Slagle Financial LLC Purchases Shares of 64,317 Microchip Technology Incorporated $MCHP

Slagle Financial LLC acquired a new position in Microchip Technology Incorporated (NASDAQ:MCHP) during the second quarter, according to its most recent 13F filing with the SEC. The firm acquired 64,317 shares of the semiconductor company’s stock, valued at approximately $4,526,000. Microchip Technology accounts for 1.8% of Slagle Financial LLC’s investment portfolio, making the stock its 13th biggest holding.

Several other hedge funds and other institutional investors have also modified their holdings of MCHP. Wealthfront Advisers LLC raised its holdings in Microchip Technology by 68.0% in the first quarter. Wealthfront Advisers LLC now owns 20,165 shares of the semiconductor company’s stock valued at $976,000 after buying an additional 8,163 shares during the period. Victory Capital Management Inc. raised its stake in shares of Microchip Technology by 18.2% in the 1st quarter. Victory Capital Management Inc. now owns 602,783 shares of the semiconductor company’s stock valued at $29,181,000 after acquiring an additional 92,962 shares during the period. Cullen Frost Bankers Inc. lifted its holdings in shares of Microchip Technology by 116.2% during the 1st quarter. Cullen Frost Bankers Inc. now owns 1,466 shares of the semiconductor company’s stock valued at $71,000 after acquiring an additional 788 shares in the last quarter. Verdence Capital Advisors LLC boosted its position in Microchip Technology by 79.7% during the 1st quarter. Verdence Capital Advisors LLC now owns 6,891 shares of the semiconductor company’s stock worth $334,000 after purchasing an additional 3,057 shares during the period. Finally, Graypoint LLC increased its holdings in Microchip Technology by 10.1% in the 1st quarter. Graypoint LLC now owns 4,582 shares of the semiconductor company’s stock valued at $222,000 after purchasing an additional 421 shares in the last quarter. 91.51% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

MCHP has been the subject of several analyst reports. Morgan Stanley upped their target price on Microchip Technology from $63.00 to $68.00 and gave the stock an “equal weight” rating in a research report on Tuesday, November 4th. Weiss Ratings reissued a “sell (d+)” rating on shares of Microchip Technology in a research report on Wednesday, October 8th. Piper Sandler upped their price target on Microchip Technology from $65.00 to $80.00 and gave the stock an “overweight” rating in a report on Friday, August 8th. Cantor Fitzgerald dropped their price objective on shares of Microchip Technology from $70.00 to $65.00 and set a “neutral” rating on the stock in a research note on Friday, November 7th. Finally, Stifel Nicolaus decreased their target price on shares of Microchip Technology from $82.00 to $75.00 and set a “buy” rating for the company in a research note on Friday, November 7th. One analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating, seven have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $73.47.

Insider Buying and Selling

In other news, CFO James Eric Bjornholt sold 7,356 shares of Microchip Technology stock in a transaction that occurred on Monday, August 25th. The stock was sold at an average price of $68.72, for a total value of $505,504.32. Following the completion of the transaction, the chief financial officer owned 30,010 shares in the company, valued at approximately $2,062,287.20. This trade represents a 19.69% decrease in their position. The sale was disclosed in a legal 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 business’s stock in a transaction that occurred on Monday, August 25th. The shares were sold at an average price of $68.25, for a total value of $682,500.00. Following the completion of the sale, the director owned 30,665 shares of the company’s stock, valued at $2,092,886.25. This trade represents a 24.59% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 1.94% of the company’s stock.

Microchip Technology Stock Down 2.4%

Shares of NASDAQ:MCHP opened at $53.48 on Monday. The firm has a market cap of $28.90 billion, a PE ratio of -157.29, a price-to-earnings-growth ratio of 1.79 and a beta of 1.57. The company has a fifty day simple moving average of $63.28 and a 200 day simple moving average of $64.70. 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 12-month low of $34.13 and a 12-month high of $77.20.

Microchip Technology (NASDAQ:MCHP) last announced its quarterly earnings data on Thursday, November 6th. The semiconductor company reported $0.35 earnings per share for the quarter, topping the consensus estimate of $0.33 by $0.02. The company had revenue of $1.14 billion during the quarter, compared to analyst estimates of $1.13 billion. Microchip Technology had a negative net margin of 3.50% and a positive return on equity of 6.24%. The firm’s revenue for the quarter was down 2.0% compared to the same quarter last year. During the same period last year, the business earned $0.46 EPS. Microchip Technology has set its Q3 2026 guidance at 0.340-0.400 EPS. On average, equities research 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 will be paid on Tuesday, December 9th. Shareholders of record on Monday, November 24th will be paid a dividend of $0.455 per share. The ex-dividend date is Monday, November 24th. This represents a $1.82 annualized dividend and a yield of 3.4%. Microchip Technology’s dividend payout ratio is presently -404.44%.

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.