Synovus Financial Corp Cuts Stock Position in Microchip Technology Incorporated $MCHP

Key Points

• Synovus Financial Corp has significantly reduced its stake in Microchip Technology by 67.8%, now holding 20,028 shares valued at approximately $970,000.
• Other institutional investors have increased their investments in Microchip Technology, with First Citizens Bank & Trust Co. increasing its stake by 468.2%.
• Analysts have varied opinions on Microchip Technology, with target prices ranging from $39 to $90 and an average consensus rating of "Moderate Buy."

Synovus Financial Corp cut its holdings in Microchip Technology Incorporated (NASDAQ:MCHP - Free Report) by 67.8% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 20,028 shares of the semiconductor company's stock after selling 42,233 shares during the period. Synovus Financial Corp's holdings in Microchip Technology were worth $970,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Garde Capital Inc. bought a new position in Microchip Technology in the first quarter worth approximately $30,000. Orion Capital Management LLC bought a new position in Microchip Technology in the fourth quarter worth approximately $41,000. Byrne Asset Management LLC bought a new position in Microchip Technology in the first quarter worth approximately $41,000. GW&K Investment Management LLC raised its position in shares of Microchip Technology by 161.0% during the 1st 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 bought a new stake in shares of Microchip Technology during the 1st quarter valued at $48,000. 91.51% of the stock is currently owned by institutional investors.

Microchip Technology Trading Down 0.4%

Shares of Microchip Technology stock traded down $0.25 during trading on Monday, hitting $65.00. The stock had a trading volume of 9,209,632 shares, compared to its average volume of 9,431,667. The firm's fifty day simple moving average is $69.42 and its 200-day simple moving average is $59.32. The stock has a market cap of $35.08 billion, a PE ratio of -191.18, a PEG ratio of 1.88 and a beta of 1.56. The company has a debt-to-equity ratio of 0.80, a current ratio of 2.31 and a quick ratio of 1.33. 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 released its earnings results 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 firm had revenue of $1.08 billion during the quarter, compared to analyst estimates of $1.05 billion. Microchip Technology had a negative net margin of 3.50% and a positive return on equity of 6.24%. The business's revenue was down 13.3% on a year-over-year basis. During the same quarter last year, the business earned $0.53 EPS. Microchip Technology has set its Q2 2026 guidance at 0.340-0.370 EPS. As a group, sell-side analysts expect that Microchip Technology Incorporated will post 1.03 EPS for the current fiscal year.

Microchip Technology Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 5th. Investors of record on Friday, August 22nd will be issued a dividend of $0.455 per share. The ex-dividend date is Friday, August 22nd. This represents a $1.82 dividend on an annualized basis and a yield of 2.8%. Microchip Technology's dividend payout ratio (DPR) is presently -535.29%.

Insider Transactions at Microchip Technology

In related news, CFO James Eric Bjornholt sold 7,356 shares of Microchip Technology stock in a transaction dated Monday, August 25th. The shares were sold at an average price of $68.72, for a total transaction of $505,504.32. Following the completion of the sale, the chief financial officer owned 30,010 shares in the company, valued at $2,062,287.20. This trade represents a 19.69% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Matthew W. Chapman sold 10,000 shares of Microchip Technology stock in a transaction dated Monday, August 25th. The shares were sold at an average price of $68.25, for a total transaction of $682,500.00. Following the sale, the director owned 30,665 shares of the company's stock, valued at $2,092,886.25. The trade was a 24.59% decrease in their position. The disclosure for this sale can be found here. Company insiders own 1.94% of the company's stock.

Analyst Ratings Changes

Several brokerages have recently commented on MCHP. The Goldman Sachs Group began coverage on shares of Microchip Technology in a research report on Thursday, July 10th. They set a "buy" rating and a $88.00 price objective on the stock. KeyCorp raised their target price on shares of Microchip Technology from $70.00 to $85.00 and gave the company an "overweight" rating in a research note on Tuesday, July 8th. Piper Sandler raised their target price on shares of Microchip Technology from $65.00 to $80.00 and gave the company an "overweight" rating in a research note on Friday, August 8th. Morgan Stanley raised their target price on shares of Microchip Technology from $39.00 to $50.00 and gave the company an "equal weight" rating in a research note on Friday, May 9th. Finally, Rosenblatt Securities lifted their price objective 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. One investment analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and six have given a Hold rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus 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.