Corebridge Financial Inc. Has $7.62 Million Stock Holdings in Microchip Technology Incorporated $MCHP

Key Points

• Corebridge Financial Inc. reduced its stake in Microchip Technology by 2.9%, now holding 157,400 shares worth approximately $7.62 million as of the latest SEC filing.
• Microchip Technology's stock saw a decrease of 2.1% and the company recently reported $1.08 billion in revenue for the last quarter, against analysts' expectations of $1.05 billion.
• The firm announced a quarterly dividend of $0.455 per share, aligning with a yield of 2.8%, to be paid on September 5th.

Corebridge Financial Inc. cut its position in Microchip Technology Incorporated (NASDAQ:MCHP - Free Report) by 2.9% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 157,400 shares of the semiconductor company's stock after selling 4,630 shares during the quarter. Corebridge Financial Inc.'s holdings in Microchip Technology were worth $7,620,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the company. Vanguard Group Inc. boosted its stake in Microchip Technology by 0.6% in the 1st quarter. Vanguard Group Inc. now owns 69,302,614 shares of the semiconductor company's stock valued at $3,354,940,000 after purchasing an additional 390,269 shares during the period. Invesco Ltd. lifted its position in shares of Microchip Technology by 63.0% during the 1st quarter. Invesco Ltd. now owns 16,707,031 shares of the semiconductor company's stock valued at $808,787,000 after acquiring an additional 6,459,123 shares during the period. T. Rowe Price Investment Management Inc. lifted its position in shares of Microchip Technology by 0.9% during the 1st quarter. T. Rowe Price Investment Management Inc. now owns 16,630,574 shares of the semiconductor company's stock valued at $805,087,000 after acquiring an additional 152,434 shares during the period. Boston Partners lifted its position in shares of Microchip Technology by 35.3% during the 1st quarter. Boston Partners now owns 10,726,413 shares of the semiconductor company's stock valued at $517,082,000 after acquiring an additional 2,795,650 shares during the period. Finally, Goldman Sachs Group Inc. lifted its position in shares of Microchip Technology by 138.9% during the 1st quarter. Goldman Sachs Group Inc. now owns 8,834,550 shares of the semiconductor company's stock valued at $427,681,000 after acquiring an additional 5,136,154 shares during the period. 91.51% of the stock is currently owned by institutional investors.

Insider Transactions at Microchip Technology

In other Microchip Technology news, CFO James Eric Bjornholt sold 7,356 shares of the company's stock in a transaction dated 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 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 document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Matthew W. Chapman sold 10,000 shares of the company's stock in a transaction dated 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 of the company's stock, valued at approximately $2,092,886.25. The trade was a 24.59% decrease in their position. The disclosure for this sale can be found here. 1.94% of the stock is owned by corporate insiders.

Microchip Technology Price Performance

Shares of Microchip Technology stock traded down $1.45 during trading on Tuesday, reaching $63.55. 3,524,714 shares of the company's stock were exchanged, compared to its average volume of 10,342,127. 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 Incorporated has a 1-year low of $34.13 and a 1-year high of $81.64. The company has a market cap of $34.30 billion, a P/E ratio of -186.64, a PEG ratio of 1.88 and a beta of 1.56. The firm's 50-day moving average price is $69.34 and its 200 day moving average price is $59.39.

Microchip Technology (NASDAQ:MCHP - Get Free Report) last issued its earnings results on Thursday, August 7th. The semiconductor company reported $0.27 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.24 by $0.03. Microchip Technology had a positive return on equity of 6.24% and a negative net margin of 3.50%.The business had revenue of $1.08 billion during the quarter, compared to analysts' expectations of $1.05 billion. During the same quarter in the prior year, the firm earned $0.53 EPS. The business's revenue for the quarter was down 13.3% compared to the same quarter last year. Microchip Technology has set its Q2 2026 guidance at 0.340-0.370 EPS. As a group, research analysts anticipate that Microchip Technology Incorporated will post 1.03 earnings per share for the current year.

Microchip Technology Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, September 5th. Shareholders of record on Friday, August 22nd will be issued a $0.455 dividend. This represents a $1.82 dividend on an annualized basis and a yield of 2.9%. The ex-dividend date of this dividend is Friday, August 22nd. Microchip Technology's dividend payout ratio is presently -535.29%.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on MCHP shares. B. Riley upped their target price on Microchip Technology from $60.00 to $75.00 and gave the company a "buy" rating in a research report on Friday, May 9th. Bank of America upgraded Microchip Technology from an "underperform" rating to a "neutral" rating and set a $56.00 target price for the company in a research report on Friday, May 9th. Wall Street Zen upgraded Microchip Technology from a "sell" rating to a "hold" rating in a research report on Friday, June 27th. The Goldman Sachs Group started coverage on Microchip Technology in a research report on Thursday, July 10th. They set a "buy" rating and a $88.00 target price for the company. Finally, Stifel Nicolaus upped their target price on Microchip Technology from $70.00 to $82.00 and gave the company a "buy" rating in a research report on Friday, July 18th. One research analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and six have given a Hold rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $76.58.

Microchip Technology Company 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.