Microchip Technology Incorporated (NASDAQ:MCHP) Shares Purchased by Bank Julius Baer & Co. Ltd Zurich

Bank Julius Baer & Co. Ltd Zurich increased its stake in shares of Microchip Technology Incorporated (NASDAQ:MCHP) by 6.5% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 728,331 shares of the semiconductor company’s stock after purchasing an additional 44,358 shares during the quarter. Bank Julius Baer & Co. Ltd Zurich owned 0.13% of Microchip Technology worth $65,681,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Syon Capital LLC grew its stake in Microchip Technology by 45.6% during the 4th quarter. Syon Capital LLC now owns 5,757 shares of the semiconductor company’s stock worth $519,000 after purchasing an additional 1,803 shares in the last quarter. Tokio Marine Asset Management Co. Ltd. boosted its position in shares of Microchip Technology by 3.2% during the 4th quarter. Tokio Marine Asset Management Co. Ltd. now owns 12,194 shares of the semiconductor company’s stock worth $1,100,000 after acquiring an additional 380 shares in the last quarter. Bfsg LLC acquired a new position in shares of Microchip Technology during the 4th quarter worth about $45,000. Harvest Fund Management Co. Ltd boosted its position in shares of Microchip Technology by 31.4% during the 4th quarter. Harvest Fund Management Co. Ltd now owns 7,302 shares of the semiconductor company’s stock worth $658,000 after acquiring an additional 1,747 shares in the last quarter. Finally, South Dakota Investment Council boosted its position in shares of Microchip Technology by 24.4% during the 4th quarter. South Dakota Investment Council now owns 29,019 shares of the semiconductor company’s stock worth $2,617,000 after acquiring an additional 5,700 shares in the last quarter. 91.51% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

MCHP has been the subject of several analyst reports. Stifel Nicolaus upped their price objective on Microchip Technology from $94.00 to $98.00 and gave the stock a “buy” rating in a research report on Thursday, April 18th. StockNews.com cut Microchip Technology from a “buy” rating to a “hold” rating in a research report on Friday, December 29th. UBS Group lowered their price objective on Microchip Technology from $105.00 to $95.00 and set a “buy” rating for the company in a research report on Friday, February 2nd. Piper Sandler downgraded Microchip Technology from an “overweight” rating to a “neutral” rating and set a $80.00 target price for the company. in a report on Thursday, January 4th. Finally, Wolfe Research raised Microchip Technology from a “peer perform” rating to an “outperform” rating and set a $105.00 target price for the company in a report on Thursday, January 18th. Six research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $92.50.

Microchip Technology Stock Performance

NASDAQ MCHP traded up $1.53 on Thursday, hitting $92.21. 6,236,298 shares of the company’s stock were exchanged, compared to its average volume of 5,558,727. The firm has a market cap of $49.83 billion, a price-to-earnings ratio of 21.19, a P/E/G ratio of 2.63 and a beta of 1.65. The company has a debt-to-equity ratio of 0.57, a current ratio of 0.98 and a quick ratio of 0.58. The firm’s 50-day moving average price is $86.81 and its two-hundred day moving average price is $84.50. Microchip Technology Incorporated has a fifty-two week low of $68.75 and a fifty-two week high of $94.30.

Microchip Technology (NASDAQ:MCHP) last released its quarterly earnings results on Thursday, February 1st. The semiconductor company reported $1.08 earnings per share for the quarter, topping analysts’ consensus estimates of $1.04 by $0.04. The business had revenue of $1.77 billion for the quarter, compared to analysts’ expectations of $1.77 billion. Microchip Technology had a return on equity of 45.59% and a net margin of 27.59%. The company’s revenue was down 18.6% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.48 EPS. On average, research analysts expect that Microchip Technology Incorporated will post 4.64 EPS for the current year.

Microchip Technology Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 8th. Investors of record on Friday, February 23rd were issued a $0.45 dividend. The ex-dividend date was Thursday, February 22nd. This represents a $1.80 dividend on an annualized basis and a dividend yield of 1.95%. This is a boost from Microchip Technology’s previous quarterly dividend of $0.44. Microchip Technology’s dividend payout ratio is currently 42.06%.

Insider Buying and Selling

In related news, Director Karlton D. Johnson sold 370 shares of the company’s stock in a transaction that occurred on Tuesday, February 6th. The stock was sold at an average price of $84.00, for a total value of $31,080.00. Following the sale, the director now owns 1,789 shares in the company, valued at approximately $150,276. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other Microchip Technology news, Director Karlton D. Johnson sold 370 shares of the stock in a transaction on Tuesday, February 6th. The stock was sold at an average price of $84.00, for a total transaction of $31,080.00. Following the sale, the director now owns 1,789 shares in the company, valued at approximately $150,276. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO James Eric Bjornholt sold 1,970 shares of the stock in a transaction on Friday, February 23rd. The shares were sold at an average price of $83.90, for a total value of $165,283.00. Following the sale, the chief financial officer now owns 32,893 shares in the company, valued at approximately $2,759,722.70. The disclosure for this sale can be found here. Insiders own 2.07% of the company’s stock.

Microchip Technology Company Profile

Microchip Technology Incorporated develops, manufactures, and sells 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 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.