HighTower Advisors LLC Decreases Stake in Microchip Technology Incorporated $MCHP

Key Points

• HighTower Advisors LLC reduced its stake in Microchip Technology by 9.7%, selling 9,335 shares and holding a total of 86,648 shares worth approximately $4.19 million.
• Recent analyst ratings for Microchip Technology have been positive, with several firms raising target prices and giving ratings between "buy" and "outperform."
• The company announced a quarterly dividend of $0.455 per share, with an annualized dividend yield of 2.7%, scheduled for distribution on September 5th.

HighTower Advisors LLC lessened its stake in shares of Microchip Technology Incorporated (NASDAQ:MCHP - Free Report) by 9.7% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 86,648 shares of the semiconductor company's stock after selling 9,335 shares during the quarter. HighTower Advisors LLC's holdings in Microchip Technology were worth $4,195,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in MCHP. Garde Capital Inc. purchased a new position in shares of Microchip Technology during the first quarter valued at approximately $30,000. Orion Capital Management LLC acquired a new stake in shares of Microchip Technology during the fourth quarter worth $41,000. Byrne Asset Management LLC acquired a new stake in shares of Microchip Technology during the first quarter worth $41,000. GW&K Investment Management LLC grew its position in shares of Microchip Technology by 161.0% in the first quarter. GW&K Investment Management LLC now owns 937 shares of the semiconductor company's stock valued at $45,000 after purchasing an additional 578 shares during the period. Finally, American National Bank & Trust acquired a new position in Microchip Technology in the first quarter valued at $48,000. 91.51% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have commented on MCHP. Zacks Research cut Microchip Technology from a "strong-buy" rating to a "hold" rating in a report on Monday, August 18th. Wall Street Zen raised shares of Microchip Technology from a "sell" rating to a "hold" rating in a research report on Friday, June 27th. Mizuho upped their price target on shares of Microchip Technology from $78.00 to $85.00 and gave the stock an "outperform" rating in a research report on Tuesday, July 8th. KeyCorp lifted their price target on shares of Microchip Technology from $70.00 to $85.00 and gave the company an "overweight" rating in a report on Tuesday, July 8th. Finally, B. Riley upped their price objective on Microchip Technology from $60.00 to $75.00 and gave the stock a "buy" rating in a report on Friday, May 9th. One 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. Based on data from MarketBeat, Microchip Technology has a consensus rating of "Moderate Buy" and a consensus target price of $76.58.

Microchip Technology Stock Up 4.6%

Shares of NASDAQ:MCHP traded up $3.04 during midday trading on Friday, hitting $69.14. 12,427,539 shares of the company's stock traded hands, compared to its average volume of 9,231,423. The firm's fifty day moving average price is $69.57 and its two-hundred day moving average price is $58.80. 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 Incorporated has a twelve month low of $34.13 and a twelve month high of $82.65. The company has a market cap of $37.31 billion, a PE ratio of -203.35, a P/E/G ratio of 2.00 and a beta of 1.55.

Microchip Technology (NASDAQ:MCHP - Get Free Report) last released its quarterly earnings data on Thursday, August 7th. The semiconductor company reported $0.27 EPS for the quarter, beating the consensus estimate of $0.24 by $0.03. Microchip Technology had a positive return on equity of 6.24% and a negative net margin of 3.50%.The company had revenue of $1.08 billion for the quarter, compared to analyst estimates of $1.05 billion. During the same period last year, the company posted $0.53 earnings per share. The firm's revenue 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, equities research analysts anticipate that Microchip Technology Incorporated will post 1.03 EPS for the current fiscal year.

Microchip Technology Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, September 5th. Shareholders of record on Friday, August 22nd will be issued a $0.455 dividend. This represents a $1.82 dividend on an annualized basis and a yield of 2.6%. The ex-dividend date is Friday, August 22nd. Microchip Technology's dividend payout ratio is currently -535.29%.

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.