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

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

Other institutional investors have also recently added to or reduced their stakes in the company. MCF Advisors LLC grew its holdings in 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 buying an additional 321 shares in the last quarter. Carderock Capital Management Inc. acquired a new position in shares of Microchip Technology during the 2nd quarter valued at about $39,000. WPG Advisers LLC acquired a new position in shares of Microchip Technology during the 1st quarter valued at about $40,000. Painted Porch Advisors LLC purchased a new stake in shares of Microchip Technology in the second quarter valued at about $40,000. Finally, Fourth Dimension Wealth LLC increased its position in Microchip Technology by 98.7% during the second quarter. Fourth Dimension Wealth LLC now owns 600 shares of the semiconductor company’s stock worth $42,000 after purchasing an additional 298 shares during the last quarter. Hedge funds and other institutional investors own 91.51% of the company’s stock.

Analyst Ratings Changes

MCHP has been the topic of several recent analyst reports. Citigroup decreased their target price on shares of Microchip Technology from $90.00 to $80.00 and set a “buy” rating on the stock in a report on Friday. Needham & Company LLC decreased their price objective on Microchip Technology from $77.00 to $73.00 and set a “buy” rating on the stock in a report on Friday. Weiss Ratings reissued a “sell (d+)” rating on shares of Microchip Technology in a research note on Wednesday, October 8th. Stifel Nicolaus reduced their target price on Microchip Technology from $82.00 to $75.00 and set a “buy” rating on the stock in a research report on Friday. Finally, Piper Sandler increased their price target on Microchip Technology from $65.00 to $80.00 and gave the stock an “overweight” rating in a report on Friday, August 8th. One investment analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating, seven have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, Microchip Technology presently has a consensus rating of “Moderate Buy” and a consensus price target of $73.47.

Microchip Technology Stock Down 5.2%

Shares of NASDAQ MCHP opened at $56.28 on Monday. The company has a quick ratio of 1.33, a current ratio of 2.31 and a debt-to-equity ratio of 0.80. The business’s 50 day moving average is $64.24 and its two-hundred day moving average is $64.41. Microchip Technology Incorporated has a 52-week low of $34.13 and a 52-week high of $77.20. The firm has a market cap of $30.37 billion, a price-to-earnings ratio of -165.53, a PEG ratio of 1.79 and a beta of 1.57.

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, beating analysts’ consensus estimates of $0.33 by $0.02. The business had revenue of $1.14 billion during the quarter, compared to analysts’ expectations of $1.13 billion. Microchip Technology had a positive return on equity of 6.24% and a negative net margin of 3.50%.The company’s revenue was down 2.0% on a year-over-year basis. During the same period in the previous year, the firm posted $0.46 earnings per share. Microchip Technology has set its Q3 2026 guidance at 0.340-0.400 EPS. Research analysts predict that Microchip Technology Incorporated will post 1.03 EPS for the current 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 issued a $0.455 dividend. The ex-dividend date is Monday, November 24th. This represents a $1.82 dividend on an annualized basis and a dividend yield of 3.2%. Microchip Technology’s payout ratio is -404.44%.

Insider Buying and Selling

In related news, CFO James Eric Bjornholt sold 7,356 shares of the company’s 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 sale, the chief financial officer directly owned 30,010 shares of the company’s stock, valued at $2,062,287.20. This represents a 19.69% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Matthew W. Chapman sold 10,000 shares of the stock in a transaction that occurred on 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 in the company, valued at approximately $2,092,886.25. This trade represents a 24.59% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 1.94% of the company’s stock.

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.