Mn Services Vermogensbeheer B.V. Increases Stock Holdings in Microchip Technology Incorporated (NASDAQ:MCHP)

Mn Services Vermogensbeheer B.V. grew its position in Microchip Technology Incorporated (NASDAQ:MCHP) by 1.7% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 210,900 shares of the semiconductor company’s stock after purchasing an additional 3,500 shares during the period. Mn Services Vermogensbeheer B.V.’s holdings in Microchip Technology were worth $12,095,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in the company. New York Life Investment Management LLC increased its position in shares of Microchip Technology by 0.8% in the fourth quarter. New York Life Investment Management LLC now owns 72,109 shares of the semiconductor company’s stock valued at $4,135,000 after buying an additional 596 shares in the last quarter. Whipplewood Advisors LLC purchased a new position in shares of Microchip Technology in the fourth quarter valued at $68,000. Richard Bernstein Advisors LLC purchased a new position in shares of Microchip Technology in the fourth quarter valued at $2,146,000. JFG Wealth Management LLC purchased a new position in shares of Microchip Technology in the fourth quarter valued at $388,000. Finally, IFP Advisors Inc increased its position in shares of Microchip Technology by 6.5% in the fourth quarter. IFP Advisors Inc now owns 5,579 shares of the semiconductor company’s stock valued at $323,000 after buying an additional 340 shares in the last quarter. Hedge funds and other institutional investors own 91.51% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts recently commented on MCHP shares. Piper Sandler reaffirmed an “overweight” rating and set a $65.00 price objective (down previously from $85.00) on shares of Microchip Technology in a research note on Friday, February 7th. B. Riley reaffirmed a “buy” rating and set a $75.00 price objective (down previously from $85.00) on shares of Microchip Technology in a research note on Friday, February 7th. Morgan Stanley decreased their price objective on Microchip Technology from $71.00 to $58.00 and set an “equal weight” rating on the stock in a research note on Tuesday, February 4th. Jefferies Financial Group decreased their price objective on Microchip Technology from $100.00 to $90.00 and set a “buy” rating on the stock in a research note on Wednesday, November 6th. Finally, Raymond James reaffirmed a “strong-buy” rating and set a $60.00 price objective (down previously from $95.00) on shares of Microchip Technology in a research note on Friday, February 7th. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $77.11.

Microchip Technology Stock Performance

Microchip Technology stock opened at $58.86 on Friday. The stock’s 50-day moving average is $56.94 and its 200-day moving average is $67.52. The company has a market cap of $31.66 billion, a price-to-earnings ratio of 105.11 and a beta of 1.50. The company has a debt-to-equity ratio of 1.12, a current ratio of 2.25 and a quick ratio of 1.23. Microchip Technology Incorporated has a 12 month low of $50.21 and a 12 month high of $100.57.

Microchip Technology (NASDAQ:MCHP) last released its quarterly earnings data on Thursday, February 6th. The semiconductor company reported $0.13 EPS for the quarter, missing analysts’ consensus estimates of $0.28 by ($0.15). Microchip Technology had a return on equity of 12.62% and a net margin of 6.49%. Equities analysts anticipate that Microchip Technology Incorporated will post 1.03 earnings per share for the current year.

Microchip Technology Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, March 7th. Investors of record on Monday, February 24th will be issued a dividend of $0.455 per share. The ex-dividend date is Monday, February 24th. This represents a $1.82 annualized dividend and a dividend yield of 3.09%. Microchip Technology’s payout ratio is currently 325.00%.

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 stock was sold at an average price of $60.88, for a total transaction of $226,717.12. Following 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 filing with the SEC, which can be accessed through this link. Company insiders own 2.10% of the company’s stock.

Microchip Technology Company 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.