Citizens Financial Group Inc. RI Buys 3,036 Shares of Microchip Technology Incorporated $MCHP

Citizens Financial Group Inc. RI boosted its position in shares of Microchip Technology Incorporated (NASDAQ:MCHP) by 56.3% during the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 8,427 shares of the semiconductor company’s stock after buying an additional 3,036 shares during the quarter. Citizens Financial Group Inc. RI’s holdings in Microchip Technology were worth $593,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Avantax Advisory Services Inc. lifted its stake in shares of Microchip Technology by 122.3% during the second quarter. Avantax Advisory Services Inc. now owns 167,989 shares of the semiconductor company’s stock valued at $11,821,000 after acquiring an additional 92,412 shares during the period. Intech Investment Management LLC raised its holdings in Microchip Technology by 48.4% during the 2nd quarter. Intech Investment Management LLC now owns 19,361 shares of the semiconductor company’s stock worth $1,362,000 after purchasing an additional 6,317 shares during the last quarter. SG Capital Management LLC acquired a new position in Microchip Technology during the 2nd quarter valued at about $8,937,000. Creative Planning boosted its stake in shares of Microchip Technology by 9.8% in the 2nd quarter. Creative Planning now owns 164,864 shares of the semiconductor company’s stock valued at $11,601,000 after purchasing an additional 14,742 shares during the last quarter. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS grew its position in shares of Microchip Technology by 7.2% during the 2nd quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 131,903 shares of the semiconductor company’s stock worth $9,282,000 after buying an additional 8,911 shares during the period. 91.51% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

MCHP has been the topic of several analyst reports. Susquehanna cut their price objective on shares of Microchip Technology from $85.00 to $75.00 and set a “positive” rating on the stock in a report on Friday, November 7th. Stifel Nicolaus cut their price target on Microchip Technology from $82.00 to $75.00 and set a “buy” rating on the stock in a research note on Friday, November 7th. Piper Sandler raised their price target on Microchip Technology from $65.00 to $80.00 and gave the stock an “overweight” rating in a research report on Friday, August 8th. Weiss Ratings reiterated a “sell (d+)” rating on shares of Microchip Technology in a report on Wednesday, October 8th. Finally, Wells Fargo & Company cut their target price on Microchip Technology from $60.00 to $58.00 and set an “equal weight” rating on the stock in a research note on Friday, November 7th. One investment analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating, seven have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, Microchip Technology presently has an average rating of “Moderate Buy” and a consensus price target of $73.47.

Insider Transactions at Microchip Technology

In other 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 sale, 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 transaction was disclosed in a document filed with the SEC, which is available 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 sale, the chief financial officer directly owned 30,010 shares in the company, valued at approximately $2,062,287.20. This represents a 19.69% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 1.94% of the stock is currently owned by insiders.

Microchip Technology Stock Down 1.6%

Shares of NASDAQ:MCHP opened at $50.87 on Wednesday. Microchip Technology Incorporated has a 52 week low of $34.13 and a 52 week high of $77.20. The company has a debt-to-equity ratio of 0.80, a quick ratio of 1.33 and a current ratio of 2.31. The company has a market capitalization of $27.49 billion, a PE ratio of -149.62, a PEG ratio of 1.79 and a beta of 1.57. The company has a 50 day moving average price of $62.73 and a two-hundred day moving average price of $64.76.

Microchip Technology (NASDAQ:MCHP) last announced its quarterly earnings results on Thursday, November 6th. The semiconductor company reported $0.35 earnings per share for the quarter, topping analysts’ consensus estimates of $0.33 by $0.02. Microchip Technology had a negative net margin of 3.50% and a positive return on equity of 6.24%. The company had revenue of $1.14 billion for the quarter, compared to analysts’ expectations of $1.13 billion. During the same period last year, the firm posted $0.46 earnings per share. The business’s quarterly revenue was down 2.0% compared to the same quarter last year. Microchip Technology has set its Q3 2026 guidance at 0.340-0.400 EPS. Analysts forecast that Microchip Technology Incorporated will post 1.03 earnings per share for the current year.

Microchip Technology Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 9th. Shareholders of record on Monday, November 24th will be issued a dividend of $0.455 per share. The ex-dividend date is Monday, November 24th. This represents a $1.82 annualized dividend and a yield of 3.6%. Microchip Technology’s payout ratio is currently -404.44%.

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.