Microchip Technology Incorporated $MCHP Position Boosted by Alliancebernstein L.P.

Key Points

• Alliancebernstein L.P. increased its stake in Microchip Technology by 0.9%, owning approximately 619,195 shares valued at $29.97 million as of the latest SEC filing.
• The company recently declared a quarterly dividend of $0.455, representing an annualized rate of $1.82 and a dividend yield of 2.8%.
• Analysts have mixed ratings on Microchip Technology, with a consensus rating of "Moderate Buy" and an average price target of $76.58.

Alliancebernstein L.P. raised its position in Microchip Technology Incorporated (NASDAQ:MCHP - Free Report) by 0.9% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 619,195 shares of the semiconductor company's stock after acquiring an additional 5,409 shares during the quarter. Alliancebernstein L.P. owned approximately 0.11% of Microchip Technology worth $29,975,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in the company. Vanguard Group Inc. boosted its position in shares of Microchip Technology by 0.6% in 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 period. Invesco Ltd. increased its holdings in shares of Microchip Technology by 63.0% in the 1st quarter. Invesco Ltd. now owns 16,707,031 shares of the semiconductor company's stock valued at $808,787,000 after acquiring an additional 6,459,123 shares during the period. T. Rowe Price Investment Management Inc. increased its holdings in shares of Microchip Technology by 0.9% in the 1st 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 period. Boston Partners increased its holdings in shares of Microchip Technology by 35.3% in the 1st 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 period. Finally, Amundi increased its holdings in shares of Microchip Technology by 22.7% in the 1st quarter. Amundi now owns 10,013,285 shares of the semiconductor company's stock valued at $484,743,000 after acquiring an additional 1,849,866 shares during the period. 91.51% of the stock is owned by institutional investors and hedge funds.

Microchip Technology Price Performance

Shares of Microchip Technology stock traded down $0.32 on Friday, hitting $64.70. The company's stock had a trading volume of 4,607,567 shares, compared to its average volume of 7,376,585. Microchip Technology Incorporated has a 52-week low of $34.13 and a 52-week high of $81.64. The company has a quick ratio of 1.33, a current ratio of 2.31 and a debt-to-equity ratio of 0.80. The firm has a fifty day moving average price of $68.12 and a 200-day moving average price of $59.66. The company has a market capitalization of $34.92 billion, a P/E ratio of -190.29, a price-to-earnings-growth ratio of 1.86 and a beta of 1.56.

Microchip Technology (NASDAQ:MCHP - Get Free Report) last released its earnings results on Thursday, August 7th. The semiconductor company reported $0.27 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.24 by $0.03. The company had revenue of $1.08 billion for the quarter, compared to analyst estimates of $1.05 billion. Microchip Technology had a negative net margin of 3.50% and a positive return on equity of 6.24%. The firm's quarterly revenue was down 13.3% on a year-over-year basis. During the same period in the prior year, the firm earned $0.53 EPS. Microchip Technology has set its Q2 2026 guidance at 0.340-0.370 EPS. On average, equities research analysts expect that Microchip Technology Incorporated will post 1.03 earnings per share for the current fiscal year.

Microchip Technology Dividend Announcement

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

Insider Buying and Selling

In other Microchip Technology news, Director Matthew W. Chapman sold 10,000 shares of Microchip Technology stock in a transaction on Monday, August 25th. The shares were sold at an average price of $68.25, for a total value of $682,500.00. Following the completion of the transaction, the director owned 30,665 shares of the company's stock, valued at $2,092,886.25. The trade was a 24.59% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, 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 value of $505,504.32. Following the completion of the sale, the chief financial officer owned 30,010 shares in the company, 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. 1.94% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on MCHP shares. Truist Financial boosted their price objective 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. Stifel Nicolaus boosted their price objective on shares of Microchip Technology from $70.00 to $82.00 and gave the company a "buy" rating in a research note on Friday, July 18th. Zacks Research cut shares of Microchip Technology from a "strong-buy" rating to a "hold" rating in a research note on Monday, August 18th. Wall Street Zen raised shares of Microchip Technology from a "sell" rating to a "hold" rating in a research note on Friday, June 27th. Finally, The Goldman Sachs Group started coverage on shares of Microchip Technology in a research note on Thursday, July 10th. They issued a "buy" rating and a $88.00 price objective on the stock. One research analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating and six have issued a Hold rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $76.58.

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.