Glass Wealth Management Co LLC Sells 1,570 Shares of Microchip Technology Incorporated $MCHP

Glass Wealth Management Co LLC lessened its stake in Microchip Technology Incorporated (NASDAQ:MCHP) by 11.9% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 11,667 shares of the semiconductor company’s stock after selling 1,570 shares during the period. Glass Wealth Management Co LLC’s holdings in Microchip Technology were worth $821,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Vanguard Group Inc. boosted its position in shares of Microchip Technology by 0.6% during the 1st quarter. Vanguard Group Inc. now owns 69,302,614 shares of the semiconductor company’s stock valued at $3,354,940,000 after purchasing an additional 390,269 shares in the last quarter. Invesco Ltd. raised its stake in shares of Microchip Technology by 63.0% in the first quarter. Invesco Ltd. now owns 16,707,031 shares of the semiconductor company’s stock worth $808,787,000 after purchasing an additional 6,459,123 shares during the last quarter. T. Rowe Price Investment Management Inc. increased its position in shares of Microchip Technology by 0.9% during the first quarter. T. Rowe Price Investment Management Inc. now owns 16,630,574 shares of the semiconductor company’s stock valued at $805,087,000 after acquiring an additional 152,434 shares during the last quarter. Boston Partners increased its position in shares of Microchip Technology by 35.3% during the first quarter. Boston Partners now owns 10,726,413 shares of the semiconductor company’s stock valued at $517,082,000 after acquiring an additional 2,795,650 shares during the last quarter. Finally, Amundi increased its position in Microchip Technology by 22.7% in the first quarter. Amundi now owns 10,013,285 shares of the semiconductor company’s stock worth $484,743,000 after buying an additional 1,849,866 shares during the last quarter. Institutional investors own 91.51% of the company’s stock.

Microchip Technology Price Performance

MCHP opened at $66.54 on Monday. The company has a debt-to-equity ratio of 0.80, a quick ratio of 1.33 and a current ratio of 2.31. The stock has a market capitalization of $35.91 billion, a P/E ratio of -195.71, a P/E/G ratio of 1.91 and a beta of 1.55. The company’s 50-day simple moving average is $65.67 and its two-hundred day simple moving average is $60.69. Microchip Technology Incorporated has a 52-week low of $34.13 and a 52-week high of $79.53.

Microchip Technology (NASDAQ:MCHP) last posted its earnings results on Thursday, August 7th. The semiconductor company reported $0.27 earnings per share (EPS) for the quarter, beating 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 business had revenue of $1.08 billion for the quarter, compared to analysts’ expectations of $1.05 billion. During the same quarter in the prior year, the business earned $0.53 EPS. The business’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. As a group, analysts predict 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. Stockholders of record on Friday, August 22nd were paid a $0.455 dividend. This represents a $1.82 annualized dividend and a dividend yield of 2.7%. The ex-dividend date was Friday, August 22nd. Microchip Technology’s dividend payout ratio is -535.29%.

Insider Buying and Selling

In other Microchip Technology news, Director Matthew W. Chapman sold 10,000 shares of the firm’s stock in a transaction that occurred on Monday, August 25th. The shares were sold at an average price of $68.25, for a total transaction of $682,500.00. Following the sale, the director owned 30,665 shares in the company, valued at approximately $2,092,886.25. This trade represents a 24.59% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO James Eric Bjornholt sold 7,356 shares of the stock in a transaction that occurred 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 of the company’s stock, valued at approximately $2,062,287.20. This trade represents a 19.69% decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.94% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on MCHP shares. Needham & Company LLC raised their price target on Microchip Technology from $66.00 to $77.00 and gave the stock a “buy” rating in a report on Friday, August 8th. 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 note on Friday, July 18th. Citigroup lifted their price target on Microchip Technology from $68.00 to $90.00 and gave the stock a “buy” rating in a research note on Monday, July 7th. TD Cowen lowered their target price on Microchip Technology from $75.00 to $60.00 and set a “hold” rating for the company in a research note on Friday, August 8th. Finally, Wells Fargo & Company started coverage on Microchip Technology in a research note on Monday, September 15th. They issued an “equal weight” rating and a $60.00 target price for the company. One investment analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, seven have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $75.75.

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.