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

Key Points

• Voya Investment Management LLC significantly reduced its stake in Microchip Technology by selling 805,381 shares, resulting in an 84.0% decline in holdings during the first quarter.
• Despite Voya's reduction, other institutional investors such as Vanguard Group Inc. and Invesco Ltd. have increased their stakes in Microchip Technology, highlighting continued interest in the semiconductor company.
• Microchip Technology's recent quarterly earnings beat analyst expectations, reporting an EPS of $0.27 and revenue of $1.08 billion, although revenue declined 13.3% compared to the same quarter last year.

Voya Investment Management LLC lessened its stake in shares of Microchip Technology Incorporated (NASDAQ:MCHP - Free Report) by 84.0% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 153,314 shares of the semiconductor company's stock after selling 805,381 shares during the quarter. Voya Investment Management LLC's holdings in Microchip Technology were worth $7,422,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in MCHP. Orbis Allan Gray Ltd acquired a new position in Microchip Technology in the 1st quarter valued at about $369,612,000. Invesco Ltd. boosted its stake in shares of Microchip Technology by 63.0% in the first quarter. Invesco Ltd. now owns 16,707,031 shares of the semiconductor company's stock valued at $808,787,000 after purchasing an additional 6,459,123 shares during the period. Goldman Sachs Group Inc. grew its holdings in shares of Microchip Technology by 138.9% in the first quarter. Goldman Sachs Group Inc. now owns 8,834,550 shares of the semiconductor company's stock valued at $427,681,000 after purchasing an additional 5,136,154 shares in the last quarter. Barrow Hanley Mewhinney & Strauss LLC increased its stake in Microchip Technology by 273.2% during the 4th quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 5,345,096 shares of the semiconductor company's stock worth $306,541,000 after buying an additional 3,912,895 shares during the period. Finally, Boston Partners boosted its position in 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 buying an additional 2,795,650 shares during the period. 91.51% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

MCHP has been the topic of several recent research reports. UBS Group upped their price target on Microchip Technology from $65.00 to $85.00 and gave the stock a "buy" rating in a report on Monday, July 7th. Raymond James Financial raised their target price on shares of Microchip Technology from $65.00 to $75.00 and gave the company a "strong-buy" rating in a report on Friday, August 8th. KeyCorp boosted their price target on shares of Microchip Technology from $70.00 to $85.00 and gave the stock an "overweight" rating in a report on Tuesday, July 8th. Zacks Research lowered shares of Microchip Technology from a "strong-buy" rating to a "hold" rating in a report on Monday, August 18th. Finally, Truist Financial lifted their price objective on shares of Microchip Technology from $52.00 to $64.00 and gave the stock a "hold" rating in a research report on Wednesday, June 18th. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and seven have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, Microchip Technology has an average rating of "Moderate Buy" and a consensus price target of $75.75.

Insider Transactions at Microchip Technology

In other news, Director Matthew W. Chapman sold 10,000 shares of the stock in a transaction dated Monday, August 25th. The shares were sold at an average price of $68.25, for a total transaction of $682,500.00. Following the transaction, the director directly owned 30,665 shares in the company, valued at $2,092,886.25. This represents a 24.59% decrease in their position. The sale 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 that occurred 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 completion of 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 disclosure for this sale can be found here. Corporate insiders own 1.94% of the company's stock.

Microchip Technology Trading Down 1.7%

Shares of NASDAQ MCHP traded down $1.11 during midday trading on Friday, reaching $65.15. 13,346,423 shares of the stock were exchanged, compared to its average volume of 7,494,503. The company has a market capitalization of $35.16 billion, a P/E ratio of -191.62, a P/E/G ratio of 1.87 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 Incorporated has a 52-week low of $34.13 and a 52-week high of $81.64. The stock has a 50 day moving average price of $67.21 and a 200-day moving average price of $59.89.

Microchip Technology (NASDAQ:MCHP - Get Free Report) last issued its quarterly earnings results on Thursday, August 7th. The semiconductor company reported $0.27 earnings per share 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 company had revenue of $1.08 billion for the quarter, compared to analyst estimates of $1.05 billion. During the same quarter in the prior year, the company posted $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. Equities research analysts expect that Microchip Technology Incorporated will post 1.03 earnings per share for the current fiscal year.

Microchip Technology Announces Dividend

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

Microchip Technology 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.