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

Bank Julius Baer & Co. Ltd Zurich boosted its position in shares of Microchip Technology Incorporated (NASDAQ:MCHP) by 6.5% during the 4th quarter, HoldingsChannel reports. The firm owned 728,331 shares of the semiconductor company’s stock after buying an additional 44,358 shares during the quarter. Bank Julius Baer & Co. Ltd Zurich’s holdings in Microchip Technology were worth $65,681,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. OFI Invest Asset Management purchased a new position in shares of Microchip Technology during the 3rd quarter valued at $26,000. BKM Wealth Management LLC purchased a new position in shares of Microchip Technology during the 4th quarter valued at $27,000. Rakuten Securities Inc. purchased a new position in shares of Microchip Technology during the 4th quarter valued at $27,000. Fortitude Family Office LLC purchased a new position in shares of Microchip Technology during the 4th quarter valued at $29,000. Finally, Milestone Investment Advisors LLC purchased a new position in shares of Microchip Technology during the 3rd quarter valued at $36,000. 91.51% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research firms recently issued reports on MCHP. Susquehanna reaffirmed a “positive” rating and issued a $100.00 price objective on shares of Microchip Technology in a research note on Monday, April 8th. TD Cowen lifted their price objective on shares of Microchip Technology from $75.00 to $80.00 and gave the company a “market perform” rating in a research note on Friday, February 2nd. StockNews.com lowered shares of Microchip Technology from a “buy” rating to a “hold” rating in a research note on Friday, December 29th. Rosenblatt Securities reaffirmed a “buy” rating and issued a $100.00 price objective on shares of Microchip Technology in a research note on Tuesday, January 30th. Finally, Truist Financial reduced their price objective on shares of Microchip Technology from $97.00 to $93.00 and set a “buy” rating for the company in a research note on Tuesday, January 9th. Six equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $92.50.

Microchip Technology Stock Performance

MCHP stock traded up $1.53 during mid-day trading on Thursday, reaching $92.21. 6,236,298 shares of the stock traded hands, compared to its average volume of 5,558,727. The company has a quick ratio of 0.58, a current ratio of 0.98 and a debt-to-equity ratio of 0.57. The business has a 50-day moving average of $86.81 and a two-hundred day moving average of $84.50. Microchip Technology Incorporated has a 52 week low of $68.75 and a 52 week high of $94.30. The firm has a market capitalization of $49.83 billion, a PE ratio of 21.19, a P/E/G ratio of 2.63 and a beta of 1.65.

Microchip Technology (NASDAQ:MCHP) last released its earnings results on Thursday, February 1st. The semiconductor company reported $1.08 earnings per share for the quarter, beating the consensus estimate of $1.04 by $0.04. Microchip Technology had a net margin of 27.59% and a return on equity of 45.59%. The business had revenue of $1.77 billion during the quarter, compared to analysts’ expectations of $1.77 billion. During the same quarter last year, the company earned $1.48 earnings per share. The firm’s revenue was down 18.6% on a year-over-year basis. As a group, equities analysts predict that Microchip Technology Incorporated will post 4.64 EPS for the current fiscal year.

Microchip Technology Increases Dividend

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

Insider Activity at Microchip Technology

In related news, CFO James Eric Bjornholt sold 1,970 shares of the stock in a transaction dated Friday, February 23rd. The shares were sold at an average price of $83.90, for a total value of $165,283.00. Following the completion of the transaction, the chief financial officer now owns 32,893 shares of the company’s stock, valued at $2,759,722.70. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, CFO James Eric Bjornholt sold 1,970 shares of the stock in a transaction dated Friday, February 23rd. The shares were sold at an average price of $83.90, for a total value of $165,283.00. Following the completion of the transaction, the chief financial officer now owns 32,893 shares of the company’s stock, valued at $2,759,722.70. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Karlton D. Johnson sold 370 shares of the stock in a transaction dated Tuesday, February 6th. The stock was sold at an average price of $84.00, for a total transaction of $31,080.00. Following the completion of the transaction, the director now directly owns 1,789 shares of the company’s stock, valued at approximately $150,276. The disclosure for this sale can be found here. 2.07% of the stock is owned by corporate insiders.

Microchip Technology 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.