Universal Beteiligungs und Servicegesellschaft mbH acquired a new stake in shares of Microchip Technology Incorporated (NASDAQ:MCHP - Free Report) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 421,531 shares of the semiconductor company's stock, valued at approximately $24,175,000. Universal Beteiligungs und Servicegesellschaft mbH owned about 0.08% of Microchip Technology at the end of the most recent reporting period.
A number of other large investors have also recently added to or reduced their stakes in MCHP. Vanguard Group Inc. increased its holdings in shares of Microchip Technology by 0.8% in the 4th 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 during the last quarter. Van ECK Associates Corp increased its stake in Microchip Technology by 39.3% during the fourth quarter. Van ECK Associates Corp now owns 11,093,007 shares of the semiconductor company's stock valued at $636,184,000 after purchasing an additional 3,131,807 shares during the last quarter. Invesco Ltd. increased its stake in Microchip Technology by 9.5% during the fourth quarter. Invesco Ltd. now owns 10,247,908 shares of the semiconductor company's stock valued at $587,718,000 after purchasing an additional 890,819 shares during the last quarter. Norges Bank acquired a new stake in shares of Microchip Technology during the fourth quarter worth $452,627,000. Finally, FIL Ltd lifted its position in shares of 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 buying an additional 653,705 shares during the last quarter. 91.51% of the stock is currently owned by institutional investors.
Insider Activity
In other news, Director Karlton D. Johnson sold 494 shares of Microchip Technology stock in a transaction that occurred on Tuesday, May 20th. The shares were sold at an average price of $60.69, for a total value of $29,980.86. Following the transaction, the director now owns 3,468 shares of the company's stock, valued at $210,472.92. The trade was a 12.47% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, CFO James Eric Bjornholt sold 2,015 shares of the stock in a transaction that occurred on Friday, May 23rd. The shares were sold at an average price of $55.78, for a total transaction of $112,396.70. Following the sale, the chief financial officer now directly owns 34,313 shares of the company's stock, valued at approximately $1,913,979.14. This represents a 5.55% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 2.10% of the company's stock.
Wall Street Analysts Forecast Growth
A number of equities research analysts recently weighed in on MCHP shares. Citigroup boosted their price objective on shares of Microchip Technology from $50.00 to $55.00 and gave the company a "buy" rating in a research report on Friday, May 9th. KeyCorp decreased their target price on Microchip Technology from $70.00 to $60.00 and set an "overweight" rating for the company in a research note on Friday, February 7th. Morgan Stanley increased their price target on Microchip Technology from $39.00 to $50.00 and gave the stock an "equal weight" rating in a research report on Friday, May 9th. Stifel Nicolaus raised their price target on Microchip Technology from $60.00 to $70.00 and gave the stock a "buy" rating in a report on Friday, May 9th. Finally, Mizuho upped their price objective on Microchip Technology from $58.00 to $68.00 and gave the stock an "outperform" rating in a research note on Tuesday, March 4th. One analyst has rated the stock with a sell rating, five have given a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Microchip Technology presently has a consensus rating of "Moderate Buy" and a consensus target price of $67.68.
Read Our Latest Research Report on MCHP
Microchip Technology Price Performance
Shares of MCHP stock traded up $1.01 during midday trading on Monday, reaching $59.05. 2,832,709 shares of the company were exchanged, compared to its average volume of 11,098,938. The company's 50 day moving average price is $48.55 and its two-hundred day moving average price is $54.86. The company has a market cap of $31.85 billion, a P/E ratio of 105.44 and a beta of 1.42. Microchip Technology Incorporated has a 12 month low of $34.13 and a 12 month high of $98.10. The company has a debt-to-equity ratio of 1.12, a quick ratio of 1.23 and a current ratio of 2.25.
Microchip Technology (NASDAQ:MCHP - Get Free Report) last announced its earnings results on Thursday, May 8th. The semiconductor company reported $0.11 EPS for the quarter, topping the consensus estimate of $0.10 by $0.01. The firm had revenue of $970.50 million for the quarter, compared to analysts' expectations of $962.86 million. Microchip Technology had a return on equity of 12.62% and a net margin of 6.49%. The firm's quarterly revenue was down 26.8% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.57 earnings per share. On average, sell-side analysts expect that Microchip Technology Incorporated will post 1.03 earnings per share for the current year.
Microchip Technology Announces Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, June 5th. Stockholders of record on Thursday, May 22nd will be paid a $0.455 dividend. This represents a $1.82 dividend on an annualized basis and a dividend yield of 3.08%. The ex-dividend date is Thursday, May 22nd. Microchip Technology's dividend payout ratio is presently -18,200.00%.
Microchip Technology Company Profile
(
Free Report)
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.
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