

MCHP has been the topic of several research analyst reports. Piper Sandler upped 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. Cantor Fitzgerald began coverage on Microchip Technology in a research note on Wednesday, June 18th. They set a “neutral” rating and a $70.00 target price on the stock. Needham & Company LLC increased their target price on Microchip Technology from $66.00 to $77.00 and gave the stock a “buy” rating in a research note on Friday, August 8th. The Goldman Sachs Group began coverage on Microchip Technology in a research note on Thursday, July 10th. They set a “buy” rating and a $88.00 target price on the stock. Finally, Truist Financial increased their target price on Microchip Technology from $52.00 to $64.00 and gave the stock a “hold” rating in a research note on Wednesday, June 18th. One investment analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating and seven have assigned a Hold rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $75.75.

Insider Buying and Selling

In related news, CFO James Eric Bjornholt sold 7,356 shares of the stock in a transaction that occurred on Monday, August 25th. The stock was sold at an average price of $68.72, for a total transaction of $505,504.32. Following the sale, the chief financial officer owned 30,010 shares of the company’s stock, valued at $2,062,287.20. This represents a 19.69% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Matthew W. Chapman sold 10,000 shares of the stock in a transaction that occurred on Monday, August 25th. The stock was sold at an average price of $68.25, for a total value of $682,500.00. Following the sale, the director directly owned 30,665 shares in the company, valued at $2,092,886.25. This represents a 24.59% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 1.94% of the company’s stock.

Microchip Technology Trading Down 0.2%

Shares of NASDAQ:MCHP opened at $64.11 on Thursday. The company has a market capitalization of $34.60 billion, a P/E ratio of -188.56, a P/E/G ratio of 1.84 and a beta of 1.55. Microchip Technology Incorporated has a 1 year low of $34.13 and a 1 year high of $79.53. The company has a debt-to-equity ratio of 0.80, a current ratio of 2.31 and a quick ratio of 1.33. The business’s 50 day simple moving average is $65.76 and its 200 day simple moving average is $60.42.

Microchip Technology (NASDAQ:MCHP) last issued its quarterly earnings results on Thursday, August 7th. The semiconductor company reported $0.27 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.24 by $0.03. The business had revenue of $1.08 billion for the quarter, compared to the consensus estimate of $1.05 billion. Microchip Technology had a positive return on equity of 6.24% and a negative net margin of 3.50%.The firm’s quarterly revenue was down 13.3% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.53 earnings per share. Microchip Technology has set its Q2 2026 guidance at 0.340-0.370 EPS. On average, research analysts anticipate that Microchip Technology Incorporated will post 1.03 EPS for the current fiscal year.

Microchip Technology Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, September 5th. Investors of record on Friday, August 22nd were given a dividend of $0.455 per share. The ex-dividend date of this dividend was Friday, August 22nd. This represents a $1.82 dividend on an annualized basis and a yield of 2.8%. Microchip Technology’s dividend payout ratio is currently -535.29%.

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.