Pinnacle Wealth Management Advisory Group LLC Buys 3,424 Shares of Microchip Technology Incorporated $MCHP

Pinnacle Wealth Management Advisory Group LLC increased its stake in shares of Microchip Technology Incorporated (NASDAQ:MCHP) by 35.3% during the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 13,110 shares of the semiconductor company’s stock after purchasing an additional 3,424 shares during the quarter. Pinnacle Wealth Management Advisory Group LLC’s holdings in Microchip Technology were worth $923,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of the stock. Sagespring Wealth Partners LLC increased its position in Microchip Technology by 2.7% during the second quarter. Sagespring Wealth Partners LLC now owns 5,787 shares of the semiconductor company’s stock valued at $407,000 after acquiring an additional 154 shares during the last quarter. Mechanics Financial Corp lifted its holdings in shares of Microchip Technology by 3.4% in the 2nd quarter. Mechanics Financial Corp now owns 5,014 shares of the semiconductor company’s stock worth $353,000 after acquiring an additional 167 shares during the last quarter. Global X Japan Co. Ltd. boosted its stake in shares of Microchip Technology by 0.4% during the 2nd quarter. Global X Japan Co. Ltd. now owns 45,705 shares of the semiconductor company’s stock worth $3,216,000 after purchasing an additional 174 shares during the period. Bank of Jackson Hole Trust grew its holdings in Microchip Technology by 2.0% during the 2nd quarter. Bank of Jackson Hole Trust now owns 8,828 shares of the semiconductor company’s stock valued at $621,000 after purchasing an additional 174 shares during the last quarter. Finally, Pinnacle Bancorp Inc. grew its holdings in Microchip Technology by 18.9% during the 2nd quarter. Pinnacle Bancorp Inc. now owns 1,206 shares of the semiconductor company’s stock valued at $85,000 after purchasing an additional 192 shares during the last quarter. Hedge funds and other institutional investors own 91.51% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on MCHP. Citigroup dropped their target price on Microchip Technology from $90.00 to $80.00 and set a “buy” rating for the company in a research report on Friday. Morgan Stanley raised their price target on Microchip Technology from $63.00 to $68.00 and gave the stock an “equal weight” rating in a research note on Tuesday, November 4th. Stifel Nicolaus dropped their price objective on Microchip Technology from $82.00 to $75.00 and set a “buy” rating for the company in a report on Friday. TD Cowen cut their price objective on Microchip Technology from $65.00 to $60.00 and set a “hold” rating on the stock in a research report on Friday. Finally, Truist Financial reiterated a “hold” rating and issued a $60.00 target price (down previously from $64.00) on shares of Microchip Technology in a research note on Friday. One research 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 assigned a Sell rating to the company. According to data from MarketBeat, Microchip Technology presently has an average rating of “Moderate Buy” and a consensus price target of $73.47.

Insider Transactions at Microchip Technology

In other news, Director Matthew W. Chapman sold 10,000 shares of the business’s 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 completion of the sale, the director owned 30,665 shares in the company, valued at approximately $2,092,886.25. The trade was a 24.59% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO James Eric Bjornholt sold 7,356 shares of the company’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 completion of the sale, the chief financial officer directly owned 30,010 shares of the company’s stock, valued at $2,062,287.20. The trade was a 19.69% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 1.94% of the stock is owned by corporate insiders.

Microchip Technology Stock Down 5.2%

Shares of NASDAQ MCHP opened at $56.28 on Monday. Microchip Technology Incorporated has a 52-week low of $34.13 and a 52-week high of $77.20. The firm has a market capitalization of $30.37 billion, a price-to-earnings ratio of -165.53, a PEG ratio of 1.79 and a beta of 1.57. The stock has a 50 day moving average price of $64.24 and a 200 day moving average price of $64.41. The company has a debt-to-equity ratio of 0.80, a quick ratio of 1.33 and a current ratio of 2.31.

Microchip Technology (NASDAQ:MCHP) last issued its earnings results on Thursday, November 6th. The semiconductor company reported $0.35 earnings per share for the quarter, beating analysts’ consensus estimates of $0.33 by $0.02. Microchip Technology had a positive return on equity of 6.24% and a negative net margin of 3.50%.The business had revenue of $1.14 billion during the quarter, compared to analyst estimates of $1.13 billion. During the same period in the previous year, the company posted $0.46 EPS. Microchip Technology’s revenue was down 2.0% on a year-over-year basis. Microchip Technology has set its Q3 2026 guidance at 0.340-0.400 EPS. Sell-side analysts expect that Microchip Technology Incorporated will post 1.03 earnings per share for the current year.

Microchip Technology Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 9th. Investors of record on Monday, November 24th will be issued a $0.455 dividend. This represents a $1.82 annualized dividend and a dividend yield of 3.2%. The ex-dividend date is Monday, November 24th. Microchip Technology’s payout ratio is presently -404.44%.

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.