J. Safra Sarasin Holding AG Sells 353,864 Shares of Microchip Technology Incorporated (NASDAQ:MCHP)

J. Safra Sarasin Holding AG decreased its holdings in Microchip Technology Incorporated (NASDAQ:MCHP - Free Report) by 48.9% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 370,189 shares of the semiconductor company's stock after selling 353,864 shares during the quarter. J. Safra Sarasin Holding AG owned approximately 0.07% of Microchip Technology worth $21,230,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Virtu Financial LLC bought a new position in shares of Microchip Technology during the third quarter worth about $491,000. Stock Yards Bank & Trust Co. raised its holdings in Microchip Technology by 3.3% during the 3rd quarter. Stock Yards Bank & Trust Co. now owns 11,517 shares of the semiconductor company's stock worth $925,000 after purchasing an additional 368 shares during the last quarter. World Investment Advisors LLC raised its holdings in Microchip Technology by 11.7% during the 3rd quarter. World Investment Advisors LLC now owns 42,882 shares of the semiconductor company's stock worth $3,443,000 after purchasing an additional 4,477 shares during the last quarter. Arvest Bank Trust Division acquired a new position in shares of Microchip Technology in the 3rd quarter worth approximately $223,000. Finally, Wilmington Savings Fund Society FSB boosted its stake in shares of Microchip Technology by 16.6% in the 3rd quarter. Wilmington Savings Fund Society FSB now owns 60,394 shares of the semiconductor company's stock valued at $4,849,000 after purchasing an additional 8,592 shares during the last quarter. 91.51% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, CFO James Eric Bjornholt sold 3,724 shares of the 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 transaction, the chief financial officer now directly owns 33,272 shares of the company's stock, valued at $2,025,599.36. This represents a 10.07 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 2.10% of the company's stock.

Microchip Technology Stock Down 0.5 %

NASDAQ:MCHP traded down $0.23 during trading hours on Friday, hitting $46.89. 7,677,163 shares of the company traded hands, compared to its average volume of 8,216,366. Microchip Technology Incorporated has a one year low of $34.13 and a one year high of $100.57. The company has a quick ratio of 1.23, a current ratio of 2.25 and a debt-to-equity ratio of 1.12. The company has a market cap of $25.22 billion, a PE ratio of 83.73 and a beta of 1.51. The firm's 50-day simple moving average is $49.70 and its 200-day simple moving average is $58.77.

Microchip Technology (NASDAQ:MCHP - Get Free Report) last released its quarterly 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%. Equities analysts predict that Microchip Technology Incorporated will post 1.03 earnings per share for the current year.

Microchip Technology Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 7th. Shareholders of record on Monday, February 24th were paid 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 3.88%. Microchip Technology's dividend payout ratio (DPR) is presently 325.00%.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on the stock. StockNews.com lowered shares of Microchip Technology from a "hold" rating to a "sell" rating in a report on Monday, February 10th. B. Riley restated a "buy" rating and set a $75.00 target price (down previously from $85.00) on shares of Microchip Technology in a research report on Friday, February 7th. 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. Raymond James reaffirmed a "strong-buy" rating and set a $60.00 price objective (down previously from $95.00) on shares of Microchip Technology in a research report on Friday, February 7th. Finally, Morgan Stanley dropped their target price on shares of Microchip Technology from $71.00 to $58.00 and set an "equal weight" rating on the stock in a research report on Tuesday, February 4th. Two equities 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's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $69.32.

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.