Leonteq Securities AG lessened its holdings in shares of Microchip Technology Incorporated (NASDAQ:MCHP – Free Report) by 57.1% during the 1st quarter, Holdings Channel.com reports. The fund owned 6,606 shares of the semiconductor company’s stock after selling 8,791 shares during the period. Leonteq Securities AG’s holdings in Microchip Technology were worth $427,000 as of its most recent SEC filing.
Other institutional investors have also recently added to or reduced their stakes in the company. Norges Bank purchased a new stake in shares of Microchip Technology during the 4th quarter worth approximately $664,564,000. Barclays PLC raised its stake in Microchip Technology by 66.5% during the 4th quarter. Barclays PLC now owns 13,996,883 shares of the semiconductor company’s stock worth $891,881,000 after acquiring an additional 5,590,210 shares in the last quarter. Barrow Hanley Mewhinney & Strauss LLC lifted its position in Microchip Technology by 25.7% in the third quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 11,048,057 shares of the semiconductor company’s stock valued at $709,506,000 after acquiring an additional 2,257,932 shares during the last quarter. Holocene Advisors LP boosted its stake in Microchip Technology by 77.0% in the third quarter. Holocene Advisors LP now owns 4,709,538 shares of the semiconductor company’s stock valued at $302,447,000 after acquiring an additional 2,049,249 shares in the last quarter. Finally, Rafferty Asset Management LLC boosted its stake in Microchip Technology by 41.0% in the second quarter. Rafferty Asset Management LLC now owns 6,203,762 shares of the semiconductor company’s stock valued at $436,559,000 after acquiring an additional 1,803,945 shares in the last quarter. Hedge funds and other institutional investors own 91.51% of the company’s stock.
Microchip Technology Price Performance
MCHP stock opened at $84.64 on Monday. The stock has a market capitalization of $45.88 billion, a PE ratio of 403.07, a price-to-earnings-growth ratio of 0.87 and a beta of 1.74. The company has a fifty day moving average of $93.79 and a 200-day moving average of $79.15. The company has a debt-to-equity ratio of 0.85, a quick ratio of 1.18 and a current ratio of 2.09. Microchip Technology Incorporated has a one year low of $48.52 and a one year high of $105.91.
Microchip Technology Dividend Announcement
The firm also recently announced a quarterly dividend, which was paid on Friday, June 5th. Shareholders of record on Friday, May 22nd were given a dividend of $0.455 per share. The ex-dividend date was Friday, May 22nd. This represents a $1.82 annualized dividend and a yield of 2.2%. Microchip Technology’s payout ratio is presently 866.67%.
Insiders Place Their Bets
In related news, COO Richard J. Simoncic sold 5,000 shares of Microchip Technology stock in a transaction that occurred on Thursday, June 4th. The stock was sold at an average price of $97.52, for a total value of $487,600.00. Following the sale, the chief operating officer directly owned 130,508 shares in the company, valued at $12,727,140.16. The trade was a 3.69% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CFO James Eric Bjornholt sold 3,667 shares of the stock in a transaction on Friday, May 22nd. The stock was sold at an average price of $90.87, for a total value of $333,220.29. Following the completion of the transaction, the chief financial officer owned 28,573 shares of the company’s stock, valued at $2,596,428.51. The trade was a 11.37% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders sold 553,302 shares of company stock valued at $49,673,635. Corporate insiders own 1.94% of the company’s stock.
Analyst Ratings Changes
MCHP has been the topic of a number of research analyst reports. Rosenblatt Securities lifted their target price on Microchip Technology from $115.00 to $120.00 and gave the stock a “buy” rating in a research report on Friday, May 8th. Zacks Research upgraded Microchip Technology from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, May 12th. Weiss Ratings upgraded Microchip Technology from a “hold (c-)” rating to a “hold (c)” rating in a research note on Thursday, June 4th. Needham & Company LLC increased their price objective on Microchip Technology from $84.00 to $120.00 and gave the company a “buy” rating in a report on Friday, May 8th. Finally, Wall Street Zen upgraded shares of Microchip Technology from a “hold” rating to a “buy” rating in a research report on Saturday, May 9th. Four equities research analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating and seven have given a Hold rating to the stock. According to data from MarketBeat, Microchip Technology currently has an average rating of “Moderate Buy” and an average target price of $98.18.
Read Our Latest Stock Analysis on MCHP
Microchip Technology Company Profile
Microchip Technology Inc is a semiconductor company headquartered in Chandler, Arizona, that designs, develops and supplies a broad portfolio of embedded control and analog semiconductors. Its product lineup centers on microcontrollers (including the well-known PIC family), digital signal controllers and associated development tools and software, along with a range of mixed-signal and analog devices, nonvolatile memory, power management, timing, interface, wireless and security products. The company also provides integrated hardware and software solutions intended to simplify embedded design and accelerate time to market for OEMs and contract manufacturers.
Microchip’s products are used across a wide range of end markets, including automotive, industrial automation, consumer electronics, communications, aerospace and defense, and Internet of Things (IoT) applications.
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