KBC Group NV Has $5.53 Million Holdings in Microchip Technology Incorporated (NASDAQ:MCHP)

KBC Group NV grew its holdings in Microchip Technology Incorporated (NASDAQ:MCHP) by 5.7% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 96,413 shares of the semiconductor company’s stock after buying an additional 5,178 shares during the period. KBC Group NV’s holdings in Microchip Technology were worth $5,529,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in MCHP. NewEdge Advisors LLC increased its holdings in shares of Microchip Technology by 12.1% in the second quarter. NewEdge Advisors LLC now owns 25,714 shares of the semiconductor company’s stock valued at $2,353,000 after purchasing an additional 2,777 shares during the last quarter. Cetera Investment Advisers boosted its holdings in shares of Microchip Technology by 4.9% during the 2nd quarter. Cetera Investment Advisers now owns 153,220 shares of the semiconductor company’s stock worth $14,020,000 after buying an additional 7,195 shares during the period. Strategic Investment Solutions Inc. IL acquired a new position in Microchip Technology in the 2nd quarter valued at about $119,000. Sanctuary Advisors LLC bought a new position in Microchip Technology in the 2nd quarter valued at about $14,243,000. Finally, Heritage Wealth Management Inc. acquired a new stake in Microchip Technology during the second quarter worth approximately $322,000. 91.51% of the stock is currently owned by institutional investors.

Microchip Technology Stock Down 1.6 %

MCHP stock opened at $55.16 on Friday. The stock has a market capitalization of $29.62 billion, a P/E ratio of 38.57 and a beta of 1.52. The company has a current ratio of 0.88, a quick ratio of 0.48 and a debt-to-equity ratio of 0.71. The firm has a 50-day moving average price of $59.77 and a 200-day moving average price of $71.72. Microchip Technology Incorporated has a 12 month low of $54.18 and a 12 month high of $100.57.

Microchip Technology (NASDAQ:MCHP) last issued its earnings results on Tuesday, November 5th. The semiconductor company reported $0.46 earnings per share for the quarter, beating analysts’ consensus estimates of $0.43 by $0.03. The firm had revenue of $1.16 billion for the quarter, compared to analyst estimates of $1.15 billion. Microchip Technology had a net margin of 14.22% and a return on equity of 19.47%. The company’s quarterly revenue was down 48.4% on a year-over-year basis. During the same quarter last year, the business posted $1.54 earnings per share. As a group, equities research analysts anticipate that Microchip Technology Incorporated will post 1.31 EPS for the current fiscal year.

Microchip Technology Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, December 6th. Stockholders of record on Friday, November 22nd were paid a dividend of $0.455 per share. This represents a $1.82 dividend on an annualized basis and a dividend yield of 3.30%. This is a positive change from Microchip Technology’s previous quarterly dividend of $0.45. The ex-dividend date was Friday, November 22nd. Microchip Technology’s dividend payout ratio (DPR) is presently 127.27%.

Analyst Ratings Changes

MCHP has been the topic of a number of recent research reports. Bank of America lowered Microchip Technology from a “neutral” rating to an “underperform” rating and lowered their target price for the stock from $80.00 to $65.00 in a research note on Monday, December 16th. Stifel Nicolaus dropped their target price on Microchip Technology from $90.00 to $87.00 and set a “buy” rating for the company in a report on Tuesday, December 3rd. Evercore ISI restated an “outperform” rating and issued a $95.00 price target (down from $101.00) on shares of Microchip Technology in a research note on Wednesday, November 6th. TD Cowen dropped their price objective on shares of Microchip Technology from $80.00 to $70.00 and set a “hold” rating for the company in a research note on Wednesday, November 6th. Finally, Jefferies Financial Group lowered their target price on shares of Microchip Technology from $100.00 to $90.00 and set a “buy” rating on the stock in a report on Wednesday, November 6th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and thirteen have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $84.00.

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.