Microchip Technology Incorporated $MCHP Stake Cut by Franklin Street Advisors Inc. NC

Franklin Street Advisors Inc. NC reduced its holdings in Microchip Technology Incorporated (NASDAQ:MCHP) by 47.9% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,209 shares of the semiconductor company’s stock after selling 3,863 shares during the period. Franklin Street Advisors Inc. NC’s holdings in Microchip Technology were worth $296,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. First Citizens Bank & Trust Co. lifted its stake in Microchip Technology by 468.2% in the 1st quarter. First Citizens Bank & Trust Co. now owns 73,737 shares of the semiconductor company’s stock worth $3,570,000 after acquiring an additional 60,760 shares in the last quarter. Everhart Financial Group Inc. acquired a new position in shares of Microchip Technology during the 1st quarter valued at about $221,000. Sowell Financial Services LLC acquired a new stake in Microchip Technology in the 1st quarter valued at approximately $318,000. Thompson Investment Management Inc. grew its holdings in Microchip Technology by 9.9% in the 1st quarter. Thompson Investment Management Inc. now owns 91,016 shares of the semiconductor company’s stock valued at $4,406,000 after buying an additional 8,175 shares during the last quarter. Finally, Oppenheimer Asset Management Inc. grew its holdings in Microchip Technology by 35.8% in the 1st quarter. Oppenheimer Asset Management Inc. now owns 33,554 shares of the semiconductor company’s stock valued at $1,624,000 after buying an additional 8,843 shares during the last quarter. 91.51% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Microchip Technology

In related news, CFO James Eric Bjornholt sold 7,356 shares of the stock in a transaction on Monday, August 25th. The stock was sold at an average price of $68.72, for a total value of $505,504.32. Following the sale, the chief financial officer owned 30,010 shares in the company, 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 filing with the SEC, which is accessible through the SEC website. Also, Director Matthew W. Chapman sold 10,000 shares of the stock in a transaction on 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 transaction, the director directly owned 30,665 shares in the company, valued at approximately $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.

Analyst Ratings Changes

Several analysts have recently weighed in on MCHP shares. Cantor Fitzgerald started coverage on Microchip Technology in a report on Wednesday, June 18th. They set a “neutral” rating and a $70.00 price objective on the stock. Wells Fargo & Company began coverage on Microchip Technology in a research report on Monday, September 15th. They issued an “equal weight” rating and a $60.00 price objective for the company. Stifel Nicolaus boosted their target price on Microchip Technology from $70.00 to $82.00 and gave the stock a “buy” rating in a research report on Friday, July 18th. Piper Sandler upped their price objective on Microchip Technology from $65.00 to $80.00 and gave the company an “overweight” rating in a report on Friday, August 8th. Finally, Mizuho increased their price objective on Microchip Technology from $78.00 to $85.00 and gave the stock an “outperform” rating in a report on Tuesday, July 8th. One analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating, seven have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, Microchip Technology currently has an average rating of “Moderate Buy” and an average price target of $75.75.

Microchip Technology Stock Up 0.6%

Shares of NASDAQ:MCHP opened at $66.54 on Friday. The company has a debt-to-equity ratio of 0.80, a current ratio of 2.31 and a quick ratio of 1.33. Microchip Technology Incorporated has a 1 year low of $34.13 and a 1 year high of $79.53. The business’s 50-day moving average is $65.67 and its 200-day moving average is $60.58. The company has a market capitalization of $35.91 billion, a price-to-earnings ratio of -195.71, a P/E/G ratio of 1.89 and a beta of 1.55.

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

Microchip Technology Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, September 5th. Shareholders of record on Friday, August 22nd were given a dividend of $0.455 per share. The ex-dividend date was Friday, August 22nd. This represents a $1.82 annualized dividend and a dividend yield of 2.7%. 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.