143,551 Shares in Microchip Technology Incorporated $MCHP Acquired by Nykredit A S

Key Points

• Nykredit A/S acquired 143,551 shares of Microchip Technology during the second quarter, valued at approximately $13.1 million. Institutional investors and hedge funds collectively own 91.51% of MCHP.
• Microchip reported quarterly earnings of $0.76 per share on $1.48 billion in revenue, exceeding analyst expectations, while revenue increased 38% year over year.
• Analysts maintain a “Moderate Buy” consensus with an average price target of $98.67, although several firms recently lowered their targets. The company also pays a $0.455 quarterly dividend, representing a 2.5% yield.

Nykredit A S purchased a new stake in Microchip Technology Incorporated (NASDAQ:MCHP - Free Report) during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 143,551 shares of the semiconductor company's stock, valued at approximately $13,092,000.

Several other institutional investors and hedge funds also recently made changes to their positions in MCHP. Geode Capital Management LLC lifted its holdings in shares of Microchip Technology by 1.4% in the fourth quarter. Geode Capital Management LLC now owns 15,394,985 shares of the semiconductor company's stock valued at $977,638,000 after purchasing an additional 213,188 shares in the last quarter. Barclays PLC increased its stake in Microchip Technology by 66.5% in the 4th quarter. Barclays PLC now owns 13,996,883 shares of the semiconductor company's stock valued at $891,881,000 after buying an additional 5,590,210 shares during the last quarter. Victory Capital Management Inc. increased its stake in Microchip Technology by 11.4% in the 4th quarter. Victory Capital Management Inc. now owns 13,375,920 shares of the semiconductor company's stock valued at $852,317,000 after buying an additional 1,369,832 shares during the last quarter. Norges Bank bought a new stake in Microchip Technology during the 4th quarter worth about $664,564,000. Finally, T. Rowe Price Investment Management Inc. lifted its position in Microchip Technology by 4.7% during the 4th quarter. T. Rowe Price Investment Management Inc. now owns 9,919,171 shares of the semiconductor company's stock worth $632,050,000 after buying an additional 441,868 shares in the last quarter. Institutional investors and hedge funds own 91.51% of the company's stock.

Insider Activity at Microchip Technology

In related news, CFO James Bjornholt sold 4,112 shares of the business's stock in a transaction on Tuesday, August 25th. The shares were sold at an average price of $75.32, for a total value of $309,715.84. Following the sale, the chief financial officer owned 28,573 shares of the company's stock, valued at $2,152,118.36. The trade was a 12.58% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 1.79% of the company's stock.

Microchip Technology Price Performance

Shares of MCHP stock opened at $73.27 on Monday. Microchip Technology Incorporated has a twelve month low of $48.52 and a twelve month high of $105.91. The company has a quick ratio of 1.11, a current ratio of 1.92 and a debt-to-equity ratio of 0.83. The company has a market cap of $39.79 billion, a P/E ratio of 109.36, a P/E/G ratio of 0.51 and a beta of 1.75. The business has a fifty day simple moving average of $76.81 and a 200 day simple moving average of $80.92.

Microchip Technology (NASDAQ:MCHP - Get Free Report) last posted its earnings results on Thursday, August 6th. The semiconductor company reported $0.76 earnings per share for the quarter, topping analysts' consensus estimates of $0.70 by $0.06. The firm had revenue of $1.48 billion for the quarter, compared to analysts' expectations of $1.46 billion. Microchip Technology had a net margin of 9.34% and a return on equity of 14.97%. The company's revenue was up 38.0% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.27 earnings per share. Microchip Technology has set its Q2 2027 guidance at 0.910-0.950 EPS. On average, sell-side analysts forecast that Microchip Technology Incorporated will post 3.16 EPS for the current fiscal year.

Microchip Technology Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, September 9th. Stockholders of record on Monday, August 24th were issued a dividend of $0.455 per share. This represents a $1.82 dividend on an annualized basis and a dividend yield of 2.5%. The ex-dividend date was Monday, August 24th. Microchip Technology's payout ratio is 271.64%.

Analyst Ratings Changes

MCHP has been the subject of several recent research reports. Citigroup reduced their price target on Microchip Technology from $113.00 to $95.00 and set a "buy" rating for the company in a research report on Friday, August 7th. UBS Group reiterated a "buy" rating and set a $120.00 price objective (down from $130.00) on shares of Microchip Technology in a research note on Friday, August 7th. Cantor Fitzgerald reissued an "overweight" rating on shares of Microchip Technology in a research note on Wednesday, September 9th. Truist Financial cut their price target on shares of Microchip Technology from $105.00 to $90.00 and set a "hold" rating for the company in a research note on Friday, August 7th. Finally, TD Cowen decreased their price objective on shares of Microchip Technology from $105.00 to $90.00 and set a "hold" rating for the company in a research report on Monday, July 13th. Three analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and eight have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $98.67.

About Microchip Technology

Microchip Technology Incorporated NASDAQ: MCHP develops and manufactures semiconductor products for embedded control and connected applications. Its portfolio includes microcontrollers, microprocessors, analog and mixed-signal devices, power-management products, timing and connectivity solutions, memory products, field-programmable gate arrays (FPGAs), and security components.

The company also provides development tools, software, reference designs, and technical support that help customers design and integrate embedded systems.

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