Mitsubishi UFJ Trust & Banking Corp Sells 57,196 Shares of Microchip Technology Incorporated (NASDAQ:MCHP)

Mitsubishi UFJ Trust & Banking Corp lessened its stake in shares of Microchip Technology Incorporated (NASDAQ:MCHP) by 14.8% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 328,759 shares of the semiconductor company’s stock after selling 57,196 shares during the period. Mitsubishi UFJ Trust & Banking Corp owned about 0.06% of Microchip Technology worth $18,854,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. Mainstream Capital Management LLC bought a new stake in shares of Microchip Technology in the fourth quarter valued at about $26,000. Rakuten Securities Inc. increased its position in Microchip Technology by 309.5% during the 4th quarter. Rakuten Securities Inc. now owns 475 shares of the semiconductor company’s stock valued at $27,000 after purchasing an additional 359 shares during the period. OFI Invest Asset Management bought a new stake in shares of Microchip Technology in the 4th quarter valued at about $29,000. Financial Life Planners purchased a new stake in shares of Microchip Technology in the 4th quarter worth approximately $32,000. Finally, Truvestments Capital LLC bought a new position in shares of Microchip Technology during the third quarter valued at approximately $34,000. 91.51% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several research firms have issued reports on MCHP. Rosenblatt Securities reiterated a “buy” rating and issued a $70.00 target price on shares of Microchip Technology in a research note on Tuesday, March 4th. Evercore ISI boosted their price objective on shares of Microchip Technology from $65.00 to $71.00 and gave the stock an “outperform” rating in a research note on Tuesday, March 4th. Raymond James restated a “strong-buy” rating and issued a $60.00 target price (down from $95.00) on shares of Microchip Technology in a research note on Friday, February 7th. Mizuho upped their price target on Microchip Technology from $58.00 to $68.00 and gave the stock an “outperform” rating in a research report on Tuesday, March 4th. Finally, B. Riley reissued a “buy” rating and issued a $75.00 price objective (down previously from $85.00) on shares of Microchip Technology in a research report on Friday, February 7th. Two equities 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 stock. According to MarketBeat, Microchip Technology currently has a consensus rating of “Moderate Buy” and a consensus price target of $74.37.

Insider Transactions at Microchip Technology

In other news, CFO James Eric Bjornholt sold 3,724 shares of Microchip Technology stock in a transaction dated 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 directly owns 33,272 shares in the company, valued at $2,025,599.36. The trade was a 10.07 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Insiders own 2.10% of the company’s stock.

Microchip Technology Stock Performance

Shares of MCHP stock opened at $50.79 on Friday. Microchip Technology Incorporated has a 52-week low of $49.92 and a 52-week high of $100.57. The stock’s 50-day moving average price is $55.83 and its 200 day moving average price is $64.16. 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 stock has a market capitalization of $27.32 billion, a PE ratio of 90.70 and a beta of 1.52.

Microchip Technology (NASDAQ:MCHP) last released 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%. As a group, equities research analysts forecast that Microchip Technology Incorporated will post 1.03 EPS for the current year.

Microchip Technology Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 7th. Shareholders of record on Monday, February 24th were given a dividend of $0.455 per share. This represents a $1.82 annualized dividend and a yield of 3.58%. The ex-dividend date was Monday, February 24th. Microchip Technology’s payout ratio is 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.