DNB Asset Management AS Has $10.13 Million Position in Microchip Technology Incorporated $MCHP

DNB Asset Management AS increased its stake in Microchip Technology Incorporated (NASDAQ:MCHP) by 60.9% during the third quarter, Holdings Channel.com reports. The fund owned 157,668 shares of the semiconductor company’s stock after buying an additional 59,683 shares during the period. DNB Asset Management AS’s holdings in Microchip Technology were worth $10,125,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Norges Bank bought a new position in Microchip Technology during the 2nd quarter worth approximately $473,320,000. Dodge & Cox raised its stake in Microchip Technology by 958.4% during the second quarter. Dodge & Cox now owns 6,339,800 shares of the semiconductor company’s stock worth $446,132,000 after buying an additional 5,740,827 shares during the last quarter. Boston Partners lifted its holdings in Microchip Technology by 38.2% in the second quarter. Boston Partners now owns 14,827,447 shares of the semiconductor company’s stock valued at $1,041,868,000 after buying an additional 4,101,034 shares during the period. State Street Corp boosted its position in Microchip Technology by 8.5% during the second quarter. State Street Corp now owns 31,888,814 shares of the semiconductor company’s stock valued at $2,244,016,000 after acquiring an additional 2,489,258 shares during the last quarter. Finally, The Manufacturers Life Insurance Company boosted its position in Microchip Technology by 582.0% during the second quarter. The Manufacturers Life Insurance Company now owns 2,154,164 shares of the semiconductor company’s stock valued at $151,589,000 after acquiring an additional 1,838,300 shares during the last quarter. 91.51% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on the company. TD Cowen cut their target price on Microchip Technology from $65.00 to $60.00 and set a “hold” rating on the stock in a research report on Friday, November 7th. Bank of America upgraded Microchip Technology from a “neutral” rating to a “buy” rating and set a $95.00 price target on the stock in a report on Wednesday, January 28th. Piper Sandler raised their price objective on shares of Microchip Technology from $80.00 to $85.00 and gave the stock an “overweight” rating in a research report on Thursday, January 15th. Jefferies Financial Group reiterated a “hold” rating on shares of Microchip Technology in a research note on Wednesday, February 4th. Finally, B. Riley Financial increased their target price on shares of Microchip Technology from $85.00 to $95.00 and gave the stock a “buy” rating in a research note on Monday, January 12th. Three analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and eight have assigned a Hold rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $86.00.

Microchip Technology Stock Performance

NASDAQ MCHP opened at $74.64 on Friday. The company has a market cap of $40.39 billion, a P/E ratio of -257.38, a PEG ratio of 1.88 and a beta of 1.46. The company has a fifty day simple moving average of $73.81 and a 200 day simple moving average of $66.59. The company has a current ratio of 2.16, a quick ratio of 1.16 and a debt-to-equity ratio of 0.82. Microchip Technology Incorporated has a 12-month low of $34.13 and a 12-month high of $83.35.

Microchip Technology (NASDAQ:MCHP) last released its quarterly earnings data on Thursday, February 5th. The semiconductor company reported $0.44 earnings per share for the quarter, beating analysts’ consensus estimates of $0.43 by $0.01. The firm had revenue of $1.19 billion for the quarter, compared to analyst estimates of $1.19 billion. Microchip Technology had a negative net margin of 1.57% and a positive return on equity of 7.16%. The business’s quarterly revenue was up 15.6% compared to the same quarter last year. During the same period last year, the firm earned $0.20 earnings per share. Microchip Technology has set its Q4 2026 guidance at 0.480-0.520 EPS. Sell-side analysts predict 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 will be paid on Tuesday, March 10th. Shareholders of record on Monday, February 23rd will be issued a dividend of $0.455 per share. This represents a $1.82 dividend on an annualized basis and a yield of 2.4%. The ex-dividend date of this dividend is Monday, February 23rd. Microchip Technology’s payout ratio is currently -627.59%.

Insider Activity at Microchip Technology

In related news, CEO Steve Sanghi sold 98,814 shares of the stock in a transaction on Wednesday, January 28th. The stock was sold at an average price of $80.55, for a total value of $7,959,467.70. Following the completion of the sale, the chief executive officer directly owned 9,922,319 shares of the company’s stock, valued at approximately $799,242,795.45. This represents a 0.99% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 1.94% of the stock is currently owned by company insiders.

About Microchip Technology

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.