Pictet Asset Management Holding SA Has $205.06 Million Holdings in Microchip Technology Incorporated (NASDAQ:MCHP)

Pictet Asset Management Holding SA grew its stake in Microchip Technology Incorporated (NASDAQ:MCHP - Free Report) by 62.0% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,575,544 shares of the semiconductor company's stock after acquiring an additional 1,368,322 shares during the quarter. Pictet Asset Management Holding SA owned about 0.67% of Microchip Technology worth $205,057,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. Norges Bank acquired a new position in Microchip Technology in the 4th quarter valued at $452,627,000. Van ECK Associates Corp lifted its position in Microchip Technology by 39.3% during the fourth quarter. Van ECK Associates Corp now owns 11,093,007 shares of the semiconductor company's stock worth $636,184,000 after buying an additional 3,131,807 shares during the period. Assenagon Asset Management S.A. boosted its stake in Microchip Technology by 9,901.6% in the 4th quarter. Assenagon Asset Management S.A. now owns 2,857,654 shares of the semiconductor company's stock worth $163,886,000 after buying an additional 2,829,082 shares during the last quarter. Madison Investment Advisors LLC purchased a new stake in Microchip Technology in the 4th quarter valued at about $78,661,000. Finally, Franklin Resources Inc. increased its stake in shares of Microchip Technology by 30.2% during the 3rd quarter. Franklin Resources Inc. now owns 3,347,643 shares of the semiconductor company's stock valued at $264,430,000 after acquiring an additional 776,408 shares during the last quarter. Institutional investors and hedge funds own 91.51% of the company's stock.

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Microchip Technology Stock Performance

Shares of Microchip Technology stock traded up $0.37 on Wednesday, reaching $48.87. 1,780,833 shares of the company were exchanged, compared to its average volume of 9,980,378. The firm has a market cap of $26.28 billion, a price-to-earnings ratio of 87.26 and a beta of 1.52. Microchip Technology Incorporated has a 1-year low of $47.21 and a 1-year high of $100.57. The company has a debt-to-equity ratio of 1.12, a quick ratio of 1.23 and a current ratio of 2.25. The company's 50-day moving average is $55.26 and its two-hundred day moving average is $63.40.

Microchip Technology (NASDAQ:MCHP - Get Free Report) last posted its earnings results on Thursday, February 6th. The semiconductor company reported $0.13 earnings per share (EPS) 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%. As a group, research analysts expect 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 paid a dividend of $0.455 per share. The ex-dividend date of this dividend was Monday, February 24th. This represents a $1.82 dividend on an annualized basis and a dividend yield of 3.72%. Microchip Technology's dividend payout ratio is presently 325.00%.

Insider Activity at Microchip Technology

In related news, CFO James Eric Bjornholt sold 3,724 shares of Microchip Technology stock in a transaction on 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 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 legal filing with the SEC, which is available through this link. Company insiders own 2.10% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on the stock. Raymond James reissued a "strong-buy" rating and issued a $60.00 target price (down from $95.00) on shares of Microchip Technology in a research report on Friday, February 7th. B. Riley reissued a "buy" rating and set a $75.00 price objective (down from $85.00) on shares of Microchip Technology in a research note on Friday, February 7th. Rosenblatt Securities restated a "buy" rating and set a $70.00 price objective on shares of Microchip Technology in a report on Tuesday, March 4th. The Goldman Sachs Group reduced their target price on Microchip Technology from $72.00 to $63.00 and set a "neutral" rating on the stock in a report on Friday, January 10th. Finally, Stifel Nicolaus dropped their price target on Microchip Technology from $90.00 to $87.00 and set a "buy" rating for the company in a research note on Tuesday, December 3rd. Two research analysts have rated the stock with a sell rating, four have given a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, Microchip Technology has an average rating of "Moderate Buy" and an average price target of $74.37.

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.