Fifth Third Wealth Advisors LLC Has $362,000 Stake in Microchip Technology Incorporated $MCHP

Key Points

• Fifth Third Wealth Advisors LLC reduced its stake in Microchip Technology by 44.9% during Q2, leaving them with 5,147 shares valued at $362,000.
• Microchip Technology has experienced significant institutional investing activity, with notable increases in holdings by Vanguard Group, Invesco Ltd., and others during the first quarter.
• The company reported earnings of $0.27 per share for its last quarter, exceeding analysts' expectations while facing a revenue decline of 13.3% year-over-year.

Fifth Third Wealth Advisors LLC decreased its holdings in shares of Microchip Technology Incorporated (NASDAQ:MCHP - Free Report) by 44.9% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 5,147 shares of the semiconductor company's stock after selling 4,202 shares during the quarter. Fifth Third Wealth Advisors LLC's holdings in Microchip Technology were worth $362,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in the business. Vanguard Group Inc. boosted its holdings in Microchip Technology by 0.6% during the first quarter. Vanguard Group Inc. now owns 69,302,614 shares of the semiconductor company's stock worth $3,354,940,000 after purchasing an additional 390,269 shares during the last quarter. Invesco Ltd. boosted its holdings in 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 purchasing an additional 6,459,123 shares during the last quarter. T. Rowe Price Investment Management Inc. boosted its holdings in 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 worth $805,087,000 after purchasing an additional 152,434 shares during the last quarter. Boston Partners boosted its holdings in Microchip Technology by 35.3% during the first 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 during the last quarter. Finally, Amundi boosted its holdings in Microchip Technology by 22.7% during the first 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 during the last quarter. Institutional investors and hedge funds own 91.51% of the company's stock.

Microchip Technology Stock Performance

NASDAQ MCHP opened at $64.39 on Tuesday. Microchip Technology Incorporated has a 52-week low of $34.13 and a 52-week high of $79.44. The stock has a market cap of $34.75 billion, a PE ratio of -189.38, a P/E/G ratio of 1.73 and a beta of 1.55. The firm has a 50-day moving average of $65.21 and a 200-day moving average of $61.24. The company has a debt-to-equity ratio of 0.80, a quick ratio of 1.33 and a current ratio of 2.31.

Microchip Technology (NASDAQ:MCHP - Get Free Report) last released its quarterly earnings results on Thursday, August 7th. The semiconductor company reported $0.27 EPS for the quarter, topping analysts' consensus estimates 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 analyst estimates of $1.05 billion. During the same period last year, the firm earned $0.53 earnings per share. Microchip Technology'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. On average, sell-side analysts anticipate that Microchip Technology Incorporated will post 1.03 EPS for the current year.

Microchip Technology Announces Dividend

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

Insider Transactions at Microchip Technology

In related news, Director Matthew W. Chapman sold 10,000 shares of the firm's 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 directly owned 30,665 shares of the company's stock, valued at approximately $2,092,886.25. This trade represents a 24.59% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO James Eric Bjornholt sold 7,356 shares of the firm's 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 approximately $2,062,287.20. This 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.

Analysts Set New Price Targets

MCHP has been the subject of a number of recent analyst reports. Wells Fargo & Company initiated coverage on shares of Microchip Technology in a research note on Monday, September 15th. They issued an "equal weight" rating and a $60.00 price target for the company. UBS Group increased their price target on shares of Microchip Technology from $65.00 to $85.00 and gave the company a "buy" rating in a research note on Monday, July 7th. Needham & Company LLC increased their price target on shares of Microchip Technology from $66.00 to $77.00 and gave the company a "buy" rating in a research note on Friday, August 8th. Mizuho increased their price target on shares of Microchip Technology from $78.00 to $85.00 and gave the company an "outperform" rating in a research note on Tuesday, July 8th. Finally, Weiss Ratings reiterated a "sell (d+)" rating on shares of Microchip Technology in a research note on Wednesday, October 8th. 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 assigned a Sell rating to the company. Based on data from MarketBeat, Microchip Technology currently has an average rating of "Moderate Buy" and an average price target of $75.75.

Microchip Technology Company 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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