Fifth Third Bancorp Sells 9,191 Shares of Microchip Technology Incorporated $MCHP

Fifth Third Bancorp cut its stake in Microchip Technology Incorporated (NASDAQ:MCHP) by 2.1% in the third quarter, Holdings Channel.com reports. The firm owned 424,302 shares of the semiconductor company’s stock after selling 9,191 shares during the quarter. Fifth Third Bancorp’s holdings in Microchip Technology were worth $27,249,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Winnow Wealth LLC acquired a new position in shares of Microchip Technology during the third quarter worth about $25,000. Root Financial Partners LLC bought a new stake in Microchip Technology in the 3rd quarter valued at approximately $28,000. Salomon & Ludwin LLC boosted its position in Microchip Technology by 219.3% during the 3rd quarter. Salomon & Ludwin LLC now owns 479 shares of the semiconductor company’s stock worth $32,000 after acquiring an additional 329 shares during the last quarter. Quent Capital LLC bought a new position in shares of Microchip Technology during the 3rd quarter worth approximately $32,000. Finally, E Fund Management Hong Kong Co. Ltd. raised its holdings in shares of Microchip Technology by 106.8% in the third quarter. E Fund Management Hong Kong Co. Ltd. now owns 517 shares of the semiconductor company’s stock valued at $33,000 after purchasing an additional 267 shares during the last quarter. Institutional investors and hedge funds own 91.51% of the company’s stock.

Analyst Ratings Changes

Several research analysts recently commented on MCHP shares. Wall Street Zen upgraded shares of Microchip Technology from a “hold” rating to a “buy” rating in a report on Saturday, February 7th. Weiss Ratings upgraded shares of Microchip Technology from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Friday, February 6th. Wolfe Research set a $85.00 target price on Microchip Technology in a research report on Tuesday, January 6th. UBS Group upped their target price on Microchip Technology from $85.00 to $95.00 and gave the stock a “buy” rating in a report on Monday, January 26th. Finally, Citigroup decreased their price target on Microchip Technology from $92.00 to $91.00 and set a “buy” rating for the company in a research note on Friday, February 6th. Four equities research analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and seven have assigned a Hold rating to the company. Based on data from MarketBeat, Microchip Technology currently has a consensus rating of “Moderate Buy” and a consensus price target of $86.00.

Insider Activity

In other news, CEO Steve Sanghi sold 98,814 shares of the stock in a transaction that occurred on Wednesday, January 28th. The stock was sold at an average price of $80.55, for a total transaction of $7,959,467.70. Following the transaction, the chief executive officer owned 9,922,319 shares in the company, valued at approximately $799,242,795.45. This trade represents a 0.99% 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. Also, CFO James Eric Bjornholt sold 4,292 shares of Microchip Technology stock in a transaction that occurred on Tuesday, November 25th. The stock was sold at an average price of $50.39, for a total value of $216,273.88. Following the sale, the chief financial officer directly owned 30,089 shares of the company’s stock, valued at approximately $1,516,184.71. The trade was a 12.48% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders sold 121,615 shares of company stock worth $9,641,654. Insiders own 1.94% of the company’s stock.

Microchip Technology Stock Performance

Shares of NASDAQ MCHP opened at $78.56 on Tuesday. The company has a current ratio of 2.16, a quick ratio of 1.16 and a debt-to-equity ratio of 0.82. The company has a market capitalization of $42.51 billion, a P/E ratio of -270.90, a P/E/G ratio of 1.98 and a beta of 1.46. Microchip Technology Incorporated has a 12 month low of $34.13 and a 12 month high of $83.35. The stock has a 50 day moving average of $71.94 and a 200-day moving average of $65.85.

Microchip Technology (NASDAQ:MCHP) last announced its quarterly earnings results on Thursday, February 5th. The semiconductor company reported $0.44 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.43 by $0.01. Microchip Technology had a positive return on equity of 7.16% and a negative net margin of 1.57%.The business had revenue of $1.19 billion during the quarter, compared to the consensus estimate of $1.19 billion. During the same quarter last year, the firm posted $0.20 EPS. The company’s quarterly revenue was up 15.6% on a year-over-year basis. Microchip Technology has set its Q4 2026 guidance at 0.480-0.520 EPS. As a group, equities research analysts predict that Microchip Technology Incorporated will post 1.03 EPS for the current year.

Microchip Technology Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, March 10th. Investors of record on Monday, February 23rd will be paid a $0.455 dividend. The ex-dividend date is Monday, February 23rd. This represents a $1.82 dividend on an annualized basis and a yield of 2.3%. Microchip Technology’s dividend payout ratio is -627.59%.

Microchip Technology Profile

Microchip Technology Inc is a semiconductor company headquartered in Chandler, Arizona, that designs, develops and supplies a broad portfolio of embedded control and analog semiconductors. Its product lineup centers on microcontrollers (including the well-known PIC family), digital signal controllers and associated development tools and software, along with a range of mixed-signal and analog devices, nonvolatile memory, power management, timing, interface, wireless and security products. The company also provides integrated hardware and software solutions intended to simplify embedded design and accelerate time to market for OEMs and contract manufacturers.

Microchip’s products are used across a wide range of end markets, including automotive, industrial automation, consumer electronics, communications, aerospace and defense, and Internet of Things (IoT) applications.