ING Groep NV Buys 295,156 Shares of Microchip Technology Incorporated $MCHP

ING Groep NV raised its stake in Microchip Technology Incorporated (NASDAQ:MCHP) by 78.2% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 672,706 shares of the semiconductor company’s stock after purchasing an additional 295,156 shares during the period. ING Groep NV owned approximately 0.12% of Microchip Technology worth $42,865,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of MCHP. AQR Capital Management LLC boosted its holdings in Microchip Technology by 51.3% in the 1st quarter. AQR Capital Management LLC now owns 17,201 shares of the semiconductor company’s stock valued at $827,000 after purchasing an additional 5,835 shares during the period. Geneos Wealth Management Inc. raised its stake in shares of Microchip Technology by 101.8% in the 1st quarter. Geneos Wealth Management Inc. now owns 1,221 shares of the semiconductor company’s stock valued at $59,000 after buying an additional 616 shares in the last quarter. Cresset Asset Management LLC lifted its holdings in shares of Microchip Technology by 5.4% during the 2nd quarter. Cresset Asset Management LLC now owns 11,433 shares of the semiconductor company’s stock worth $805,000 after acquiring an additional 589 shares during the period. AXA S.A. lifted its holdings in shares of Microchip Technology by 21.3% during the 2nd quarter. AXA S.A. now owns 51,552 shares of the semiconductor company’s stock worth $3,628,000 after acquiring an additional 9,043 shares during the period. Finally, Treasurer of the State of North Carolina lifted its holdings in shares of Microchip Technology by 1.6% during the 2nd quarter. Treasurer of the State of North Carolina now owns 246,530 shares of the semiconductor company’s stock worth $17,348,000 after acquiring an additional 3,851 shares during the period. 91.51% of the stock is owned by institutional investors.

Microchip Technology Stock Down 8.3%

Shares of NASDAQ:MCHP opened at $88.34 on Friday. Microchip Technology Incorporated has a 12 month low of $48.52 and a 12 month high of $105.91. The company’s 50-day moving average price is $85.00 and its two-hundred day moving average price is $74.17. The company has a quick ratio of 1.18, a current ratio of 2.09 and a debt-to-equity ratio of 0.85. The firm has a market cap of $47.89 billion, a P/E ratio of 420.69, a P/E/G ratio of 0.93 and a beta of 1.73.

Microchip Technology (NASDAQ:MCHP) last issued its quarterly earnings data on Thursday, May 7th. The semiconductor company reported $0.57 EPS for the quarter, topping analysts’ consensus estimates of $0.50 by $0.07. Microchip Technology had a net margin of 4.88% and a return on equity of 10.87%. The firm had revenue of $1.31 billion for the quarter, compared to analyst estimates of $1.26 billion. During the same quarter in the prior year, the firm earned $0.11 EPS. The company’s revenue 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, research analysts forecast that Microchip Technology Incorporated will post 2.58 EPS for the current fiscal year.

Microchip Technology Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, June 5th. Shareholders of record on Friday, May 22nd were issued a dividend of $0.455 per share. The ex-dividend date of this dividend was Friday, May 22nd. This represents a $1.82 dividend on an annualized basis and a yield of 2.1%. Microchip Technology’s dividend payout ratio is currently 866.67%.

Analyst Ratings Changes

A number of equities analysts have recently commented on the stock. Wall Street Zen raised shares of Microchip Technology from a “hold” rating to a “buy” rating in a report on Saturday, May 9th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $125.00 price objective on shares of Microchip Technology in a report on Wednesday, May 13th. Citigroup raised their price objective on shares of Microchip Technology from $91.00 to $113.00 and gave the stock a “buy” rating in a report on Friday, May 8th. Argus raised shares of Microchip Technology to a “strong-buy” rating in a report on Monday, February 9th. Finally, Wells Fargo & Company raised their price objective on shares of Microchip Technology from $75.00 to $95.00 and gave the stock an “equal weight” rating in a report on Friday, May 8th. Four equities research analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating and seven have issued a Hold rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $97.52.

Insider Activity at Microchip Technology

In other Microchip Technology news, Director Matthew W. Chapman sold 3,000 shares of the company’s stock in a transaction dated 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 approximately $1,722,690.80. This represents a 14.52% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Steve Sanghi sold 76,469 shares of the company’s stock in a transaction dated Friday, May 1st. The shares were sold at an average price of $93.58, for a total value of $7,155,969.02. Following the completion of the sale, the chief executive officer directly owned 9,385,834 shares of the company’s stock, valued at approximately $878,326,345.72. This trade represents a 0.81% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 548,302 shares of company stock worth $49,186,035 in the last quarter. Insiders own 1.94% of the company’s stock.

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.