KBC Group NV Has $7.33 Million Stock Holdings in Microchip Technology Incorporated (NASDAQ:MCHP)

KBC Group NV reduced its stake in shares of Microchip Technology Incorporated (NASDAQ:MCHP - Free Report) by 89.0% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 91,235 shares of the semiconductor company's stock after selling 741,249 shares during the quarter. KBC Group NV's holdings in Microchip Technology were worth $7,325,000 at the end of the most recent reporting period.

Several other institutional investors have also bought and sold shares of the stock. Pathway Financial Advisers LLC acquired a new position in shares of Microchip Technology in the 1st quarter worth $39,000. Versant Capital Management Inc lifted its position in shares of Microchip Technology by 148.8% in the 2nd quarter. Versant Capital Management Inc now owns 530 shares of the semiconductor company's stock valued at $48,000 after acquiring an additional 317 shares in the last quarter. Wolff Wiese Magana LLC grew its position in Microchip Technology by 55.2% during the 3rd quarter. Wolff Wiese Magana LLC now owns 613 shares of the semiconductor company's stock worth $49,000 after purchasing an additional 218 shares in the last quarter. TruNorth Capital Management LLC acquired a new stake in Microchip Technology during the 2nd quarter valued at $55,000. Finally, Family Firm Inc. purchased a new stake in shares of Microchip Technology in the second quarter valued at $62,000. Institutional investors and hedge funds own 91.51% of the company's stock.

Analyst Ratings Changes

Several research firms recently weighed in on MCHP. StockNews.com lowered Microchip Technology from a "hold" rating to a "sell" rating in a research report on Thursday, November 7th. Jefferies Financial Group dropped their target price on Microchip Technology from $100.00 to $90.00 and set a "buy" rating on the stock in a report on Wednesday, November 6th. Citigroup decreased their target price on shares of Microchip Technology from $92.00 to $82.00 and set a "buy" rating for the company in a research note on Wednesday, November 6th. Evercore ISI reaffirmed an "outperform" rating and issued a $95.00 target price (down from $101.00) on shares of Microchip Technology in a research report on Wednesday, November 6th. Finally, Mizuho set a $95.00 price target on Microchip Technology in a research report on Friday, October 18th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and fourteen have issued a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $92.00.

Microchip Technology Stock Performance

NASDAQ:MCHP traded down $2.74 on Friday, hitting $62.86. The company's stock had a trading volume of 9,280,916 shares, compared to its average volume of 6,049,709. 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 stock has a fifty day moving average of $75.65 and a two-hundred day moving average of $84.06. Microchip Technology Incorporated has a one year low of $62.63 and a one year high of $100.57. The firm has a market capitalization of $33.76 billion, a P/E ratio of 43.96 and a beta of 1.53.

Microchip Technology (NASDAQ:MCHP - Get Free Report) last issued its earnings results on Tuesday, November 5th. The semiconductor company reported $0.46 EPS for the quarter, beating the consensus estimate of $0.43 by $0.03. Microchip Technology had a net margin of 14.22% and a return on equity of 19.47%. The company had revenue of $1.16 billion during the quarter, compared to analysts' expectations of $1.15 billion. During the same period in the previous year, the company earned $1.54 EPS. The business's revenue for the quarter was down 48.4% compared to the same quarter last year. Research analysts predict that Microchip Technology Incorporated will post 1.38 earnings per share for the current year.

Microchip Technology Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, December 6th. Stockholders of record on Friday, November 22nd will be paid a $0.455 dividend. This is an increase from Microchip Technology's previous quarterly dividend of $0.45. This represents a $1.82 dividend on an annualized basis and a dividend yield of 2.90%. The ex-dividend date is Friday, November 22nd. Microchip Technology's dividend payout ratio (DPR) is presently 127.27%.

Insider Activity at Microchip Technology

In related news, CFO James Eric Bjornholt sold 2,154 shares of the stock in a transaction on Friday, August 23rd. The stock was sold at an average price of $81.50, for a total value of $175,551.00. Following the completion of the sale, the chief financial officer now directly owns 33,257 shares in the company, valued at $2,710,445.50. This represents a 6.08 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 2.10% of the stock is currently owned by insiders.

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.