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

Citizens Financial Group Inc. RI grew its stake in Microchip Technology Incorporated (NASDAQ:MCHP) by 56.3% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 8,427 shares of the semiconductor company’s stock after purchasing an additional 3,036 shares during the period. Citizens Financial Group Inc. RI’s holdings in Microchip Technology were worth $593,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Sagespring Wealth Partners LLC grew its position in Microchip Technology by 2.7% during the second quarter. Sagespring Wealth Partners LLC now owns 5,787 shares of the semiconductor company’s stock worth $407,000 after buying an additional 154 shares in the last quarter. Mechanics Financial Corp raised its holdings in Microchip Technology by 3.4% in the 2nd quarter. Mechanics Financial Corp now owns 5,014 shares of the semiconductor company’s stock valued at $353,000 after acquiring an additional 167 shares in the last quarter. Global X Japan Co. Ltd. lifted its position in shares of Microchip Technology by 0.4% in the 2nd quarter. Global X Japan Co. Ltd. now owns 45,705 shares of the semiconductor company’s stock worth $3,216,000 after acquiring an additional 174 shares during the period. Bank of Jackson Hole Trust grew its holdings in shares of Microchip Technology by 2.0% during the 2nd quarter. Bank of Jackson Hole Trust now owns 8,828 shares of the semiconductor company’s stock worth $621,000 after purchasing an additional 174 shares in the last quarter. Finally, Pinnacle Bancorp Inc. grew its holdings in shares of Microchip Technology by 18.9% during the 2nd quarter. Pinnacle Bancorp Inc. now owns 1,206 shares of the semiconductor company’s stock worth $85,000 after purchasing an additional 192 shares in the last quarter. Institutional investors own 91.51% of the company’s stock.

Microchip Technology Trading Down 1.6%

Shares of Microchip Technology stock opened at $50.87 on Wednesday. Microchip Technology Incorporated has a 12-month low of $34.13 and a 12-month high of $77.20. The stock has a market capitalization of $27.49 billion, a P/E ratio of -149.62, a price-to-earnings-growth ratio of 1.79 and a beta of 1.57. The company has a 50-day simple moving average of $62.73 and a 200 day simple moving average of $64.76. The company has a quick ratio of 1.33, a current ratio of 2.31 and a debt-to-equity ratio of 0.80.

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

Microchip Technology Announces Dividend

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

Analyst Upgrades and Downgrades

A number of research analysts recently commented on MCHP shares. Stifel Nicolaus cut their target price on Microchip Technology from $82.00 to $75.00 and set a “buy” rating for the company in a research note on Friday, November 7th. Weiss Ratings restated a “sell (d+)” rating on shares of Microchip Technology in a research note on Wednesday, October 8th. Morgan Stanley lifted their price objective on Microchip Technology from $63.00 to $68.00 and gave the company an “equal weight” rating in a report on Tuesday, November 4th. TD Cowen dropped their target price on Microchip Technology from $65.00 to $60.00 and set a “hold” rating for the company in a report on Friday, November 7th. Finally, Truist Financial restated a “hold” rating and set a $60.00 target price (down previously from $64.00) on shares of Microchip Technology in a research report on Friday, November 7th. One analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating, seven have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $73.47.

Insiders Place Their Bets

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 value of $505,504.32. Following the completion of the transaction, the chief financial officer owned 30,010 shares in the company, valued at approximately $2,062,287.20. The trade was a 19.69% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Matthew W. Chapman sold 10,000 shares of the business’s stock in a transaction on Monday, August 25th. The stock was sold at an average price of $68.25, for a total value of $682,500.00. Following the completion of the transaction, the director directly owned 30,665 shares in the company, valued at approximately $2,092,886.25. This represents a 24.59% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 1.94% of the company’s stock.

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.