Microchip Technology Incorporated $MCHP Shares Sold by Kovitz Investment Group Partners LLC

Key Points

• Kovitz Investment Group Partners LLC has significantly reduced its stake in Microchip Technology by 60.1%, now holding 19,255 shares valued at approximately $932,000.
• First Citizens Bank & Trust Co. and other institutional investors have increased their stakes in the company, with First Citizens raising its investment by a remarkable 468.2% during the same period.
• Microchip Technology recently declared a quarterly dividend of $0.455, representing an annualized yield of 2.8%, though the company's payout ratio is significantly negative at -535.29%.

Kovitz Investment Group Partners LLC lowered its holdings in Microchip Technology Incorporated (NASDAQ:MCHP - Free Report) by 60.1% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 19,255 shares of the semiconductor company's stock after selling 28,982 shares during the period. Kovitz Investment Group Partners LLC's holdings in Microchip Technology were worth $932,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in the business. Northwest Bank & Trust Co boosted its holdings in Microchip Technology by 3.0% in the fourth quarter. Northwest Bank & Trust Co now owns 7,392 shares of the semiconductor company's stock valued at $424,000 after purchasing an additional 217 shares during the last quarter. Clearstead Trust LLC increased its holdings in Microchip Technology by 10.5% during the 1st quarter. Clearstead Trust LLC now owns 2,356 shares of the semiconductor company's stock worth $114,000 after purchasing an additional 224 shares during the last quarter. Oregon Public Employees Retirement Fund raised its position in shares of Microchip Technology by 0.5% in the 1st quarter. Oregon Public Employees Retirement Fund now owns 46,235 shares of the semiconductor company's stock valued at $2,238,000 after purchasing an additional 230 shares in the last quarter. Greenleaf Trust boosted its stake in shares of Microchip Technology by 1.0% during the 1st quarter. Greenleaf Trust now owns 24,933 shares of the semiconductor company's stock valued at $1,207,000 after buying an additional 242 shares during the last quarter. Finally, Bartlett & CO. Wealth Management LLC boosted its stake in shares of Microchip Technology by 3.4% during the 1st quarter. Bartlett & CO. Wealth Management LLC now owns 8,360 shares of the semiconductor company's stock valued at $405,000 after buying an additional 276 shares during the last quarter. 91.51% of the stock is currently owned by institutional investors and hedge funds.

Microchip Technology Stock Performance

MCHP stock traded up $3.04 during mid-day trading on Friday, reaching $69.14. The company had a trading volume of 12,427,539 shares, compared to its average volume of 9,231,423. Microchip Technology Incorporated has a one year low of $34.13 and a one year high of $82.65. The stock has a market capitalization of $37.31 billion, a P/E ratio of -203.35, a P/E/G ratio of 1.91 and a beta of 1.55. 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 stock's 50-day simple moving average is $69.57 and its two-hundred day simple moving average is $58.77.

Microchip Technology (NASDAQ:MCHP - Get Free Report) last released its quarterly earnings data on Thursday, August 7th. The semiconductor company reported $0.27 earnings per share for the quarter, topping analysts' consensus estimates of $0.24 by $0.03. The business 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 company's revenue for the quarter was down 13.3% compared to the same quarter last year. During the same quarter last year, the company earned $0.53 EPS. Microchip Technology has set its Q2 2026 guidance at 0.340-0.370 EPS. Research 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 will be paid on Friday, September 5th. Stockholders of record on Friday, August 22nd will be issued a dividend of $0.455 per share. This represents a $1.82 dividend on an annualized basis and a dividend yield of 2.6%. The ex-dividend date of this dividend is Friday, August 22nd. Microchip Technology's payout ratio is -535.29%.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on the stock. Evercore ISI lifted their price target on shares of Microchip Technology from $69.00 to $83.00 and gave the stock an "outperform" rating in a research note on Thursday, June 12th. Zacks Research downgraded shares of Microchip Technology from a "strong-buy" rating to a "hold" rating in a research report on Monday. UBS Group increased their price target on shares of Microchip Technology from $65.00 to $85.00 and gave the stock a "buy" rating in a research report on Monday, July 7th. Bank of America upgraded Microchip Technology from an "underperform" rating to a "neutral" rating and set a $56.00 price target for the company in a research note on Friday, May 9th. Finally, B. Riley upped their price objective on Microchip Technology from $60.00 to $75.00 and gave the company a "buy" rating in a research note on Friday, May 9th. One research analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and six have issued a Hold rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $76.58.

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.