Mn Services Vermogensbeheer B.V. Has $19.45 Million Position in Microchip Technology Incorporated (NASDAQ:MCHP)

Mn Services Vermogensbeheer B.V. cut its position in shares of Microchip Technology Incorporated (NASDAQ:MCHP) by 2.8% during the 2nd quarter, Holdings Channel reports. The firm owned 212,600 shares of the semiconductor company’s stock after selling 6,100 shares during the quarter. Mn Services Vermogensbeheer B.V.’s holdings in Microchip Technology were worth $19,453,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently modified their holdings of MCHP. Rise Advisors LLC acquired a new position in Microchip Technology during the first quarter worth approximately $28,000. Pineridge Advisors LLC bought a new stake in Microchip Technology in the 4th quarter valued at $33,000. Steph & Co. lifted its holdings in Microchip Technology by 57.4% during the 1st quarter. Steph & Co. now owns 414 shares of the semiconductor company’s stock valued at $37,000 after purchasing an additional 151 shares during the last quarter. Pathway Financial Advisers LLC bought a new position in Microchip Technology during the first quarter worth $39,000. Finally, Bfsg LLC acquired a new position in shares of Microchip Technology in the fourth quarter valued at $45,000. 91.51% of the stock is owned by institutional investors.

Insider Activity at Microchip Technology

In related news, Director Matthew W. Chapman sold 2,748 shares of the stock in a transaction that occurred on Monday, June 10th. The shares were sold at an average price of $93.88, for a total value of $257,982.24. Following the completion of the transaction, the director now owns 35,682 shares of the company’s stock, valued at approximately $3,349,826.16. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. 2.07% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on MCHP. B. Riley reduced their target price on shares of Microchip Technology from $110.00 to $103.00 and set a “buy” rating for the company in a report on Friday, August 2nd. TD Cowen reduced their price objective on Microchip Technology from $90.00 to $80.00 and set a “hold” rating for the company in a report on Friday, August 2nd. KeyCorp upped their target price on Microchip Technology from $90.00 to $110.00 and gave the company an “overweight” rating in a research report on Tuesday, May 7th. UBS Group lifted their price target on Microchip Technology from $95.00 to $103.00 and gave the stock a “buy” rating in a report on Tuesday, May 7th. Finally, Truist Financial decreased their price objective on Microchip Technology from $96.00 to $89.00 and set a “buy” rating on the stock in a report on Friday, August 2nd. Five analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $99.95.

Microchip Technology Price Performance

NASDAQ:MCHP traded up $2.01 during mid-day trading on Friday, reaching $81.79. The stock had a trading volume of 4,242,619 shares, compared to its average volume of 6,031,359. The stock has a 50-day simple moving average of $86.73 and a two-hundred day simple moving average of $88.52. The company has a debt-to-equity ratio of 0.75, a current ratio of 1.20 and a quick ratio of 0.67. Microchip Technology Incorporated has a 12 month low of $68.75 and a 12 month high of $100.57. The stock has a market capitalization of $43.88 billion, a PE ratio of 23.57 and a beta of 1.54.

Microchip Technology (NASDAQ:MCHP) last issued its quarterly earnings results on Thursday, August 1st. The semiconductor company reported $0.53 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.52 by $0.01. Microchip Technology had a return on equity of 27.82% and a net margin of 20.80%. The company had revenue of $1.24 billion for the quarter, compared to analyst estimates of $1.24 billion. During the same quarter last year, the company posted $1.56 EPS. The company’s revenue for the quarter was down 45.8% compared to the same quarter last year. On average, equities analysts anticipate that Microchip Technology Incorporated will post 2.35 earnings per share for the current year.

Microchip Technology Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, September 5th. Stockholders of record on Thursday, August 22nd will be paid 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 dividend yield of 2.22%. The ex-dividend date of this dividend is Thursday, August 22nd. Microchip Technology’s dividend payout ratio (DPR) is presently 52.16%.

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.