Microchip Technology Incorporated $MCHP Shares Sold by Peoples Financial Services CORP.

Key Points

• Peoples Financial Services CORP. reduced its stake in Microchip Technology by 32.1%, selling 3,885 shares to hold 8,211 shares worth $578,000 as of its latest filing.
• Microchip Technology's stock is currently trading at $64.42 and has a market cap of $34.77 billion, despite a 13.3% year-over-year revenue decline.
• The company recently announced a quarterly dividend of $0.455 per share, resulting in a dividend yield of 2.8%, with a high dividend payout ratio of -535.29%.

Peoples Financial Services CORP. trimmed its position in shares of Microchip Technology Incorporated (NASDAQ:MCHP - Free Report) by 32.1% during the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 8,211 shares of the semiconductor company's stock after selling 3,885 shares during the period. Peoples Financial Services CORP.'s holdings in Microchip Technology were worth $578,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. MCF Advisors LLC lifted its stake in Microchip Technology by 211.2% during the second quarter. MCF Advisors LLC now owns 473 shares of the semiconductor company's stock worth $33,000 after purchasing an additional 321 shares in the last quarter. Carderock Capital Management Inc. acquired a new stake in shares of Microchip Technology in the second quarter valued at $39,000. Painted Porch Advisors LLC acquired a new stake in shares of Microchip Technology in the second quarter valued at $40,000. Garde Capital Inc. acquired a new stake in shares of Microchip Technology in the first quarter valued at $30,000. Finally, WPG Advisers LLC acquired a new stake in shares of Microchip Technology in the first quarter valued at $40,000. 91.51% of the stock is currently owned by institutional investors and hedge funds.

Microchip Technology Stock Down 0.6%

Microchip Technology stock opened at $64.42 on Monday. Microchip Technology Incorporated has a 1-year low of $34.13 and a 1-year high of $81.64. 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 stock has a market cap of $34.77 billion, a PE ratio of -189.47, a P/E/G ratio of 1.85 and a beta of 1.56. The stock's fifty day moving average is $66.30 and its two-hundred day moving average is $60.29.

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 (EPS) for the quarter, topping the consensus estimate of $0.24 by $0.03. The company had revenue of $1.08 billion for the quarter, compared to analyst estimates of $1.05 billion. Microchip Technology had a positive return on equity of 6.24% and a negative net margin of 3.50%.The business's quarterly revenue was down 13.3% compared to the same quarter last year. During the same quarter last year, the company posted $0.53 earnings per share. Microchip Technology has set its Q2 2026 guidance at 0.340-0.370 EPS. On average, sell-side analysts expect that Microchip Technology Incorporated will post 1.03 EPS for the current fiscal year.

Microchip Technology Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 5th. Shareholders of record on Friday, August 22nd were issued 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 dividend yield of 2.8%. Microchip Technology's dividend payout ratio (DPR) is presently -535.29%.

Insider Activity

In other Microchip Technology news, Director Matthew W. Chapman sold 10,000 shares of the firm's stock in a transaction dated Monday, August 25th. The stock was sold at an average price of $68.25, for a total transaction of $682,500.00. Following the transaction, 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 ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO James Eric Bjornholt sold 7,356 shares of the firm's stock in a transaction dated Monday, August 25th. The stock was sold at an average price of $68.72, for a total value of $505,504.32. Following the transaction, the chief financial officer directly 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.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on MCHP shares. TD Cowen reduced their price objective on Microchip Technology from $75.00 to $60.00 and set a "hold" rating on the stock in a research note on Friday, August 8th. Cantor Fitzgerald started coverage on Microchip Technology in a research note on Wednesday, June 18th. They issued a "neutral" rating and a $70.00 price objective on the stock. Citigroup increased their price objective on Microchip Technology from $68.00 to $90.00 and gave the company a "buy" rating in a research note on Monday, July 7th. Susquehanna increased their price objective on Microchip Technology from $60.00 to $90.00 and gave the company a "positive" rating in a research note on Tuesday, July 22nd. Finally, The Goldman Sachs Group began coverage on Microchip Technology in a research note on Thursday, July 10th. They issued a "buy" rating and a $88.00 price objective on the stock. One 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. According to data from MarketBeat.com, Microchip Technology has a consensus rating of "Moderate Buy" and an average price target of $75.75.

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.

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