Microchip Technology Incorporated $MCHP Shares Acquired by Pinnacle Associates Ltd.

Pinnacle Associates Ltd. lifted its holdings in shares of Microchip Technology Incorporated (NASDAQ:MCHP) by 1.3% during the 2nd quarter, Holdings Channel reports. The firm owned 61,860 shares of the semiconductor company’s stock after buying an additional 806 shares during the period. Pinnacle Associates Ltd.’s holdings in Microchip Technology were worth $4,353,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in MCHP. Orbis Allan Gray Ltd acquired a new stake in Microchip Technology in the first quarter valued at approximately $369,612,000. Invesco Ltd. grew its position 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 worth $808,787,000 after acquiring 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 first quarter. Goldman Sachs Group Inc. now owns 8,834,550 shares of the semiconductor company’s stock worth $427,681,000 after acquiring an additional 5,136,154 shares during the last quarter. Boston Partners grew its position 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 worth $517,082,000 after acquiring an additional 2,795,650 shares during the last quarter. Finally, Amundi grew its position 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 worth $484,743,000 after acquiring an additional 1,849,866 shares during the last quarter. Institutional investors and hedge funds own 91.51% of the company’s stock.

Insider Activity at Microchip Technology

In related news, CFO James Eric Bjornholt sold 7,356 shares of the business’s stock in a transaction that occurred on 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 of the company’s stock, valued at approximately $2,062,287.20. The trade was a 19.69% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Matthew W. Chapman sold 10,000 shares of the business’s stock in a transaction that occurred on Monday, August 25th. The stock was sold at an average price of $68.25, for a total value of $682,500.00. Following the transaction, the director directly 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 is available in the SEC filing. Insiders own 1.94% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts recently weighed in on the company. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Microchip Technology in a report on Wednesday, October 8th. Wells Fargo & Company began coverage on Microchip Technology in a research note on Monday, September 15th. They set an “equal weight” rating and a $60.00 price target for the company. Zacks Research downgraded Microchip Technology from a “strong-buy” rating to a “hold” rating in a research note on Monday, August 18th. Needham & Company LLC lifted their price target on Microchip Technology from $66.00 to $77.00 and gave the stock a “buy” rating in a research note on Friday, August 8th. Finally, Citigroup lifted their price target 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 analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating, seven have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $75.75.

Microchip Technology Trading Up 0.6%

NASDAQ MCHP opened at $62.42 on Friday. Microchip Technology Incorporated has a 12 month low of $34.13 and a 12 month high of $77.20. The company has a 50-day moving average of $64.94 and a 200-day moving average of $63.53. The company has a debt-to-equity ratio of 0.80, a current ratio of 2.31 and a quick ratio of 1.33. The company has a market cap of $33.69 billion, a P/E ratio of -183.59, a P/E/G ratio of 1.79 and a beta of 1.55.

Microchip Technology (NASDAQ:MCHP) last issued its earnings results on Thursday, August 7th. The semiconductor company reported $0.27 earnings per share (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 business had revenue of $1.08 billion during the quarter, compared to analysts’ expectations of $1.05 billion. During the same quarter in the previous year, the business earned $0.53 EPS. The company’s revenue for the quarter 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 predict that Microchip Technology Incorporated will post 1.03 earnings per share for the current year.

Microchip Technology Announces Dividend

The company also recently announced 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. The ex-dividend date was Friday, August 22nd. This represents a $1.82 dividend on an annualized basis and a dividend yield of 2.9%. Microchip Technology’s payout ratio is presently -535.29%.

Microchip Technology 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.