Mn Services Vermogensbeheer B.V. Reduces Stock Holdings in Microchip Technology Incorporated (NASDAQ:MCHP)

Mn Services Vermogensbeheer B.V. decreased its holdings in shares of Microchip Technology Incorporated (NASDAQ:MCHP - Free Report) by 7.2% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 195,700 shares of the semiconductor company's stock after selling 15,200 shares during the period. Mn Services Vermogensbeheer B.V.'s holdings in Microchip Technology were worth $9,474,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Federated Hermes Inc. boosted its position in shares of Microchip Technology by 0.5% during the fourth quarter. Federated Hermes Inc. now owns 39,298 shares of the semiconductor company's stock worth $2,254,000 after acquiring an additional 209 shares during the last quarter. Northwest Bank & Trust Co increased its holdings in shares of Microchip Technology by 3.0% in the fourth quarter. Northwest Bank & Trust Co now owns 7,392 shares of the semiconductor company's stock worth $424,000 after purchasing an additional 217 shares during the last quarter. State of Wyoming boosted its stake in Microchip Technology by 27.3% during the fourth quarter. State of Wyoming now owns 1,300 shares of the semiconductor company's stock valued at $75,000 after buying an additional 279 shares during the last quarter. CreativeOne Wealth LLC grew its holdings in Microchip Technology by 1.0% during the 4th quarter. CreativeOne Wealth LLC now owns 28,842 shares of the semiconductor company's stock valued at $1,654,000 after buying an additional 283 shares in the last quarter. Finally, B. Riley Wealth Advisors Inc. increased its stake in Microchip Technology by 4.7% in the 4th quarter. B. Riley Wealth Advisors Inc. now owns 6,859 shares of the semiconductor company's stock worth $393,000 after acquiring an additional 305 shares during the last quarter. Hedge funds and other institutional investors own 91.51% of the company's stock.

Insider Buying and Selling

In related news, CFO James Eric Bjornholt sold 2,015 shares of the business's stock in a transaction that occurred 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 transaction, the chief financial officer now owns 34,313 shares of the company's stock, valued at $1,913,979.14. The trade was a 5.55% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Karlton D. Johnson sold 494 shares of the company's stock in a transaction on Tuesday, May 20th. The stock was sold at an average price of $60.69, for a total value of $29,980.86. Following the sale, the director now owns 3,468 shares of the company's stock, valued at $210,472.92. This trade represents a 12.47% decrease in their ownership of the stock. The disclosure for this sale can be found here. 2.10% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on the stock. Mizuho upped their price target on shares of Microchip Technology from $68.00 to $78.00 and gave the company an "outperform" rating in a research note on Thursday, June 12th. Cantor Fitzgerald began coverage on Microchip Technology in a research note on Wednesday. They set a "neutral" rating and a $70.00 price objective on the stock. Citigroup upped their price objective on Microchip Technology from $55.00 to $68.00 and gave the company a "buy" rating in a research report on Monday, June 9th. Evercore ISI lifted their target price on Microchip Technology from $69.00 to $83.00 and gave the stock an "outperform" rating in a report on Thursday, June 12th. Finally, Rosenblatt Securities boosted their target price on Microchip Technology from $63.00 to $70.00 and gave the company a "buy" rating in a research report on Friday, May 30th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $70.15.

Microchip Technology Trading Up 1.5%

Shares of NASDAQ:MCHP traded up $0.99 during trading on Friday, reaching $69.01. 6,700,009 shares of the company were exchanged, compared to its average volume of 8,817,336. The business's fifty day simple moving average is $54.94 and its 200-day simple moving average is $54.98. 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 Incorporated has a 12-month low of $34.13 and a 12-month high of $96.98. The firm has a market capitalization of $37.22 billion, a PE ratio of -6,887.20, a P/E/G ratio of 2.02 and a beta of 1.48.

Microchip Technology (NASDAQ:MCHP - Get Free Report) last announced its quarterly earnings data on Thursday, May 8th. The semiconductor company reported $0.11 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.10 by $0.01. Microchip Technology had a positive return on equity of 8.55% and a negative net margin of 0.01%. The company had revenue of $970.50 million for the quarter, compared to analysts' expectations of $962.86 million. During the same quarter in the prior year, the firm earned $0.57 earnings per share. Microchip Technology's revenue was down 26.8% compared to the same quarter last year. On average, research analysts anticipate that Microchip Technology Incorporated will post 1.03 EPS for the current year.

Microchip Technology Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, June 5th. Investors of record on Thursday, May 22nd were issued a $0.455 dividend. The ex-dividend date was Thursday, May 22nd. This represents a $1.82 annualized dividend and a dividend yield of 2.64%. Microchip Technology's payout ratio is currently -18,200.00%.

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.