Associated Banc Corp Has $2.94 Million Stock Holdings in Microchip Technology Incorporated (NASDAQ:MCHP)

Associated Banc Corp decreased its position in shares of Microchip Technology Incorporated (NASDAQ:MCHP) by 3.9% during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 51,290 shares of the semiconductor company’s stock after selling 2,056 shares during the quarter. Associated Banc Corp’s holdings in Microchip Technology were worth $2,941,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of MCHP. Intact Investment Management Inc. lifted its stake in shares of Microchip Technology by 4.9% in the 4th quarter. Intact Investment Management Inc. now owns 80,700 shares of the semiconductor company’s stock valued at $4,628,000 after purchasing an additional 3,800 shares during the period. Madison Investment Advisors LLC acquired a new position in shares of Microchip Technology in the 4th quarter valued at $78,661,000. Skandinaviska Enskilda Banken AB publ lifted its stake in shares of Microchip Technology by 0.7% in the 4th quarter. Skandinaviska Enskilda Banken AB publ now owns 109,888 shares of the semiconductor company’s stock valued at $6,272,000 after purchasing an additional 718 shares during the period. Rakuten Securities Inc. lifted its stake in shares of Microchip Technology by 309.5% in the 4th quarter. Rakuten Securities Inc. now owns 475 shares of the semiconductor company’s stock valued at $27,000 after purchasing an additional 359 shares during the period. Finally, EverSource Wealth Advisors LLC lifted its stake in shares of Microchip Technology by 55.7% in the 4th quarter. EverSource Wealth Advisors LLC now owns 2,988 shares of the semiconductor company’s stock valued at $171,000 after purchasing an additional 1,069 shares during the period. Institutional investors and hedge funds own 91.51% of the company’s stock.

Insider Activity at Microchip Technology

In related news, CFO James Eric Bjornholt sold 3,724 shares of the firm’s stock in a transaction dated Tuesday, February 25th. The shares were sold at an average price of $60.88, for a total value of $226,717.12. Following the completion of the sale, the chief financial officer now directly owns 33,272 shares in the company, valued at approximately $2,025,599.36. This trade represents a 10.07 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. 2.10% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on MCHP shares. Evercore ISI increased their price target on Microchip Technology from $65.00 to $71.00 and gave the company an “outperform” rating in a research note on Tuesday, March 4th. TD Cowen upped their price objective on shares of Microchip Technology from $50.00 to $60.00 and gave the company a “hold” rating in a research report on Tuesday, March 4th. Morgan Stanley lowered their price objective on shares of Microchip Technology from $71.00 to $58.00 and set an “equal weight” rating for the company in a research report on Tuesday, February 4th. Stifel Nicolaus lowered their price objective on shares of Microchip Technology from $90.00 to $87.00 and set a “buy” rating for the company in a research report on Tuesday, December 3rd. Finally, Piper Sandler restated an “overweight” rating and issued a $65.00 price objective (down previously from $85.00) on shares of Microchip Technology in a research report on Friday, February 7th. Two research 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 stock. Based on data from MarketBeat, Microchip Technology currently has an average rating of “Moderate Buy” and a consensus price target of $74.37.

Microchip Technology Trading Up 3.1 %

Microchip Technology stock opened at $53.50 on Friday. The firm has a 50-day moving average of $56.51 and a 200-day moving average of $65.68. Microchip Technology Incorporated has a one year low of $50.21 and a one year high of $100.57. The company has a debt-to-equity ratio of 1.12, a current ratio of 2.25 and a quick ratio of 1.23. The company has a market cap of $28.77 billion, a price-to-earnings ratio of 95.54 and a beta of 1.52.

Microchip Technology (NASDAQ:MCHP) last issued its 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%. On average, equities analysts expect that Microchip Technology Incorporated will post 1.03 earnings per share for the current fiscal year.

Microchip Technology Dividend Announcement

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 $0.455 dividend. The ex-dividend date was Monday, February 24th. This represents a $1.82 annualized dividend and a yield of 3.40%. Microchip Technology’s dividend payout ratio (DPR) is currently 325.00%.

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.