J. Safra Sarasin Holding AG Sells 353,864 Shares of Microchip Technology Incorporated (NASDAQ:MCHP)

J. Safra Sarasin Holding AG cut its stake in Microchip Technology Incorporated (NASDAQ:MCHP - Free Report) by 48.9% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 370,189 shares of the semiconductor company's stock after selling 353,864 shares during the period. J. Safra Sarasin Holding AG owned approximately 0.07% of Microchip Technology worth $21,230,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of the company. Federated Hermes Inc. lifted its position in shares of Microchip Technology by 0.5% during the 4th quarter. Federated Hermes Inc. now owns 39,298 shares of the semiconductor company's stock worth $2,254,000 after buying an additional 209 shares during the last quarter. Lebenthal Global Advisors LLC lifted its holdings in Microchip Technology by 7.3% in the fourth quarter. Lebenthal Global Advisors LLC now owns 3,894 shares of the semiconductor company's stock valued at $223,000 after buying an additional 266 shares during the period. CreativeOne Wealth LLC increased its holdings in Microchip Technology by 1.0% in the fourth quarter. CreativeOne Wealth LLC now owns 28,842 shares of the semiconductor company's stock worth $1,654,000 after purchasing an additional 283 shares in the last quarter. Elmwood Wealth Management Inc. boosted its stake in Microchip Technology by 1.5% during the fourth quarter. Elmwood Wealth Management Inc. now owns 20,558 shares of the semiconductor company's stock worth $1,179,000 after acquiring an additional 300 shares in the last quarter. Finally, Legacy Financial Advisors Inc. increased its position in Microchip Technology by 8.1% in the 4th quarter. Legacy Financial Advisors Inc. now owns 4,176 shares of the semiconductor company's stock valued at $239,000 after buying an additional 312 shares in the last quarter. 91.51% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research analysts have weighed in on the stock. Raymond James reaffirmed a "strong-buy" rating and issued a $60.00 price objective (down from $95.00) on shares of Microchip Technology in a research note on Friday, February 7th. Stifel Nicolaus lowered their price objective on shares of Microchip Technology from $80.00 to $60.00 and set a "buy" rating on the stock in a research report on Thursday, April 17th. B. Riley reissued a "buy" rating and issued a $75.00 price objective (down previously from $85.00) on shares of Microchip Technology in a report on Friday, February 7th. TD Cowen increased their target price on Microchip Technology from $50.00 to $60.00 and gave the stock a "hold" rating in a research report on Tuesday, March 4th. Finally, Mizuho boosted their price objective on shares of Microchip Technology from $58.00 to $68.00 and gave the company an "outperform" rating in a research note on Tuesday, March 4th. Two research analysts have rated the stock with a sell rating, four have issued a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, Microchip Technology currently has a consensus rating of "Moderate Buy" and an average price target of $69.32.

Microchip Technology Trading Down 0.5 %

Shares of Microchip Technology stock traded down $0.23 during trading on Friday, reaching $46.89. 7,677,163 shares of the stock were exchanged, compared to its average volume of 8,224,269. Microchip Technology Incorporated has a 1 year low of $34.13 and a 1 year high of $100.57. 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 stock's fifty day moving average is $49.48 and its 200 day moving average is $58.56. The firm has a market cap of $25.22 billion, a price-to-earnings ratio of 83.73 and a beta of 1.51.

Microchip Technology (NASDAQ:MCHP - Get Free Report) last announced its quarterly earnings results on Thursday, February 6th. The semiconductor company reported $0.13 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.28 by ($0.15). Microchip Technology had a net margin of 6.49% and a return on equity of 12.62%. As a group, equities research analysts expect that Microchip Technology Incorporated will post 1.03 earnings per share for the current fiscal year.

Microchip Technology Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, March 7th. Shareholders of record on Monday, February 24th were paid a dividend of $0.455 per share. This represents a $1.82 dividend on an annualized basis and a dividend yield of 3.88%. The ex-dividend date of this dividend was Monday, February 24th. Microchip Technology's dividend payout ratio is 325.00%.

Insiders Place Their Bets

In other Microchip Technology news, CFO James Eric Bjornholt sold 3,724 shares of the business's stock in a transaction dated Tuesday, February 25th. The stock was sold at an average price of $60.88, for a total value of $226,717.12. Following the completion of the transaction, the chief financial officer now owns 33,272 shares of the company's stock, valued at approximately $2,025,599.36. The trade was a 10.07 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 2.10% of the company's stock.

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.