Czech National Bank Raises Position in Microchip Technology Incorporated (NASDAQ:MCHP)

Czech National Bank grew its stake in Microchip Technology Incorporated (NASDAQ:MCHP - Free Report) by 6.1% during the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 123,528 shares of the semiconductor company's stock after purchasing an additional 7,093 shares during the quarter. Czech National Bank's holdings in Microchip Technology were worth $5,980,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of MCHP. Consolidated Planning Corp bought a new position in shares of Microchip Technology during the fourth quarter valued at about $308,000. one8zero8 LLC purchased a new position in shares of Microchip Technology in the 4th quarter worth approximately $384,000. Truist Financial Corp grew its holdings in shares of Microchip Technology by 5.8% in the fourth quarter. Truist Financial Corp now owns 959,439 shares of the semiconductor company's stock valued at $55,024,000 after acquiring an additional 52,222 shares in the last quarter. Vanguard Group Inc. grew its holdings in shares of Microchip Technology by 0.8% in the fourth quarter. Vanguard Group Inc. now owns 68,912,345 shares of the semiconductor company's stock valued at $3,952,123,000 after acquiring an additional 569,699 shares in the last quarter. Finally, Franklin Resources Inc. increased its position in shares of Microchip Technology by 90.0% during the fourth quarter. Franklin Resources Inc. now owns 6,360,805 shares of the semiconductor company's stock valued at $364,792,000 after acquiring an additional 3,013,162 shares during the last quarter. Institutional investors own 91.51% of the company's stock.

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 stock was sold at an average price of $60.69, for a total value of $29,980.86. Following the completion of the transaction, the director now directly owns 3,468 shares in the company, valued at approximately $210,472.92. This represents a 12.47% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO James Eric Bjornholt sold 2,015 shares of the stock in a transaction dated Friday, May 23rd. The shares were sold at an average price of $55.78, for a total value of $112,396.70. Following the transaction, the chief financial officer now owns 34,313 shares in the company, valued at $1,913,979.14. This trade represents a 5.55% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 2.10% of the company's stock.

Microchip Technology Price Performance

NASDAQ:MCHP traded down $0.30 during trading hours on Thursday, hitting $64.37. 11,452,781 shares of the company's stock traded hands, compared to its average volume of 8,708,352. Microchip Technology Incorporated has a 52 week low of $34.13 and a 52 week high of $96.98. The business's fifty day simple moving average is $49.29 and its two-hundred day simple moving average is $54.97. 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 cap of $34.72 billion, a P/E ratio of 114.95 and a beta of 1.48.

Microchip Technology (NASDAQ:MCHP - Get Free Report) last issued its quarterly earnings results on Thursday, May 8th. The semiconductor company reported $0.11 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.10 by $0.01. The firm had revenue of $970.50 million during the quarter, compared to the consensus estimate of $962.86 million. Microchip Technology had a return on equity of 12.62% and a net margin of 6.49%. The company's revenue for the quarter was down 26.8% on a year-over-year basis. During the same quarter last year, the company posted $0.57 EPS. On average, research analysts anticipate that Microchip Technology Incorporated will post 1.03 earnings per share for the current fiscal year.

Microchip Technology Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, June 5th. Stockholders 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 2.83%. The ex-dividend date of this dividend is Thursday, May 22nd. Microchip Technology's payout ratio is -18,200.00%.

Wall Street Analyst Weigh In

Several research firms have weighed in on MCHP. TD Cowen boosted their price objective on Microchip Technology from $35.00 to $55.00 and gave the stock a "hold" rating in a research report on Friday, May 9th. B. Riley boosted their price target on shares of Microchip Technology from $60.00 to $75.00 and gave the stock a "buy" rating in a report on Friday, May 9th. KeyCorp decreased their price objective on shares of Microchip Technology from $70.00 to $60.00 and set an "overweight" rating for the company in a report on Friday, February 7th. UBS Group lifted their price objective on shares of Microchip Technology from $60.00 to $65.00 and gave the stock a "buy" rating in a research report on Friday, May 30th. Finally, Rosenblatt Securities increased their target price on shares of Microchip Technology from $63.00 to $70.00 and gave the company a "buy" rating in a research report on Friday, May 30th. One analyst has rated the stock with a sell rating, five have assigned a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, Microchip Technology presently has a consensus rating of "Moderate Buy" and an average target price of $67.68.

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.