Microchip Technology Incorporated $MCHP Shares Acquired by Amundi

Key Points

• Amundi increased its holdings in Microchip Technology by 22.7%, owning over 10 million shares valued at approximately $484.7 million as of the last quarter.
• Microchip Technology recently reported earnings of $0.27 per share, surpassing analysts' expectations, despite a 13.3% decline in quarterly revenue year-over-year.
• The company plans to pay a quarterly dividend of $0.455 per share, with a yield of 2.9%, to shareholders on record as of August 22nd.

Amundi lifted its position in Microchip Technology Incorporated (NASDAQ:MCHP - Free Report) by 22.7% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 10,013,285 shares of the semiconductor company's stock after acquiring an additional 1,849,866 shares during the quarter. Amundi owned 1.86% of Microchip Technology worth $484,743,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in MCHP. Vanguard Group Inc. grew its stake in shares of Microchip Technology by 0.6% during the first quarter. Vanguard Group Inc. now owns 69,302,614 shares of the semiconductor company's stock worth $3,354,940,000 after acquiring an additional 390,269 shares during the last quarter. Invesco Ltd. grew its stake in shares of Microchip Technology by 63.0% during the first quarter. Invesco Ltd. now owns 16,707,031 shares of the semiconductor company's stock worth $808,787,000 after acquiring an additional 6,459,123 shares during the last quarter. T. Rowe Price Investment Management Inc. grew its stake in shares of Microchip Technology by 0.9% during the first quarter. T. Rowe Price Investment Management Inc. now owns 16,630,574 shares of the semiconductor company's stock worth $805,087,000 after acquiring an additional 152,434 shares during the last quarter. Boston Partners grew its stake in shares of Microchip Technology by 35.3% during the first quarter. Boston Partners now owns 10,726,413 shares of the semiconductor company's stock worth $517,082,000 after acquiring an additional 2,795,650 shares during the last quarter. Finally, Goldman Sachs Group Inc. grew its stake in shares of Microchip Technology by 138.9% during the first quarter. Goldman Sachs Group Inc. now owns 8,834,550 shares of the semiconductor company's stock worth $427,681,000 after acquiring an additional 5,136,154 shares during the last quarter. 91.51% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the company. Mizuho boosted their price target on Microchip Technology from $78.00 to $85.00 and gave the stock an "outperform" rating in a research note on Tuesday, July 8th. Wall Street Zen upgraded Microchip Technology from a "sell" rating to a "hold" rating in a research report on Friday, June 27th. Stifel Nicolaus upped their target price on Microchip Technology from $70.00 to $82.00 and gave the company a "buy" rating in a research report on Friday, July 18th. KeyCorp upped their target price on Microchip Technology from $70.00 to $85.00 and gave the company an "overweight" rating in a research report on Tuesday, July 8th. Finally, Rosenblatt Securities upped their target price on Microchip Technology from $63.00 to $70.00 and gave the company a "buy" rating in a research report on Friday, May 30th. One investment analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and six have assigned a Hold rating to the company. According to MarketBeat.com, Microchip Technology has an average rating of "Moderate Buy" and a consensus price target of $76.58.

Microchip Technology Stock Performance

Microchip Technology stock traded down $0.62 during mid-day trading on Monday, hitting $65.30. The company had a trading volume of 6,610,978 shares, compared to its average volume of 10,301,688. The company has a current ratio of 2.31, a quick ratio of 1.33 and a debt-to-equity ratio of 0.80. Microchip Technology Incorporated has a 12-month low of $34.13 and a 12-month high of $81.64. The company's fifty day moving average is $68.82 and its 200-day moving average is $59.50. The company has a market capitalization of $35.24 billion, a price-to-earnings ratio of -192.06, a P/E/G ratio of 1.89 and a beta of 1.56.

Microchip Technology (NASDAQ:MCHP - Get Free Report) last announced its earnings results on Thursday, August 7th. The semiconductor company reported $0.27 earnings per share for the quarter, topping the consensus estimate of $0.24 by $0.03. The business had revenue of $1.08 billion during the quarter, compared to the consensus estimate of $1.05 billion. Microchip Technology had a positive return on equity of 6.24% and a negative net margin of 3.50%.The business's quarterly revenue was down 13.3% on a year-over-year basis. During the same period in the prior year, the company posted $0.53 EPS. Microchip Technology has set its Q2 2026 guidance at 0.340-0.370 EPS. Equities research analysts predict that Microchip Technology Incorporated will post 1.03 EPS for the current year.

Microchip Technology Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, September 5th. Stockholders of record on Friday, August 22nd were paid a dividend of $0.455 per share. This represents a $1.82 annualized dividend and a dividend yield of 2.8%. The ex-dividend date of this dividend was Friday, August 22nd. Microchip Technology's dividend payout ratio is presently -535.29%.

Insider Activity at Microchip Technology

In related news, Director Matthew W. Chapman sold 10,000 shares of the stock in a transaction on Monday, August 25th. The stock was sold at an average price of $68.25, for a total value of $682,500.00. Following the completion of the transaction, the director directly owned 30,665 shares of the company's stock, valued at approximately $2,092,886.25. This represents a 24.59% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO James Eric Bjornholt sold 7,356 shares of the stock in a transaction dated Monday, August 25th. The shares were sold at an average price of $68.72, for a total transaction of $505,504.32. Following the completion of the sale, the chief financial officer owned 30,010 shares of the company's stock, valued at $2,062,287.20. This trade represents a 19.69% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 1.94% of the company's stock.

Microchip Technology Profile

Microchip Technology Incorporated engages in the development, manufacture, and sale of 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 mixed-signal 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.