Microchip Technology Incorporated $MCHP Shares Sold by Summit Investment Advisors Inc.

Summit Investment Advisors Inc. reduced its holdings in shares of Microchip Technology Incorporated (NASDAQ:MCHP) by 15.1% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 38,667 shares of the semiconductor company’s stock after selling 6,880 shares during the quarter. Summit Investment Advisors Inc.’s holdings in Microchip Technology were worth $1,872,000 as of its most recent filing with the SEC.

A number of other hedge funds have also made changes to their positions in MCHP. Mizuho Markets Cayman LP acquired a new position in Microchip Technology in the 2nd quarter valued at $107,584,000. Argonautica Private Wealth Management Inc. acquired a new stake in shares of Microchip Technology in the 1st quarter worth $428,000. Charles Schwab Investment Management Inc. boosted its holdings in shares of Microchip Technology by 3.9% in the first quarter. Charles Schwab Investment Management Inc. now owns 3,266,402 shares of the semiconductor company’s stock valued at $158,127,000 after acquiring an additional 122,633 shares in the last quarter. Victory Capital Management Inc. increased its stake in shares of Microchip Technology by 18.2% during the first quarter. Victory Capital Management Inc. now owns 602,783 shares of the semiconductor company’s stock worth $29,181,000 after acquiring an additional 92,962 shares during the period. Finally, T. Rowe Price Investment Management Inc. increased its stake in shares of Microchip Technology by 0.9% during the first quarter. T. Rowe Price Investment Management Inc. now owns 16,630,574 shares of the semiconductor company’s stock worth $805,087,000 after acquiring an additional 152,434 shares during the period. Hedge funds and other institutional investors own 91.51% of the company’s stock.

Microchip Technology Stock Performance

MCHP opened at $56.28 on Monday. Microchip Technology Incorporated has a 1-year low of $34.13 and a 1-year high of $77.20. The stock has a market cap of $30.37 billion, a P/E ratio of -165.53, a P/E/G ratio of 1.79 and a beta of 1.57. The stock’s 50 day simple moving average is $64.24 and its 200 day simple moving average is $64.41. 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 (NASDAQ:MCHP) last posted its earnings results on Thursday, November 6th. The semiconductor company reported $0.35 EPS for the quarter, topping analysts’ consensus estimates of $0.33 by $0.02. The company had revenue of $1.14 billion for the quarter, compared to the consensus estimate of $1.13 billion. Microchip Technology had a positive return on equity of 6.24% and a negative net margin of 3.50%.Microchip Technology’s quarterly revenue was down 2.0% compared to the same quarter last year. During the same period in the previous year, the business earned $0.46 earnings per share. Microchip Technology has set its Q3 2026 guidance at 0.340-0.400 EPS. As a group, equities analysts anticipate that Microchip Technology Incorporated will post 1.03 EPS for the current fiscal year.

Microchip Technology Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 9th. Investors of record on Monday, November 24th will be paid a $0.455 dividend. This represents a $1.82 dividend on an annualized basis and a yield of 3.2%. The ex-dividend date of this dividend is Monday, November 24th. Microchip Technology’s dividend payout ratio is presently -404.44%.

Insider Activity

In other Microchip Technology news, Director Matthew W. Chapman sold 10,000 shares of the company’s stock in a transaction dated Monday, August 25th. The shares were sold at an average price of $68.25, for a total value 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 represents a 24.59% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO James Eric Bjornholt sold 7,356 shares of the stock in a transaction that occurred on 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 represents a 19.69% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 1.94% of the company’s stock.

Analyst Ratings Changes

MCHP has been the topic of a number of analyst reports. Zacks Research lowered Microchip Technology from a “strong-buy” rating to a “hold” rating in a report on Monday, August 18th. Susquehanna reduced their price target on Microchip Technology from $85.00 to $75.00 and set a “positive” rating for the company in a report on Friday. Morgan Stanley lifted their price target on Microchip Technology from $63.00 to $68.00 and gave the company an “equal weight” rating in a research note on Tuesday, November 4th. Raymond James Financial upped their price objective on Microchip Technology from $65.00 to $75.00 and gave the stock a “strong-buy” rating in a report on Friday, August 8th. Finally, Weiss Ratings reiterated a “sell (d+)” rating on shares of Microchip Technology in a research report on Wednesday, October 8th. One investment analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, seven have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, Microchip Technology currently has an average rating of “Moderate Buy” and an average price target of $73.47.

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.