Cerity Partners LLC Cuts Stock Holdings in Microchip Technology Incorporated $MCHP

Cerity Partners LLC reduced its stake in shares of Microchip Technology Incorporated (NASDAQ:MCHP) by 11.7% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 146,846 shares of the semiconductor company’s stock after selling 19,496 shares during the quarter. Cerity Partners LLC’s holdings in Microchip Technology were worth $10,334,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. MCF Advisors LLC grew its position in Microchip Technology by 211.2% during the 2nd quarter. MCF Advisors LLC now owns 473 shares of the semiconductor company’s stock worth $33,000 after acquiring an additional 321 shares during the last quarter. Carderock Capital Management Inc. purchased a new stake in shares of Microchip Technology during the second quarter valued at approximately $39,000. WPG Advisers LLC bought a new position in shares of Microchip Technology in the first quarter worth approximately $40,000. Painted Porch Advisors LLC bought a new position in shares of Microchip Technology in the second quarter worth approximately $40,000. Finally, Fourth Dimension Wealth LLC increased its stake in shares of Microchip Technology by 98.7% in the second quarter. Fourth Dimension Wealth LLC now owns 600 shares of the semiconductor company’s stock worth $42,000 after buying an additional 298 shares during the period. Institutional investors own 91.51% of the company’s stock.

Microchip Technology Trading Up 1.6%

MCHP opened at $67.90 on Thursday. The stock has a market cap of $36.70 billion, a PE ratio of -150.89, a PEG ratio of 2.11 and a beta of 1.47. The business has a 50 day moving average of $60.35 and a 200-day moving average of $64.79. Microchip Technology Incorporated has a 52 week low of $34.13 and a 52 week high of $77.20. The company has a quick ratio of 1.20, a current ratio of 2.25 and a debt-to-equity ratio of 0.80.

Microchip Technology (NASDAQ:MCHP) last announced its quarterly earnings data on Thursday, November 6th. The semiconductor company reported $0.35 EPS for the quarter, beating the consensus estimate of $0.33 by $0.02. Microchip Technology had a positive return on equity of 5.21% and a negative net margin of 4.39%.The business had revenue of $1.14 billion during the quarter, compared to analyst estimates of $1.13 billion. During the same quarter last year, the firm posted $0.46 earnings per share. The company’s revenue for the quarter was down 2.0% on a year-over-year basis. Microchip Technology has set its Q3 2026 guidance at 0.340-0.400 EPS. Equities research analysts predict that Microchip Technology Incorporated will post 1.03 earnings per share for the current fiscal year.

Microchip Technology Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, December 9th. Investors of record on Monday, November 24th were paid a dividend of $0.455 per share. The ex-dividend date of this dividend was Monday, November 24th. This represents a $1.82 annualized dividend and a yield of 2.7%. Microchip Technology’s payout ratio is presently -404.44%.

Analyst Ratings Changes

Several equities research analysts have weighed in on MCHP shares. Rosenblatt Securities reissued a “buy” rating and set a $80.00 price target on shares of Microchip Technology in a research report on Wednesday, December 3rd. Cantor Fitzgerald dropped their target price on shares of Microchip Technology from $70.00 to $65.00 and set a “neutral” rating for the company in a report on Friday, November 7th. Stifel Nicolaus reduced their price target on Microchip Technology from $82.00 to $75.00 and set a “buy” rating on the stock in a report on Friday, November 7th. TD Cowen lowered their price target on Microchip Technology from $65.00 to $60.00 and set a “hold” rating for the company in a research report on Friday, November 7th. Finally, Bank of America lifted their price objective on Microchip Technology from $67.00 to $72.00 and gave the stock a “neutral” rating in a research report on Friday, December 5th. One research 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 assigned a Sell rating to the stock. According to MarketBeat.com, Microchip Technology has an average rating of “Moderate Buy” and a consensus target price of $74.95.

Insiders Place Their Bets

In other Microchip Technology news, CFO James Eric Bjornholt sold 4,292 shares of the firm’s stock in a transaction that occurred on Tuesday, November 25th. The shares were sold at an average price of $50.39, for a total transaction of $216,273.88. Following the completion of the transaction, the chief financial officer owned 30,089 shares of the company’s stock, valued at approximately $1,516,184.71. This trade represents a 12.48% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company 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.