Envestnet Portfolio Solutions Inc. Cuts Stock Position in Microchip Technology Incorporated $MCHP

Envestnet Portfolio Solutions Inc. lowered its holdings in Microchip Technology Incorporated (NASDAQ:MCHP) by 24.9% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 65,422 shares of the semiconductor company’s stock after selling 21,655 shares during the period. Envestnet Portfolio Solutions Inc.’s holdings in Microchip Technology were worth $4,604,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of MCHP. Garde Capital Inc. purchased a new position in Microchip Technology in the first quarter worth $30,000. MCF Advisors LLC lifted its position in shares of Microchip Technology by 211.2% during the 2nd 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 last quarter. Carderock Capital Management Inc. purchased a new position in shares of Microchip Technology during the 2nd quarter valued at $39,000. WPG Advisers LLC purchased a new position in shares of Microchip Technology during the 1st quarter valued at $40,000. Finally, Painted Porch Advisors LLC purchased a new position in shares of Microchip Technology during the 2nd quarter valued at $40,000. Hedge funds and other institutional investors own 91.51% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on MCHP shares. Citigroup upped their price target on Microchip Technology from $68.00 to $90.00 and gave the company a “buy” rating in a research report on Monday, July 7th. UBS Group increased their price objective on Microchip Technology from $65.00 to $85.00 and gave the stock a “buy” rating in a report on Monday, July 7th. Zacks Research cut Microchip Technology from a “strong-buy” rating to a “hold” rating in a report on Monday, August 18th. Cantor Fitzgerald began 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. Finally, KeyCorp increased their price objective on Microchip Technology from $70.00 to $85.00 and gave the stock an “overweight” rating in a report on Tuesday, July 8th. One 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 company’s stock. According to MarketBeat.com, Microchip Technology has a consensus rating of “Moderate Buy” and a consensus price target of $75.75.

Insider Activity

In other news, CFO James Eric Bjornholt sold 7,356 shares of the stock in a transaction dated Monday, August 25th. The stock was sold at an average price of $68.72, for a total transaction 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. This represents a 19.69% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Matthew W. Chapman sold 10,000 shares of the stock in a transaction dated Monday, August 25th. The shares were sold at an average price of $68.25, for a total value of $682,500.00. Following the transaction, the director owned 30,665 shares in the company, valued at $2,092,886.25. This trade 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 corporate insiders.

Microchip Technology Price Performance

Shares of NASDAQ MCHP opened at $65.21 on Thursday. The firm has a market capitalization of $35.19 billion, a P/E ratio of -191.79, a P/E/G ratio of 1.85 and a beta of 1.55. The company has a quick ratio of 1.33, a current ratio of 2.31 and a debt-to-equity ratio of 0.80. The stock’s 50-day simple moving average is $65.14 and its two-hundred day simple moving average is $61.29. Microchip Technology Incorporated has a twelve month low of $34.13 and a twelve month high of $79.44.

Microchip Technology (NASDAQ:MCHP) last announced its earnings results on Thursday, August 7th. The semiconductor company reported $0.27 earnings per share 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 analyst estimates 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 quarterly revenue was down 13.3% compared to the same quarter last year. During the same period in the prior year, the company earned $0.53 EPS. Microchip Technology has set its Q2 2026 guidance at 0.340-0.370 EPS. As a group, equities analysts anticipate that Microchip Technology Incorporated will post 1.03 EPS for the current fiscal year.

Microchip Technology Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 5th. Stockholders 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 2.8%. Microchip Technology’s dividend payout ratio is -535.29%.

About Microchip Technology

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.