Commerzbank Aktiengesellschaft FI Makes New Investment in Microchip Technology Incorporated (NASDAQ:MCHP)

Commerzbank Aktiengesellschaft FI bought a new position in shares of Microchip Technology Incorporated (NASDAQ:MCHP) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 2,673 shares of the semiconductor company’s stock, valued at approximately $242,000.

Several other hedge funds have also recently modified their holdings of the company. OFI Invest Asset Management bought a new stake in shares of Microchip Technology in the 3rd quarter worth approximately $26,000. BKM Wealth Management LLC bought a new stake in shares of Microchip Technology in the 4th quarter worth approximately $27,000. Rakuten Securities Inc. bought a new stake in shares of Microchip Technology in the 4th quarter worth approximately $27,000. Fortitude Family Office LLC bought a new stake in shares of Microchip Technology in the 4th quarter worth approximately $29,000. Finally, Milestone Investment Advisors LLC bought a new stake in Microchip Technology during the 3rd quarter valued at $36,000. Institutional investors own 91.51% of the company’s stock.

Insider Transactions at Microchip Technology

In other news, CFO James Eric Bjornholt sold 1,970 shares of the business’s stock in a transaction dated Friday, February 23rd. The shares were sold at an average price of $83.90, for a total value of $165,283.00. Following the sale, the chief financial officer now directly owns 32,893 shares in the company, valued at approximately $2,759,722.70. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In other Microchip Technology news, Director Karlton D. Johnson sold 370 shares of the company’s stock in a transaction dated Tuesday, February 6th. The shares were sold at an average price of $84.00, for a total value of $31,080.00. Following the transaction, the director now directly owns 1,789 shares in the company, valued at approximately $150,276. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO James Eric Bjornholt sold 1,970 shares of the company’s stock in a transaction that occurred on Friday, February 23rd. The stock was sold at an average price of $83.90, for a total transaction of $165,283.00. Following the completion of the sale, the chief financial officer now directly owns 32,893 shares of the company’s stock, valued at approximately $2,759,722.70. The disclosure for this sale can be found here. Insiders own 2.07% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on MCHP shares. UBS Group lowered their target price on shares of Microchip Technology from $105.00 to $95.00 and set a “buy” rating on the stock in a report on Friday, February 2nd. Rosenblatt Securities reissued a “buy” rating and set a $100.00 target price on shares of Microchip Technology in a report on Tuesday, January 30th. Needham & Company LLC boosted their target price on shares of Microchip Technology from $85.00 to $90.00 and gave the company a “buy” rating in a report on Friday, February 2nd. The Goldman Sachs Group reduced their price target on shares of Microchip Technology from $87.00 to $77.00 and set a “neutral” rating for the company in a research report on Friday, February 2nd. Finally, Susquehanna restated a “positive” rating and set a $100.00 price target on shares of Microchip Technology in a research report on Monday, April 8th. Six equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to MarketBeat, Microchip Technology currently has a consensus rating of “Moderate Buy” and an average target price of $92.50.

Microchip Technology Stock Performance

Microchip Technology stock opened at $83.53 on Tuesday. The company has a quick ratio of 0.58, a current ratio of 0.98 and a debt-to-equity ratio of 0.57. The company has a market capitalization of $45.14 billion, a PE ratio of 19.52, a P/E/G ratio of 2.49 and a beta of 1.65. The firm has a fifty day simple moving average of $86.50 and a two-hundred day simple moving average of $84.41. Microchip Technology Incorporated has a twelve month low of $68.75 and a twelve month high of $94.30.

Microchip Technology (NASDAQ:MCHP) last issued its quarterly earnings data on Thursday, February 1st. The semiconductor company reported $1.08 EPS for the quarter, beating the consensus estimate of $1.04 by $0.04. The firm had revenue of $1.77 billion during the quarter, compared to the consensus estimate of $1.77 billion. Microchip Technology had a net margin of 27.59% and a return on equity of 45.59%. The company’s quarterly revenue was down 18.6% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.48 earnings per share. Research analysts expect that Microchip Technology Incorporated will post 4.64 EPS for the current year.

Microchip Technology Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 8th. Stockholders of record on Friday, February 23rd were issued a $0.45 dividend. The ex-dividend date of this dividend was Thursday, February 22nd. This is an increase from Microchip Technology’s previous quarterly dividend of $0.44. This represents a $1.80 dividend on an annualized basis and a dividend yield of 2.15%. Microchip Technology’s payout ratio is 42.06%.

Microchip Technology Company Profile

Microchip Technology Incorporated develops, manufactures, and sells 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 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.