Deutsche Bank AG Sells 16,009 Shares of Microchip Technology Incorporated (NASDAQ:MCHP)

Deutsche Bank AG lowered its holdings in Microchip Technology Incorporated (NASDAQ:MCHP - Free Report) by 1.1% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,451,736 shares of the semiconductor company's stock after selling 16,009 shares during the period. Deutsche Bank AG owned about 0.27% of Microchip Technology worth $83,257,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of the business. Dean Capital Management acquired a new position in Microchip Technology in the 4th quarter worth approximately $1,340,000. Crestline Management LP boosted its stake in Microchip Technology by 227.7% in the 4th quarter. Crestline Management LP now owns 65,547 shares of the semiconductor company's stock worth $3,759,000 after purchasing an additional 45,547 shares during the period. Cetera Investment Advisers grew its holdings in shares of Microchip Technology by 0.4% during the 4th quarter. Cetera Investment Advisers now owns 165,344 shares of the semiconductor company's stock valued at $9,482,000 after acquiring an additional 589 shares in the last quarter. Captrust Financial Advisors grew its holdings in shares of Microchip Technology by 3.5% during the 4th quarter. Captrust Financial Advisors now owns 166,934 shares of the semiconductor company's stock valued at $9,574,000 after acquiring an additional 5,608 shares in the last quarter. Finally, Cary Street Partners Financial LLC purchased a new position in shares of Microchip Technology during the 4th quarter valued at $109,000. Institutional investors own 91.51% of the company's stock.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on MCHP shares. Rosenblatt Securities restated a "buy" rating and set a $70.00 price target on shares of Microchip Technology in a report on Tuesday, March 4th. Evercore ISI lifted their price objective on shares of Microchip Technology from $65.00 to $71.00 and gave the company an "outperform" rating in a research note on Tuesday, March 4th. Stifel Nicolaus lifted their price objective on shares of Microchip Technology from $60.00 to $70.00 and gave the company a "buy" rating in a research note on Friday, May 9th. Citigroup boosted their target price on shares of Microchip Technology from $50.00 to $55.00 and gave the stock a "buy" rating in a research report on Friday, May 9th. Finally, KeyCorp cut their target price on shares of Microchip Technology from $70.00 to $60.00 and set an "overweight" rating for the company in a research report on Friday, February 7th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $67.42.

Microchip Technology Trading Up 0.2%

NASDAQ MCHP traded up $0.15 during trading hours on Thursday, hitting $60.80. The company's stock had a trading volume of 8,416,248 shares, compared to its average volume of 8,514,741. The stock has a fifty day moving average of $47.18 and a 200 day moving average of $56.27. The company has a quick ratio of 1.23, a current ratio of 2.25 and a debt-to-equity ratio of 1.12. The firm has a market capitalization of $32.75 billion, a P/E ratio of 108.57 and a beta of 1.42. Microchip Technology Incorporated has a twelve month low of $34.13 and a twelve month high of $100.57.

Microchip Technology (NASDAQ:MCHP - Get Free Report) last issued its quarterly earnings data 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 net margin of 6.49% and a return on equity of 12.62%. The business had revenue of $970.50 million for the quarter, compared to analyst estimates of $962.86 million. During the same period last year, the business posted $0.57 earnings per share. The firm's quarterly revenue was down 26.8% on a year-over-year basis. Equities research analysts forecast that Microchip Technology Incorporated will post 1.03 earnings per share for the current fiscal year.

Microchip Technology Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, June 5th. Shareholders of record on Thursday, May 22nd will be paid a $0.455 dividend. The ex-dividend date of this dividend is Thursday, May 22nd. This represents a $1.82 annualized dividend and a yield of 2.99%. Microchip Technology's payout ratio is currently -18,200.00%.

Insider Buying and Selling at Microchip Technology

In other news, CFO James Eric Bjornholt sold 3,724 shares of Microchip Technology stock in a transaction dated Tuesday, February 25th. The shares were sold at an average price of $60.88, for a total value of $226,717.12. Following the completion of the transaction, the chief financial officer now owns 33,272 shares of the company's stock, valued at $2,025,599.36. This trade represents a 10.07% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Company insiders own 2.10% of the company's stock.

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.