Microchip Technology Incorporated (NASDAQ:MCHP) Stock Holdings Trimmed by Pensioenfonds Rail & OV

Pensioenfonds Rail & OV lowered its stake in shares of Microchip Technology Incorporated (NASDAQ:MCHP) by 18.7% during the first quarter, HoldingsChannel.com reports. The firm owned 510,579 shares of the semiconductor company’s stock after selling 117,336 shares during the period. Microchip Technology comprises approximately 3.3% of Pensioenfonds Rail & OV’s holdings, making the stock its 2nd biggest holding. Pensioenfonds Rail & OV’s holdings in Microchip Technology were worth $45,804,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors also recently bought and sold shares of MCHP. BKM Wealth Management LLC purchased a new position in Microchip Technology during the fourth quarter worth approximately $27,000. Rakuten Securities Inc. acquired a new stake in shares of Microchip Technology in the fourth quarter worth $27,000. Rise Advisors LLC acquired a new stake in shares of Microchip Technology in the first quarter worth $28,000. Fortitude Family Office LLC acquired a new stake in shares of Microchip Technology in the fourth quarter worth $29,000. Finally, Pineridge Advisors LLC acquired a new stake in shares of Microchip Technology in the fourth quarter worth $33,000. Hedge funds and other institutional investors own 91.51% of the company’s stock.

Insider Buying and Selling

In related news, VP Stephen V. Drehobl sold 7,830 shares of the firm’s stock in a transaction that occurred on Thursday, May 16th. The shares were sold at an average price of $95.06, for a total transaction of $744,319.80. Following the completion of the sale, the vice president now directly owns 79,509 shares in the company, valued at $7,558,125.54. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In related news, VP Stephen V. Drehobl sold 10,000 shares of the business’s stock in a transaction on Wednesday, May 8th. The shares were sold at an average price of $90.88, for a total transaction of $908,800.00. Following the transaction, the vice president now owns 82,203 shares of the company’s stock, valued at $7,470,608.64. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Stephen V. Drehobl sold 7,830 shares of the business’s stock in a transaction on Thursday, May 16th. The stock was sold at an average price of $95.06, for a total transaction of $744,319.80. Following the transaction, the vice president now directly owns 79,509 shares in the company, valued at approximately $7,558,125.54. The disclosure for this sale can be found here. Over the last three months, insiders sold 23,993 shares of company stock worth $2,251,857. 2.07% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on MCHP shares. Mizuho raised shares of Microchip Technology from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $85.00 to $115.00 in a research report on Friday, May 24th. Evercore ISI began coverage on shares of Microchip Technology in a report on Tuesday, April 16th. They set an “outperform” rating and a $106.00 price target for the company. Piper Sandler reissued a “neutral” rating and set a $90.00 price objective (up from $80.00) on shares of Microchip Technology in a report on Tuesday, May 7th. Stifel Nicolaus raised their price objective on shares of Microchip Technology from $98.00 to $102.00 and gave the stock a “buy” rating in a report on Wednesday, May 1st. Finally, Citigroup raised their price objective on shares of Microchip Technology from $100.00 to $104.00 and gave the stock a “buy” rating in a report on Tuesday, May 7th. Five investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to data from MarketBeat, Microchip Technology currently has a consensus rating of “Moderate Buy” and a consensus price target of $101.06.

Microchip Technology Trading Up 1.0 %

Shares of Microchip Technology stock traded up $0.90 during trading on Wednesday, hitting $90.05. The stock had a trading volume of 4,561,557 shares, compared to its average volume of 5,713,407. The stock has a 50 day simple moving average of $92.62 and a 200 day simple moving average of $89.08. The company has a market capitalization of $48.35 billion, a PE ratio of 25.86 and a beta of 1.55. The company has a quick ratio of 0.67, a current ratio of 1.20 and a debt-to-equity ratio of 0.75. Microchip Technology Incorporated has a 1 year low of $68.75 and a 1 year high of $100.57.

Microchip Technology (NASDAQ:MCHP) last released its earnings results on Monday, May 6th. The semiconductor company reported $0.57 earnings per share for the quarter, hitting the consensus estimate of $0.57. The business had revenue of $1.33 billion for the quarter, compared to the consensus estimate of $1.33 billion. Microchip Technology had a net margin of 24.98% and a return on equity of 36.78%. The firm’s quarterly revenue was down 40.6% compared to the same quarter last year. During the same period last year, the firm posted $1.56 earnings per share. On average, research analysts expect that Microchip Technology Incorporated will post 2.35 EPS for the current fiscal year.

Microchip Technology Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, June 5th. Investors of record on Wednesday, May 22nd were issued a dividend of $0.452 per share. This is a boost from Microchip Technology’s previous quarterly dividend of $0.45. This represents a $1.81 annualized dividend and a dividend yield of 2.01%. The ex-dividend date was Tuesday, May 21st. Microchip Technology’s dividend payout ratio (DPR) is currently 52.16%.

About Microchip Technology

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.