APG Asset Management N.V. Raises Stock Position in Microchip Technology Incorporated (NASDAQ:MCHP)

APG Asset Management N.V. lifted its position in shares of Microchip Technology Incorporated (NASDAQ:MCHP - Free Report) by 780.3% in 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 0.06% of Microchip Technology worth $17,494,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of the business. Mainstream Capital Management LLC purchased a new stake in shares of Microchip Technology in the 4th quarter worth about $26,000. Rakuten Securities Inc. raised its stake in Microchip Technology by 309.5% in 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 in the last quarter. OFI Invest Asset Management purchased a new stake in Microchip Technology in the fourth quarter worth about $29,000. Financial Life Planners bought a new stake in Microchip Technology during the 4th quarter valued at approximately $32,000. Finally, Kohmann Bosshard Financial Services LLC purchased a new position in shares of Microchip Technology during the 4th quarter worth approximately $34,000. 91.51% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on MCHP shares. The Goldman Sachs Group lowered their target price on Microchip Technology from $72.00 to $63.00 and set a "neutral" rating for the company in a research note on Friday, January 10th. Raymond James reiterated a "strong-buy" rating and set a $60.00 price target (down previously from $95.00) on shares of Microchip Technology in a report on Friday, February 7th. StockNews.com lowered shares of Microchip Technology from a "hold" rating to a "sell" rating in a report on Monday, February 10th. Needham & Company LLC lifted their target price on Microchip Technology from $60.00 to $66.00 and gave the stock a "buy" rating in a report on Tuesday, March 4th. Finally, Piper Sandler restated an "overweight" rating and issued a $65.00 price target (down previously from $85.00) on shares of Microchip Technology in a research note on Friday, February 7th. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Microchip Technology has an average rating of "Moderate Buy" and a consensus price target of $72.68.

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Microchip Technology Price Performance

NASDAQ:MCHP traded down $0.02 during trading hours on Tuesday, hitting $38.86. 1,922,257 shares of the stock traded hands, compared to its average volume of 7,978,224. The company has a market cap of $20.90 billion, a price-to-earnings ratio of 69.39 and a beta of 1.51. Microchip Technology Incorporated has a 1 year low of $34.13 and a 1 year high of $100.57. The stock has a 50 day moving average price of $51.84 and a 200 day moving average price of $60.60. 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 (NASDAQ:MCHP - Get Free Report) last released its 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%. Sell-side analysts forecast that Microchip Technology Incorporated will post 1.03 EPS for the current fiscal year.

Microchip Technology Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, March 7th. Investors 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 dividend on an annualized basis and a yield of 4.68%. Microchip Technology's dividend payout ratio is presently 325.00%.

Insiders Place Their Bets

In related news, CFO James Eric Bjornholt sold 3,724 shares of the company's stock in a transaction 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 transaction, the chief financial officer now owns 33,272 shares in the company, valued at approximately $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 can be accessed through this hyperlink. 2.10% of the stock is currently owned by corporate insiders.

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.