KBC Group NV Has $2,281,000 Position in Microchip Technology Incorporated (MCHP)
KBC Group NV held its stake in shares of Microchip Technology Incorporated (NASDAQ:MCHP) during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 29,560 shares of the semiconductor company’s stock at the end of the second quarter. KBC Group NV’s holdings in Microchip Technology were worth $2,281,000 as of its most recent SEC filing.
A number of other large investors have also recently modified their holdings of the company. Grove Bank & Trust boosted its stake in shares of Microchip Technology by 15.8% in the second quarter. Grove Bank & Trust now owns 1,390 shares of the semiconductor company’s stock valued at $107,000 after buying an additional 190 shares during the last quarter. Trust Co. of Vermont boosted its stake in shares of Microchip Technology by 9.2% in the second quarter. Trust Co. of Vermont now owns 1,615 shares of the semiconductor company’s stock valued at $125,000 after buying an additional 136 shares during the last quarter. Smithfield Trust Co. boosted its stake in shares of Microchip Technology by 0.4% in the second quarter. Smithfield Trust Co. now owns 1,626 shares of the semiconductor company’s stock valued at $126,000 after buying an additional 7 shares during the last quarter. Advisory Services Network LLC purchased a new stake in shares of Microchip Technology during the first quarter valued at $135,000. Finally, Webster Bank N. A. boosted its stake in shares of Microchip Technology by 67.8% in the first quarter. Webster Bank N. A. now owns 1,980 shares of the semiconductor company’s stock valued at $146,000 after buying an additional 800 shares during the last quarter. 98.67% of the stock is currently owned by institutional investors.
Shares of Microchip Technology Incorporated (MCHP) opened at 82.63 on Monday. Microchip Technology Incorporated has a 52-week low of $57.52 and a 52-week high of $87.49. The company’s 50 day moving average price is $81.68 and its 200 day moving average price is $77.85. The stock has a market capitalization of $19.23 billion, a PE ratio of 44.52 and a beta of 1.06.
Microchip Technology (NASDAQ:MCHP) last posted its quarterly earnings results on Thursday, August 3rd. The semiconductor company reported $1.31 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.14 by $0.17. Microchip Technology had a return on equity of 34.33% and a net margin of 12.53%. The company had revenue of $972.10 million for the quarter, compared to analysts’ expectations of $944.87 million. During the same period last year, the firm earned $0.84 earnings per share. Microchip Technology’s quarterly revenue was up 21.6% on a year-over-year basis. On average, equities research analysts anticipate that Microchip Technology Incorporated will post $5.27 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 5th. Shareholders of record on Monday, August 21st will be paid a $0.362 dividend. The ex-dividend date is Thursday, August 17th. This is a boost from Microchip Technology’s previous quarterly dividend of $0.36. This represents a $1.45 dividend on an annualized basis and a yield of 1.75%. Microchip Technology’s dividend payout ratio (DPR) is currently 77.54%.
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MCHP has been the topic of several recent research reports. B. Riley reaffirmed a “buy” rating and issued a $90.00 price target on shares of Microchip Technology in a research note on Monday, May 8th. Citigroup Inc. set a $95.00 price target on Microchip Technology and gave the stock a “buy” rating in a research note on Wednesday, May 10th. Stifel Nicolaus increased their target price on Microchip Technology from $83.00 to $88.00 and gave the stock a “buy” rating in a research note on Wednesday, May 10th. Rosenblatt Securities reissued a “buy” rating and issued a $102.00 target price (up from $100.00) on shares of Microchip Technology in a research note on Tuesday, June 6th. Finally, BidaskClub cut Microchip Technology from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, July 5th. Six analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. Microchip Technology presently has an average rating of “Buy” and an average target price of $88.80.
In other Microchip Technology news, Director Wade F. Meyercord sold 1,300 shares of the firm’s stock in a transaction on Tuesday, August 15th. The stock was sold at an average price of $83.95, for a total value of $109,135.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, VP Stephen V. Drehobl sold 3,076 shares of the firm’s stock in a transaction on Tuesday, August 22nd. The shares were sold at an average price of $81.89, for a total value of $251,893.64. Following the completion of the sale, the vice president now owns 14,263 shares in the company, valued at $1,167,997.07. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 6,829 shares of company stock worth $561,905. 2.13% of the stock is owned by insiders.
About Microchip Technology
Microchip Technology Incorporated is engaged in developing, manufacturing and selling specialized semiconductor products used by its customers for a range of embedded control applications. The Company operates through two segments: semiconductor products and technology licensing. In the semiconductor products segment, the Company designs, develops, manufactures and markets microcontrollers, development tools and analog, interface, mixed signal and timing products.
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