PGGM Investments Sells 48,035 Shares of Microchip Technology Incorporated (NASDAQ:MCHP)

PGGM Investments lowered its holdings in shares of Microchip Technology Incorporated (NASDAQ:MCHP) by 86.6% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 7,443 shares of the semiconductor company’s stock after selling 48,035 shares during the period. PGGM Investments’ holdings in Microchip Technology were worth $427,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of MCHP. Mainstream Capital Management LLC bought a new position in Microchip Technology during the fourth quarter worth $26,000. Rakuten Securities Inc. raised its stake in Microchip Technology by 309.5% during the fourth quarter. Rakuten Securities Inc. now owns 475 shares of the semiconductor company’s stock worth $27,000 after buying an additional 359 shares during the last quarter. Prospera Private Wealth LLC bought a new position in Microchip Technology during the third quarter worth $29,000. OFI Invest Asset Management bought a new position in Microchip Technology during the fourth quarter worth $29,000. Finally, Financial Life Planners bought a new position in Microchip Technology during the fourth quarter worth $32,000. Institutional investors own 91.51% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have commented on MCHP. Stifel Nicolaus reduced their price target on shares of Microchip Technology from $90.00 to $87.00 and set a “buy” rating for the company in a report on Tuesday, December 3rd. Rosenblatt Securities restated a “buy” rating and issued a $70.00 price target on shares of Microchip Technology in a report on Tuesday, March 4th. Mizuho raised their price target on shares of Microchip Technology from $58.00 to $68.00 and gave the stock an “outperform” rating in a report on Tuesday, March 4th. Raymond James restated a “strong-buy” rating and issued a $60.00 price target (down from $95.00) on shares of Microchip Technology in a report on Friday, February 7th. Finally, KeyCorp reduced their price target on shares of Microchip Technology from $70.00 to $60.00 and set an “overweight” rating for the company in a report on Friday, February 7th. Two investment 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. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $74.37.

Microchip Technology Stock Up 3.1 %

MCHP opened at $53.50 on Friday. The company has a debt-to-equity ratio of 1.12, a current ratio of 2.25 and a quick ratio of 1.23. The company’s 50-day moving average is $56.51 and its 200 day moving average is $65.79. 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 $28.77 billion, a P/E ratio of 95.54 and a beta of 1.52.

Microchip Technology (NASDAQ:MCHP) last released its quarterly 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 net margin of 6.49% and a return on equity of 12.62%. Research analysts expect that Microchip Technology Incorporated will post 1.03 earnings per share for the current fiscal year.

Microchip Technology Announces Dividend

The business 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 annualized dividend and a yield of 3.40%. The ex-dividend date of this dividend was Monday, February 24th. Microchip Technology’s dividend payout ratio is 325.00%.

Insiders Place Their Bets

In other Microchip Technology news, CFO James Eric Bjornholt sold 3,724 shares of Microchip Technology 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 sale, the chief financial officer now owns 33,272 shares of the company’s stock, valued at approximately $2,025,599.36. The trade was a 10.07 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 2.10% of the company’s stock.

About Microchip Technology

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.