Microchip Technology Incorporated $MCHP Shares Purchased by Advisors Asset Management Inc.

Key Points

• Advisors Asset Management Inc. increased its stake in Microchip Technology by 65.7%, owning approximately 98,888 shares valued at around $4.79 million after acquiring an additional 39,215 shares.
• Equities research analysts have generally positive outlooks on Microchip Technology, with target price increases from multiple firms, suggesting a consensus target price of $76.58 and a largely favorable rating.
• The company recently announced a quarterly dividend of $0.455 per share, reflecting a 2.8% yield, although its dividend payout ratio stands at a negative 535.29%.

Advisors Asset Management Inc. grew its holdings in shares of Microchip Technology Incorporated (NASDAQ:MCHP - Free Report) by 65.7% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 98,888 shares of the semiconductor company's stock after purchasing an additional 39,215 shares during the quarter. Advisors Asset Management Inc.'s holdings in Microchip Technology were worth $4,787,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in MCHP. First Citizens Bank & Trust Co. raised its holdings 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 acquiring an additional 60,760 shares during the period. Everhart Financial Group Inc. purchased a new position in shares of Microchip Technology during the 1st quarter worth $221,000. Texas Bank & Trust Co purchased a new position in shares of Microchip Technology during the 4th quarter worth $792,000. Czech National Bank raised its holdings in shares of 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. Finally, Sowell Financial Services LLC purchased a new stake in Microchip Technology in the 1st quarter valued at about $318,000. Institutional investors and hedge funds own 91.51% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on MCHP shares. Susquehanna boosted their price objective on shares of Microchip Technology from $60.00 to $90.00 and gave the company a "positive" rating in a report on Tuesday, July 22nd. Rosenblatt Securities boosted their price target on shares of Microchip Technology from $63.00 to $70.00 and gave the stock a "buy" rating in a research note on Friday, May 30th. Citigroup boosted their price target 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 boosted their price target on shares of Microchip Technology from $52.00 to $64.00 and gave the stock a "hold" rating in a research note on Wednesday, June 18th. Finally, Needham & Company LLC boosted their price target on shares of Microchip Technology from $66.00 to $77.00 and gave the stock a "buy" rating in a research note on Friday, August 8th. One investment analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating and six have given a Hold rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $76.58.

Insider Activity at Microchip Technology

In other news, CFO James Eric Bjornholt sold 7,356 shares of the stock in a transaction that occurred on Monday, August 25th. The stock was 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 directly owned 30,010 shares of the company's stock, valued at approximately $2,062,287.20. This represents a 19.69% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Matthew W. Chapman sold 10,000 shares of the stock in a transaction that occurred 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 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 ownership of the stock. The disclosure for this sale can be found here. 1.94% of the stock is currently owned by corporate insiders.

Microchip Technology Stock Down 0.8%

Shares of Microchip Technology stock traded down $0.54 on Tuesday, reaching $64.76. 4,165,859 shares of the company were exchanged, compared to its average volume of 10,275,372. The stock's 50 day moving average price is $68.72 and its 200-day moving average price is $59.53. The company has a debt-to-equity ratio of 0.80, a current ratio of 2.31 and a quick ratio of 1.33. The company has a market cap of $34.95 billion, a P/E ratio of -190.47, a price-to-earnings-growth ratio of 1.89 and a beta of 1.56. Microchip Technology Incorporated has a 1-year low of $34.13 and a 1-year high of $81.64.

Microchip Technology (NASDAQ:MCHP - Get Free Report) last issued its quarterly earnings data on Thursday, August 7th. The semiconductor company reported $0.27 earnings per share for the quarter, topping the consensus estimate of $0.24 by $0.03. The business had revenue of $1.08 billion during the quarter, compared to the consensus estimate 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 was down 13.3% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.53 EPS. Microchip Technology has set its Q2 2026 guidance at 0.340-0.370 EPS. As a group, equities analysts forecast that Microchip Technology Incorporated will post 1.03 EPS for the current year.

Microchip Technology Announces Dividend

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

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.