Robeco Institutional Asset Management B.V. Lowers Stock Position in Microchip Technology Incorporated (NASDAQ:MCHP)

Robeco Institutional Asset Management B.V. cut its stake in shares of Microchip Technology Incorporated (NASDAQ:MCHP - Free Report) by 24.3% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 68,729 shares of the semiconductor company's stock after selling 22,058 shares during the quarter. Robeco Institutional Asset Management B.V.'s holdings in Microchip Technology were worth $3,327,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also bought and sold shares of the company. Mainstream Capital Management LLC purchased a new position in shares of Microchip Technology during the 4th quarter valued at about $26,000. Rakuten Securities Inc. grew its position in Microchip Technology by 309.5% during the fourth quarter. Rakuten Securities Inc. now owns 475 shares of the semiconductor company's stock valued at $27,000 after acquiring an additional 359 shares during the last quarter. OFI Invest Asset Management purchased a new position in shares of Microchip Technology during the fourth quarter worth approximately $29,000. Garde Capital Inc. purchased a new position in shares of Microchip Technology during the first quarter worth approximately $30,000. Finally, Kohmann Bosshard Financial Services LLC bought a new stake in shares of Microchip Technology in the 4th quarter worth approximately $34,000. Hedge funds and other institutional investors own 91.51% of the company's stock.

Analysts Set New Price Targets

Several equities analysts recently commented on MCHP shares. Raymond James Financial increased their target price on shares of Microchip Technology from $60.00 to $65.00 and gave the company a "strong-buy" rating in a report on Friday, May 9th. Stifel Nicolaus upped their price target on shares of Microchip Technology from $60.00 to $70.00 and gave the company a "buy" rating in a research report on Friday, May 9th. Evercore ISI raised their price objective on Microchip Technology from $69.00 to $83.00 and gave the company an "outperform" rating in a research note on Thursday, June 12th. Bank of America upgraded Microchip Technology from an "underperform" rating to a "neutral" rating and set a $56.00 price objective on the stock in a report on Friday, May 9th. Finally, UBS Group boosted their target price on Microchip Technology from $60.00 to $65.00 and gave the company a "buy" rating in a research note on Friday, May 30th. Seven 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's stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $70.15.

Microchip Technology Trading Down 1.1%

NASDAQ MCHP traded down $0.84 on Thursday, hitting $72.32. The company's stock had a trading volume of 3,810,846 shares, compared to its average volume of 8,886,424. The firm has a market cap of $39.01 billion, a P/E ratio of -7,232.00, a PEG ratio of 2.18 and a beta of 1.52. Microchip Technology Incorporated has a 52-week low of $34.13 and a 52-week high of $96.98. The company's 50-day simple moving average is $60.60 and its 200 day simple moving average is $55.56. The company has a current ratio of 2.59, a quick ratio of 1.47 and a debt-to-equity ratio of 0.80.

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

Microchip Technology Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, June 5th. Stockholders of record on Thursday, May 22nd were given a $0.455 dividend. The ex-dividend date of this dividend was Thursday, May 22nd. This represents a $1.82 annualized dividend and a dividend yield of 2.52%. Microchip Technology's dividend payout ratio is -18,200.00%.

Insider Transactions at Microchip Technology

In other Microchip Technology news, CFO James Eric Bjornholt sold 2,015 shares of the firm's 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 completion of the sale, the chief financial officer directly owned 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 sale was disclosed in a filing with the SEC, which is available at this link. Also, Director Karlton D. Johnson sold 494 shares of the company's stock in a transaction that occurred 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 transaction, the director owned 3,468 shares in the company, valued at $210,472.92. This trade represents a 12.47% decrease in their position. The disclosure for this sale can be found here. Insiders own 2.10% of the company's stock.

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.