B. Metzler seel. Sohn & Co. AG Has $6.49 Million Stake in Microchip Technology Incorporated (NASDAQ:MCHP)

B. Metzler seel. Sohn & Co. AG increased its stake in shares of Microchip Technology Incorporated (NASDAQ:MCHP) by 312.7% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 113,237 shares of the semiconductor company’s stock after buying an additional 85,800 shares during the quarter. B. Metzler seel. Sohn & Co. AG’s holdings in Microchip Technology were worth $6,494,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. Mainstream Capital Management LLC bought a new position in shares of Microchip Technology in the fourth quarter worth $26,000. Rakuten Securities Inc. grew its stake in Microchip Technology by 309.5% during the fourth quarter. Rakuten Securities Inc. now owns 475 shares of the semiconductor company’s stock worth $27,000 after buying an additional 359 shares in the last quarter. OFI Invest Asset Management bought a new position in Microchip Technology in the 4th quarter valued at about $29,000. Financial Life Planners acquired a new position in shares of Microchip Technology in the 4th quarter valued at approximately $32,000. Finally, Kohmann Bosshard Financial Services LLC bought a new stake in shares of Microchip Technology during the 4th quarter worth approximately $34,000. Institutional investors own 91.51% of the company’s stock.

Wall Street Analyst Weigh In

MCHP has been the topic of a number of recent analyst reports. B. Riley restated a “buy” rating and set a $75.00 price objective (down from $85.00) on shares of Microchip Technology in a research report on Friday, February 7th. Mizuho boosted their price target on Microchip Technology from $58.00 to $68.00 and gave the stock an “outperform” rating in a report on Tuesday, March 4th. Morgan Stanley reduced their price objective on 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. Bank of America downgraded Microchip Technology from a “neutral” rating to an “underperform” rating and lowered their target price for the stock from $80.00 to $65.00 in a research note on Monday, December 16th. Finally, KeyCorp reduced their price target on shares of Microchip Technology from $70.00 to $60.00 and set an “overweight” rating on the stock in a research note on Friday, February 7th. 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’s stock. Based on data from MarketBeat.com, Microchip Technology currently has an average rating of “Moderate Buy” and an average price target of $74.37.

Insider Buying and Selling

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

Microchip Technology Stock Down 0.6 %

Shares of NASDAQ:MCHP opened at $48.41 on Tuesday. The business has a fifty day simple moving average of $55.46 and a 200 day simple moving average of $63.61. Microchip Technology Incorporated has a 12-month low of $47.44 and a 12-month high of $100.57. The firm has a market cap of $26.04 billion, a P/E ratio of 86.45 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 (NASDAQ:MCHP) last posted its quarterly earnings data on Thursday, February 6th. The semiconductor company reported $0.13 EPS 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%. Analysts predict that Microchip Technology Incorporated will post 1.03 earnings per share for the current year.

Microchip Technology Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 7th. Stockholders of record on Monday, February 24th were given a dividend of $0.455 per share. This represents a $1.82 annualized dividend and a dividend yield of 3.76%. The ex-dividend date of this dividend was Monday, February 24th. Microchip Technology’s dividend payout ratio (DPR) is presently 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.