Danske Bank A S Purchases Shares of 274,085 Microchip Technology Incorporated $MCHP

Danske Bank A S bought a new stake in shares of Microchip Technology Incorporated (NASDAQ:MCHP) in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 274,085 shares of the semiconductor company’s stock, valued at approximately $24,997,000.

Several other institutional investors and hedge funds have also bought and sold shares of MCHP. Resonant Capital Advisors LLC increased its stake in Microchip Technology by 0.9% in the 1st quarter. Resonant Capital Advisors LLC now owns 12,542 shares of the semiconductor company’s stock worth $810,000 after purchasing an additional 118 shares during the period. Apella Capital LLC boosted its position in Microchip Technology by 4.8% during the 2nd quarter. Apella Capital LLC now owns 2,669 shares of the semiconductor company’s stock valued at $225,000 after buying an additional 122 shares during the period. Bridgewater Advisors Inc. grew its holdings in Microchip Technology by 4.2% in the 2nd quarter. Bridgewater Advisors Inc. now owns 3,331 shares of the semiconductor company’s stock worth $304,000 after acquiring an additional 133 shares during the last quarter. MCF Advisors LLC increased its position in shares of Microchip Technology by 25.8% in the fourth quarter. MCF Advisors LLC now owns 659 shares of the semiconductor company’s stock valued at $42,000 after acquiring an additional 135 shares during the period. Finally, Gagnon Securities LLC increased its position in shares of Microchip Technology by 0.5% in the fourth quarter. Gagnon Securities LLC now owns 27,162 shares of the semiconductor company’s stock valued at $1,731,000 after acquiring an additional 137 shares during the period. 91.51% of the stock is currently owned by institutional investors.

Insider Transactions at Microchip Technology

In related news, Director Matthew W. Chapman sold 3,000 shares of the stock in a transaction on Thursday, May 28th. The stock was sold at an average price of $97.52, for a total transaction of $292,560.00. Following the sale, the director directly owned 17,665 shares of the company’s stock, valued at $1,722,690.80. This trade represents a 14.52% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, COO Richard J. Simoncic sold 5,000 shares of Microchip Technology stock in a transaction dated Thursday, June 4th. The stock was sold at an average price of $97.52, for a total value of $487,600.00. Following the completion of the sale, the chief operating officer owned 130,508 shares of the company’s stock, valued at $12,727,140.16. The trade was a 3.69% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 17,504 shares of company stock worth $1,647,758 over the last quarter. 1.79% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on MCHP. Needham & Company LLC increased their target price 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. JPMorgan Chase & Co. upped their price target on Microchip Technology from $95.00 to $120.00 and gave the company an “overweight” rating in a research report on Friday, May 8th. Barclays increased their price objective on Microchip Technology from $80.00 to $105.00 and gave the stock an “equal weight” rating in a report on Monday, May 11th. TD Cowen cut their target price on shares of Microchip Technology from $105.00 to $90.00 and set a “hold” rating on the stock in a research note on Monday, July 13th. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $125.00 price target on shares of Microchip Technology in a research note on Monday. Two analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and eight have given a Hold rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $98.85.

Microchip Technology Stock Down 1.4%

Shares of Microchip Technology stock opened at $77.08 on Thursday. The company has a 50-day simple moving average of $85.02 and a two-hundred day simple moving average of $81.53. The stock has a market capitalization of $41.86 billion, a PE ratio of 115.05, a price-to-earnings-growth ratio of 0.54 and a beta of 1.76. Microchip Technology Incorporated has a 52-week low of $48.52 and a 52-week high of $105.91. The company has a debt-to-equity ratio of 0.83, a quick ratio of 1.11 and a current ratio of 1.92.

Microchip Technology (NASDAQ:MCHP) last posted its quarterly earnings results on Thursday, August 6th. The semiconductor company reported $0.76 EPS for the quarter, beating analysts’ consensus estimates of $0.70 by $0.06. The firm had revenue of $1.48 billion for the quarter, compared to analysts’ expectations of $1.46 billion. Microchip Technology had a net margin of 9.34% and a return on equity of 14.97%. The business’s revenue for the quarter was up 38.0% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.27 earnings per share. Microchip Technology has set its Q2 2027 guidance at 0.910-0.950 EPS. On average, analysts anticipate that Microchip Technology Incorporated will post 3.16 EPS for the current fiscal year.

Microchip Technology Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 9th. Shareholders of record on Monday, August 24th will be issued a $0.455 dividend. The ex-dividend date of this dividend is Monday, August 24th. This represents a $1.82 dividend on an annualized basis and a dividend yield of 2.4%. Microchip Technology’s dividend payout ratio (DPR) is presently 271.64%.

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.