Microchip Technology Incorporated $MCHP Shares Sold by Muhlenkamp & Co. Inc.

Key Points

• Muhlenkamp & Co. Inc. reduced its stake in Microchip Technology by 5.8%, now holding 111,060 shares worth approximately $5.38 million.
• Insider trading activity includes CFO James Eric Bjornholt selling 2,015 shares and Director Karlton D. Johnson selling 494 shares, both reflecting a decrease in their ownership positions.
• Microchip Technology announced a quarterly dividend of $0.455 per share, with the next payment scheduled for September 5th, representing an annual yield of 2.8%.

Muhlenkamp & Co. Inc. trimmed its position in shares of Microchip Technology Incorporated (NASDAQ:MCHP - Free Report) by 5.8% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 111,060 shares of the semiconductor company's stock after selling 6,832 shares during the quarter. Microchip Technology makes up 1.8% of Muhlenkamp & Co. Inc.'s portfolio, making the stock its 22nd biggest holding. Muhlenkamp & Co. Inc.'s holdings in Microchip Technology were worth $5,376,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. Watts Gwilliam & Co. LLC raised its holdings in shares of Microchip Technology by 128.6% in the first quarter. Watts Gwilliam & Co. LLC now owns 61,396 shares of the semiconductor company's stock worth $2,972,000 after acquiring an additional 34,535 shares during the last quarter. Brooklyn Investment Group raised its holdings in shares of Microchip Technology by 89.1% in the first quarter. Brooklyn Investment Group now owns 4,464 shares of the semiconductor company's stock worth $216,000 after acquiring an additional 2,103 shares during the last quarter. Summit Securities Group LLC raised its holdings in shares of Microchip Technology by 2,755.3% in the first quarter. Summit Securities Group LLC now owns 2,427 shares of the semiconductor company's stock worth $117,000 after acquiring an additional 2,342 shares during the last quarter. Aberdeen Group plc raised its holdings in Microchip Technology by 115.1% in the 1st quarter. Aberdeen Group plc now owns 397,205 shares of the semiconductor company's stock valued at $18,959,000 after acquiring an additional 212,505 shares during the last quarter. Finally, Horizon Investments LLC raised its holdings in Microchip Technology by 3.1% in the 1st quarter. Horizon Investments LLC now owns 15,531 shares of the semiconductor company's stock valued at $752,000 after acquiring an additional 467 shares during the last quarter. Institutional investors and hedge funds own 91.51% of the company's stock.

Insider Activity at Microchip Technology

In related news, CFO James Eric Bjornholt sold 2,015 shares of the stock in a transaction dated Friday, May 23rd. The shares were sold at an average price of $55.78, for a total value of $112,396.70. Following the sale, the chief financial officer owned 34,313 shares of the company's stock, valued at $1,913,979.14. This trade represents a 5.55% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 1.94% of the company's stock.

Analyst Ratings Changes

MCHP has been the topic of several recent analyst reports. TD Cowen cut their price objective on shares of Microchip Technology from $75.00 to $60.00 and set a "hold" rating on the stock in a report on Friday, August 8th. B. Riley upped their price target on Microchip Technology from $60.00 to $75.00 and gave the stock a "buy" rating in a research note on Friday, May 9th. Raymond James Financial upped their price target on Microchip Technology from $65.00 to $75.00 and gave the stock a "strong-buy" rating in a research note on Friday, August 8th. Citigroup upped their price target on Microchip Technology from $68.00 to $90.00 and gave the stock a "buy" rating in a research note on Monday, July 7th. Finally, Morgan Stanley upped their price target on Microchip Technology from $39.00 to $50.00 and gave the stock an "equal weight" rating in a research note on Friday, May 9th. One analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating and six have assigned a Hold rating to the company. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $76.58.

Microchip Technology Stock Down 1.0%

NASDAQ:MCHP traded down $0.66 on Thursday, reaching $66.10. The stock had a trading volume of 5,931,054 shares, compared to its average volume of 10,411,636. The company has a current ratio of 2.31, a quick ratio of 1.33 and a debt-to-equity ratio of 0.80. The company has a 50-day moving average of $69.50 and a 200 day moving average of $58.65. The stock has a market cap of $35.67 billion, a P/E ratio of -194.41, a price-to-earnings-growth ratio of 1.87 and a beta of 1.55. Microchip Technology Incorporated has a 12-month low of $34.13 and a 12-month high of $82.65.

Microchip Technology (NASDAQ:MCHP - Get Free Report) last posted its quarterly earnings results on Thursday, August 7th. The semiconductor company reported $0.27 EPS for the quarter, topping analysts' consensus estimates 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 positive return on equity of 6.24% and a negative net margin of 3.50%.The company's revenue for the quarter was down 13.3% compared to the same quarter last year. During the same period last year, the firm earned $0.53 earnings per share. Microchip Technology has set its Q2 2026 guidance at 0.340-0.370 EPS. On average, research analysts predict that Microchip Technology Incorporated will post 1.03 earnings per share for the current year.

Microchip Technology Announces Dividend

The company 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. The ex-dividend date of this dividend is Friday, August 22nd. This represents a $1.82 annualized dividend and a dividend 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.