Axa S.A. Sells 121,053 Shares of Microchip Technology Incorporated (NASDAQ:MCHP)

AXA S.A. decreased its position in shares of Microchip Technology Incorporated (NASDAQ:MCHP - Free Report) by 66.9% during the fourth quarter, according to its most recent filing with the SEC. The firm owned 59,879 shares of the semiconductor company's stock after selling 121,053 shares during the period. AXA S.A.'s holdings in Microchip Technology were worth $3,434,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in the company. 1248 Management LLC purchased a new position in Microchip Technology during the fourth quarter valued at $501,000. South Plains Financial Inc. purchased a new stake in Microchip Technology in the fourth quarter worth about $167,000. Parvin Asset Management LLC purchased a new stake in Microchip Technology in the fourth quarter worth about $78,000. Schonfeld Strategic Advisors LLC boosted its position in shares of Microchip Technology by 2,089.7% in the 4th quarter. Schonfeld Strategic Advisors LLC now owns 209,733 shares of the semiconductor company's stock worth $12,028,000 after purchasing an additional 200,155 shares in the last quarter. Finally, Lido Advisors LLC grew its stake in shares of Microchip Technology by 5.5% in the 4th quarter. Lido Advisors LLC now owns 50,030 shares of the semiconductor company's stock worth $2,869,000 after buying an additional 2,613 shares during the last quarter. Institutional investors own 91.51% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on MCHP shares. Truist Financial increased their target price on Microchip Technology from $43.00 to $52.00 and gave the stock a "hold" rating in a research note on Friday. Morgan Stanley lifted their target price on shares of Microchip Technology from $39.00 to $50.00 and gave the stock an "equal weight" rating in a report on Friday. Evercore ISI increased their price target on shares of Microchip Technology from $65.00 to $71.00 and gave the company an "outperform" rating in a report on Tuesday, March 4th. StockNews.com lowered shares of Microchip Technology from a "hold" rating to a "sell" rating in a report on Monday, February 10th. Finally, Stifel Nicolaus lifted their target price on Microchip Technology from $60.00 to $70.00 and gave the stock a "buy" rating in a report on Friday. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $67.42.

Insider Activity at Microchip Technology

In other news, CFO James Eric Bjornholt sold 3,724 shares of the stock in a transaction that occurred on Tuesday, February 25th. The stock was sold at an average price of $60.88, for a total value of $226,717.12. Following the sale, the chief financial officer now directly owns 33,272 shares in the company, valued at approximately $2,025,599.36. This represents a 10.07 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 2.10% of the stock is owned by insiders.

Microchip Technology Stock Performance

NASDAQ MCHP traded up $6.19 on Friday, reaching $55.33. 21,358,016 shares of the stock were exchanged, compared to its average volume of 8,407,364. The company has a current ratio of 2.25, a quick ratio of 1.23 and a debt-to-equity ratio of 1.12. Microchip Technology Incorporated has a one year low of $34.13 and a one year high of $100.57. The firm has a market capitalization of $29.76 billion, a PE ratio of 98.80 and a beta of 1.42. The company's 50-day simple moving average is $47.06 and its two-hundred day simple moving average is $56.44.

Microchip Technology (NASDAQ:MCHP - Get Free Report) last posted its quarterly earnings results on Thursday, May 8th. The semiconductor company reported $0.11 EPS for the quarter, topping analysts' consensus estimates of $0.10 by $0.01. Microchip Technology had a return on equity of 12.62% and a net margin of 6.49%. The company had revenue of $970.50 million for the quarter, compared to analysts' expectations of $962.86 million. During the same period in the previous year, the firm earned $0.57 EPS. The firm's revenue was down 26.8% compared to the same quarter last year. Analysts expect that Microchip Technology Incorporated will post 1.03 EPS for the current fiscal year.

Microchip Technology Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, June 5th. Investors of record on Thursday, May 22nd will be issued a $0.455 dividend. This represents a $1.82 dividend on an annualized basis and a dividend yield of 3.29%. The ex-dividend date of this dividend is Thursday, May 22nd. Microchip Technology's dividend payout ratio (DPR) is presently -18,200.00%.

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.