Bank Julius Baer & Co. Ltd Zurich Has $877,000 Stake in Microchip Technology Incorporated (NASDAQ:MCHP)

Bank Julius Baer & Co. Ltd Zurich trimmed its holdings in Microchip Technology Incorporated (NASDAQ:MCHP) by 98.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 15,290 shares of the semiconductor company’s stock after selling 980,825 shares during the period. Bank Julius Baer & Co. Ltd Zurich’s holdings in Microchip Technology were worth $877,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in MCHP. Mainstream Capital Management LLC acquired a new stake in shares of Microchip Technology in the fourth quarter valued at approximately $26,000. Prospera Private Wealth LLC acquired a new stake in shares of Microchip Technology in the third quarter valued at approximately $29,000. Financial Life Planners acquired a new stake in shares of Microchip Technology in the fourth quarter valued at approximately $32,000. Peterson Financial Group Inc. acquired a new stake in shares of Microchip Technology in the third quarter valued at approximately $34,000. Finally, Truvestments Capital LLC acquired a new stake in shares of Microchip Technology in the third quarter valued at approximately $34,000. 91.51% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Microchip Technology news, CFO James Eric Bjornholt sold 3,724 shares of the company’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 of the company’s stock, valued at approximately $2,025,599.36. This 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 insiders.

Analysts Set New Price Targets

Several brokerages have commented on MCHP. 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. Piper Sandler restated an “overweight” rating and set a $65.00 price objective (down from $85.00) on shares of Microchip Technology in a research report on Friday, February 7th. B. Riley restated a “buy” rating and set a $75.00 price objective (down from $85.00) on shares of Microchip Technology in a research report on Friday, February 7th. Mizuho boosted their price objective on shares of Microchip Technology from $58.00 to $68.00 and gave the company an “outperform” rating in a research report on Tuesday, March 4th. Finally, Rosenblatt Securities restated a “buy” rating and set a $70.00 price objective on shares of Microchip Technology in a research report on Tuesday, March 4th. Two research analysts have rated the stock with a sell rating, four have issued a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $74.37.

Microchip Technology Trading Up 2.6 %

MCHP opened at $59.77 on Monday. 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 fifty-two week low of $50.21 and a fifty-two week high of $100.57. The firm has a market capitalization of $32.15 billion, a PE ratio of 106.73 and a beta of 1.52. The company’s 50-day moving average is $56.98 and its 200 day moving average is $66.56.

Microchip Technology (NASDAQ:MCHP) last posted its earnings results on Thursday, February 6th. The semiconductor company reported $0.13 earnings per share 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%. As a group, research analysts predict that Microchip Technology Incorporated will post 1.03 earnings per share for the current fiscal year.

Microchip Technology Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 7th. Shareholders of record on Monday, February 24th were given a $0.455 dividend. This represents a $1.82 dividend on an annualized basis and a yield of 3.05%. The ex-dividend date of this dividend was Monday, February 24th. Microchip Technology’s payout ratio is 325.00%.

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.