111 Capital Sells 4,197 Shares of Microchip Technology Incorporated $MCHP

Key Points

• 111 Capital decreased its stake in Microchip Technology by 57.4%, selling 4,197 shares, leaving them with 3,117 shares valued at $219,000.
• Microchip Technology reported $1.08 billion in quarterly revenue, surpassing estimates, but experienced a 13.3% year-over-year decline in revenue.
• The company recently announced a quarterly dividend of $0.455 per share, reflecting an annual yield of 2.8%, despite a negative dividend payout ratio of -535.29%.

111 Capital reduced its stake in shares of Microchip Technology Incorporated (NASDAQ:MCHP - Free Report) by 57.4% in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 3,117 shares of the semiconductor company's stock after selling 4,197 shares during the period. 111 Capital's holdings in Microchip Technology were worth $219,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. First Citizens Bank & Trust Co. grew its position in shares of 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 valued at $3,570,000 after acquiring an additional 60,760 shares during the period. Everhart Financial Group Inc. bought a new position in shares of Microchip Technology during the 1st quarter valued at approximately $221,000. Sowell Financial Services LLC bought a new position in shares of Microchip Technology during the 1st quarter valued at approximately $318,000. Thompson Investment Management Inc. grew its position in shares of Microchip Technology by 9.9% during the 1st quarter. Thompson Investment Management Inc. now owns 91,016 shares of the semiconductor company's stock valued at $4,406,000 after acquiring an additional 8,175 shares during the period. Finally, Oppenheimer Asset Management Inc. lifted its stake in shares of Microchip Technology by 35.8% during the 1st quarter. Oppenheimer Asset Management Inc. now owns 33,554 shares of the semiconductor company's stock valued at $1,624,000 after buying an additional 8,843 shares in the last quarter. 91.51% of the stock is owned by institutional investors.

Microchip Technology Stock Performance

NASDAQ MCHP opened at $64.96 on Wednesday. Microchip Technology Incorporated has a 1 year low of $34.13 and a 1 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 has a market capitalization of $35.06 billion, a PE ratio of -191.06, a P/E/G ratio of 1.91 and a beta of 1.55. The company's 50 day simple moving average is $65.48 and its two-hundred day simple moving average is $60.82.

Microchip Technology (NASDAQ:MCHP - Get Free Report) last posted its quarterly earnings data on Thursday, August 7th. The semiconductor company reported $0.27 earnings per share for the quarter, beating the consensus estimate 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 negative net margin of 3.50% and a positive return on equity of 6.24%. The business's quarterly revenue was down 13.3% on a year-over-year basis. During the same quarter last year, the company posted $0.53 EPS. Microchip Technology has set its Q2 2026 guidance at 0.340-0.370 EPS. Analysts predict that Microchip Technology Incorporated will post 1.03 earnings per share for the current fiscal year.

Microchip Technology Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 5th. Stockholders of record on Friday, August 22nd were given a dividend of $0.455 per share. The ex-dividend date was Friday, August 22nd. This represents a $1.82 annualized dividend and a dividend yield of 2.8%. Microchip Technology's dividend payout ratio (DPR) is -535.29%.

Insider Buying and Selling at Microchip Technology

In other news, CFO James Eric Bjornholt sold 7,356 shares of the firm's stock in a transaction 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 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 transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Matthew W. Chapman sold 10,000 shares of the stock in a transaction 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 transaction, the director directly owned 30,665 shares in the company, valued at approximately $2,092,886.25. This represents a 24.59% decrease in their position. The disclosure for this sale can be found here. Company insiders own 1.94% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on MCHP. The Goldman Sachs Group began coverage on shares of Microchip Technology in a research note on Thursday, July 10th. They set a "buy" rating and a $88.00 price target on the stock. Truist Financial upped their price target on shares of Microchip Technology from $52.00 to $64.00 and gave the company a "hold" rating in a research note on Wednesday, June 18th. Evercore ISI upped their price target on shares of Microchip Technology from $69.00 to $83.00 and gave the company an "outperform" rating in a research note on Thursday, June 12th. KeyCorp upped their price target on shares of Microchip Technology from $70.00 to $85.00 and gave the company an "overweight" rating in a research note on Tuesday, July 8th. Finally, Weiss Ratings restated a "sell (d+)" rating on shares of Microchip Technology in a research note on Saturday, September 27th. One research analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, seven have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus 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.

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