ASR Vermogensbeheer N.V. Buys Shares of 34,338 Microchip Technology Incorporated (NASDAQ:MCHP)

Key Points

• ASR Vermogensbeheer N.V. has acquired 34,338 shares of Microchip Technology Incorporated, valued at approximately $1,662,000, marking a significant investment in the semiconductor company.
• Microchip Technology's stock has shown a remarkable price range over the past year, reaching a low of $34.13 and a high of $82.87, with a current market capitalization of $33.39 billion.
• The company recently announced a quarterly dividend of $0.455 per share, representing an annual yield of 2.9%, despite a notable dividend payout ratio of -18,200.00%.

ASR Vermogensbeheer N.V. acquired a new position in Microchip Technology Incorporated (NASDAQ:MCHP - Free Report) during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 34,338 shares of the semiconductor company's stock, valued at approximately $1,662,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Garde Capital Inc. purchased a new position in shares of Microchip Technology in the 1st quarter worth approximately $30,000. Orion Capital Management LLC bought a new position in shares of Microchip Technology during the 4th quarter worth $41,000. Byrne Asset Management LLC bought a new position in shares of Microchip Technology during the 1st quarter worth $41,000. GW&K Investment Management LLC boosted its position in Microchip Technology by 161.0% during the first quarter. GW&K Investment Management LLC now owns 937 shares of the semiconductor company's stock valued at $45,000 after purchasing an additional 578 shares in the last quarter. Finally, American National Bank & Trust purchased a new stake in shares of Microchip Technology during the first quarter valued at about $48,000. Institutional investors own 91.51% of the company's stock.

Insider Activity at Microchip Technology

In other news, Director Karlton D. Johnson sold 494 shares of the business's stock in a transaction that occurred on Tuesday, May 20th. The shares were sold at an average price of $60.69, for a total value of $29,980.86. Following the transaction, the director owned 3,468 shares in the company, valued at approximately $210,472.92. The trade was a 12.47% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO James Eric Bjornholt sold 2,015 shares of the business's stock in a transaction on Friday, May 23rd. The shares were sold at an average price of $55.78, for a total transaction of $112,396.70. Following the transaction, the chief financial officer owned 34,313 shares in the company, valued at $1,913,979.14. The trade was a 5.55% decrease in their position. The disclosure for this sale can be found here. 1.94% of the stock is owned by company insiders.

Microchip Technology Trading Down 1.5%

NASDAQ:MCHP traded down $0.92 during trading hours on Monday, hitting $60.95. The stock had a trading volume of 10,238,655 shares, compared to its average volume of 10,553,302. The business's 50 day moving average is $69.67 and its 200-day moving average is $58.12. The company has a debt-to-equity ratio of 0.80, a quick ratio of 1.33 and a current ratio of 2.31. Microchip Technology Incorporated has a one year low of $34.13 and a one year high of $82.87. The company has a market cap of $32.89 billion, a price-to-earnings ratio of -179.26, a P/E/G ratio of 1.79 and a beta of 1.55.

Microchip Technology (NASDAQ:MCHP - Get Free Report) last announced its quarterly earnings results on Thursday, August 7th. The semiconductor company reported $0.27 EPS for the quarter, beating analysts' consensus estimates of $0.24 by $0.03. The firm had revenue of $1.08 billion during the quarter, compared to analysts' expectations of $1.05 billion. Microchip Technology had a negative net margin of 3.50% and a positive return on equity of 6.24%. The company's revenue for the quarter was down 13.3% compared to the same quarter last year. During the same quarter last year, the company posted $0.53 earnings per share. Sell-side analysts anticipate that Microchip Technology Incorporated will post 1.03 EPS for the current fiscal year.

Microchip Technology Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 5th. Investors of record on Friday, August 22nd will be given a dividend of $0.455 per share. The ex-dividend date is Friday, August 22nd. This represents a $1.82 annualized dividend and a yield of 3.0%. Microchip Technology's dividend payout ratio (DPR) is currently -535.29%.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on MCHP shares. Mizuho increased their price target on Microchip Technology from $78.00 to $85.00 and gave the company an "outperform" rating in a research note on Tuesday, July 8th. UBS Group upped their price target on Microchip Technology from $65.00 to $85.00 and gave the stock a "buy" rating in a report on Monday, July 7th. Cantor Fitzgerald assumed coverage on Microchip Technology in a report on Wednesday, June 18th. They set a "neutral" rating and a $70.00 target price for the company. Piper Sandler upped their price target on Microchip Technology from $65.00 to $80.00 and gave the company an "overweight" rating in a research note on Friday. Finally, KeyCorp raised their price target on Microchip Technology from $70.00 to $85.00 and gave the stock an "overweight" rating in a research report on Tuesday, July 8th. Six equities research analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $76.58.

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.