KBC Group NV Has $14.74 Million Stock Position in Microchip Technology Incorporated $MCHP

KBC Group NV decreased its position in shares of Microchip Technology Incorporated (NASDAQ:MCHP) by 25.6% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 161,664 shares of the semiconductor company’s stock after selling 55,748 shares during the quarter. KBC Group NV’s holdings in Microchip Technology were worth $14,744,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors also recently modified their holdings of the company. Wolverine Asset Management LLC lifted its holdings in shares of Microchip Technology by 3,833.7% in the fourth quarter. Wolverine Asset Management LLC now owns 37,921 shares of the semiconductor company’s stock valued at $2,416,000 after purchasing an additional 36,957 shares in the last quarter. Vienna Powszechne Towarzystwo Emerytalne S.A. Vienna Insurance Group bought a new position in Microchip Technology during the 4th quarter valued at $6,691,000. Epoch Investment Partners Inc. boosted its holdings in Microchip Technology by 16.5% during the 4th quarter. Epoch Investment Partners Inc. now owns 1,349,136 shares of the semiconductor company’s stock worth $85,967,000 after acquiring an additional 191,339 shares during the last quarter. Peregrine Investment Management Inc. bought a new stake in shares of Microchip Technology in the 1st quarter worth $5,492,000. Finally, Norges Bank purchased a new stake in shares of Microchip Technology in the fourth quarter valued at about $664,564,000. 91.51% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other Microchip Technology news, CFO James Eric Bjornholt sold 3,667 shares of the stock in a transaction on Friday, May 22nd. The stock was sold at an average price of $90.87, for a total value of $333,220.29. Following the completion of the transaction, the chief financial officer owned 28,573 shares in the company, valued at approximately $2,596,428.51. This represents a 11.37% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, COO Richard J. Simoncic sold 5,000 shares of the company’s stock in a transaction dated Thursday, June 4th. The stock was sold at an average price of $97.52, for a total transaction of $487,600.00. Following the completion of the sale, the chief operating officer directly owned 130,508 shares in the company, valued at $12,727,140.16. This represents a 3.69% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 16,667 shares of company stock valued at $1,580,580 over the last ninety days. Company insiders own 1.79% of the company’s stock.

Microchip Technology Trading Up 1.9%

NASDAQ:MCHP opened at $79.17 on Friday. The company has a 50-day moving average price of $85.72 and a 200-day moving average price of $81.47. Microchip Technology Incorporated has a 12 month low of $48.52 and a 12 month high of $105.91. The company has a current ratio of 1.92, a quick ratio of 1.11 and a debt-to-equity ratio of 0.83. The stock has a market cap of $42.99 billion, a price-to-earnings ratio of 118.17, a P/E/G ratio of 0.62 and a beta of 1.76.

Microchip Technology (NASDAQ:MCHP) last announced its quarterly earnings results on Thursday, August 6th. The semiconductor company reported $0.76 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.70 by $0.06. Microchip Technology had a net margin of 9.34% and a return on equity of 14.97%. The company had revenue of $1.48 billion for the quarter, compared to analysts’ expectations of $1.46 billion. During the same quarter in the previous year, the company earned $0.27 earnings per share. Microchip Technology’s quarterly revenue was up 38.0% on a year-over-year basis. Microchip Technology has set its Q2 2027 guidance at 0.910-0.950 EPS. Equities analysts predict that Microchip Technology Incorporated will post 2.81 EPS for the current year.

Microchip Technology Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, September 9th. Investors of record on Monday, August 24th will be given a dividend of $0.455 per share. The ex-dividend date is Monday, August 24th. This represents a $1.82 annualized dividend and a dividend yield of 2.3%. Microchip Technology’s payout ratio is currently 271.64%.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on the stock. JPMorgan Chase & Co. increased their price objective on shares of Microchip Technology from $95.00 to $120.00 and gave the company an “overweight” rating in a research note on Friday, May 8th. Rosenblatt Securities reiterated a “buy” rating and set a $120.00 price target on shares of Microchip Technology in a report on Friday, August 7th. Susquehanna upped their price objective on Microchip Technology from $95.00 to $120.00 and gave the company a “positive” rating in a research note on Friday, May 8th. Needham & Company LLC boosted their price target on shares of Microchip Technology from $84.00 to $120.00 and gave the stock a “buy” rating in a report on Friday, May 8th. Finally, Barclays raised their price objective on shares of Microchip Technology from $80.00 to $105.00 and gave the stock an “equal weight” rating in a report on Monday, May 11th. Three research analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and seven have assigned a Hold rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $98.85.

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.