Microchip Technology Incorporated $MCHP Stock Holdings Decreased by First Citizens Bank & Trust Co.

First Citizens Bank & Trust Co. lowered its stake in Microchip Technology Incorporated (NASDAQ:MCHP) by 29.5% in the 2nd quarter, according to its most recent filing with the SEC. The fund owned 51,951 shares of the semiconductor company’s stock after selling 21,786 shares during the period. First Citizens Bank & Trust Co.’s holdings in Microchip Technology were worth $3,656,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Vanguard Group Inc. increased its position in shares of Microchip Technology by 0.6% in the 1st quarter. Vanguard Group Inc. now owns 69,302,614 shares of the semiconductor company’s stock worth $3,354,940,000 after purchasing an additional 390,269 shares during the last quarter. Invesco Ltd. increased its position in shares of Microchip Technology by 63.0% in the 1st quarter. Invesco Ltd. now owns 16,707,031 shares of the semiconductor company’s stock worth $808,787,000 after purchasing an additional 6,459,123 shares during the last quarter. T. Rowe Price Investment Management Inc. increased its position in shares of Microchip Technology by 0.9% in the 1st quarter. T. Rowe Price Investment Management Inc. now owns 16,630,574 shares of the semiconductor company’s stock worth $805,087,000 after purchasing an additional 152,434 shares during the last quarter. Boston Partners increased its position in shares of Microchip Technology by 35.3% in the 1st quarter. Boston Partners now owns 10,726,413 shares of the semiconductor company’s stock worth $517,082,000 after purchasing an additional 2,795,650 shares during the last quarter. Finally, Amundi increased its position in shares of Microchip Technology by 22.7% in the 1st quarter. Amundi now owns 10,013,285 shares of the semiconductor company’s stock worth $484,743,000 after purchasing an additional 1,849,866 shares during the last quarter. Institutional investors own 91.51% of the company’s stock.

Microchip Technology Price Performance

NASDAQ MCHP opened at $65.09 on Friday. Microchip Technology Incorporated has a 52 week low of $34.13 and a 52 week high of $79.44. 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 stock has a market cap of $35.13 billion, a price-to-earnings ratio of -191.44, a price-to-earnings-growth ratio of 1.85 and a beta of 1.55. The company has a 50-day moving average price of $65.33 and a two-hundred day moving average price of $62.22.

Microchip Technology (NASDAQ:MCHP) last posted its earnings results on Thursday, August 7th. The semiconductor company reported $0.27 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 analysts’ expectations of $1.05 billion. Microchip Technology had a negative net margin of 3.50% and a positive return on equity of 6.24%. Microchip Technology’s quarterly revenue was down 13.3% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.53 EPS. Microchip Technology has set its Q2 2026 guidance at 0.340-0.370 EPS. Analysts forecast that Microchip Technology Incorporated will post 1.03 EPS for the current year.

Microchip Technology Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, September 5th. Shareholders of record on Friday, August 22nd were paid 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 yield of 2.8%. Microchip Technology’s payout ratio is presently -535.29%.

Wall Street Analysts Forecast Growth

MCHP has been the subject of several research analyst reports. Mizuho boosted their target price 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. Raymond James Financial boosted their price objective on shares of Microchip Technology from $65.00 to $75.00 and gave the company a “strong-buy” rating in a research report on Friday, August 8th. Wells Fargo & Company began coverage on shares of Microchip Technology in a research report on Monday, September 15th. They set an “equal weight” rating and a $60.00 price objective for the company. UBS Group boosted their price objective on shares of Microchip Technology from $65.00 to $85.00 and gave the company a “buy” rating in a research report on Monday, July 7th. Finally, Citigroup boosted their price objective on shares of Microchip Technology from $68.00 to $90.00 and gave the company a “buy” rating in a research report on Monday, July 7th. One research analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating, seven have given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $75.75.

Insider Buying and Selling at Microchip Technology

In other Microchip Technology news, CFO James Eric Bjornholt sold 7,356 shares of Microchip Technology stock in a transaction 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. The trade was a 19.69% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Matthew W. Chapman sold 10,000 shares of the stock in a transaction that occurred on Monday, August 25th. The shares were sold at an average price of $68.25, for a total transaction of $682,500.00. Following the completion of the transaction, the director owned 30,665 shares of the company’s stock, valued at $2,092,886.25. This trade represents a 24.59% decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.94% of the stock is owned by insiders.

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.