Microchip Technology Incorporated $MCHP Shares Sold by Quantitative Investment Management LLC

Key Points

• Quantitative Investment Management LLC decreased its holdings in Microchip Technology by 60.2%, owning 53,205 shares valued at approximately $2.58 million after selling 80,598 shares in the first quarter.
• The company reported $1.08 billion in revenue for the recent quarter, exceeding analysts' expectations, but experienced a 13.3% year-over-year decline.
• Microchip Technology announced a quarterly dividend of $0.455 per share, with a projected annual yield of 2.6%, set to be paid on September 5th.

Quantitative Investment Management LLC trimmed its holdings in shares of Microchip Technology Incorporated (NASDAQ:MCHP - Free Report) by 60.2% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 53,205 shares of the semiconductor company's stock after selling 80,598 shares during the period. Quantitative Investment Management LLC's holdings in Microchip Technology were worth $2,575,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also modified their holdings of MCHP. Garde Capital Inc. purchased a new position in Microchip Technology during the first quarter valued at approximately $30,000. Orion Capital Management LLC purchased a new position in shares of Microchip Technology in the 4th quarter valued at $41,000. Byrne Asset Management LLC purchased a new position in shares of Microchip Technology in the 1st quarter valued at $41,000. GW&K Investment Management LLC raised its position in shares of Microchip Technology by 161.0% in the 1st quarter. GW&K Investment Management LLC now owns 937 shares of the semiconductor company's stock worth $45,000 after acquiring an additional 578 shares in the last quarter. Finally, American National Bank & Trust purchased a new stake in shares of Microchip Technology during the 1st quarter worth $48,000. Institutional investors own 91.51% of the company's stock.

Analyst Ratings Changes

Several analysts have commented on the stock. Zacks Research lowered shares of Microchip Technology from a "strong-buy" rating to a "hold" rating in a research report on Monday, August 18th. Bank of America upgraded shares of Microchip Technology from an "underperform" rating to a "neutral" rating and set a $56.00 price objective on the stock in a report on Friday, May 9th. UBS Group raised their target price on Microchip Technology from $65.00 to $85.00 and gave the stock a "buy" rating in a research note on Monday, July 7th. Susquehanna boosted their price target on Microchip Technology from $60.00 to $90.00 and gave the company a "positive" rating in a research note on Tuesday, July 22nd. Finally, Evercore ISI raised their price objective on Microchip Technology from $69.00 to $83.00 and gave the stock an "outperform" rating in a research note on Thursday, June 12th. One equities 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. According to MarketBeat, Microchip Technology presently has a consensus rating of "Moderate Buy" and a consensus target price of $76.58.

Microchip Technology Stock Performance

Shares of MCHP traded down $1.40 during trading hours on Thursday, hitting $65.25. The stock had a trading volume of 13,994,531 shares, compared to its average volume of 10,391,095. The firm has a 50-day moving average price of $69.55 and a 200 day moving average price of $59.07. Microchip Technology Incorporated has a fifty-two week low of $34.13 and a fifty-two week high of $82.65. The firm has a market capitalization of $35.21 billion, a price-to-earnings ratio of -191.91, 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.

Microchip Technology (NASDAQ:MCHP - Get Free Report) last released its quarterly 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. The company had revenue of $1.08 billion for the quarter, compared to analyst estimates of $1.05 billion. Microchip Technology had a negative net margin of 3.50% and a positive return on equity of 6.24%. The firm's revenue was down 13.3% on a year-over-year basis. During the same quarter last year, the business earned $0.53 earnings per share. 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 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. Investors of record on Friday, August 22nd will be issued a $0.455 dividend. 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%.

Insider Buying and Selling

In other Microchip Technology news, Director Matthew W. Chapman sold 10,000 shares of the company's stock in a transaction on Monday, August 25th. The shares were sold at an average price of $68.25, for a total transaction of $682,500.00. Following the completion of the transaction, 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 ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CFO James Eric Bjornholt sold 7,356 shares of the 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 owned by insiders.

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.