Microchip Technology Incorporated $MCHP Stock Holdings Lessened by PNC Financial Services Group Inc.

PNC Financial Services Group Inc. lowered its stake in Microchip Technology Incorporated (NASDAQ:MCHP) by 13.0% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 182,076 shares of the semiconductor company’s stock after selling 27,308 shares during the period. PNC Financial Services Group Inc.’s holdings in Microchip Technology were worth $11,602,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of the stock. Millstone Evans Group LLC increased its holdings in shares of Microchip Technology by 23.7% in the fourth quarter. Millstone Evans Group LLC now owns 742 shares of the semiconductor company’s stock valued at $47,000 after buying an additional 142 shares in the last quarter. Verdence Capital Advisors LLC increased its holdings in shares of Microchip Technology by 2.2% in the fourth quarter. Verdence Capital Advisors LLC now owns 7,120 shares of the semiconductor company’s stock valued at $454,000 after buying an additional 150 shares in the last quarter. Soltis Investment Advisors LLC increased its holdings in shares of Microchip Technology by 0.7% in the fourth quarter. Soltis Investment Advisors LLC now owns 22,469 shares of the semiconductor company’s stock valued at $1,432,000 after buying an additional 155 shares in the last quarter. Bouchey Financial Group Ltd increased its holdings in shares of Microchip Technology by 4.4% in the fourth quarter. Bouchey Financial Group Ltd now owns 3,771 shares of the semiconductor company’s stock valued at $240,000 after buying an additional 159 shares in the last quarter. Finally, Intrua Financial LLC increased its holdings in shares of Microchip Technology by 4.6% in the fourth quarter. Intrua Financial LLC now owns 3,669 shares of the semiconductor company’s stock valued at $234,000 after buying an additional 161 shares in the last quarter. Institutional investors own 91.51% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on the stock. UBS Group lifted their price objective on shares of Microchip Technology from $115.00 to $130.00 and gave the stock a “buy” rating in a research report on Friday, May 8th. Argus upgraded shares of Microchip Technology to a “strong-buy” rating in a research report on Monday, February 9th. Weiss Ratings cut shares of Microchip Technology from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Friday, May 8th. Bank of America upgraded shares of Microchip Technology from a “neutral” rating to a “buy” rating and set a $95.00 price objective on the stock in a research report on Wednesday, January 28th. Finally, KeyCorp reiterated an “overweight” rating and set a $85.00 price objective on shares of Microchip Technology in a research report on Friday, February 6th. Four analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating, six have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $97.52.

Insiders Place Their Bets

In related news, Director Matthew W. Chapman sold 10,000 shares of the company’s stock in a transaction on Friday, May 15th. The shares were sold at an average price of $95.48, for a total value of $954,800.00. Following the completion of the sale, the director directly owned 20,665 shares in the company, valued at approximately $1,973,094.20. This represents a 32.61% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO Steve Sanghi sold 76,469 shares of the company’s stock in a transaction on Friday, May 1st. The stock was sold at an average price of $93.58, for a total transaction of $7,155,969.02. Following the completion of the sale, the chief executive officer owned 9,385,834 shares of the company’s stock, valued at $878,326,345.72. This represents a 0.81% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 536,635 shares of company stock valued at $48,093,054 over the last quarter. 1.94% of the stock is currently owned by corporate insiders.

Microchip Technology Trading Up 2.5%

Microchip Technology stock opened at $93.43 on Friday. The company’s fifty day simple moving average is $78.81 and its 200-day simple moving average is $71.54. The company has a quick ratio of 1.18, a current ratio of 2.09 and a debt-to-equity ratio of 0.85. Microchip Technology Incorporated has a 12 month low of $48.52 and a 12 month high of $105.91. The stock has a market cap of $50.56 billion, a P/E ratio of 444.93, a P/E/G ratio of 0.98 and a beta of 1.75.

Microchip Technology (NASDAQ:MCHP) last posted its quarterly earnings results on Thursday, May 7th. The semiconductor company reported $0.57 EPS for the quarter, beating the consensus estimate of $0.50 by $0.07. Microchip Technology had a net margin of 4.88% and a return on equity of 10.87%. The business had revenue of $1.31 billion for the quarter, compared to analysts’ expectations of $1.26 billion. During the same period in the previous year, the company posted $0.11 EPS. Microchip Technology’s revenue was up 35.1% on a year-over-year basis. Microchip Technology has set its Q1 2027 guidance at 0.670-0.710 EPS. As a group, sell-side analysts forecast that Microchip Technology Incorporated will post 2.58 EPS for the current fiscal year.

Microchip Technology Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 5th. Investors of record on Friday, May 22nd will be issued a $0.455 dividend. The ex-dividend date is Friday, May 22nd. This represents a $1.82 dividend on an annualized basis and a yield of 1.9%. Microchip Technology’s dividend payout ratio is currently 866.67%.

Microchip Technology Profile

Microchip Technology Inc is a semiconductor company headquartered in Chandler, Arizona, that designs, develops and supplies a broad portfolio of embedded control and analog semiconductors. Its product lineup centers on microcontrollers (including the well-known PIC family), digital signal controllers and associated development tools and software, along with a range of mixed-signal and analog devices, nonvolatile memory, power management, timing, interface, wireless and security products. The company also provides integrated hardware and software solutions intended to simplify embedded design and accelerate time to market for OEMs and contract manufacturers.

Microchip’s products are used across a wide range of end markets, including automotive, industrial automation, consumer electronics, communications, aerospace and defense, and Internet of Things (IoT) applications.