Generali Asset Management SPA SGR Purchases New Shares in Microchip Technology Incorporated (NASDAQ:MCHP)

Generali Asset Management SPA SGR acquired a new position in shares of Microchip Technology Incorporated (NASDAQ:MCHP - Free Report) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 10,426 shares of the semiconductor company's stock, valued at approximately $598,000.

A number of other institutional investors have also recently bought and sold shares of the company. United Bank grew its stake in shares of Microchip Technology by 21.0% in the 3rd quarter. United Bank now owns 9,871 shares of the semiconductor company's stock valued at $793,000 after buying an additional 1,712 shares in the last quarter. OneDigital Investment Advisors LLC grew its position in Microchip Technology by 6.7% in the third quarter. OneDigital Investment Advisors LLC now owns 4,458 shares of the semiconductor company's stock worth $358,000 after acquiring an additional 280 shares in the last quarter. Quest Partners LLC increased its stake in shares of Microchip Technology by 463,300.0% during the 3rd quarter. Quest Partners LLC now owns 4,634 shares of the semiconductor company's stock worth $372,000 after purchasing an additional 4,633 shares during the last quarter. B. Metzler seel. Sohn & Co. Holding AG bought a new position in shares of Microchip Technology during the 3rd quarter valued at $2,203,000. Finally, West Family Investments Inc. bought a new position in shares of Microchip Technology during the 3rd quarter valued at $203,000. Institutional investors and hedge funds own 91.51% of the company's stock.

Analysts Set New Price Targets

Several research firms have commented on MCHP. Evercore ISI increased their target price on shares of Microchip Technology from $65.00 to $71.00 and gave the stock an "outperform" rating in a research report on Tuesday, March 4th. The Goldman Sachs Group cut their price objective on Microchip Technology from $72.00 to $63.00 and set a "neutral" rating on the stock in a research note on Friday, January 10th. KeyCorp reduced their target price on Microchip Technology from $70.00 to $60.00 and set an "overweight" rating for the company in a report on Friday, February 7th. Stifel Nicolaus lowered their price target on Microchip Technology from $90.00 to $87.00 and set a "buy" rating on the stock in a report on Tuesday, December 3rd. Finally, Mizuho boosted their price objective on shares of Microchip Technology from $58.00 to $68.00 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 assigned a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $74.37.

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Insider Buying and Selling

In other news, CFO James Eric Bjornholt sold 3,724 shares of the company's stock in a transaction dated Tuesday, February 25th. The shares were sold at an average price of $60.88, for a total value of $226,717.12. Following the sale, the chief financial officer now owns 33,272 shares of the company's stock, valued at approximately $2,025,599.36. This represents a 10.07 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 2.10% of the company's stock.

Microchip Technology Stock Performance

Shares of MCHP stock traded down $1.53 during mid-day trading on Tuesday, reaching $52.36. The stock had a trading volume of 8,676,307 shares, compared to its average volume of 7,028,902. The firm has a market cap of $28.16 billion, a PE ratio of 93.50 and a beta of 1.52. 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 Incorporated has a one year low of $49.92 and a one year high of $100.57. The firm's 50 day simple moving average is $56.13 and its 200 day simple moving average is $64.49.

Microchip Technology (NASDAQ:MCHP - Get Free Report) last issued its earnings results 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 return on equity of 12.62% and a net margin of 6.49%. On average, analysts forecast that Microchip Technology Incorporated will post 1.03 EPS for the current year.

Microchip Technology Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 7th. Investors of record on Monday, February 24th were given a $0.455 dividend. This represents a $1.82 annualized dividend and a yield of 3.48%. The ex-dividend date of this dividend was Monday, February 24th. Microchip Technology's dividend payout ratio (DPR) is presently 325.00%.

Microchip Technology 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.