B. Metzler seel. Sohn & Co. AG Buys 85,800 Shares of Microchip Technology Incorporated (NASDAQ:MCHP)

B. Metzler seel. Sohn & Co. AG boosted its position in shares of Microchip Technology Incorporated (NASDAQ:MCHP - Free Report) by 312.7% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 113,237 shares of the semiconductor company's stock after buying an additional 85,800 shares during the quarter. B. Metzler seel. Sohn & Co. AG's holdings in Microchip Technology were worth $6,494,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. Vanguard Group Inc. raised its stake in shares of Microchip Technology by 0.8% during the fourth quarter. Vanguard Group Inc. now owns 68,912,345 shares of the semiconductor company's stock valued at $3,952,123,000 after acquiring an additional 569,699 shares during the last quarter. Van ECK Associates Corp raised its position in Microchip Technology by 39.3% during the 4th quarter. Van ECK Associates Corp now owns 11,093,007 shares of the semiconductor company's stock valued at $636,184,000 after purchasing an additional 3,131,807 shares during the last quarter. Norges Bank purchased a new stake in Microchip Technology in the 4th quarter worth approximately $452,627,000. Barrow Hanley Mewhinney & Strauss LLC grew its position in shares of Microchip Technology by 273.2% in the 4th quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 5,345,096 shares of the semiconductor company's stock worth $306,541,000 after buying an additional 3,912,895 shares during the last quarter. Finally, California Public Employees Retirement System grew its position in shares of Microchip Technology by 12.8% in the 4th quarter. California Public Employees Retirement System now owns 3,706,403 shares of the semiconductor company's stock worth $212,562,000 after buying an additional 419,912 shares during the last quarter. Hedge funds and other institutional investors own 91.51% of the company's stock.

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Microchip Technology Stock Down 11.0 %

MCHP stock traded down $4.49 during midday trading on Friday, hitting $36.22. The company's stock had a trading volume of 26,402,713 shares, compared to its average volume of 7,622,366. The company has a market cap of $19.48 billion, a PE ratio of 64.68 and a beta of 1.51. The firm's 50-day moving average is $54.29 and its 200-day moving average is $62.76. Microchip Technology Incorporated has a 12 month low of $36.10 and a 12 month high of $100.57. The company has a current ratio of 2.25, a quick ratio of 1.23 and a debt-to-equity ratio of 1.12.

Microchip Technology (NASDAQ:MCHP - Get Free Report) last released its quarterly earnings data on Thursday, February 6th. The semiconductor company reported $0.13 EPS 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 research analysts forecast that Microchip Technology Incorporated will post 1.03 earnings per share for the current fiscal year.

Microchip Technology Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 7th. Investors of record on Monday, February 24th were given a dividend of $0.455 per share. The ex-dividend date was Monday, February 24th. This represents a $1.82 dividend on an annualized basis and a yield of 5.02%. Microchip Technology's dividend payout ratio (DPR) is 325.00%.

Analyst Ratings Changes

Several analysts recently weighed in on the stock. Morgan Stanley cut their price target on shares of Microchip Technology from $71.00 to $58.00 and set an "equal weight" rating on the stock in a report on Tuesday, February 4th. Bank of America cut shares of Microchip Technology from a "neutral" rating to an "underperform" rating and reduced their price target for the company from $80.00 to $65.00 in a research report on Monday, December 16th. KeyCorp lowered their price objective 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. Evercore ISI lifted their price objective on Microchip Technology from $65.00 to $71.00 and gave the company an "outperform" rating in a research report on Tuesday, March 4th. Finally, Rosenblatt Securities reissued a "buy" rating and issued a $70.00 target price on shares of Microchip Technology in a research report on Tuesday, March 4th. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock 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 firm's 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 transaction, the chief financial officer now directly owns 33,272 shares of the company's stock, valued at approximately $2,025,599.36. This trade represents a 10.07 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 2.10% of the stock is currently owned by insiders.

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.