CENTRAL TRUST Co Decreases Stake in Microchip Technology Incorporated $MCHP

CENTRAL TRUST Co lessened its holdings in shares of Microchip Technology Incorporated (NASDAQ:MCHP) by 14.8% during the 2nd quarter, HoldingsChannel reports. The firm owned 8,366 shares of the semiconductor company’s stock after selling 1,455 shares during the period. CENTRAL TRUST Co’s holdings in Microchip Technology were worth $589,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of MCHP. Midland Wealth Advisors LLC purchased a new position in shares of Microchip Technology in the second quarter worth about $203,000. Samalin Investment Counsel LLC acquired a new stake in Microchip Technology in the 2nd quarter valued at about $212,000. Vise Technologies Inc. purchased a new position in Microchip Technology in the 2nd quarter worth approximately $703,000. Allworth Financial LP grew its position in shares of Microchip Technology by 41.8% in the second quarter. Allworth Financial LP now owns 7,821 shares of the semiconductor company’s stock valued at $550,000 after purchasing an additional 2,307 shares in the last quarter. Finally, Americana Partners LLC acquired a new stake in shares of Microchip Technology in the second quarter valued at approximately $228,000. 91.51% of the stock is currently owned by institutional investors and hedge funds.

Microchip Technology Price Performance

MCHP stock opened at $55.63 on Thursday. The business’s fifty day moving average price is $63.72 and its 200 day moving average price is $64.46. Microchip Technology Incorporated has a 12-month low of $34.13 and a 12-month high of $77.20. The company has a current ratio of 2.31, a quick ratio of 1.33 and a debt-to-equity ratio of 0.80. The company has a market capitalization of $30.07 billion, a PE ratio of -163.62, a P/E/G ratio of 1.79 and a beta of 1.57.

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

Microchip Technology Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 9th. Shareholders of record on Monday, November 24th will be issued a dividend of $0.455 per share. The ex-dividend date is Monday, November 24th. This represents a $1.82 dividend on an annualized basis and a yield of 3.3%. Microchip Technology’s dividend payout ratio is -404.44%.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on MCHP shares. Citigroup lowered their price objective on Microchip Technology from $90.00 to $80.00 and set a “buy” rating on the stock in a research note on Friday, November 7th. Raymond James Financial boosted their price target on shares of Microchip Technology from $65.00 to $75.00 and gave the company a “strong-buy” rating in a research report on Friday, August 8th. TD Cowen cut their price objective on shares of Microchip Technology from $65.00 to $60.00 and set a “hold” rating for the company in a research report on Friday, November 7th. Cantor Fitzgerald decreased their target price on shares of Microchip Technology from $70.00 to $65.00 and set a “neutral” rating on the stock in a report on Friday, November 7th. Finally, Truist Financial restated a “hold” rating and set a $60.00 price target (down previously from $64.00) on shares of Microchip Technology in a report on Friday, November 7th. One equities research analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating, seven have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $73.47.

Insider Activity at Microchip Technology

In other Microchip Technology news, CFO James Eric Bjornholt sold 7,356 shares of the business’s stock in a transaction on Monday, August 25th. The shares were 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 $2,062,287.20. The trade was a 19.69% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Matthew W. Chapman sold 10,000 shares of the company’s stock in a transaction 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 sale, the director directly owned 30,665 shares in the company, valued at $2,092,886.25. This represents a 24.59% decrease in their position. The SEC filing for this sale provides additional information. Company insiders own 1.94% of the company’s stock.

Microchip Technology Company 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.