GC Wealth Management RIA LLC Purchases 6,377 Shares of Microchip Technology Incorporated $MCHP

Key Points

• GC Wealth Management RIA LLC boosted its stake in Microchip Technology Incorporated by 96.5%, acquiring an additional 6,377 shares to total 12,987 shares worth $914,000.
• Several large investors, including First Citizens Bank & Trust Co. and Czech National Bank, have significantly increased their positions in Microchip Technology in the first quarter of this year.
• Microchip Technology's most recent earnings report exceeded expectations, with a quarterly revenue of $1.08 billion and an EPS of $0.27, although the company reported a 13.3% decline in year-over-year revenue.

GC Wealth Management RIA LLC increased its position in shares of Microchip Technology Incorporated (NASDAQ:MCHP - Free Report) by 96.5% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 12,987 shares of the semiconductor company's stock after buying an additional 6,377 shares during the period. GC Wealth Management RIA LLC's holdings in Microchip Technology were worth $914,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also recently added to or reduced their stakes in MCHP. First Citizens Bank & Trust Co. increased its stake 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 worth $3,570,000 after purchasing an additional 60,760 shares during the last quarter. Everhart Financial Group Inc. bought a new position in Microchip Technology during the first quarter worth about $221,000. Czech National Bank increased its position in Microchip Technology by 6.1% during the first quarter. Czech National Bank now owns 123,528 shares of the semiconductor company's stock worth $5,980,000 after buying an additional 7,093 shares during the last quarter. Sowell Financial Services LLC bought a new stake in Microchip Technology in the first quarter valued at approximately $318,000. Finally, Thompson Investment Management Inc. lifted its position in shares of Microchip Technology by 9.9% in the first quarter. Thompson Investment Management Inc. now owns 91,016 shares of the semiconductor company's stock valued at $4,406,000 after buying an additional 8,175 shares during the last quarter. Institutional investors and hedge funds own 91.51% of the company's stock.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on MCHP. TD Cowen decreased their target price on Microchip Technology from $75.00 to $60.00 and set a "hold" rating on the stock in a report on Friday, August 8th. Needham & Company LLC upped their price objective on shares of Microchip Technology from $66.00 to $77.00 and gave the company a "buy" rating in a report on Friday, August 8th. Citigroup raised their target price on shares of Microchip Technology from $68.00 to $90.00 and gave the stock a "buy" rating in a research note on Monday, July 7th. 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. Finally, Raymond James Financial raised their price objective on shares of Microchip Technology from $65.00 to $75.00 and gave the stock a "strong-buy" rating in a research report on Friday, August 8th. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating and seven have given a Hold rating to the company. According to MarketBeat, Microchip Technology currently has a consensus rating of "Moderate Buy" and an average target price of $75.75.

Microchip Technology Price Performance

Shares of NASDAQ MCHP opened at $64.07 on Tuesday. The business has a fifty day moving average price of $66.10 and a two-hundred day moving average price of $60.37. The stock has a market capitalization of $34.58 billion, a PE ratio of -188.44, a P/E/G ratio of 1.85 and a beta of 1.56. The company has a debt-to-equity ratio of 0.80, a current ratio of 2.31 and a quick ratio of 1.33. Microchip Technology Incorporated has a fifty-two week low of $34.13 and a fifty-two week high of $80.42.

Microchip Technology (NASDAQ:MCHP - Get Free Report) last issued 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. The company 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%.Microchip Technology's revenue was down 13.3% on a year-over-year basis. During the same quarter last year, the business earned $0.53 earnings per share. Microchip Technology has set its Q2 2026 guidance at 0.340-0.370 EPS. As a group, equities analysts predict that Microchip Technology Incorporated will post 1.03 earnings per share for the current fiscal year.

Microchip Technology Dividend Announcement

The company 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. 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 currently -535.29%.

Insider Buying and Selling

In other Microchip Technology news, Director Matthew W. Chapman sold 10,000 shares of the firm's stock in a transaction on Monday, August 25th. The stock was sold at an average price of $68.25, for a total value of $682,500.00. Following the sale, the director 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 position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO James Eric Bjornholt sold 7,356 shares of Microchip Technology 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 transaction, the chief financial officer owned 30,010 shares in the company, valued at approximately $2,062,287.20. The trade was a 19.69% decrease in their position. The disclosure for this sale can be found here. Company insiders own 1.94% of the company's stock.

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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