Norinchukin Bank The Buys 12,614 Shares of Microchip Technology Incorporated $MCHP

Key Points

• Norinchukin Bank The increased its stake in Microchip Technology by 44.4%, purchasing an additional 12,614 shares during the 1st quarter, bringing its total holdings to 41,034 shares worth approximately $1,986,000.
• Several hedge funds, including T. Rowe Price Investment Management, have also boosted their holdings in Microchip Technology, indicating strong institutional interest in the company.
• Analysts have raised their price targets for Microchip Technology, with Evercore ISI setting a new target of $83.00, reflecting a generally positive outlook for the stock amidst recent performance metrics.

Norinchukin Bank The increased its holdings in Microchip Technology Incorporated (NASDAQ:MCHP - Free Report) by 44.4% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 41,034 shares of the semiconductor company's stock after purchasing an additional 12,614 shares during the period. Norinchukin Bank The's holdings in Microchip Technology were worth $1,986,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of MCHP. Northwest Bank & Trust Co increased its holdings in shares of Microchip Technology by 3.0% during the fourth quarter. Northwest Bank & Trust Co now owns 7,392 shares of the semiconductor company's stock worth $424,000 after buying an additional 217 shares in the last quarter. Clearstead Trust LLC grew its stake in shares of Microchip Technology by 10.5% during the first quarter. Clearstead Trust LLC now owns 2,356 shares of the semiconductor company's stock valued at $114,000 after purchasing an additional 224 shares during the last quarter. Oregon Public Employees Retirement Fund grew its stake in shares of Microchip Technology by 0.5% during the first quarter. Oregon Public Employees Retirement Fund now owns 46,235 shares of the semiconductor company's stock valued at $2,238,000 after purchasing an additional 230 shares during the last quarter. Greenleaf Trust grew its stake in shares of Microchip Technology by 1.0% during the first quarter. Greenleaf Trust now owns 24,933 shares of the semiconductor company's stock valued at $1,207,000 after purchasing an additional 242 shares during the last quarter. Finally, Bartlett & CO. Wealth Management LLC grew its stake in shares of Microchip Technology by 3.4% during the first quarter. Bartlett & CO. Wealth Management LLC now owns 8,360 shares of the semiconductor company's stock valued at $405,000 after purchasing an additional 276 shares during the last quarter. 91.51% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

MCHP has been the topic of several research analyst reports. TD Cowen decreased their price target on shares of Microchip Technology from $75.00 to $60.00 and set a "hold" rating on the stock in a research note on Friday, August 8th. Piper Sandler increased their price target on shares of Microchip Technology from $65.00 to $80.00 and gave the company an "overweight" rating in a research note on Friday, August 8th. UBS Group increased their price target on shares of Microchip Technology from $65.00 to $85.00 and gave the company a "buy" rating in a research note on Monday, July 7th. Morgan Stanley increased their price target on shares of Microchip Technology from $39.00 to $50.00 and gave the company an "equal weight" rating in a research note on Friday, May 9th. Finally, Bank of America raised shares of Microchip Technology from an "underperform" rating to a "neutral" rating and set a $56.00 price target on the stock in a research note on Friday, May 9th. One research analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and six have issued a Hold rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $76.58.

Microchip Technology Stock Performance

Shares of MCHP traded down $0.97 during midday trading on Wednesday, reaching $66.65. The stock had a trading volume of 8,071,330 shares, compared to its average volume of 10,345,565. The firm 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 one year low of $34.13 and a one year high of $82.65. The firm has a market cap of $35.97 billion, a PE ratio of -196.03, a P/E/G ratio of 1.98 and a beta of 1.55. 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 (NASDAQ:MCHP - Get Free Report) last announced its quarterly earnings data on Thursday, August 7th. The semiconductor company reported $0.27 EPS for the quarter, beating analysts' consensus estimates of $0.24 by $0.03. Microchip Technology had a negative net margin of 3.50% and a positive return on equity of 6.24%. The company had revenue of $1.08 billion during the quarter, compared to the consensus estimate of $1.05 billion. During the same quarter last year, the firm posted $0.53 EPS. The company's quarterly revenue was down 13.3% on a year-over-year basis. Microchip Technology has set its Q2 2026 guidance at 0.340-0.370 EPS. As a group, sell-side analysts anticipate that Microchip Technology Incorporated will post 1.03 EPS for the current year.

Microchip Technology Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 5th. Stockholders of record on Friday, August 22nd will be given a $0.455 dividend. This represents a $1.82 dividend on an annualized basis and a dividend 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%.

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.