Microchip Technology Incorporated (NASDAQ:MCHP) Shares Acquired by KBC Group NV

KBC Group NV lifted its holdings in shares of Microchip Technology Incorporated (NASDAQ:MCHPFree Report) by 132.5% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 551,968 shares of the semiconductor company’s stock after acquiring an additional 314,567 shares during the quarter. KBC Group NV owned about 0.10% of Microchip Technology worth $49,777,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Principal Financial Group Inc. increased its stake in Microchip Technology by 0.9% during the 4th quarter. Principal Financial Group Inc. now owns 9,279,166 shares of the semiconductor company’s stock worth $836,795,000 after buying an additional 87,203 shares during the period. Northern Trust Corp increased its stake in Microchip Technology by 1.1% during the 3rd quarter. Northern Trust Corp now owns 7,521,409 shares of the semiconductor company’s stock worth $587,046,000 after buying an additional 80,431 shares during the period. Norges Bank purchased a new stake in Microchip Technology during the 4th quarter worth $672,196,000. Van ECK Associates Corp increased its stake in Microchip Technology by 16.0% during the 4th quarter. Van ECK Associates Corp now owns 5,177,014 shares of the semiconductor company’s stock worth $466,863,000 after buying an additional 714,376 shares during the period. Finally, Mizuho Markets Americas LLC bought a new stake in shares of Microchip Technology in the 3rd quarter worth about $225,800,000. Institutional investors and hedge funds own 91.51% of the company’s stock.

Insider Buying and Selling at Microchip Technology

In other Microchip Technology news, CFO James Eric Bjornholt sold 3,188 shares of the stock in a transaction that occurred on Thursday, May 23rd. The shares were sold at an average price of $99.98, for a total transaction of $318,736.24. Following the completion of the sale, the chief financial officer now owns 33,257 shares of the company’s stock, valued at approximately $3,325,034.86. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, CFO James Eric Bjornholt sold 3,188 shares of the firm’s stock in a transaction that occurred on Thursday, May 23rd. The shares were sold at an average price of $99.98, for a total transaction of $318,736.24. Following the completion of the sale, the chief financial officer now owns 33,257 shares of the company’s stock, valued at approximately $3,325,034.86. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, VP Stephen V. Drehobl sold 7,830 shares of the firm’s stock in a transaction that occurred on Thursday, May 16th. The stock was sold at an average price of $95.06, for a total transaction of $744,319.80. Following the sale, the vice president now directly owns 79,509 shares of the company’s stock, valued at approximately $7,558,125.54. The disclosure for this sale can be found here. In the last 90 days, insiders sold 21,245 shares of company stock valued at $1,993,875. 2.07% of the stock is currently owned by company insiders.

Microchip Technology Trading Down 0.4 %

MCHP stock opened at $95.28 on Tuesday. The company has a debt-to-equity ratio of 0.75, a quick ratio of 0.67 and a current ratio of 1.20. The company’s 50-day simple moving average is $91.26 and its 200 day simple moving average is $88.09. Microchip Technology Incorporated has a 52 week low of $68.75 and a 52 week high of $100.57. The company has a market capitalization of $51.15 billion, a PE ratio of 27.56 and a beta of 1.55.

Microchip Technology (NASDAQ:MCHPGet Free Report) last posted its quarterly earnings data on Monday, May 6th. The semiconductor company reported $0.57 earnings per share for the quarter, hitting the consensus estimate of $0.57. The business had revenue of $1.33 billion during the quarter, compared to analysts’ expectations of $1.33 billion. Microchip Technology had a net margin of 24.98% and a return on equity of 36.78%. Microchip Technology’s revenue was down 40.6% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.56 earnings per share. As a group, sell-side analysts anticipate that Microchip Technology Incorporated will post 2.35 earnings per share for the current year.

Microchip Technology Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, June 5th. Shareholders of record on Wednesday, May 22nd will be given a dividend of $0.452 per share. This represents a $1.81 dividend on an annualized basis and a yield of 1.90%. The ex-dividend date is Tuesday, May 21st. This is an increase from Microchip Technology’s previous quarterly dividend of $0.45. Microchip Technology’s dividend payout ratio is currently 52.16%.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on MCHP shares. KeyCorp boosted their target price on shares of Microchip Technology from $90.00 to $110.00 and gave the stock an “overweight” rating in a research report on Tuesday, May 7th. TD Cowen lifted their price target on shares of Microchip Technology from $80.00 to $90.00 and gave the company a “hold” rating in a report on Tuesday, May 7th. Susquehanna lifted their price target on shares of Microchip Technology from $100.00 to $105.00 and gave the company a “positive” rating in a report on Tuesday, May 7th. Truist Financial lifted their price target on shares of Microchip Technology from $93.00 to $96.00 and gave the company a “buy” rating in a report on Tuesday, May 7th. Finally, B. Riley lifted their price target on shares of Microchip Technology from $105.00 to $110.00 and gave the company a “buy” rating in a report on Tuesday, May 7th. Five analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $101.06.

Check Out Our Latest Report on MCHP

Microchip Technology Profile

(Free Report)

Microchip Technology Incorporated develops, manufactures, and sells smart, connected, and secure embedded control solutions in the Americas, Europe, and Asia. The company offers general purpose 8-bit, 16-bit, and 32-bit microcontrollers; 32-bit embedded mixed-signal microprocessors; and specialized microcontrollers for automotive, industrial, computing, communications, lighting, power supplies, motor control, human machine interface, security, wired connectivity, and wireless connectivity applications.

Read More

Institutional Ownership by Quarter for Microchip Technology (NASDAQ:MCHP)

Receive News & Ratings for Microchip Technology Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Microchip Technology and related companies with MarketBeat.com's FREE daily email newsletter.