Steward Partners Investment Advisory LLC Sells 3,689 Shares of Microchip Technology Incorporated $MCHP

Steward Partners Investment Advisory LLC cut its holdings in Microchip Technology Incorporated (NASDAQ:MCHP) by 5.6% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 62,187 shares of the semiconductor company’s stock after selling 3,689 shares during the quarter. Steward Partners Investment Advisory LLC’s holdings in Microchip Technology were worth $4,376,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of the business. Orbis Allan Gray Ltd acquired a new stake in shares of Microchip Technology during the first quarter worth $369,612,000. Invesco Ltd. boosted its holdings in Microchip Technology by 63.0% during the first quarter. Invesco Ltd. now owns 16,707,031 shares of the semiconductor company’s stock worth $808,787,000 after buying an additional 6,459,123 shares during the last quarter. Goldman Sachs Group Inc. grew its position in shares of Microchip Technology by 138.9% during the 1st quarter. Goldman Sachs Group Inc. now owns 8,834,550 shares of the semiconductor company’s stock worth $427,681,000 after buying an additional 5,136,154 shares during the period. Boston Partners increased its stake in shares of Microchip Technology by 38.0% in the 2nd quarter. Boston Partners now owns 14,802,525 shares of the semiconductor company’s stock valued at $1,040,114,000 after acquiring an additional 4,076,112 shares during the last quarter. Finally, Amundi raised its position in shares of Microchip Technology by 22.7% in the 1st quarter. Amundi now owns 10,013,285 shares of the semiconductor company’s stock valued at $484,743,000 after acquiring an additional 1,849,866 shares during the period. Institutional investors and hedge funds own 91.51% of the company’s stock.

Microchip Technology Price Performance

Shares of NASDAQ MCHP opened at $52.57 on Friday. The company has a fifty day moving average price of $60.83 and a 200 day moving average price of $64.63. The firm has a market cap of $28.41 billion, a PE ratio of -154.62, a PEG ratio of 1.79 and a beta of 1.57. The company has a current ratio of 2.31, a quick ratio of 1.33 and a debt-to-equity ratio of 0.80. Microchip Technology Incorporated has a 1-year low of $34.13 and a 1-year high of $77.20.

Microchip Technology (NASDAQ:MCHP) last issued its quarterly earnings results on Thursday, November 6th. The semiconductor company reported $0.35 EPS for the quarter, beating analysts’ consensus estimates of $0.33 by $0.02. The company had revenue of $1.14 billion for the quarter, compared to analyst estimates of $1.13 billion. Microchip Technology had a positive return on equity of 6.24% and a negative net margin of 3.50%.The company’s quarterly revenue was down 2.0% compared to the same quarter last year. During the same period in the previous year, the company posted $0.46 earnings per share. Microchip Technology has set its Q3 2026 guidance at 0.340-0.400 EPS. Research analysts predict that Microchip Technology Incorporated will post 1.03 earnings per share for the current fiscal year.

Microchip Technology Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 9th. Stockholders of record on Monday, November 24th will be paid a dividend of $0.455 per share. This represents a $1.82 annualized dividend and a dividend yield of 3.5%. The ex-dividend date of this dividend is Monday, November 24th. Microchip Technology’s dividend payout ratio (DPR) is currently -404.44%.

Insider Activity

In other news, CFO James Eric Bjornholt sold 4,292 shares of Microchip Technology stock in a transaction that occurred on Tuesday, November 25th. The shares were sold at an average price of $50.39, for a total value of $216,273.88. Following the sale, the chief financial officer directly owned 30,089 shares in the company, valued at $1,516,184.71. This trade represents a 12.48% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 1.94% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on MCHP shares. Susquehanna reduced their price objective 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. Needham & Company LLC reduced their price target on shares of Microchip Technology from $77.00 to $73.00 and set a “buy” rating on the stock in a research report on Friday, November 7th. Truist Financial reissued a “hold” rating and issued a $60.00 price target (down previously from $64.00) on shares of Microchip Technology in a report on Friday, November 7th. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Microchip Technology in a research note on Wednesday, October 8th. Finally, Citigroup decreased their target price on Microchip Technology from $90.00 to $80.00 and set a “buy” rating for the company in a research note on Friday, November 7th. One investment analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating, seven have given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, Microchip Technology has a consensus rating of “Moderate Buy” and a consensus price target of $73.47.

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.