Microchip Technology Incorporated $MCHP Stock Position Cut by ABN Amro Investment Solutions

ABN Amro Investment Solutions decreased its stake in shares of Microchip Technology Incorporated (NASDAQ:MCHP) by 53.4% during the 1st quarter, according to the company in its most recent 13F 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.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Vanguard Group Inc. boosted its holdings in shares of Microchip Technology by 2.0% in the fourth quarter. Vanguard Group Inc. now owns 73,506,339 shares of the semiconductor company’s stock valued at $4,683,824,000 after acquiring an additional 1,430,781 shares in the last quarter. State Street Corp raised its holdings in Microchip Technology by 2.8% during the fourth quarter. State Street Corp now owns 28,863,048 shares of the semiconductor company’s stock worth $1,839,153,000 after purchasing an additional 783,157 shares in the last quarter. Boston Partners lifted its position in Microchip Technology by 9.5% in the third quarter. Boston Partners now owns 16,234,332 shares of the semiconductor company’s stock worth $1,044,024,000 after purchasing an additional 1,406,885 shares during the period. Geode Capital Management LLC lifted its position in Microchip Technology by 1.4% in the fourth quarter. Geode Capital Management LLC now owns 15,394,985 shares of the semiconductor company’s stock worth $977,638,000 after purchasing an additional 213,188 shares during the period. Finally, Invesco Ltd. boosted its stake in Microchip Technology by 4.8% during the 4th quarter. Invesco Ltd. now owns 14,992,128 shares of the semiconductor company’s stock valued at $955,298,000 after purchasing an additional 684,561 shares in the last quarter. 91.51% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

MCHP has been the topic of several research analyst reports. Barclays lifted their price target on Microchip Technology from $80.00 to $105.00 and gave the company an “equal weight” rating in a research report on Monday, May 11th. Cantor Fitzgerald restated an “overweight” rating and issued a $125.00 price objective on shares of Microchip Technology in a report on Wednesday, May 13th. Citigroup raised their target price on Microchip Technology from $91.00 to $113.00 and gave the company a “buy” rating in a research note on Friday, May 8th. Wells Fargo & Company lowered their target price on Microchip Technology from $95.00 to $88.00 and set an “equal weight” rating on the stock in a report on Monday. Finally, UBS Group reiterated a “buy” rating on shares of Microchip Technology in a research report on Tuesday, June 2nd. Four research analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and seven have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $99.76.

Microchip Technology Trading Down 4.3%

NASDAQ MCHP opened at $81.35 on Friday. The firm’s 50 day moving average price is $90.94 and its two-hundred day moving average price is $81.10. The company has a debt-to-equity ratio of 0.85, a quick ratio of 1.18 and a current ratio of 2.09. Microchip Technology Incorporated has a twelve month low of $48.52 and a twelve month high of $105.91. The stock has a market cap of $44.17 billion, a price-to-earnings ratio of 387.40, a PEG ratio of 0.85 and a beta of 1.74.

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

Microchip Technology Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 5th. Investors of record on Friday, May 22nd were paid a $0.455 dividend. This represents a $1.82 annualized dividend and a yield of 2.2%. The ex-dividend date of this dividend was Friday, May 22nd. Microchip Technology’s dividend payout ratio is currently 866.67%.

Insiders Place Their Bets

In other Microchip Technology news, Director Matthew W. Chapman sold 3,000 shares of Microchip Technology stock in a transaction dated Thursday, May 28th. The stock was sold at an average price of $97.52, for a total transaction of $292,560.00. Following the transaction, 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 transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CFO James Eric Bjornholt sold 3,667 shares of the company’s stock in a transaction dated Friday, May 22nd. The shares were sold at an average price of $90.87, for a total value of $333,220.29. Following the completion of the transaction, the chief financial officer owned 28,573 shares in the company, valued at $2,596,428.51. This represents a 11.37% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 136,721 shares of company stock valued at $12,793,719 in the last 90 days. Insiders own 1.79% of the company’s stock.

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.