Korea Investment CORP Sells 122,054 Shares of Microchip Technology Incorporated $MCHP

Key Points

• Korea Investment CORP has reduced its stake in Microchip Technology by 42.9%, selling 122,054 shares and retaining a position worth $7.85 million as of its latest SEC filing.
• Microchip Technology reported $1.08 billion in revenue for the last quarter, surpassing analyst expectations, despite a year-over-year revenue decline of 13.3%.
• The company recently declared a quarterly dividend of $0.455 per share, offering an annual dividend yield of 2.6%, with a payout ratio currently at -535.29%.

Korea Investment CORP lowered its holdings in Microchip Technology Incorporated (NASDAQ:MCHP - Free Report) by 42.9% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 162,169 shares of the semiconductor company's stock after selling 122,054 shares during the period. Korea Investment CORP's holdings in Microchip Technology were worth $7,851,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Watts Gwilliam & Co. LLC raised its stake in Microchip Technology by 128.6% in the first quarter. Watts Gwilliam & Co. LLC now owns 61,396 shares of the semiconductor company's stock valued at $2,972,000 after purchasing an additional 34,535 shares in the last quarter. Brooklyn Investment Group increased its holdings in shares of Microchip Technology by 89.1% in the 1st quarter. Brooklyn Investment Group now owns 4,464 shares of the semiconductor company's stock worth $216,000 after buying an additional 2,103 shares during the last quarter. Summit Securities Group LLC raised its position in shares of Microchip Technology by 2,755.3% during the 1st quarter. Summit Securities Group LLC now owns 2,427 shares of the semiconductor company's stock valued at $117,000 after buying an additional 2,342 shares in the last quarter. Aberdeen Group plc lifted its holdings in shares of Microchip Technology by 115.1% during the 1st quarter. Aberdeen Group plc now owns 397,205 shares of the semiconductor company's stock worth $18,959,000 after acquiring an additional 212,505 shares during the last quarter. Finally, Horizon Investments LLC lifted its holdings in shares of Microchip Technology by 3.1% during the 1st quarter. Horizon Investments LLC now owns 15,531 shares of the semiconductor company's stock worth $752,000 after acquiring an additional 467 shares during the last quarter. Hedge funds and other institutional investors own 91.51% of the company's stock.

Insider Buying and Selling

In related news, Director Matthew W. Chapman sold 10,000 shares of Microchip Technology stock in a transaction on Monday, August 25th. The shares were sold at an average price of $68.25, for a total value of $682,500.00. Following the sale, 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. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO James Eric Bjornholt sold 7,356 shares of the business's stock in a transaction on Monday, August 25th. The shares were sold at an average price of $68.72, for a total transaction of $505,504.32. Following the transaction, the chief financial officer directly owned 30,010 shares in the company, valued at approximately $2,062,287.20. The trade was a 19.69% decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.94% of the stock is currently owned by company insiders.

Microchip Technology Trading Down 1.3%

NASDAQ:MCHP traded down $0.90 during midday trading on Thursday, reaching $65.75. 3,139,461 shares of the stock traded hands, compared to its average volume of 10,322,485. The stock has a market capitalization of $35.49 billion, a P/E ratio of -193.39, a PEG ratio of 1.96 and a beta of 1.55. The company has a debt-to-equity ratio of 0.80, a quick ratio of 1.33 and a current ratio of 2.31. The company has a fifty day moving average of $69.55 and a 200 day moving average of $59.07. Microchip Technology Incorporated has a 12 month low of $34.13 and a 12 month high of $82.65.

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

Microchip Technology Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 5th. Shareholders of record on Friday, August 22nd will be given a dividend of $0.455 per share. The ex-dividend date of this dividend is Friday, August 22nd. This represents a $1.82 dividend on an annualized basis and a yield of 2.8%. Microchip Technology's dividend payout ratio is presently -535.29%.

Analyst Ratings Changes

A number of research analysts recently commented on the company. TD Cowen reduced their target price on Microchip Technology from $75.00 to $60.00 and set a "hold" rating on the stock in a research note on Friday, August 8th. Cantor Fitzgerald assumed coverage on Microchip Technology in a research report on Wednesday, June 18th. They set a "neutral" rating and a $70.00 price objective on the stock. Raymond James Financial boosted their target price on Microchip Technology from $65.00 to $75.00 and gave the stock a "strong-buy" rating in a research report on Friday, August 8th. Piper Sandler upped their target price on Microchip Technology from $65.00 to $80.00 and gave the stock an "overweight" rating in a research note on Friday, August 8th. Finally, Susquehanna lifted their price target on shares of Microchip Technology from $60.00 to $90.00 and gave the stock a "positive" rating in a research note on Tuesday, July 22nd. 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. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $76.58.

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.