KBC Group NV Decreases Position in Microchip Technology Incorporated $MCHP

KBC Group NV lowered its position in shares of Microchip Technology Incorporated (NASDAQ:MCHP) by 25.6% in the 2nd quarter, Holdings Channel.com reports. The fund 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 SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in MCHP. Resonant Capital Advisors LLC raised its stake in shares of Microchip Technology by 0.9% in the first 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 last quarter. Apella Capital LLC raised its position in Microchip Technology by 4.8% in the 2nd quarter. Apella Capital LLC now owns 2,669 shares of the semiconductor company’s stock worth $225,000 after buying an additional 122 shares during the last quarter. MCF Advisors LLC lifted its stake in Microchip Technology by 25.8% during the 4th 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. Gagnon Securities LLC boosted its holdings in shares of Microchip Technology by 0.5% during the 4th 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 last quarter. Finally, Evelyn Partners Investment Management LLP raised its holdings in shares of Microchip Technology by 1.5% during the fourth quarter. Evelyn Partners Investment Management LLP now owns 9,300 shares of the semiconductor company’s stock valued at $593,000 after purchasing an additional 140 shares during the last quarter. 91.51% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several equities research analysts recently issued reports on the stock. Rosenblatt Securities restated a “buy” rating and issued a $120.00 target price on shares of Microchip Technology in a report on Friday, August 7th. TD Cowen cut their price objective on Microchip Technology from $105.00 to $90.00 and set a “hold” rating for the company in a report on Monday, July 13th. JPMorgan Chase & Co. raised their target price on Microchip Technology from $95.00 to $120.00 and gave the stock an “overweight” rating in a research report on Friday, May 8th. Cantor Fitzgerald reiterated an “overweight” rating and issued a $125.00 price objective on shares of Microchip Technology in a research note on Monday, August 3rd. Finally, Susquehanna raised their price objective on shares of Microchip Technology from $95.00 to $120.00 and gave the stock a “positive” rating in a report on Friday, May 8th. Three investment analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and seven have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $98.85.

Microchip Technology Price Performance

Microchip Technology stock opened at $79.17 on Friday. The company has a debt-to-equity ratio of 0.83, a current ratio of 1.92 and a quick ratio of 1.11. The stock has a market cap of $42.99 billion, a price-to-earnings ratio of 118.17, a price-to-earnings-growth ratio of 0.62 and a beta of 1.76. The firm has a 50-day moving average of $85.72 and a two-hundred day moving average of $81.47. Microchip Technology Incorporated has a 1 year low of $48.52 and a 1 year high of $105.91.

Microchip Technology (NASDAQ:MCHP) last issued its earnings results on Thursday, August 6th. The semiconductor company reported $0.76 EPS for the quarter, topping analysts’ consensus estimates of $0.70 by $0.06. Microchip Technology had a net margin of 9.34% and a return on equity of 14.97%. The business had revenue of $1.48 billion for the quarter, compared to analyst estimates of $1.46 billion. During the same period last year, the company posted $0.27 earnings per share. The company’s quarterly revenue was up 38.0% compared to the same quarter last year. Microchip Technology has set its Q2 2027 guidance at 0.910-0.950 EPS. On average, research analysts forecast that Microchip Technology Incorporated will post 2.81 earnings per share for the current year.

Microchip Technology Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 9th. Investors of record on Monday, August 24th will be paid 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 yield of 2.3%. Microchip Technology’s payout ratio is 271.64%.

Insiders Place Their Bets

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 transaction of $333,220.29. Following the sale, the chief financial officer owned 28,573 shares of the company’s stock, valued at approximately $2,596,428.51. This trade represents a 11.37% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Matthew W. Chapman sold 3,000 shares of Microchip Technology stock in a transaction on Thursday, May 28th. The shares were sold at an average price of $97.52, for a total value of $292,560.00. Following the completion of the transaction, the director owned 17,665 shares in the company, valued at $1,722,690.80. This represents a 14.52% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 16,667 shares of company stock worth $1,580,580 over the last 90 days. Company insiders own 1.79% of the company’s stock.

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.