Microchip Technology Incorporated $MCHP Shares Sold by Credit Agricole S A

Key Points

• Credit Agricole S A significantly decreased its stake in Microchip Technology by 81.1%, holding $1.46 million worth of shares after selling 129,757 shares in the first quarter.
• Microchip Technology reported $1.08 billion in revenue for the last quarter, surpassing expectations, despite a year-over-year revenue decline of 13.3% and a negative net margin of 3.50%.
• The company is set to pay a quarterly dividend of $0.455 on September 5th, resulting in an annualized yield of 2.6%, with a highly negative payout ratio of -535.29%.

Credit Agricole S A lowered its stake in Microchip Technology Incorporated (NASDAQ:MCHP - Free Report) by 81.1% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 30,251 shares of the semiconductor company's stock after selling 129,757 shares during the quarter. Credit Agricole S A's holdings in Microchip Technology were worth $1,464,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in the business. Vanguard Group Inc. lifted its position in shares of Microchip Technology by 0.6% during the first quarter. Vanguard Group Inc. now owns 69,302,614 shares of the semiconductor company's stock worth $3,354,940,000 after purchasing an additional 390,269 shares in the last quarter. Invesco Ltd. increased its holdings in shares of Microchip Technology by 63.0% in 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. Boston Partners increased its holdings in shares of Microchip Technology by 35.3% in 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. Goldman Sachs Group Inc. increased its holdings in shares of Microchip Technology by 138.9% in 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. Finally, Northern Trust Corp grew its position in Microchip Technology by 4.7% in the 4th quarter. Northern Trust Corp now owns 6,958,502 shares of the semiconductor company's stock valued at $399,070,000 after buying an additional 311,796 shares during the last quarter. Institutional investors and hedge funds own 91.51% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on the stock. Wall Street Zen upgraded shares of Microchip Technology from a "sell" rating to a "hold" rating in a research report on Friday, June 27th. TD Cowen decreased their price objective on shares of Microchip Technology from $75.00 to $60.00 and set a "hold" rating on the stock in a research report on Friday, August 8th. Susquehanna boosted their price objective on shares of Microchip Technology from $60.00 to $90.00 and gave the stock a "positive" rating in a research report on Tuesday, July 22nd. The Goldman Sachs Group began coverage on shares of Microchip Technology in a report on Thursday, July 10th. They issued a "buy" rating and a $88.00 target price on the stock. Finally, Bank of America raised shares of Microchip Technology from an "underperform" rating to a "neutral" rating and set a $56.00 price objective for the company in a research note on Friday, May 9th. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and six have assigned a Hold rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $76.58.

Microchip Technology Stock Down 2.1%

Shares of Microchip Technology stock traded down $1.40 on Thursday, hitting $65.25. 13,996,951 shares of the company's stock traded hands, compared to its average volume of 10,391,210. The stock has a market cap of $35.21 billion, a P/E ratio of -191.91, a PEG ratio of 1.96 and a beta of 1.55. 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 firm's 50-day moving average is $69.55 and its 200 day moving average is $59.07. Microchip Technology Incorporated has a 52-week low of $34.13 and a 52-week high of $82.65.

Microchip Technology (NASDAQ:MCHP - Get Free Report) last released its earnings results on Thursday, August 7th. The semiconductor company reported $0.27 EPS for the quarter, beating the consensus estimate 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 company had revenue of $1.08 billion during the quarter, compared to analysts' expectations of $1.05 billion. During the same period in the prior year, the business posted $0.53 EPS. The business's revenue was down 13.3% on a year-over-year basis. Microchip Technology has set its Q2 2026 guidance at 0.340-0.370 EPS. Equities 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 disclosed a quarterly dividend, which will be paid on Friday, September 5th. Investors of record on Friday, August 22nd will be paid a dividend of $0.455 per share. The ex-dividend date is Friday, August 22nd. This represents a $1.82 annualized dividend and a yield of 2.8%. Microchip Technology's dividend payout ratio (DPR) is -535.29%.

Insider Buying and Selling at Microchip Technology

In other Microchip Technology news, CFO James Eric Bjornholt sold 7,356 shares of the stock in a transaction on Monday, August 25th. The stock was sold at an average price of $68.72, for a total value 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 trade represents a 19.69% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Matthew W. Chapman sold 10,000 shares of the stock in a transaction on 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 sale, the director directly owned 30,665 shares in the company, valued at $2,092,886.25. This represents a 24.59% decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.94% of the stock is owned by company insiders.

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.