ING Groep NV Buys 295,156 Shares of Microchip Technology Incorporated $MCHP

ING Groep NV grew its stake in Microchip Technology Incorporated (NASDAQ:MCHP) by 78.2% in the fourth quarter, HoldingsChannel.com reports. The fund owned 672,706 shares of the semiconductor company’s stock after acquiring an additional 295,156 shares during the period. ING Groep NV’s holdings in Microchip Technology were worth $42,865,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of MCHP. Telemark Asset Management LLC grew its position in shares of Microchip Technology by 16.7% in the 4th quarter. Telemark Asset Management LLC now owns 350,000 shares of the semiconductor company’s stock valued at $22,302,000 after purchasing an additional 50,000 shares during the period. 111 Capital grew its position in shares of Microchip Technology by 50.8% in the 4th quarter. 111 Capital now owns 8,358 shares of the semiconductor company’s stock valued at $533,000 after purchasing an additional 2,814 shares during the period. MCF Advisors LLC grew its position in shares of Microchip Technology by 25.8% in the 4th quarter. MCF Advisors LLC now owns 659 shares of the semiconductor company’s stock valued at $42,000 after purchasing an additional 135 shares during the period. Pinebridge Investments LLC acquired a new position in shares of Microchip Technology in the 4th quarter valued at approximately $861,000. Finally, Fjarde AP Fonden Fourth Swedish National Pension Fund grew its position in shares of Microchip Technology by 0.8% in the 4th quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 77,353 shares of the semiconductor company’s stock valued at $4,929,000 after purchasing an additional 600 shares during the period. 91.51% of the stock is owned by institutional investors.

Insider Transactions at Microchip Technology

In related news, CEO Steve Sanghi sold 76,469 shares of Microchip Technology stock in a transaction that occurred on Friday, May 1st. The stock was sold at an average price of $93.58, for a total transaction of $7,155,969.02. Following the completion of the sale, the chief executive officer directly owned 9,385,834 shares of the company’s stock, valued at approximately $878,326,345.72. This trade represents a 0.81% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, COO Richard J. Simoncic sold 5,000 shares of Microchip Technology stock in a transaction that occurred on Friday, May 22nd. The stock was sold at an average price of $93.44, for a total value of $467,200.00. Following the sale, the chief operating officer directly owned 135,508 shares of the company’s stock, valued at approximately $12,661,867.52. The trade was a 3.56% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders sold 548,302 shares of company stock valued at $49,186,035. 1.94% of the stock is currently owned by company insiders.

Microchip Technology Stock Performance

NASDAQ:MCHP opened at $88.34 on Friday. The stock has a market cap of $47.89 billion, a P/E ratio of 420.69, a PEG ratio of 0.93 and a beta of 1.73. The stock has a 50 day simple moving average of $85.00 and a 200 day simple moving average of $74.17. The company has a current ratio of 2.09, a quick ratio of 1.18 and a debt-to-equity ratio of 0.85. Microchip Technology Incorporated has a 1-year low of $48.52 and a 1-year high of $105.91.

Microchip Technology (NASDAQ:MCHP) last released its quarterly earnings results on Thursday, May 7th. The semiconductor company reported $0.57 earnings per share for the quarter, topping the consensus estimate of $0.50 by $0.07. The business had revenue of $1.31 billion during the quarter, compared to analysts’ expectations of $1.26 billion. Microchip Technology had a return on equity of 10.87% and a net margin of 4.88%.The firm’s revenue for the quarter was up 35.1% compared to the same quarter last year. During the same period last year, the firm posted $0.11 EPS. Microchip Technology has set its Q1 2027 guidance at 0.670-0.710 EPS. Research analysts anticipate that Microchip Technology Incorporated will post 2.58 earnings per share for the current year.

Microchip Technology Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, June 5th. Investors of record on Friday, May 22nd were issued a dividend of $0.455 per share. This represents a $1.82 annualized dividend and a yield of 2.1%. The ex-dividend date of this dividend was Friday, May 22nd. Microchip Technology’s dividend payout ratio (DPR) is presently 866.67%.

Analyst Ratings Changes

Several research firms have weighed in on MCHP. Citigroup boosted their price target on Microchip Technology from $91.00 to $113.00 and gave the stock a “buy” rating in a research report on Friday, May 8th. Weiss Ratings raised Microchip Technology from a “hold (c-)” rating to a “hold (c)” rating in a research report on Thursday. Barclays boosted their price target on Microchip Technology from $80.00 to $105.00 and gave the stock an “equal weight” rating in a research report on Monday, May 11th. Susquehanna boosted their price target on Microchip Technology from $95.00 to $120.00 and gave the stock a “positive” rating in a research report on Friday, May 8th. Finally, Truist Financial boosted their price target on Microchip Technology from $69.00 to $105.00 and gave the stock a “hold” rating in a research report on Friday, May 8th. Four equities research analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and seven have given a Hold rating to the stock. Based on data from MarketBeat.com, Microchip Technology has a consensus rating of “Moderate Buy” and a consensus price target of $97.52.

Microchip Technology Profile

Microchip Technology Inc is a semiconductor company headquartered in Chandler, Arizona, that designs, develops and supplies a broad portfolio of embedded control and analog semiconductors. Its product lineup centers on microcontrollers (including the well-known PIC family), digital signal controllers and associated development tools and software, along with a range of mixed-signal and analog devices, nonvolatile memory, power management, timing, interface, wireless and security products. The company also provides integrated hardware and software solutions intended to simplify embedded design and accelerate time to market for OEMs and contract manufacturers.

Microchip’s products are used across a wide range of end markets, including automotive, industrial automation, consumer electronics, communications, aerospace and defense, and Internet of Things (IoT) applications.