BI Asset Management Fondsmaeglerselskab A S Sells 7,078 Shares of Microchip Technology Incorporated $MCHP

Key Points

• BI Asset Management Fondsmaeglerselskab A S has reduced its stake in Microchip Technology by 24.0%, leaving it with 22,431 shares, valued at approximately $1,086,000.
• Multiple institutional investors, including Invesco Ltd. and Goldman Sachs Group Inc., increased their holdings significantly in the first quarter, reflecting positive sentiment around the stock.
• The company reported $1.08 billion in revenue for the last quarter, exceeding analyst expectations and signaling a rebound despite a year-over-year revenue decline of 13.3%.

BI Asset Management Fondsmaeglerselskab A S cut its position in Microchip Technology Incorporated (NASDAQ:MCHP - Free Report) by 24.0% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 22,431 shares of the semiconductor company's stock after selling 7,078 shares during the quarter. BI Asset Management Fondsmaeglerselskab A S's holdings in Microchip Technology were worth $1,086,000 at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in the company. Watts Gwilliam & Co. LLC raised its stake in shares of Microchip Technology by 128.6% in the first quarter. Watts Gwilliam & Co. LLC now owns 61,396 shares of the semiconductor company's stock valued at $2,972,000 after buying an additional 34,535 shares during the period. Brooklyn Investment Group raised its stake in shares of Microchip Technology by 89.1% in the first quarter. Brooklyn Investment Group now owns 4,464 shares of the semiconductor company's stock valued at $216,000 after buying an additional 2,103 shares during the period. Summit Securities Group LLC raised its stake in shares of Microchip Technology by 2,755.3% in the first quarter. Summit Securities Group LLC now owns 2,427 shares of the semiconductor company's stock valued at $117,000 after buying an additional 2,342 shares during the period. Aberdeen Group plc raised its stake in shares of Microchip Technology by 115.1% in the first quarter. Aberdeen Group plc now owns 397,205 shares of the semiconductor company's stock valued at $18,959,000 after buying an additional 212,505 shares during the period. Finally, Horizon Investments LLC raised its stake in shares of Microchip Technology by 3.1% in the first quarter. Horizon Investments LLC now owns 15,531 shares of the semiconductor company's stock valued at $752,000 after buying an additional 467 shares during the period. 91.51% of the stock is currently owned by institutional investors.

Microchip Technology Stock Down 1.4%

Shares of MCHP traded down $0.97 on Wednesday, reaching $66.65. The stock had a trading volume of 4,489,996 shares, compared to its average volume of 10,344,079. The firm has a market capitalization of $35.97 billion, a price-to-earnings ratio of -195.79, a price-to-earnings-growth ratio of 1.98 and a beta of 1.55. The company has a debt-to-equity ratio of 0.80, a quick ratio of 1.33 and a current ratio of 2.31. The company has a 50-day simple moving average of $69.58 and a 200-day simple moving average of $59.02. Microchip Technology Incorporated has a 12-month low of $34.13 and a 12-month high of $82.65.

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

Microchip Technology Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 5th. Investors of record on Friday, August 22nd will be given a dividend of $0.455 per share. This represents a $1.82 dividend on an annualized basis and a yield of 2.7%. The ex-dividend date of this dividend is Friday, August 22nd. Microchip Technology's dividend payout ratio (DPR) is -535.29%.

Analyst Upgrades and Downgrades

MCHP has been the topic of several research reports. Mizuho boosted their target price on Microchip Technology from $78.00 to $85.00 and gave the company an "outperform" rating in a research note on Tuesday, July 8th. B. Riley boosted their price objective on Microchip Technology from $60.00 to $75.00 and gave the company a "buy" rating in a research note on Friday, May 9th. Needham & Company LLC boosted their price objective on Microchip Technology from $66.00 to $77.00 and gave the company a "buy" rating in a research note on Friday, August 8th. KeyCorp boosted their price objective on Microchip Technology from $70.00 to $85.00 and gave the company an "overweight" rating in a research note on Tuesday, July 8th. Finally, Wall Street Zen upgraded Microchip Technology from a "sell" rating to a "hold" rating in a research note on Friday, June 27th. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and six have assigned a Hold rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $76.58.

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.