Canandaigua National Trust Co of Florida Takes Position in Microchip Technology Incorporated $MCHP

Canandaigua National Trust Co of Florida acquired a new stake in shares of Microchip Technology Incorporated (NASDAQ:MCHP) in the 2nd quarter, HoldingsChannel reports. The firm acquired 3,292 shares of the semiconductor company’s stock, valued at approximately $232,000.

Other institutional investors have also added to or reduced their stakes in the company. First Citizens Bank & Trust Co. raised its position in Microchip Technology by 468.2% during the first quarter. First Citizens Bank & Trust Co. now owns 73,737 shares of the semiconductor company’s stock valued at $3,570,000 after purchasing an additional 60,760 shares in the last quarter. Everhart Financial Group Inc. acquired a new position in Microchip Technology during the first quarter valued at approximately $221,000. Texas Bank & Trust Co acquired a new position in Microchip Technology during the fourth quarter valued at approximately $792,000. Czech National Bank raised its position in Microchip Technology by 6.1% during the first quarter. Czech National Bank now owns 123,528 shares of the semiconductor company’s stock valued at $5,980,000 after purchasing an additional 7,093 shares in the last quarter. Finally, Sowell Financial Services LLC acquired a new position in Microchip Technology during the first quarter valued at approximately $318,000. 91.51% of the stock is currently owned by institutional investors and hedge funds.

Microchip Technology Stock Performance

Shares of Microchip Technology stock opened at $64.70 on Monday. The company has a quick ratio of 1.33, a current ratio of 2.31 and a debt-to-equity ratio of 0.80. Microchip Technology Incorporated has a twelve month low of $34.13 and a twelve month high of $81.64. The stock has a market cap of $34.92 billion, a price-to-earnings ratio of -190.29, a P/E/G ratio of 1.85 and a beta of 1.56. The company’s fifty day moving average is $68.12 and its 200 day moving average is $59.68.

Microchip Technology (NASDAQ:MCHP) last issued its quarterly earnings data on Thursday, August 7th. The semiconductor company reported $0.27 earnings per share for the quarter, topping the consensus estimate of $0.24 by $0.03. Microchip Technology had a negative net margin of 3.50% and a positive return on equity of 6.24%. The company had revenue of $1.08 billion for the quarter, compared to analysts’ expectations of $1.05 billion. During the same quarter in the previous year, the firm posted $0.53 earnings per share. Microchip Technology’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. Sell-side analysts forecast that Microchip Technology Incorporated will post 1.03 EPS for the current year.

Microchip Technology Dividend Announcement

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

Analyst Upgrades and Downgrades

MCHP has been the subject of several research analyst reports. TD Cowen lowered their price objective on shares of Microchip Technology from $75.00 to $60.00 and set a “hold” rating for the company in a research report on Friday, August 8th. The Goldman Sachs Group initiated coverage on shares of Microchip Technology in a report on Thursday, July 10th. They set a “buy” rating and a $88.00 price target for the company. Mizuho upped their price target on shares of Microchip Technology from $78.00 to $85.00 and gave the stock an “outperform” rating in a report on Tuesday, July 8th. Zacks Research downgraded shares of Microchip Technology from a “strong-buy” rating to a “hold” rating in a report on Monday, August 18th. Finally, Evercore ISI upped their price target on shares of Microchip Technology from $69.00 to $83.00 and gave the stock an “outperform” rating in a report on Thursday, June 12th. One analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and six have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, Microchip Technology presently has a consensus rating of “Moderate Buy” and a consensus price target of $76.58.

Insider Buying and Selling at Microchip Technology

In related news, Director Matthew W. Chapman sold 10,000 shares of the business’s stock in a transaction 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 sale, the director owned 30,665 shares of the company’s stock, valued at $2,092,886.25. The trade was 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 transaction of $505,504.32. Following the sale, the chief financial officer directly owned 30,010 shares in the company, valued at $2,062,287.20. This trade represents a 19.69% decrease in their position. The disclosure for this sale can be found here. Insiders own 1.94% of the company’s stock.

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.