APG Asset Management N.V. Purchases 279,989 Shares of Microchip Technology Incorporated (NASDAQ:MCHP)

APG Asset Management N.V. increased its position in shares of Microchip Technology Incorporated (NASDAQ:MCHP) by 780.3% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 315,870 shares of the semiconductor company’s stock after purchasing an additional 279,989 shares during the period. APG Asset Management N.V. owned about 0.06% of Microchip Technology worth $17,494,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also modified their holdings of the company. Mainstream Capital Management LLC bought a new stake in Microchip Technology in the fourth quarter valued at $26,000. Rakuten Securities Inc. grew its position in Microchip Technology by 309.5% in the fourth quarter. Rakuten Securities Inc. now owns 475 shares of the semiconductor company’s stock valued at $27,000 after acquiring an additional 359 shares during the period. OFI Invest Asset Management bought a new stake in Microchip Technology in the fourth quarter valued at $29,000. Financial Life Planners bought a new stake in Microchip Technology in the fourth quarter valued at $32,000. Finally, Kohmann Bosshard Financial Services LLC bought a new stake in Microchip Technology in the fourth quarter valued at $34,000. 91.51% of the stock is currently owned by institutional investors.

Microchip Technology Trading Up 27.1 %

NASDAQ:MCHP opened at $44.90 on Thursday. Microchip Technology Incorporated has a 1-year low of $34.13 and a 1-year high of $100.57. The business’s 50-day moving average price is $52.68 and its two-hundred day moving average price is $61.56. The company has a current ratio of 2.25, a quick ratio of 1.23 and a debt-to-equity ratio of 1.12. The firm has a market capitalization of $24.15 billion, a price-to-earnings ratio of 80.18 and a beta of 1.51.

Microchip Technology (NASDAQ:MCHP) last released its earnings results on Thursday, February 6th. The semiconductor company reported $0.13 earnings per share for the quarter, missing the consensus estimate of $0.28 by ($0.15). Microchip Technology had a net margin of 6.49% and a return on equity of 12.62%. On average, equities analysts expect that Microchip Technology Incorporated will post 1.03 earnings per share for the current year.

Microchip Technology Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 7th. Shareholders of record on Monday, February 24th were issued a $0.455 dividend. The ex-dividend date of this dividend was Monday, February 24th. This represents a $1.82 annualized dividend and a dividend yield of 4.05%. Microchip Technology’s dividend payout ratio (DPR) is currently 325.00%.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on MCHP. KeyCorp lowered their price target on Microchip Technology from $70.00 to $60.00 and set an “overweight” rating on the stock in a research report on Friday, February 7th. B. Riley reissued a “buy” rating and issued a $75.00 price objective (down previously from $85.00) on shares of Microchip Technology in a research note on Friday, February 7th. Morgan Stanley reduced their price objective on Microchip Technology from $71.00 to $58.00 and set an “equal weight” rating on the stock in a research note on Tuesday, February 4th. StockNews.com lowered Microchip Technology from a “hold” rating to a “sell” rating in a research note on Monday, February 10th. Finally, Evercore ISI boosted their price objective on Microchip Technology from $65.00 to $71.00 and gave the stock an “outperform” rating in a research note on Tuesday, March 4th. Two analysts have rated the stock with a sell rating, four have issued a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $74.37.

Insiders Place Their Bets

In other Microchip Technology news, CFO James Eric Bjornholt sold 3,724 shares of the stock in a transaction dated Tuesday, February 25th. The stock was 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 in the company, valued at $2,025,599.36. This represents a 10.07 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 2.10% of the company’s stock.

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.