Microchip Technology Incorporated (NASDAQ:MCHP) Shares Sold by Banco Bilbao Vizcaya Argentaria S.A.

Banco Bilbao Vizcaya Argentaria S.A. cut its holdings in shares of Microchip Technology Incorporated (NASDAQ:MCHP - Free Report) by 75.9% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 45,035 shares of the semiconductor company's stock after selling 142,136 shares during the period. Banco Bilbao Vizcaya Argentaria S.A.'s holdings in Microchip Technology were worth $2,582,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of MCHP. Mainstream Capital Management LLC purchased a new stake in shares of Microchip Technology in the fourth quarter valued at about $26,000. Rakuten Securities Inc. raised its stake in shares of Microchip Technology by 309.5% during the 4th quarter. Rakuten Securities Inc. now owns 475 shares of the semiconductor company's stock worth $27,000 after buying an additional 359 shares in the last quarter. OFI Invest Asset Management purchased a new stake in shares of Microchip Technology in the fourth quarter valued at approximately $29,000. Financial Life Planners acquired a new position in Microchip Technology during the fourth quarter worth $32,000. Finally, Kohmann Bosshard Financial Services LLC purchased a new position in Microchip Technology in the fourth quarter worth $34,000. Institutional investors and hedge funds own 91.51% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on MCHP shares. Mizuho upped their price target on shares of Microchip Technology from $58.00 to $68.00 and gave the stock an "outperform" rating in a research note on Tuesday, March 4th. Stifel Nicolaus lowered their target price on shares of Microchip Technology from $80.00 to $60.00 and set a "buy" rating on the stock in a research report on Thursday, April 17th. Citigroup reduced their price target on shares of Microchip Technology from $65.00 to $50.00 and set a "buy" rating for the company in a research report on Friday, April 11th. Morgan Stanley dropped their price objective on Microchip Technology from $71.00 to $58.00 and set an "equal weight" rating for the company in a research note on Tuesday, February 4th. Finally, Piper Sandler reiterated an "overweight" rating and set a $65.00 target price (down from $85.00) on shares of Microchip Technology in a research report on Friday, February 7th. Two investment analysts have rated the stock with a sell rating, four have given a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $66.79.

Insider Transactions at Microchip Technology

In other Microchip Technology news, CFO James Eric Bjornholt sold 3,724 shares of the business's stock in a transaction dated Tuesday, February 25th. The stock was sold at an average price of $60.88, for a total transaction of $226,717.12. Following the completion of the sale, the chief financial officer now owns 33,272 shares of the company's stock, valued at approximately $2,025,599.36. The trade was a 10.07 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 2.10% of the company's stock.

Microchip Technology Trading Up 0.3 %

Shares of Microchip Technology stock traded up $0.16 during trading hours on Wednesday, reaching $46.08. 10,845,081 shares of the company's stock were exchanged, compared to its average volume of 8,249,237. Microchip Technology Incorporated has a 52-week low of $34.13 and a 52-week high of $100.57. The company has a fifty day moving average of $48.79 and a 200-day moving average of $57.99. The company has a current ratio of 2.25, a quick ratio of 1.23 and a debt-to-equity ratio of 1.12. The firm has a market capitalization of $24.78 billion, a price-to-earnings ratio of 82.29 and a beta of 1.51.

Microchip Technology (NASDAQ:MCHP - Get Free Report) last issued its quarterly earnings results on Thursday, February 6th. The semiconductor company reported $0.13 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.28 by ($0.15). Microchip Technology had a return on equity of 12.62% and a net margin of 6.49%. Sell-side analysts forecast that Microchip Technology Incorporated will post 1.03 EPS for the current fiscal year.

Microchip Technology Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 7th. Stockholders of record on Monday, February 24th were paid a dividend of $0.455 per share. The ex-dividend date of this dividend was Monday, February 24th. This represents a $1.82 annualized dividend and a dividend yield of 3.95%. Microchip Technology's dividend payout ratio is presently 325.00%.

Microchip Technology Company 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.