First Citizens Bank & Trust Co. Lowers Stock Holdings in Microchip Technology Incorporated $MCHP

First Citizens Bank & Trust Co. reduced its position in Microchip Technology Incorporated (NASDAQ:MCHP) by 29.5% in the 2nd quarter, according to its most recent filing with the SEC. The firm 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 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of MCHP. MCF Advisors LLC boosted its holdings in shares of Microchip Technology by 211.2% in the 2nd quarter. MCF Advisors LLC now owns 473 shares of the semiconductor company’s stock valued at $33,000 after purchasing an additional 321 shares during the last quarter. Carderock Capital Management Inc. acquired a new position in shares of Microchip Technology in the 2nd quarter valued at $39,000. WPG Advisers LLC acquired a new position in shares of Microchip Technology in the 1st quarter valued at $40,000. Painted Porch Advisors LLC acquired a new position in shares of Microchip Technology in the 2nd quarter valued at $40,000. Finally, GW&K Investment Management LLC boosted its holdings in shares of Microchip Technology by 161.0% in the 1st quarter. GW&K Investment Management LLC now owns 937 shares of the semiconductor company’s stock valued at $45,000 after purchasing an additional 578 shares during the last quarter. 91.51% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Microchip Technology news, Director Matthew W. Chapman sold 10,000 shares of the business’s stock in a transaction on Monday, August 25th. The shares were 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 position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO James Eric Bjornholt sold 7,356 shares of the business’s 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 completion of the transaction, 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 position. The disclosure for this sale can be found here. Insiders own 1.94% of the company’s stock.

Microchip Technology Stock Performance

NASDAQ:MCHP opened at $65.09 on Friday. Microchip Technology Incorporated has a twelve month low of $34.13 and a twelve month 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 firm has a market capitalization of $35.13 billion, a price-to-earnings ratio of -191.44, a PEG ratio of 1.85 and a beta of 1.55. The firm’s fifty day simple moving average is $65.33 and its 200 day simple moving average is $62.22.

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

Microchip Technology Dividend Announcement

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

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on the stock. Raymond James Financial lifted their price target on shares of Microchip Technology from $65.00 to $75.00 and gave the company a “strong-buy” rating in a report on Friday, August 8th. Wells Fargo & Company assumed coverage on shares of Microchip Technology in a report on Monday, September 15th. They issued an “equal weight” rating and a $60.00 price target on the stock. UBS Group lifted their price target on shares of Microchip Technology from $65.00 to $85.00 and gave the company a “buy” rating in a report on Monday, July 7th. Stifel Nicolaus lifted their target price on shares of Microchip Technology from $70.00 to $82.00 and gave the company a “buy” rating in a report on Friday, July 18th. Finally, Needham & Company LLC lifted their target price 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. One investment analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, seven have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, Microchip Technology presently has an average rating of “Moderate Buy” and a consensus price target of $75.75.

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.