Sowell Financial Services LLC Sells 433 Shares of Microchip Technology Incorporated $MCHP

Sowell Financial Services LLC trimmed its stake in Microchip Technology Incorporated (NASDAQ:MCHP) by 6.6% in the second quarter, Holdings Channel reports. The firm owned 6,131 shares of the semiconductor company’s stock after selling 433 shares during the quarter. Sowell Financial Services LLC’s holdings in Microchip Technology were worth $431,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Carderock Capital Management Inc. bought a new stake in Microchip Technology in the second quarter valued at approximately $39,000. Garde Capital Inc. bought a new stake in Microchip Technology in the first quarter valued at approximately $30,000. WPG Advisers LLC bought a new stake in Microchip Technology in the first quarter valued at approximately $40,000. Byrne Asset Management LLC bought a new stake in Microchip Technology in the first quarter valued at approximately $41,000. Finally, GW&K Investment Management LLC raised its stake in 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 buying an additional 578 shares during the period. 91.51% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several analysts have issued reports on MCHP shares. Susquehanna upped 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. Evercore ISI upped their price objective on Microchip Technology from $69.00 to $83.00 and gave the company an “outperform” rating in a research note on Thursday, June 12th. UBS Group upped their price objective on Microchip Technology from $65.00 to $85.00 and gave the company a “buy” rating in a research note on Monday, July 7th. Rosenblatt Securities upped their price objective on Microchip Technology from $63.00 to $70.00 and gave the company a “buy” rating in a research note on Friday, May 30th. Finally, TD Cowen decreased their target price on Microchip Technology from $75.00 to $60.00 and set a “hold” rating on the stock in a research report on Friday, August 8th. One analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and seven have issued a Hold rating to the company. Based on data from MarketBeat.com, Microchip Technology presently has an average rating of “Moderate Buy” and an average price target of $75.75.

Insider Buying and Selling

In related 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 transaction of $505,504.32. Following the sale, the chief financial officer owned 30,010 shares of the company’s stock, valued at $2,062,287.20. This represents a 19.69% decrease in their ownership of the stock. 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 the stock in a transaction that occurred on Monday, August 25th. The stock was sold at an average price of $68.25, for a total value of $682,500.00. Following the sale, the director directly owned 30,665 shares in the company, valued at $2,092,886.25. This represents a 24.59% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 1.94% of the company’s stock.

Microchip Technology Price Performance

Microchip Technology stock opened at $64.84 on Friday. Microchip Technology Incorporated has a 12 month low of $34.13 and a 12 month high of $81.64. The stock’s 50 day moving average is $66.50 and its 200-day moving average is $60.09. 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 market capitalization of $34.99 billion, a price-to-earnings ratio of -190.71, a PEG ratio of 1.89 and a beta of 1.56.

Microchip Technology (NASDAQ:MCHP) last issued its quarterly earnings results on Thursday, August 7th. The semiconductor company reported $0.27 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.24 by $0.03. The business had revenue of $1.08 billion for 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 firm’s quarterly revenue was down 13.3% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.53 earnings per share. Microchip Technology has set its Q2 2026 guidance at 0.340-0.370 EPS. Equities research analysts expect that Microchip Technology Incorporated will post 1.03 EPS for the current year.

Microchip Technology Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, September 5th. Investors of record on Friday, August 22nd were given a dividend of $0.455 per share. The ex-dividend date of this dividend was 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 is currently -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.