Danske Bank A S Invests $25 Million in Microchip Technology Incorporated $MCHP

Danske Bank A S purchased a new stake in Microchip Technology Incorporated (NASDAQ:MCHP - Free Report) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 274,085 shares of the semiconductor company's stock, valued at approximately $24,997,000. Danske Bank A S owned 0.05% of Microchip Technology as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Norges Bank bought a new position in Microchip Technology in the 4th quarter worth approximately $664,564,000. Barclays PLC raised its holdings in Microchip Technology by 66.5% during the 4th quarter. Barclays PLC now owns 13,996,883 shares of the semiconductor company's stock valued at $891,881,000 after acquiring 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 acquiring 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 acquiring an additional 1,534,829 shares in the last quarter. Finally, Worldquant Millennium Advisors LLC bought a new position in shares of Microchip Technology in the second quarter worth $101,359,000. 91.51% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on MCHP shares. JPMorgan Chase & Co. lifted their price target on Microchip Technology from $95.00 to $120.00 and gave the company an "overweight" rating in a research report on Friday, May 8th. Susquehanna raised their target price on Microchip Technology from $95.00 to $120.00 and gave the stock a "positive" rating in a research note on Friday, May 8th. Citigroup reduced their target price on Microchip Technology from $113.00 to $95.00 and set a "buy" rating for the company in a report on Friday, August 7th. UBS Group reiterated a "buy" rating and set a $120.00 price target (down from $130.00) on shares of Microchip Technology in a research report on Friday, August 7th. Finally, Weiss Ratings raised shares of Microchip Technology from a "hold (c-)" rating to a "hold (c)" rating in a report on Tuesday, August 11th. Two investment analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating and eight have issued a Hold rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $98.85.

Insider Transactions at Microchip Technology

In related news, COO Richard J. Simoncic sold 5,000 shares of the firm's stock in a transaction dated Thursday, June 4th. The stock was sold at an average price of $97.52, for a total transaction of $487,600.00. Following the transaction, the chief operating officer directly owned 130,508 shares of the company's stock, valued at approximately $12,727,140.16. This trade represents a 3.69% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Matthew W. Chapman sold 3,000 shares of the business's stock in a transaction that occurred on Thursday, May 28th. The stock was sold at an average price of $97.52, for a total value of $292,560.00. Following the completion of the sale, the director owned 17,665 shares of the company's stock, valued at $1,722,690.80. The trade was a 14.52% decrease in their position. The SEC filing for this sale provides additional information. In the last three months, insiders sold 17,504 shares of company stock worth $1,647,758. 1.79% of the stock is currently owned by corporate insiders.

Microchip Technology Stock Down 1.4%

MCHP stock opened at $77.08 on Thursday. The company's 50 day moving average is $85.02 and its 200 day moving average is $81.53. The stock 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. Microchip Technology Incorporated has a 1-year low of $48.52 and a 1-year high of $105.91.

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

Microchip Technology Dividend Announcement

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

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.

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