KBC Group NV Raises Position in Microchip Technology Incorporated $MCHP

KBC Group NV lifted its holdings in shares of Microchip Technology Incorporated (NASDAQ:MCHP) by 188.8% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 217,412 shares of the semiconductor company’s stock after purchasing an additional 142,129 shares during the quarter. KBC Group NV’s holdings in Microchip Technology were worth $14,047,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in MCHP. EFG International AG acquired a new stake in shares of Microchip Technology in the fourth quarter worth approximately $29,000. Miller Capital Partners Inc. acquired a new position in Microchip Technology during the fourth quarter worth approximately $29,000. Garton & Associates Financial Advisors LLC acquired a new position in Microchip Technology during the fourth quarter worth approximately $33,000. Reflection Asset Management purchased a new position in Microchip Technology during the fourth quarter worth approximately $33,000. Finally, Caitong International Asset Management Co. Ltd raised its stake in Microchip Technology by 4,663.6% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 524 shares of the semiconductor company’s stock worth $33,000 after purchasing an additional 513 shares during the period. Hedge funds and other institutional investors own 91.51% of the company’s stock.

Analysts Set New Price Targets

MCHP has been the subject of several research analyst reports. Wells Fargo & Company dropped their price target on Microchip Technology from $95.00 to $88.00 and set an “equal weight” rating for the company in a research note on Monday. JPMorgan Chase & Co. lifted their price objective on Microchip Technology from $95.00 to $120.00 and gave the company an “overweight” rating in a research note on Friday, May 8th. Susquehanna boosted their target price on Microchip Technology from $95.00 to $120.00 and gave the stock a “positive” rating in a report on Friday, May 8th. TD Cowen dropped their target price on shares of Microchip Technology from $105.00 to $90.00 and set a “hold” rating for the company in a research report on Monday, July 13th. Finally, Rosenblatt Securities increased their target price on shares of Microchip Technology from $115.00 to $120.00 and gave the stock a “buy” rating in a research report on Friday, May 8th. Four equities research analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and seven have assigned a Hold rating to the company’s stock. According to MarketBeat, Microchip Technology currently has an average rating of “Moderate Buy” and a consensus price target of $99.76.

Insider Activity at Microchip Technology

In other Microchip Technology news, Director Matthew W. Chapman sold 3,000 shares of the stock in a transaction on Thursday, May 28th. The shares were sold at an average price of $97.52, for a total transaction of $292,560.00. Following the transaction, the director directly owned 17,665 shares in the company, valued at $1,722,690.80. This represents a 14.52% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, COO Richard J. Simoncic sold 5,000 shares of the stock in a transaction on Thursday, June 4th. The shares were sold at an average price of $97.52, for a total transaction of $487,600.00. Following the transaction, the chief operating officer owned 130,508 shares in the company, valued at $12,727,140.16. This trade represents a 3.69% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 553,302 shares of company stock worth $49,673,635 over the last three months. 1.79% of the stock is owned by corporate insiders.

Microchip Technology Stock Up 3.6%

Shares of NASDAQ MCHP opened at $83.38 on Wednesday. The company has a debt-to-equity ratio of 0.85, a quick ratio of 1.18 and a current ratio of 2.09. Microchip Technology Incorporated has a 1 year low of $48.52 and a 1 year high of $105.91. The stock’s 50-day simple moving average is $91.49 and its 200-day simple moving average is $80.84. The firm has a market cap of $45.28 billion, a price-to-earnings ratio of 397.07, a PEG ratio of 0.81 and a beta of 1.74.

Microchip Technology (NASDAQ:MCHP) last issued its quarterly earnings results on Thursday, May 7th. The semiconductor company reported $0.57 EPS for the quarter, beating analysts’ consensus estimates of $0.50 by $0.07. Microchip Technology had a return on equity of 10.87% and a net margin of 4.88%.The firm had revenue of $1.31 billion during the quarter, compared to the consensus estimate of $1.26 billion. During the same quarter in the prior year, the business posted $0.11 earnings per share. Microchip Technology’s revenue for the quarter was up 35.1% on a year-over-year basis. Microchip Technology has set its Q1 2027 guidance at 0.670-0.710 EPS. As a group, equities analysts anticipate that Microchip Technology Incorporated will post 2.69 earnings per share for the current fiscal year.

Microchip Technology Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, June 5th. Stockholders of record on Friday, May 22nd were paid a dividend of $0.455 per share. This represents a $1.82 annualized dividend and a dividend yield of 2.2%. The ex-dividend date was Friday, May 22nd. Microchip Technology’s dividend payout ratio is 866.67%.

Microchip Technology Company 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.