Valley National Advisers Inc. Sells 599 Shares of Microchip Technology Incorporated $MCHP

Valley National Advisers Inc. trimmed its position in Microchip Technology Incorporated (NASDAQ:MCHP) by 51.1% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 573 shares of the semiconductor company’s stock after selling 599 shares during the period. Valley National Advisers Inc.’s holdings in Microchip Technology were worth $39,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also made changes to their positions in the business. First Citizens Bank & Trust Co. grew its position in Microchip Technology by 468.2% during the 1st quarter. First Citizens Bank & Trust Co. now owns 73,737 shares of the semiconductor company’s stock worth $3,570,000 after purchasing an additional 60,760 shares during the last quarter. Everhart Financial Group Inc. purchased a new position in shares of Microchip Technology in the first quarter worth $221,000. Sowell Financial Services LLC acquired a new stake in shares of Microchip Technology during the first quarter worth $318,000. Thompson Investment Management Inc. grew its holdings in shares of Microchip Technology by 9.9% during the first quarter. Thompson Investment Management Inc. now owns 91,016 shares of the semiconductor company’s stock valued at $4,406,000 after buying an additional 8,175 shares during the last quarter. Finally, Oppenheimer Asset Management Inc. increased its position in shares of Microchip Technology by 35.8% in the 1st quarter. Oppenheimer Asset Management Inc. now owns 33,554 shares of the semiconductor company’s stock valued at $1,624,000 after acquiring an additional 8,843 shares during the period. 91.51% of the stock is owned by institutional investors and hedge funds.

Microchip Technology Price Performance

NASDAQ:MCHP opened at $66.59 on Tuesday. 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 52 week low of $34.13 and a 52 week high of $79.44. The stock’s 50-day moving average price is $65.59 and its 200-day moving average price is $60.79. The stock has a market capitalization of $35.94 billion, a PE ratio of -195.85, a price-to-earnings-growth ratio of 1.91 and a beta of 1.55.

Microchip Technology (NASDAQ:MCHP) last issued its quarterly 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. The company had revenue of $1.08 billion for the quarter, compared to the consensus estimate of $1.05 billion. Microchip Technology had a positive return on equity of 6.24% and a negative net margin of 3.50%.Microchip Technology’s revenue for the quarter was down 13.3% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.53 earnings per share. Microchip Technology has set its Q2 2026 guidance at 0.340-0.370 EPS. As a group, equities analysts expect that Microchip Technology Incorporated will post 1.03 EPS for the current fiscal year.

Microchip Technology Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, September 5th. Stockholders of record on Friday, August 22nd were paid a dividend of $0.455 per share. The ex-dividend date of this dividend was Friday, August 22nd. This represents a $1.82 dividend on an annualized basis and a dividend yield of 2.7%. Microchip Technology’s payout ratio is currently -535.29%.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on MCHP. Stifel Nicolaus lifted their price target on Microchip Technology from $70.00 to $82.00 and gave the stock a “buy” rating in a research report on Friday, July 18th. Weiss Ratings restated a “sell (d+)” rating on shares of Microchip Technology in a research note on Saturday, September 27th. TD Cowen decreased their target price on Microchip Technology from $75.00 to $60.00 and set a “hold” rating for the company in a report on Friday, August 8th. Truist Financial increased their price target on shares of Microchip Technology from $52.00 to $64.00 and gave the stock a “hold” rating in a report on Wednesday, June 18th. Finally, Evercore ISI raised their price target on shares of Microchip Technology from $69.00 to $83.00 and gave the stock an “outperform” rating in a research report on Thursday, June 12th. One investment analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, seven have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $75.75.

Insider Activity at Microchip Technology

In related news, Director Matthew W. Chapman sold 10,000 shares of the 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 completion of the transaction, the director directly owned 30,665 shares of the company’s stock, valued at approximately $2,092,886.25. This represents a 24.59% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO James Eric Bjornholt sold 7,356 shares of Microchip Technology stock in a transaction 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 sale, the chief financial officer directly 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 disclosure for this sale can be found here. 1.94% of the stock is currently owned by insiders.

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.