Raleigh Capital Management Inc. Sells 329 Shares of Microchip Technology Incorporated $MCHP

Raleigh Capital Management Inc. decreased its position in Microchip Technology Incorporated (NASDAQ:MCHP) by 41.4% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 465 shares of the semiconductor company’s stock after selling 329 shares during the period. Raleigh Capital Management Inc.’s holdings in Microchip Technology were worth $33,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. First Citizens Bank & Trust Co. lifted its stake in Microchip Technology by 468.2% during the 1st quarter. First Citizens Bank & Trust Co. now owns 73,737 shares of the semiconductor company’s stock valued at $3,570,000 after acquiring an additional 60,760 shares during the period. Everhart Financial Group Inc. purchased a new stake in shares of Microchip Technology during the 1st quarter valued at about $221,000. Sowell Financial Services LLC purchased a new stake in Microchip Technology in the 1st quarter worth approximately $318,000. Thompson Investment Management Inc. increased its holdings in Microchip Technology by 9.9% in the 1st quarter. Thompson Investment Management Inc. now owns 91,016 shares of the semiconductor company’s stock worth $4,406,000 after acquiring an additional 8,175 shares in the last quarter. Finally, Oppenheimer Asset Management Inc. increased its holdings in Microchip Technology by 35.8% in the 1st quarter. Oppenheimer Asset Management Inc. now owns 33,554 shares of the semiconductor company’s stock worth $1,624,000 after acquiring an additional 8,843 shares in the last quarter. Institutional investors own 91.51% of the company’s stock.

Insider Activity

In other Microchip Technology news, Director Matthew W. Chapman sold 10,000 shares of Microchip Technology stock in a transaction dated Monday, August 25th. The stock was sold at an average price of $68.25, for a total value of $682,500.00. Following the transaction, the director owned 30,665 shares in the company, valued at $2,092,886.25. The trade was a 24.59% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, 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 value of $505,504.32. Following the completion of the transaction, 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 disclosure for this sale can be found here. 1.94% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the stock. Needham & Company LLC increased their price objective on shares of Microchip Technology from $66.00 to $77.00 and gave the company a “buy” rating in a report on Friday, August 8th. The Goldman Sachs Group assumed coverage on Microchip Technology in a research report on Thursday, July 10th. They issued a “buy” rating and a $88.00 price target for the company. Raymond James Financial raised their price target on Microchip Technology from $65.00 to $75.00 and gave the stock a “strong-buy” rating in a research report on Friday, August 8th. Truist Financial raised their price target on Microchip Technology from $52.00 to $64.00 and gave the stock a “hold” rating in a research report on Wednesday, June 18th. Finally, KeyCorp raised their price target on Microchip Technology from $70.00 to $85.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 8th. One investment analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and seven have assigned a Hold rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $75.75.

Microchip Technology Stock Performance

Shares of Microchip Technology stock opened at $64.11 on Thursday. The firm has a market cap of $34.60 billion, a P/E ratio of -188.56, a P/E/G ratio of 1.84 and a beta of 1.55. The company has a current ratio of 2.31, a quick ratio of 1.33 and a debt-to-equity ratio of 0.80. Microchip Technology Incorporated has a 12 month low of $34.13 and a 12 month high of $79.53. The stock’s fifty day moving average price is $65.76 and its 200-day moving average price is $60.42.

Microchip Technology (NASDAQ:MCHP) last announced its quarterly earnings results on Thursday, August 7th. The semiconductor company reported $0.27 EPS for the quarter, beating the consensus estimate of $0.24 by $0.03. The firm had revenue of $1.08 billion for the quarter, compared to analyst estimates of $1.05 billion. Microchip Technology had a positive return on equity of 6.24% and a negative net margin of 3.50%.The business’s revenue for the quarter was down 13.3% on a year-over-year basis. During the same quarter last year, the firm posted $0.53 earnings per share. Microchip Technology has set its Q2 2026 guidance at 0.340-0.370 EPS. On average, equities research analysts expect that Microchip Technology Incorporated will post 1.03 earnings per share for the current fiscal year.

Microchip Technology Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, September 5th. Shareholders of record on Friday, August 22nd were paid a $0.455 dividend. This represents a $1.82 annualized dividend and a yield of 2.8%. The ex-dividend date was Friday, August 22nd. Microchip Technology’s payout ratio is -535.29%.

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.