Commerzbank Aktiengesellschaft FI Takes Position in Microchip Technology Incorporated (NASDAQ:MCHP)

Commerzbank Aktiengesellschaft FI purchased a new stake in Microchip Technology Incorporated (NASDAQ:MCHP) in the fourth quarter, Holdings Channel.com reports. The fund purchased 2,673 shares of the semiconductor company’s stock, valued at approximately $242,000.

A number of other large investors have also made changes to their positions in MCHP. Horizon Bancorp Inc. IN purchased a new stake in shares of Microchip Technology during the fourth quarter worth about $110,000. Rockline Wealth Management LLC acquired a new stake in shares of Microchip Technology in the fourth quarter worth approximately $4,449,000. 17 Capital Partners LLC acquired a new stake in shares of Microchip Technology in the fourth quarter worth approximately $1,827,000. AIA Group Ltd boosted its position in shares of Microchip Technology by 80.4% in the fourth quarter. AIA Group Ltd now owns 29,910 shares of the semiconductor company’s stock worth $2,697,000 after acquiring an additional 13,326 shares during the last quarter. Finally, GAM Holding AG boosted its position in shares of Microchip Technology by 13.9% in the fourth quarter. GAM Holding AG now owns 145,575 shares of the semiconductor company’s stock worth $13,128,000 after acquiring an additional 17,776 shares during the last quarter. Hedge funds and other institutional investors own 91.51% of the company’s stock.

Insider Buying and Selling

In other Microchip Technology news, CFO James Eric Bjornholt sold 1,970 shares of the business’s stock in a transaction on Friday, February 23rd. The shares were sold at an average price of $83.90, for a total transaction of $165,283.00. Following the completion of the sale, the chief financial officer now owns 32,893 shares in the company, valued at $2,759,722.70. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other Microchip Technology news, Director Karlton D. Johnson sold 370 shares of the business’s stock in a transaction on Tuesday, February 6th. The shares were sold at an average price of $84.00, for a total transaction of $31,080.00. Following the completion of the sale, the director now owns 1,789 shares in the company, valued at $150,276. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CFO James Eric Bjornholt sold 1,970 shares of the business’s stock in a transaction on Friday, February 23rd. The shares were sold at an average price of $83.90, for a total transaction of $165,283.00. Following the transaction, the chief financial officer now directly owns 32,893 shares of the company’s stock, valued at approximately $2,759,722.70. The disclosure for this sale can be found here. Insiders own 2.07% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on the stock. Rosenblatt Securities reissued a “buy” rating and issued a $100.00 target price on shares of Microchip Technology in a research report on Tuesday, January 30th. The Goldman Sachs Group decreased their target price on shares of Microchip Technology from $87.00 to $77.00 and set a “neutral” rating on the stock in a research report on Friday, February 2nd. Wolfe Research raised shares of Microchip Technology from a “peer perform” rating to an “outperform” rating and set a $105.00 price target on the stock in a research report on Thursday, January 18th. StockNews.com cut shares of Microchip Technology from a “buy” rating to a “hold” rating in a research report on Friday, December 29th. Finally, Susquehanna reaffirmed a “positive” rating and set a $100.00 price target on shares of Microchip Technology in a research report on Monday, April 8th. Six analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat.com, Microchip Technology presently has an average rating of “Moderate Buy” and a consensus target price of $92.50.

Microchip Technology Trading Up 2.3 %

NASDAQ MCHP opened at $83.53 on Tuesday. The company’s fifty day simple moving average is $86.50 and its 200-day simple moving average is $84.41. Microchip Technology Incorporated has a 52 week low of $68.75 and a 52 week high of $94.30. The company has a current ratio of 0.98, a quick ratio of 0.58 and a debt-to-equity ratio of 0.57. The stock has a market cap of $45.14 billion, a P/E ratio of 19.52, a PEG ratio of 2.49 and a beta of 1.65.

Microchip Technology (NASDAQ:MCHP) last issued its quarterly earnings results on Thursday, February 1st. The semiconductor company reported $1.08 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.04 by $0.04. The business had revenue of $1.77 billion during the quarter, compared to analyst estimates of $1.77 billion. Microchip Technology had a net margin of 27.59% and a return on equity of 45.59%. The business’s revenue was down 18.6% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.48 earnings per share. Equities research analysts predict that Microchip Technology Incorporated will post 4.64 EPS for the current fiscal year.

Microchip Technology Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 8th. Investors of record on Friday, February 23rd were paid a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a dividend yield of 2.15%. The ex-dividend date of this dividend was Thursday, February 22nd. This is a positive change from Microchip Technology’s previous quarterly dividend of $0.44. Microchip Technology’s payout ratio is 42.06%.

Microchip Technology Company Profile

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.