Microchip Technology Incorporated $MCHP Shares Bought by Mechanics Financial Corp

Mechanics Financial Corp raised its stake in Microchip Technology Incorporated (NASDAQ:MCHP) by 3.4% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 5,014 shares of the semiconductor company’s stock after purchasing an additional 167 shares during the quarter. Mechanics Financial Corp’s holdings in Microchip Technology were worth $353,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. First Citizens Bank & Trust Co. boosted its holdings in shares of Microchip Technology by 468.2% in the 1st 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 during the last quarter. Everhart Financial Group Inc. acquired a new position in shares of Microchip Technology in the 1st quarter valued at $221,000. Sowell Financial Services LLC acquired a new position in shares of Microchip Technology in the 1st quarter valued at $318,000. Thompson Investment Management Inc. boosted its holdings in shares of Microchip Technology by 9.9% in the 1st quarter. Thompson Investment Management Inc. now owns 91,016 shares of the semiconductor company’s stock valued at $4,406,000 after purchasing an additional 8,175 shares during the last quarter. Finally, Oppenheimer Asset Management Inc. boosted its holdings 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 purchasing an additional 8,843 shares during the last quarter. Institutional investors and hedge funds own 91.51% of the company’s stock.

Microchip Technology Price Performance

Shares of NASDAQ:MCHP opened at $66.13 on Friday. 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 fifty-two week low of $34.13 and a fifty-two week high of $79.53. The firm has a 50-day simple moving average of $65.72 and a 200 day simple moving average of $60.49. The company has a market cap of $35.69 billion, a PE ratio of -194.50, a P/E/G ratio of 1.84 and a beta of 1.55.

Microchip Technology (NASDAQ:MCHP) last announced its quarterly earnings data on Thursday, August 7th. The semiconductor company reported $0.27 earnings per share for the quarter, beating analysts’ consensus estimates 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 business had revenue of $1.08 billion during the quarter, compared to the consensus estimate of $1.05 billion. During the same quarter in the prior year, the firm earned $0.53 EPS. The company’s revenue for the quarter was down 13.3% compared to the same quarter last year. Microchip Technology has set its Q2 2026 guidance at 0.340-0.370 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 disclosed a quarterly dividend, which was paid on Friday, September 5th. Investors of record on Friday, August 22nd were given a dividend of $0.455 per share. This represents a $1.82 dividend on an annualized basis and a dividend yield of 2.8%. The ex-dividend date of this dividend was Friday, August 22nd. Microchip Technology’s dividend payout ratio is currently -535.29%.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on MCHP. Mizuho lifted their price target on shares of Microchip Technology from $78.00 to $85.00 and gave the company an “outperform” rating in a report on Tuesday, July 8th. Stifel Nicolaus lifted their target price on shares of Microchip Technology from $70.00 to $82.00 and gave the company a “buy” rating in a report on Friday, July 18th. The Goldman Sachs Group started coverage on shares of Microchip Technology in a report on Thursday, July 10th. They set a “buy” rating and a $88.00 target price on the stock. Needham & Company LLC lifted their target price on shares of Microchip Technology from $66.00 to $77.00 and gave the company a “buy” rating in a report on Friday, August 8th. Finally, KeyCorp lifted their target price on shares of Microchip Technology from $70.00 to $85.00 and gave the company an “overweight” rating in a report on Tuesday, July 8th. One analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating and seven have given a Hold rating to the stock. According to data from MarketBeat, Microchip Technology has a consensus rating of “Moderate Buy” and a consensus target price of $75.75.

Insider Transactions at Microchip Technology

In other Microchip Technology 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 transaction of $682,500.00. Following the completion of the transaction, the director directly owned 30,665 shares of the company’s stock, valued at $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 is available at this hyperlink. Also, CFO James Eric Bjornholt sold 7,356 shares of the business’s stock in a transaction dated Monday, August 25th. The shares were sold at an average price of $68.72, for a total transaction of $505,504.32. Following the transaction, 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 ownership of the stock. 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.