Kentucky Farm Bureau Mutual Insurance Co Takes $3.28 Million Position in Microchip Technology Incorporated $MCHP

Kentucky Farm Bureau Mutual Insurance Co bought a new position in shares of Microchip Technology Incorporated (NASDAQ:MCHP) in the second quarter, HoldingsChannel reports. The fund bought 36,000 shares of the semiconductor company’s stock, valued at approximately $3,283,000.

A number of other hedge funds and other institutional investors also recently bought and sold shares of MCHP. Wolverine Asset Management LLC raised its stake in Microchip Technology by 3,833.7% during the fourth quarter. Wolverine Asset Management LLC now owns 37,921 shares of the semiconductor company’s stock worth $2,416,000 after purchasing an additional 36,957 shares during the period. Vienna Powszechne Towarzystwo Emerytalne S.A. Vienna Insurance Group acquired a new stake in shares of Microchip Technology in the fourth quarter valued at about $6,691,000. Epoch Investment Partners Inc. raised its stake in shares of Microchip Technology by 16.5% during the fourth quarter. Epoch Investment Partners Inc. now owns 1,349,136 shares of the semiconductor company’s stock valued at $85,967,000 after purchasing an additional 191,339 shares during the period. Peregrine Investment Management Inc. purchased a new stake in shares of Microchip Technology during the first quarter valued at approximately $5,492,000. Finally, Norges Bank acquired a new position in shares of Microchip Technology during the fourth quarter worth $664,564,000. 91.51% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, COO Richard J. Simoncic sold 5,000 shares of Microchip Technology stock in a transaction dated Thursday, June 4th. The shares were sold at an average price of $97.52, for a total value of $487,600.00. Following the sale, the chief operating officer directly owned 130,508 shares in the company, valued at $12,727,140.16. This trade represents a 3.69% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO James Eric Bjornholt sold 837 shares of the business’s stock in a transaction dated Monday, August 17th. The shares were sold at an average price of $80.26, for a total transaction of $67,177.62. Following the transaction, the chief financial officer directly owned 30,960 shares of the company’s stock, valued at $2,484,849.60. The trade was a 2.63% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 17,504 shares of company stock valued at $1,647,758 in the last quarter. Company insiders own 1.79% of the company’s stock.

Microchip Technology Trading Down 1.4%

Shares of NASDAQ MCHP opened at $77.08 on Thursday. Microchip Technology Incorporated has a 12-month low of $48.52 and a 12-month high of $105.91. The company has a market cap of $41.86 billion, a price-to-earnings ratio of 115.05, a price-to-earnings-growth ratio of 0.54 and a beta of 1.76. The company has a current ratio of 1.92, a quick ratio of 1.11 and a debt-to-equity ratio of 0.83. The stock’s 50 day simple moving average is $85.02 and its 200 day simple moving average is $81.53.

Microchip Technology (NASDAQ:MCHP) last issued its quarterly earnings data 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 return on equity of 14.97% and a net margin of 9.34%.The firm had revenue of $1.48 billion during the quarter, compared to the consensus estimate of $1.46 billion. During the same period in the prior year, the business earned $0.27 EPS. The firm’s revenue was up 38.0% on a year-over-year basis. Microchip Technology has set its Q2 2027 guidance at 0.910-0.950 EPS. Equities research analysts expect that Microchip Technology Incorporated will post 3.16 EPS for the current year.

Microchip Technology Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, September 9th. Stockholders of record on Monday, August 24th will be given a dividend of $0.455 per share. The ex-dividend date is Monday, August 24th. This represents a $1.82 annualized dividend and a dividend yield of 2.4%. Microchip Technology’s dividend payout ratio is currently 271.64%.

Analyst Ratings Changes

Several research firms recently issued reports on MCHP. Needham & Company LLC lifted their price target on shares of Microchip Technology from $84.00 to $120.00 and gave the stock a “buy” rating in a research note on Friday, May 8th. Barclays lifted their target price on Microchip Technology from $80.00 to $105.00 and gave the stock an “equal weight” rating in a research report on Monday, May 11th. Weiss Ratings upgraded Microchip Technology from a “hold (c-)” rating to a “hold (c)” rating in a research note on Tuesday, August 11th. Truist Financial cut their target price on Microchip Technology from $105.00 to $90.00 and set a “hold” rating on the stock in a research report on Friday, August 7th. Finally, Zacks Research downgraded shares of Microchip Technology from a “strong-buy” rating to a “hold” rating in a research report on Monday. Two research analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and eight have given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $98.85.

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.