The Manufacturers Life Insurance Company Cuts Stake in Microchip Technology Incorporated $MCHP

Key Points

• The Manufacturers Life Insurance Company trimmed its position in Microchip Technology Incorporated ($MCHP) by 5.0% in the 1st quarter, reducing its holdings to approximately 315,864 shares valued at around $15.3 million.
• Several institutional investors, including Vanguard Group and Goldman Sachs, increased their stakes in Microchip Technology, contributing to a high institutional ownership rate of 91.51%.
• Microchip Technology's latest earnings report revealed an EPS of $0.27, which exceeded estimates, even though the revenue was down 13.3% year-over-year.

The Manufacturers Life Insurance Company lessened its stake in Microchip Technology Incorporated (NASDAQ:MCHP - Free Report) by 5.0% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 315,864 shares of the semiconductor company's stock after selling 16,565 shares during the period. The Manufacturers Life Insurance Company owned 0.06% of Microchip Technology worth $15,291,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Canada Pension Plan Investment Board raised its position in shares of Microchip Technology by 2,580.1% during the 1st quarter. Canada Pension Plan Investment Board now owns 1,064,964 shares of the semiconductor company's stock valued at $51,555,000 after acquiring an additional 1,025,228 shares during the last quarter. WPG Advisers LLC acquired a new position in shares of Microchip Technology in the 1st quarter valued at $40,000. Lansforsakringar Fondforvaltning AB publ acquired a new position in shares of Microchip Technology in the 1st quarter valued at $318,000. CreativeOne Wealth LLC grew its holdings in shares of Microchip Technology by 58.0% in the 1st quarter. CreativeOne Wealth LLC now owns 45,572 shares of the semiconductor company's stock valued at $2,206,000 after buying an additional 16,730 shares during the period. Finally, Redwood Investment Management LLC acquired a new position in shares of Microchip Technology in the 1st quarter valued at $1,381,000. Institutional investors own 91.51% of the company's stock.

Insider Activity

In other Microchip Technology news, CFO James Eric Bjornholt sold 7,356 shares of Microchip Technology stock in a transaction dated Monday, August 25th. The shares were sold at an average price of $68.72, for a total value of $505,504.32. Following the sale, the chief financial officer owned 30,010 shares of the company's stock, valued at approximately $2,062,287.20. The trade was a 19.69% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Matthew W. Chapman sold 10,000 shares of Microchip Technology stock in a transaction dated Monday, August 25th. The stock was sold at an average price of $68.25, for a total transaction of $682,500.00. Following the completion of the sale, the director directly owned 30,665 shares in the company, valued at approximately $2,092,886.25. This represents a 24.59% decrease in their position. The disclosure for this sale can be found here. 1.94% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several equities analysts have recently issued reports on the stock. Wall Street Zen raised shares of Microchip Technology from a "sell" rating to a "hold" rating in a report on Friday, June 27th. Truist Financial upped their target price on shares of Microchip Technology from $52.00 to $64.00 and gave the stock a "hold" rating in a research note on Wednesday, June 18th. TD Cowen reduced their target price on shares of Microchip Technology from $75.00 to $60.00 and set a "hold" rating for the company in a research note on Friday, August 8th. Rosenblatt Securities upped their target price on shares of Microchip Technology from $63.00 to $70.00 and gave the stock a "buy" rating in a research note on Friday, May 30th. Finally, Cantor Fitzgerald started coverage on shares of Microchip Technology in a research note on Wednesday, June 18th. They issued a "neutral" rating and a $70.00 target price for the company. One 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 company's stock. Based on data from MarketBeat, Microchip Technology presently has a consensus rating of "Moderate Buy" and an average price target of $76.58.

Microchip Technology Price Performance

Microchip Technology stock traded down $0.57 during mid-day trading on Tuesday, reaching $64.73. The company had a trading volume of 913,302 shares, compared to its average volume of 10,256,186. Microchip Technology Incorporated has a fifty-two week low of $34.13 and a fifty-two week high of $81.64. The business has a fifty day simple moving average of $68.72 and a 200 day simple moving average of $59.53. The company has a market cap of $34.93 billion, a P/E ratio of -190.55, a P/E/G ratio of 1.89 and a beta of 1.56. The company has a current ratio of 2.31, a quick ratio of 1.33 and a debt-to-equity ratio of 0.80.

Microchip Technology (NASDAQ:MCHP - Get Free Report) last posted its quarterly earnings results on Thursday, August 7th. The semiconductor company reported $0.27 earnings per share for the quarter, beating the consensus estimate of $0.24 by $0.03. Microchip Technology had a negative net margin of 3.50% and a positive return on equity of 6.24%. The firm had revenue of $1.08 billion during the quarter, compared to the consensus estimate of $1.05 billion. During the same period in the previous year, the firm posted $0.53 earnings per share. The business's revenue 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. On average, equities research analysts predict that Microchip Technology Incorporated will post 1.03 earnings per share for the current year.

Microchip Technology Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, September 5th. Investors of record on Friday, August 22nd were issued a dividend of $0.455 per share. The ex-dividend date was Friday, August 22nd. This represents a $1.82 annualized dividend and a yield of 2.8%. Microchip Technology's payout ratio is -535.29%.

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.