DnB Asset Management AS Increases Stock Holdings in Microchip Technology Incorporated (NASDAQ:MCHP)

DnB Asset Management AS raised its stake in shares of Microchip Technology Incorporated (NASDAQ:MCHP) by 1.0% during the 4th quarter, Holdings Channel.com reports. The fund owned 91,118 shares of the semiconductor company’s stock after acquiring an additional 940 shares during the period. DnB Asset Management AS’s holdings in Microchip Technology were worth $5,226,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of MCHP. Alerus Financial NA purchased a new stake in shares of Microchip Technology in the fourth quarter valued at about $1,969,000. Level Four Advisory Services LLC increased its stake in Microchip Technology by 6.3% in the 4th quarter. Level Four Advisory Services LLC now owns 67,598 shares of the semiconductor company’s stock valued at $3,877,000 after buying an additional 3,977 shares during the last quarter. Pictet Asset Management Holding SA lifted its position in shares of Microchip Technology by 62.0% during the 4th quarter. Pictet Asset Management Holding SA now owns 3,575,544 shares of the semiconductor company’s stock worth $205,057,000 after buying an additional 1,368,322 shares in the last quarter. Broadway Wealth Solutions Inc. bought a new position in shares of Microchip Technology during the 4th quarter worth approximately $364,000. Finally, Providence Capital Advisors LLC boosted its stake in shares of Microchip Technology by 28.1% in the 4th quarter. Providence Capital Advisors LLC now owns 78,400 shares of the semiconductor company’s stock worth $4,496,000 after buying an additional 17,200 shares during the last quarter. 91.51% of the stock is currently owned by institutional investors.

Microchip Technology Trading Down 4.1 %

Shares of MCHP opened at $48.70 on Monday. The business’s 50-day moving average price is $55.65 and its 200-day moving average price is $63.80. The company has a quick ratio of 1.23, a current ratio of 2.25 and a debt-to-equity ratio of 1.12. Microchip Technology Incorporated has a twelve month low of $48.27 and a twelve month high of $100.57. The stock has a market cap of $26.19 billion, a PE ratio of 86.96 and a beta of 1.52.

Microchip Technology (NASDAQ:MCHP) last posted 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 return on equity of 12.62% and a net margin of 6.49%. On average, equities analysts forecast that Microchip Technology Incorporated will post 1.03 EPS for the current fiscal year.

Microchip Technology Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 7th. Investors of record on Monday, February 24th were paid a dividend of $0.455 per share. This represents a $1.82 annualized dividend and a yield of 3.74%. The ex-dividend date of this dividend was Monday, February 24th. Microchip Technology’s dividend payout ratio is 325.00%.

Analyst Ratings Changes

MCHP has been the topic of a number of recent analyst reports. StockNews.com lowered Microchip Technology from a “hold” rating to a “sell” rating in a report on Monday, February 10th. Raymond James reiterated a “strong-buy” rating and set a $60.00 target price (down from $95.00) on shares of Microchip Technology in a research note on Friday, February 7th. Morgan Stanley reduced their price target 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. KeyCorp lowered their price objective on shares of Microchip Technology from $70.00 to $60.00 and set an “overweight” rating on the stock in a research report on Friday, February 7th. Finally, Bank of America downgraded shares of Microchip Technology from a “neutral” rating to an “underperform” rating and reduced their target price for the company from $80.00 to $65.00 in a research report on Monday, December 16th. 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 assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Microchip Technology presently has a consensus rating of “Moderate Buy” and an average target price of $74.37.

Insider Buying and Selling

In other Microchip Technology news, CFO James Eric Bjornholt sold 3,724 shares of Microchip Technology stock in a transaction that occurred on Tuesday, February 25th. The shares were sold at an average price of $60.88, for a total transaction 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 $2,025,599.36. The trade was a 10.07 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 2.10% of the stock is owned by company insiders.

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.