Prime Capital Investment Advisors LLC Sells 3,229 Shares of Microchip Technology Incorporated $MCHP

Prime Capital Investment Advisors LLC lessened its holdings in Microchip Technology Incorporated (NASDAQ:MCHP) by 31.9% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 6,897 shares of the semiconductor company’s stock after selling 3,229 shares during the period. Prime Capital Investment Advisors LLC’s holdings in Microchip Technology were worth $485,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of MCHP. Vanguard Group Inc. grew its holdings 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 during the last quarter. Invesco Ltd. grew its stake in shares of Microchip Technology by 63.0% during the first quarter. Invesco Ltd. now owns 16,707,031 shares of the semiconductor company’s stock worth $808,787,000 after buying an additional 6,459,123 shares during the last quarter. T. Rowe Price Investment Management Inc. grew its position in Microchip Technology by 0.9% during the 1st quarter. T. Rowe Price Investment Management Inc. now owns 16,630,574 shares of the semiconductor company’s stock worth $805,087,000 after acquiring an additional 152,434 shares during the last quarter. Boston Partners increased its holdings in Microchip Technology by 35.3% in the 1st quarter. Boston Partners now owns 10,726,413 shares of the semiconductor company’s stock worth $517,082,000 after purchasing an additional 2,795,650 shares in the last quarter. Finally, Amundi increased its holdings in Microchip Technology by 22.7% in the 1st quarter. Amundi now owns 10,013,285 shares of the semiconductor company’s stock worth $484,743,000 after purchasing an additional 1,849,866 shares in the last quarter. Institutional investors own 91.51% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on the company. Piper Sandler boosted their price target on Microchip Technology from $65.00 to $80.00 and gave the stock an “overweight” rating in a report on Friday, August 8th. Needham & Company LLC upped their price target on shares of Microchip Technology from $66.00 to $77.00 and gave the company a “buy” rating in a research report on Friday, August 8th. Susquehanna upped their price target on shares of Microchip Technology from $60.00 to $90.00 and gave the company a “positive” rating in a research report on Tuesday, July 22nd. Zacks Research cut shares of Microchip Technology from a “strong-buy” rating to a “hold” rating in a research report on Monday, August 18th. Finally, Truist Financial boosted their price objective on shares of Microchip Technology from $52.00 to $64.00 and gave the stock a “hold” rating in a research note on Wednesday, June 18th. One research analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, seven have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $75.75.

Microchip Technology Stock Down 8.3%

Shares of Microchip Technology stock opened at $60.41 on Friday. Microchip Technology Incorporated has a one year low of $34.13 and a one year high of $79.44. The company has a debt-to-equity ratio of 0.80, a current ratio of 2.31 and a quick ratio of 1.33. The stock’s 50-day moving average is $65.26 and its 200 day moving average is $61.00. The firm has a market cap of $32.60 billion, a price-to-earnings ratio of -177.68, a PEG ratio of 1.89 and a beta of 1.55.

Microchip Technology (NASDAQ:MCHP) last posted 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 firm had revenue of $1.08 billion for the quarter, compared to analysts’ expectations of $1.05 billion. Microchip Technology had a positive return on equity of 6.24% and a negative net margin of 3.50%.The company’s revenue for the quarter was down 13.3% compared to the same quarter last year. During the same period in the prior year, the business earned $0.53 EPS. Microchip Technology has set its Q2 2026 guidance at 0.340-0.370 EPS. Equities research analysts anticipate that Microchip Technology Incorporated will post 1.03 EPS for the current year.

Microchip Technology Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, September 5th. Investors 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 annualized dividend and a yield of 3.0%. Microchip Technology’s dividend payout ratio is currently -535.29%.

Insider Buying and Selling at Microchip Technology

In other news, Director Matthew W. Chapman sold 10,000 shares of the 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 transaction, the director owned 30,665 shares of the company’s stock, valued at $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 is available through this link. Also, CFO James Eric Bjornholt sold 7,356 shares of the stock in a transaction dated Monday, August 25th. The stock was 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 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. 1.94% of the stock is owned by corporate 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.