Microchip Technology Incorporated (NASDAQ:MCHP) Shares Sold by Bank Julius Baer & Co. Ltd Zurich

Bank Julius Baer & Co. Ltd Zurich reduced its position in shares of Microchip Technology Incorporated (NASDAQ:MCHP - Free Report) by 66.3% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 5,160 shares of the semiconductor company's stock after selling 10,130 shares during the period. Bank Julius Baer & Co. Ltd Zurich's holdings in Microchip Technology were worth $250,000 at the end of the most recent quarter.

Other large investors also recently made changes to their positions in the company. Garde Capital Inc. bought a new stake in shares of Microchip Technology in the first quarter valued at approximately $30,000. Orion Capital Management LLC purchased a new stake in shares of Microchip Technology in the 4th quarter valued at $41,000. Aster Capital Management DIFC Ltd boosted its stake in shares of Microchip Technology by 399.4% in the 4th quarter. Aster Capital Management DIFC Ltd now owns 809 shares of the semiconductor company's stock valued at $46,000 after purchasing an additional 647 shares in the last quarter. Byrne Asset Management LLC purchased a new stake in shares of Microchip Technology in the 1st quarter valued at $41,000. Finally, GW&K Investment Management LLC raised its holdings in Microchip Technology by 161.0% during the 1st quarter. GW&K Investment Management LLC now owns 937 shares of the semiconductor company's stock valued at $45,000 after buying an additional 578 shares during the last quarter. 91.51% of the stock is owned by institutional investors.

Insider Activity

In other news, Director Karlton D. Johnson sold 494 shares of the company's stock in a transaction dated Tuesday, May 20th. The shares were sold at an average price of $60.69, for a total transaction of $29,980.86. Following the transaction, the director owned 3,468 shares in the company, valued at $210,472.92. This represents a 12.47% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CFO James Eric Bjornholt sold 2,015 shares of the company's stock in a transaction dated 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 approximately $1,913,979.14. This trade represents a 5.55% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 1.94% of the company's stock.

Microchip Technology Stock Up 1.7%

Shares of MCHP stock traded up $1.19 during mid-day trading on Monday, hitting $70.40. 1,734,434 shares of the stock traded hands, compared to its average volume of 10,500,285. The stock has a market cap of $37.99 billion, a P/E ratio of -7,032.30, a P/E/G ratio of 1.96 and a beta of 1.52. The stock's fifty day moving average is $67.83 and its two-hundred day moving average is $57.39. Microchip Technology Incorporated has a 52-week low of $34.13 and a 52-week high of $89.59. The company has a debt-to-equity ratio of 0.80, a current ratio of 2.59 and a quick ratio of 1.47.

Microchip Technology (NASDAQ:MCHP - Get Free Report) last released its quarterly earnings results on Thursday, May 8th. The semiconductor company reported $0.11 EPS for the quarter, beating the consensus estimate of $0.10 by $0.01. Microchip Technology had a negative net margin of 0.01% and a positive return on equity of 8.55%. The business had revenue of $970.50 million during the quarter, compared to analyst estimates of $962.86 million. During the same period in the prior year, the firm posted $0.57 earnings per share. The company's quarterly revenue was down 26.8% on a year-over-year basis. Equities analysts predict that Microchip Technology Incorporated will post 1.03 EPS for the current year.

Microchip Technology Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, June 5th. Stockholders of record on Thursday, May 22nd were issued a dividend of $0.455 per share. The ex-dividend date of this dividend was Thursday, May 22nd. This represents a $1.82 annualized dividend and a dividend yield of 2.59%. Microchip Technology's dividend payout ratio (DPR) is currently -18,200.00%.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the stock. Wall Street Zen raised shares of Microchip Technology from a "sell" rating to a "hold" rating in a research report on Friday, June 27th. KeyCorp raised their price target on shares of Microchip Technology from $70.00 to $85.00 and gave the company an "overweight" rating in a report on Tuesday, July 8th. Mizuho raised their target price on shares of Microchip Technology from $78.00 to $85.00 and gave the stock an "outperform" rating in a research note on Tuesday, July 8th. Bank of America upgraded shares of Microchip Technology from an "underperform" rating to a "neutral" rating and set a $56.00 price target on the stock in a research report on Friday, May 9th. Finally, UBS Group lifted their price objective on shares of Microchip Technology from $65.00 to $85.00 and gave the stock a "buy" rating in a research note on Monday, July 7th. Six equities research analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $75.70.

About Microchip Technology

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.