Avantax Advisory Services Inc. Buys 92,412 Shares of Microchip Technology Incorporated $MCHP

Avantax Advisory Services Inc. increased its position in shares of Microchip Technology Incorporated (NASDAQ:MCHP) by 122.3% in the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 167,989 shares of the semiconductor company’s stock after buying an additional 92,412 shares during the quarter. Avantax Advisory Services Inc.’s holdings in Microchip Technology were worth $11,821,000 as of its most recent SEC filing.

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

Insider Activity

In related news, CFO James Eric Bjornholt sold 7,356 shares of the company’s stock in a transaction on Monday, August 25th. The shares were 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 of the company’s stock, valued at approximately $2,062,287.20. This represents a 19.69% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Matthew W. Chapman sold 10,000 shares of the business’s stock in a transaction dated Monday, August 25th. The shares were sold at an average price of $68.25, for a total value of $682,500.00. Following the completion of 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 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.

Microchip Technology Stock Down 2.4%

NASDAQ:MCHP opened at $53.48 on Monday. Microchip Technology Incorporated has a fifty-two week low of $34.13 and a fifty-two week high of $77.20. The firm has a 50-day simple moving average of $63.28 and a two-hundred day simple moving average of $64.70. The firm has a market cap of $28.90 billion, a P/E ratio of -157.29, a P/E/G ratio of 1.79 and a beta of 1.57. The company has a debt-to-equity ratio of 0.80, a quick ratio of 1.33 and a current ratio of 2.31.

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

Microchip Technology Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 9th. Stockholders of record on Monday, November 24th will be paid a dividend of $0.455 per share. This represents a $1.82 annualized dividend and a dividend yield of 3.4%. The ex-dividend date is Monday, November 24th. Microchip Technology’s dividend payout ratio (DPR) is currently -404.44%.

Analyst Ratings Changes

Several brokerages have recently issued reports on MCHP. Needham & Company LLC decreased their price target on Microchip Technology from $77.00 to $73.00 and set a “buy” rating on the stock in a research note on Friday, November 7th. Cantor Fitzgerald decreased their price objective on Microchip Technology from $70.00 to $65.00 and set a “neutral” rating for the company in a report on Friday, November 7th. Wells Fargo & Company lowered their price target on shares of Microchip Technology from $60.00 to $58.00 and set an “equal weight” rating for the company in a report on Friday, November 7th. 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. Finally, Zacks Research cut Microchip Technology from a “strong-buy” rating to a “hold” rating in a report on Monday, August 18th. One research analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, seven have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $73.47.

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.