ABN Amro Investment Solutions Decreases Stock Holdings in Microchip Technology Incorporated $MCHP

ABN Amro Investment Solutions lessened its holdings in Microchip Technology Incorporated (NASDAQ:MCHP - Free Report) by 53.4% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 49,848 shares of the semiconductor company's stock after selling 57,137 shares during the period. ABN Amro Investment Solutions' holdings in Microchip Technology were worth $3,221,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in MCHP. Norges Bank purchased a new position in Microchip Technology in the 4th quarter worth approximately $664,564,000. Barclays PLC raised its stake in shares of Microchip Technology by 66.5% during the fourth quarter. Barclays PLC now owns 13,996,883 shares of the semiconductor company's stock valued at $891,881,000 after purchasing an additional 5,590,210 shares during the period. Rafferty Asset Management LLC lifted its position in shares of Microchip Technology by 41.0% during the second quarter. Rafferty Asset Management LLC now owns 6,203,762 shares of the semiconductor company's stock worth $436,559,000 after purchasing an additional 1,803,945 shares in the last quarter. Ameriprise Financial Inc. lifted its position in shares of Microchip Technology by 255.7% during the second quarter. Ameriprise Financial Inc. now owns 2,135,140 shares of the semiconductor company's stock worth $150,271,000 after purchasing an additional 1,534,829 shares in the last quarter. Finally, Worldquant Millennium Advisors LLC purchased a new position in shares of Microchip Technology in the second quarter valued at $101,359,000. Institutional investors and hedge funds own 91.51% of the company's stock.

Microchip Technology Trading Down 4.3%

NASDAQ:MCHP opened at $81.35 on Friday. The firm has a market capitalization of $44.17 billion, a P/E ratio of 387.40, a P/E/G ratio of 0.85 and a beta of 1.74. The business has a 50 day simple moving average of $90.94 and a 200 day simple moving average of $81.10. The company has a debt-to-equity ratio of 0.85, a current ratio of 2.09 and a quick ratio of 1.18. Microchip Technology Incorporated has a 12-month low of $48.52 and a 12-month high of $105.91.

Microchip Technology (NASDAQ:MCHP - Get Free Report) last issued its earnings results on Thursday, May 7th. The semiconductor company reported $0.57 earnings per share for the quarter, topping the consensus estimate of $0.50 by $0.07. Microchip Technology had a return on equity of 10.87% and a net margin of 4.88%.The firm had revenue of $1.31 billion for the quarter, compared to analyst estimates of $1.26 billion. During the same period last year, the company earned $0.11 earnings per share. The firm's revenue for the quarter was up 35.1% on a year-over-year basis. Microchip Technology has set its Q1 2027 guidance at 0.670-0.710 EPS. Equities research analysts predict that Microchip Technology Incorporated will post 2.7 EPS for the current year.

Microchip Technology Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, June 5th. Shareholders of record on Friday, May 22nd were given a $0.455 dividend. The ex-dividend date was Friday, May 22nd. This represents a $1.82 annualized dividend and a yield of 2.2%. Microchip Technology's dividend payout ratio is 866.67%.

Insider Activity

In other Microchip Technology news, CEO Steve Sanghi sold 76,469 shares of the firm's stock in a transaction that occurred on 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 sale, the chief executive officer owned 9,385,834 shares in the company, valued at approximately $878,326,345.72. This trade represents a 0.81% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Matthew W. Chapman sold 10,000 shares of Microchip Technology stock in a transaction that occurred on Friday, May 15th. The shares were sold at an average price of $95.48, for a total value of $954,800.00. Following the sale, the director directly owned 20,665 shares in the company, valued at approximately $1,973,094.20. This trade represents a 32.61% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 136,721 shares of company stock worth $12,793,719 in the last quarter. Company insiders own 1.79% of the company's stock.

Wall Street Analyst Weigh In

MCHP has been the subject of a number of recent analyst reports. Barclays raised their price target on shares of Microchip Technology from $80.00 to $105.00 and gave the company an "equal weight" rating in a report on Monday, May 11th. Citigroup boosted 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. UBS Group reissued a "buy" rating on shares of Microchip Technology in a research report on Tuesday, June 2nd. Rosenblatt Securities upped their target price on Microchip Technology from $115.00 to $120.00 and gave the company a "buy" rating in a research report on Friday, May 8th. Finally, Weiss Ratings raised Microchip Technology from a "hold (c-)" rating to a "hold (c)" rating in a research report on Thursday, June 4th. Four research analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and seven have given a Hold rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $99.76.

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.

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