Microchip Technology Incorporated (NASDAQ:MCHP) Shares Sold by J. Safra Sarasin Holding AG

J. Safra Sarasin Holding AG lowered its position in shares of Microchip Technology Incorporated (NASDAQ:MCHP) by 48.9% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 370,189 shares of the semiconductor company’s stock after selling 353,864 shares during the quarter. J. Safra Sarasin Holding AG owned approximately 0.07% of Microchip Technology worth $21,230,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in the company. Virtu Financial LLC purchased a new position in Microchip Technology in the 3rd quarter valued at $491,000. Stock Yards Bank & Trust Co. lifted its stake in shares of Microchip Technology by 3.3% in the third quarter. Stock Yards Bank & Trust Co. now owns 11,517 shares of the semiconductor company’s stock worth $925,000 after buying an additional 368 shares in the last quarter. World Investment Advisors LLC boosted its position in Microchip Technology by 11.7% during the third quarter. World Investment Advisors LLC now owns 42,882 shares of the semiconductor company’s stock worth $3,443,000 after acquiring an additional 4,477 shares during the last quarter. Arvest Bank Trust Division purchased a new stake in Microchip Technology during the 3rd quarter valued at about $223,000. Finally, Wilmington Savings Fund Society FSB raised its holdings in Microchip Technology by 16.6% in the 3rd quarter. Wilmington Savings Fund Society FSB now owns 60,394 shares of the semiconductor company’s stock valued at $4,849,000 after acquiring an additional 8,592 shares during the last quarter. Institutional investors and hedge funds own 91.51% of the company’s stock.

Microchip Technology Stock Up 1.5 %

Microchip Technology stock opened at $38.53 on Monday. The firm has a market capitalization of $20.72 billion, a P/E ratio of 68.81 and a beta of 1.51. The stock’s fifty day simple moving average is $50.72 and its 200-day simple moving average is $59.49. Microchip Technology Incorporated has a twelve month low of $34.13 and a twelve month high of $100.57. The company has a current ratio of 2.25, a quick ratio of 1.23 and a debt-to-equity ratio of 1.12.

Microchip Technology (NASDAQ:MCHP) last announced its quarterly earnings data 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 analysts expect that Microchip Technology Incorporated will post 1.03 earnings per share for the current fiscal year.

Microchip Technology Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 7th. Investors of record on Monday, February 24th were paid a dividend of $0.455 per share. The ex-dividend date of this dividend was Monday, February 24th. This represents a $1.82 dividend on an annualized basis and a dividend yield of 4.72%. Microchip Technology’s payout ratio is currently 325.00%.

Wall Street Analysts Forecast Growth

MCHP has been the topic of a number of analyst reports. StockNews.com downgraded Microchip Technology from a “hold” rating to a “sell” rating in a research report on Monday, February 10th. KeyCorp reduced their price target on shares of Microchip Technology from $70.00 to $60.00 and set an “overweight” rating on the stock in a research report on Friday, February 7th. Citigroup cut their target price on Microchip Technology from $65.00 to $50.00 and set a “buy” rating for the company in a research note on Friday, April 11th. TD Cowen lifted their target price on Microchip Technology from $50.00 to $60.00 and gave the company a “hold” rating in a research report on Tuesday, March 4th. Finally, Raymond James reiterated a “strong-buy” rating and set a $60.00 price target (down from $95.00) on shares of Microchip Technology in a report on Friday, February 7th. Two analysts have rated the stock with a sell rating, four have issued 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 stock currently has an average rating of “Moderate Buy” and a consensus price target of $71.26.

Insider Buying and Selling at Microchip Technology

In other Microchip Technology news, CFO James Eric Bjornholt sold 3,724 shares of the firm’s stock in a transaction that occurred on Tuesday, February 25th. The shares were sold at an average price of $60.88, for a total transaction of $226,717.12. Following the sale, the chief financial officer now owns 33,272 shares of the company’s stock, valued at approximately $2,025,599.36. This trade represents a 10.07 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 2.10% of the stock is owned by insiders.

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.