Universal Beteiligungs und Servicegesellschaft mbH Raises Stock Position in Microchip Technology Incorporated (NASDAQ:MCHP)

Universal Beteiligungs und Servicegesellschaft mbH grew its position in Microchip Technology Incorporated (NASDAQ:MCHP - Free Report) by 11.6% during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 470,426 shares of the semiconductor company's stock after buying an additional 48,895 shares during the period. Universal Beteiligungs und Servicegesellschaft mbH owned 0.09% of Microchip Technology worth $22,773,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of MCHP. Invesco Ltd. boosted its stake in Microchip Technology by 9.5% in the 4th quarter. Invesco Ltd. now owns 10,247,908 shares of the semiconductor company's stock worth $587,718,000 after purchasing an additional 890,819 shares in the last quarter. Norges Bank acquired a new stake in Microchip Technology in the 4th quarter worth approximately $452,627,000. FIL Ltd boosted its stake in Microchip Technology by 9.0% in the 4th quarter. FIL Ltd now owns 7,877,482 shares of the semiconductor company's stock worth $451,774,000 after purchasing an additional 653,705 shares in the last quarter. Northern Trust Corp boosted its stake in Microchip Technology by 4.7% in the 4th quarter. Northern Trust Corp now owns 6,958,502 shares of the semiconductor company's stock worth $399,070,000 after purchasing an additional 311,796 shares in the last quarter. Finally, Franklin Resources Inc. boosted its stake in Microchip Technology by 90.0% in the 4th quarter. Franklin Resources Inc. now owns 6,360,805 shares of the semiconductor company's stock worth $364,792,000 after purchasing an additional 3,013,162 shares in the last quarter. 91.51% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

MCHP has been the subject of a number of recent analyst reports. Mizuho lifted 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. Truist Financial lifted their target price on shares of Microchip Technology from $52.00 to $64.00 and gave the stock a "hold" rating in a research note on Wednesday, June 18th. UBS Group lifted their price objective on shares of Microchip Technology from $65.00 to $85.00 and gave the company a "buy" rating in a research note on Monday, July 7th. Citigroup lifted their price objective on shares of Microchip Technology from $68.00 to $90.00 and gave the company a "buy" rating in a research note on Monday, July 7th. Finally, Morgan Stanley lifted their price objective on shares of Microchip Technology from $39.00 to $50.00 and gave the company an "equal weight" rating in a research note on Friday, May 9th. Six research analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, Microchip Technology presently has a consensus rating of "Moderate Buy" and a consensus target price of $75.70.

Microchip Technology Stock Performance

Shares of NASDAQ:MCHP traded up $1.40 during trading on Friday, hitting $69.21. 8,352,945 shares of the stock traded hands, compared to its average volume of 7,450,901. The company has a quick ratio of 1.47, a current ratio of 2.59 and a debt-to-equity ratio of 0.80. The company has a market cap of $37.35 billion, a price-to-earnings ratio of -6,921.00, a P/E/G ratio of 1.92 and a beta of 1.52. The company has a fifty day moving average price of $67.83 and a two-hundred day moving average price of $57.38. Microchip Technology Incorporated has a 52-week low of $34.13 and a 52-week high of $89.59.

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

Microchip Technology Announces Dividend

The company also recently announced 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. This represents a $1.82 annualized dividend and a dividend yield of 2.63%. The ex-dividend date of this dividend was Thursday, May 22nd. Microchip Technology's dividend payout ratio (DPR) is -18,200.00%.

Insider Buying and Selling at Microchip Technology

In related news, 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 value of $112,396.70. Following the completion of the sale, the chief financial officer owned 34,313 shares of the company's stock, valued at approximately $1,913,979.14. The trade was a 5.55% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Karlton D. Johnson sold 494 shares of the business's stock in a transaction on Tuesday, May 20th. The stock was sold at an average price of $60.69, for a total transaction of $29,980.86. Following the completion of the sale, the director directly owned 3,468 shares of the company's stock, valued at approximately $210,472.92. The trade was a 12.47% decrease in their position. The disclosure for this sale can be found here. 1.94% of the stock is currently owned by insiders.

Microchip Technology 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.