Global Trust Asset Management LLC Has $499,000 Position in Microchip Technology Incorporated $MCHP

Key Points

• Global Trust Asset Management LLC has reduced its stake in Microchip Technology Incorporated by 54.8%, now holding shares worth $499,000 after selling 8,610 shares in the second quarter.
• Multiple institutional investors significantly increased their positions in Microchip Technology, with First Citizens Bank & Trust Co. boosting its holdings by 468.2% in the first quarter, now owning 73,737 shares valued at $3,570,000.
• Analysts have raised their target prices for Microchip Technology, with the consensus rating being "Moderate Buy" and a price target of $75.75, reflecting a positive outlook for the stock.

Global Trust Asset Management LLC lowered its stake in Microchip Technology Incorporated (NASDAQ:MCHP - Free Report) by 54.8% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 7,094 shares of the semiconductor company's stock after selling 8,610 shares during the period. Global Trust Asset Management LLC's holdings in Microchip Technology were worth $499,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. First Citizens Bank & Trust Co. increased its holdings in shares of Microchip Technology by 468.2% in the first quarter. First Citizens Bank & Trust Co. now owns 73,737 shares of the semiconductor company's stock valued at $3,570,000 after purchasing an additional 60,760 shares in the last quarter. Everhart Financial Group Inc. acquired a new stake in Microchip Technology during the 1st quarter worth $221,000. Czech National Bank grew its holdings in Microchip Technology by 6.1% during the 1st quarter. Czech National Bank now owns 123,528 shares of the semiconductor company's stock worth $5,980,000 after acquiring an additional 7,093 shares during the period. Sowell Financial Services LLC acquired a new stake in Microchip Technology during the 1st quarter worth $318,000. Finally, Thompson Investment Management Inc. grew its holdings in Microchip Technology by 9.9% during the 1st quarter. Thompson Investment Management Inc. now owns 91,016 shares of the semiconductor company's stock worth $4,406,000 after acquiring an additional 8,175 shares during the period. Institutional investors and hedge funds own 91.51% of the company's stock.

Analyst Ratings Changes

MCHP has been the subject of a number of analyst reports. Truist Financial lifted their target price on shares of Microchip Technology from $52.00 to $64.00 and gave the stock a "hold" rating in a report on Wednesday, June 18th. Wells Fargo & Company initiated coverage on shares of Microchip Technology in a report on Monday, September 15th. They set an "equal weight" rating and a $60.00 target price for the company. The Goldman Sachs Group began coverage on shares of Microchip Technology in a report on Thursday, July 10th. They set a "buy" rating and a $88.00 target price for the company. Needham & Company LLC lifted their price target on shares of Microchip Technology from $66.00 to $77.00 and gave the stock a "buy" rating in a research report on Friday, August 8th. Finally, Cantor Fitzgerald began coverage on shares of Microchip Technology in a research report on Wednesday, June 18th. They set a "neutral" rating and a $70.00 price target on the stock. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and seven have given a Hold rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $75.75.

Insider Activity

In other Microchip Technology news, Director Matthew W. Chapman sold 10,000 shares of the business'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 sale, the director directly owned 30,665 shares of the company's stock, valued at $2,092,886.25. The trade was a 24.59% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CFO James Eric Bjornholt sold 7,356 shares of the business'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 owned 30,010 shares in the company, valued at $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. Insiders own 1.94% of the company's stock.

Microchip Technology Trading Down 0.6%

Shares of NASDAQ:MCHP opened at $64.42 on Monday. The company's 50-day moving average price is $66.30 and its two-hundred day moving average price is $60.29. 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 one year low of $34.13 and a one year high of $81.64. The stock has a market capitalization of $34.77 billion, a PE ratio of -189.47, a price-to-earnings-growth ratio of 1.85 and a beta of 1.56.

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 the consensus estimate 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 firm had revenue of $1.08 billion for the quarter, compared to analysts' expectations of $1.05 billion. During the same period in the previous year, the firm posted $0.53 EPS. The company's revenue for the quarter was down 13.3% on a year-over-year basis. Microchip Technology has set its Q2 2026 guidance at 0.340-0.370 EPS. On average, equities analysts forecast that Microchip Technology Incorporated will post 1.03 EPS for the current fiscal year.

Microchip Technology Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, September 5th. Shareholders of record on Friday, August 22nd were given a dividend of $0.455 per share. 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 payout ratio is -535.29%.

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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