Private Trust Co. NA Cuts Stake in Microchip Technology Incorporated $MCHP

Private Trust Co. NA lowered its position in Microchip Technology Incorporated (NASDAQ:MCHP) by 30.3% in the 2nd quarter, Holdings Channel reports. The institutional investor owned 5,563 shares of the semiconductor company’s stock after selling 2,416 shares during the period. Private Trust Co. NA’s holdings in Microchip Technology were worth $391,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. Vanguard Group Inc. lifted its position in Microchip Technology by 0.6% in the first quarter. Vanguard Group Inc. now owns 69,302,614 shares of the semiconductor company’s stock valued at $3,354,940,000 after purchasing an additional 390,269 shares during the last quarter. Invesco Ltd. increased its stake in shares of Microchip Technology by 63.0% during the first quarter. Invesco Ltd. now owns 16,707,031 shares of the semiconductor company’s stock valued at $808,787,000 after buying an additional 6,459,123 shares during the period. T. Rowe Price Investment Management Inc. increased its stake in shares of Microchip Technology by 0.9% during the first quarter. T. Rowe Price Investment Management Inc. now owns 16,630,574 shares of the semiconductor company’s stock valued at $805,087,000 after buying an additional 152,434 shares during the period. Boston Partners increased its stake in shares of Microchip Technology by 35.3% during the first quarter. Boston Partners now owns 10,726,413 shares of the semiconductor company’s stock valued at $517,082,000 after buying an additional 2,795,650 shares during the period. Finally, Amundi increased its stake in shares of Microchip Technology by 22.7% during the first quarter. Amundi now owns 10,013,285 shares of the semiconductor company’s stock valued at $484,743,000 after buying an additional 1,849,866 shares during the period. Hedge funds and other institutional investors own 91.51% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on the company. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Microchip Technology in a research note on Wednesday, October 8th. Wall Street Zen raised Microchip Technology from a “sell” rating to a “hold” rating in a research note on Friday, June 27th. Raymond James Financial upped their price target 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. Susquehanna upped their price target on Microchip Technology from $60.00 to $90.00 and gave the stock a “positive” rating in a research note on Tuesday, July 22nd. Finally, Wells Fargo & Company assumed coverage on Microchip Technology in a research note on Monday, September 15th. They issued an “equal weight” rating and a $60.00 price target on the stock. One investment 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 assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $75.75.

Microchip Technology Trading Down 0.3%

NASDAQ MCHP opened at $65.14 on Monday. Microchip Technology Incorporated has a 12 month low of $34.13 and a 12 month high of $79.44. The stock has a market cap of $35.15 billion, a P/E ratio of -191.59, a P/E/G ratio of 1.87 and a beta of 1.55. The stock’s fifty day moving average price is $65.19 and its 200-day moving average price is $61.76. 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:MCHP) last released its earnings results 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 analysts’ expectations of $1.05 billion. During the same period in the prior year, the firm posted $0.53 earnings per share. The company’s quarterly 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. As a group, equities analysts forecast that Microchip Technology Incorporated will post 1.03 EPS for the current fiscal year.

Microchip Technology Announces Dividend

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

Insiders Place Their Bets

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

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.