Bank Julius Baer & Co. Ltd Zurich Has $877,000 Holdings in Microchip Technology Incorporated (NASDAQ:MCHP)

Bank Julius Baer & Co. Ltd Zurich trimmed its holdings in Microchip Technology Incorporated (NASDAQ:MCHP - Free Report) by 98.5% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 15,290 shares of the semiconductor company's stock after selling 980,825 shares during the quarter. Bank Julius Baer & Co. Ltd Zurich's holdings in Microchip Technology were worth $877,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently modified their holdings of the business. Edgestream Partners L.P. boosted its holdings in Microchip Technology by 232.1% in the 4th quarter. Edgestream Partners L.P. now owns 124,125 shares of the semiconductor company's stock valued at $7,119,000 after purchasing an additional 86,748 shares during the period. Callan Family Office LLC lifted its stake in shares of Microchip Technology by 1,338.9% in the fourth quarter. Callan Family Office LLC now owns 58,133 shares of the semiconductor company's stock valued at $3,334,000 after buying an additional 54,093 shares during the period. E Fund Management Co. Ltd. grew its position in Microchip Technology by 37.8% during the fourth quarter. E Fund Management Co. Ltd. now owns 17,388 shares of the semiconductor company's stock worth $997,000 after buying an additional 4,774 shares in the last quarter. Promus Capital LLC bought a new position in Microchip Technology during the fourth quarter valued at about $130,000. Finally, Proficio Capital Partners LLC acquired a new position in Microchip Technology in the 4th quarter valued at approximately $3,818,000. 91.51% of the stock is owned by institutional investors.

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Insider Activity

In other news, CFO James Eric Bjornholt sold 3,724 shares of Microchip Technology stock in a transaction that occurred 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 sale, the chief financial officer now owns 33,272 shares in the company, valued at $2,025,599.36. The trade was a 10.07 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Insiders own 2.10% of the company's stock.

Analyst Ratings Changes

Several analysts have recently weighed in on the company. Needham & Company LLC lifted their price objective on Microchip Technology from $60.00 to $66.00 and gave the stock a "buy" rating in a report on Tuesday, March 4th. Morgan Stanley decreased 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 research note on Tuesday, February 4th. TD Cowen boosted their price target on shares of Microchip Technology from $50.00 to $60.00 and gave the company a "hold" rating in a report on Tuesday, March 4th. The Goldman Sachs Group reduced their price objective on shares of Microchip Technology from $72.00 to $63.00 and set a "neutral" rating for the company in a report on Friday, January 10th. Finally, Raymond James reissued a "strong-buy" rating and issued a $60.00 target price (down previously from $95.00) on shares of Microchip Technology in a research note on Friday, February 7th. Two investment analysts have rated the stock with a sell rating, four have given a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $74.37.

Microchip Technology Price Performance

Shares of Microchip Technology stock traded down $0.36 during trading on Wednesday, reaching $51.88. The company's stock had a trading volume of 821,054 shares, compared to its average volume of 9,953,502. The stock has a 50-day moving average price of $56.80 and a two-hundred day moving average price of $66.17. The stock has a market capitalization of $27.90 billion, a P/E ratio of 93.06 and a beta of 1.52. 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 Incorporated has a one year low of $50.21 and a one year high of $100.57.

Microchip Technology (NASDAQ:MCHP - Get Free Report) last announced 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 return on equity of 12.62% and a net margin of 6.49%. As a group, sell-side analysts anticipate that Microchip Technology Incorporated will post 1.03 EPS for the current fiscal year.

Microchip Technology Dividend Announcement

The company 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. The ex-dividend date was Monday, February 24th. This represents a $1.82 dividend on an annualized basis and a yield of 3.51%. Microchip Technology's payout ratio is 325.00%.

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.