Prime Capital Investment Advisors LLC Sells 3,229 Shares of Microchip Technology Incorporated $MCHP

Prime Capital Investment Advisors LLC lessened its stake in shares of Microchip Technology Incorporated (NASDAQ:MCHPFree Report) by 31.9% during the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 6,897 shares of the semiconductor company’s stock after selling 3,229 shares during the period. Prime Capital Investment Advisors LLC’s holdings in Microchip Technology were worth $485,000 as of its most recent filing with the SEC.

Other large investors also recently made changes to their positions in the company. Everhart Financial Group Inc. bought a new stake in Microchip Technology in the first quarter valued at approximately $221,000. Sowell Financial Services LLC bought a new stake in Microchip Technology in the 1st quarter valued at $318,000. Oppenheimer Asset Management Inc. raised its stake 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 acquiring an additional 8,843 shares during the period. Flagship Harbor Advisors LLC raised its position in shares of Microchip Technology by 67.3% in the first quarter. Flagship Harbor Advisors LLC now owns 16,098 shares of the semiconductor company’s stock valued at $779,000 after purchasing an additional 6,474 shares during the period. Finally, Argonautica Private Wealth Management Inc. bought a new position in shares of Microchip Technology in the first quarter valued at about $428,000. Institutional investors and hedge funds own 91.51% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on MCHP shares. Stifel Nicolaus increased their price objective on shares of Microchip Technology from $70.00 to $82.00 and gave the company a “buy” rating in a research report on Friday, July 18th. Piper Sandler increased their price target on shares of Microchip Technology from $65.00 to $80.00 and gave the company an “overweight” rating in a report on Friday, August 8th. Raymond James Financial increased their target price on Microchip Technology from $65.00 to $75.00 and gave the stock a “strong-buy” rating in a research note on Friday, August 8th. UBS Group increased their target price on Microchip Technology from $65.00 to $85.00 and gave the stock a “buy” rating in a research note on Monday, July 7th. Finally, Citigroup increased their target price on Microchip Technology from $68.00 to $90.00 and gave the stock a “buy” rating in a research note on Monday, July 7th. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, seven have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, Microchip Technology currently has a consensus rating of “Moderate Buy” and a consensus target price of $75.75.

Get Our Latest Stock Analysis on MCHP

Microchip Technology Stock Down 8.3%

Shares of MCHP opened at $60.41 on Friday. Microchip Technology Incorporated has a 12 month low of $34.13 and a 12 month high of $79.44. The firm’s 50 day moving average is $65.26 and its 200-day moving average is $61.00. The stock has a market capitalization of $32.60 billion, a PE ratio of -177.68, a P/E/G ratio of 1.89 and a beta of 1.55. 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 (NASDAQ:MCHPGet Free Report) last posted its quarterly earnings data on Thursday, August 7th. The semiconductor company reported $0.27 EPS for the quarter, topping analysts’ consensus estimates of $0.24 by $0.03. Microchip Technology had a positive return on equity of 6.24% and a negative net margin of 3.50%.The firm had revenue of $1.08 billion for the quarter, compared to analyst estimates of $1.05 billion. During the same quarter last year, the company earned $0.53 EPS. The company’s revenue was down 13.3% on a year-over-year basis. Microchip Technology has set its Q2 2026 guidance at 0.340-0.370 EPS. Equities research analysts forecast that Microchip Technology Incorporated will post 1.03 EPS for the current year.

Microchip Technology Dividend Announcement

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 $0.455 dividend. The ex-dividend date was Friday, August 22nd. This represents a $1.82 dividend on an annualized basis and a dividend yield of 3.0%. Microchip Technology’s dividend payout ratio (DPR) is presently -535.29%.

Insiders Place Their Bets

In other Microchip Technology news, CFO James Eric Bjornholt sold 7,356 shares of the firm’s stock in a transaction dated Monday, August 25th. The shares were sold at an average price of $68.72, for a total value of $505,504.32. Following the transaction, the chief financial officer directly owned 30,010 shares of the company’s stock, valued at $2,062,287.20. This trade represents a 19.69% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Matthew W. Chapman sold 10,000 shares of the firm’s stock in a transaction dated Monday, August 25th. The shares were sold at an average price of $68.25, for a total transaction 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 ownership of the stock. The disclosure for this sale can be found here. 1.94% of the stock is currently owned by company insiders.

About Microchip Technology

(Free Report)

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.

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Institutional Ownership by Quarter for Microchip Technology (NASDAQ:MCHP)

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