GAM Holding AG Has $10.04 Million Stake in Microchip Technology Incorporated (NASDAQ:MCHP)

GAM Holding AG trimmed its stake in shares of Microchip Technology Incorporated (NASDAQ:MCHP) by 4.3% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 125,098 shares of the semiconductor company’s stock after selling 5,628 shares during the period. GAM Holding AG’s holdings in Microchip Technology were worth $10,044,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Fisher Asset Management LLC grew its position in Microchip Technology by 3,353.4% in the fourth quarter. Fisher Asset Management LLC now owns 2,521 shares of the semiconductor company’s stock valued at $227,000 after purchasing an additional 2,448 shares in the last quarter. Dynamic Advisor Solutions LLC raised its stake in Microchip Technology by 80.7% in the 1st quarter. Dynamic Advisor Solutions LLC now owns 23,194 shares of the semiconductor company’s stock worth $2,081,000 after purchasing an additional 10,358 shares in the last quarter. First Financial Corp IN raised its position in shares of Microchip Technology by 46.7% in the 1st quarter. First Financial Corp IN now owns 1,058 shares of the semiconductor company’s stock valued at $95,000 after buying an additional 337 shares in the last quarter. Sunbelt Securities Inc. raised its position in shares of Microchip Technology by 9.2% in the 1st quarter. Sunbelt Securities Inc. now owns 9,356 shares of the semiconductor company’s stock valued at $839,000 after buying an additional 791 shares in the last quarter. Finally, GoalVest Advisory LLC raised its position in shares of Microchip Technology by 49.8% in the 1st quarter. GoalVest Advisory LLC now owns 602 shares of the semiconductor company’s stock valued at $54,000 after buying an additional 200 shares in the last quarter. 91.51% of the stock is currently owned by institutional investors and hedge funds.

Microchip Technology Stock Performance

Shares of Microchip Technology stock opened at $75.43 on Wednesday. The company has a market cap of $40.47 billion, a P/E ratio of 21.74 and a beta of 1.52. The company has a current ratio of 1.94, a quick ratio of 1.08 and a debt-to-equity ratio of 0.96. The business has a 50-day moving average price of $78.19 and a two-hundred day moving average price of $85.98. Microchip Technology Incorporated has a 1-year low of $68.75 and a 1-year high of $100.57.

Microchip Technology (NASDAQ:MCHP) last issued its earnings results on Thursday, August 1st. The semiconductor company reported $0.53 earnings per share for the quarter, topping analysts’ consensus estimates of $0.52 by $0.01. The business had revenue of $1.24 billion during the quarter, compared to the consensus estimate of $1.24 billion. Microchip Technology had a return on equity of 28.33% and a net margin of 20.80%. The firm’s revenue for the quarter was down 45.8% on a year-over-year basis. During the same period in the previous year, the company posted $1.56 earnings per share. As a group, analysts anticipate that Microchip Technology Incorporated will post 1.73 EPS for the current year.

Microchip Technology Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, September 5th. Shareholders of record on Thursday, August 22nd were issued a $0.454 dividend. This is an increase from Microchip Technology’s previous quarterly dividend of $0.45. This represents a $1.82 dividend on an annualized basis and a yield of 2.41%. The ex-dividend date was Thursday, August 22nd. Microchip Technology’s payout ratio is presently 52.16%.

Insiders Place Their Bets

In other Microchip Technology news, CFO James Eric Bjornholt sold 2,154 shares of Microchip Technology stock in a transaction that occurred on Friday, August 23rd. The stock was sold at an average price of $81.50, for a total value of $175,551.00. Following the completion of the sale, the chief financial officer now directly owns 33,257 shares in the company, valued at approximately $2,710,445.50. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 2.07% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

MCHP has been the subject of several analyst reports. Piper Sandler upgraded shares of Microchip Technology from a “neutral” rating to an “overweight” rating and boosted their target price for the company from $90.00 to $100.00 in a research report on Friday, August 16th. StockNews.com upgraded shares of Microchip Technology from a “sell” rating to a “hold” rating in a research report on Thursday, October 17th. Mizuho set a $95.00 price objective on shares of Microchip Technology in a research note on Friday, October 18th. Bank of America downgraded shares of Microchip Technology from a “buy” rating to a “neutral” rating and lowered their price target for the stock from $110.00 to $90.00 in a report on Friday, August 2nd. Finally, Truist Financial downgraded Microchip Technology from a “buy” rating to a “hold” rating and cut their price objective for the company from $89.00 to $80.00 in a report on Monday, September 23rd. Six investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. According to MarketBeat, Microchip Technology presently has a consensus rating of “Moderate Buy” and an average price target of $97.89.

Microchip Technology 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.