Microchip Technology Incorporated (NASDAQ:MCHP) Shares Sold by Swiss National Bank

Swiss National Bank decreased its holdings in Microchip Technology Incorporated (NASDAQ:MCHP) by 2.8% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 1,702,114 shares of the semiconductor company’s stock after selling 48,700 shares during the quarter. Swiss National Bank owned 0.31% of Microchip Technology worth $153,497,000 as of its most recent SEC filing.

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

Insider Transactions at Microchip Technology

In related news, Director Karlton D. Johnson sold 370 shares of Microchip Technology stock in a transaction on 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 of the company’s stock, valued at $150,276. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In related news, Director Karlton D. Johnson sold 370 shares of Microchip Technology stock in a transaction on Tuesday, February 6th. The shares were sold at an average price of $84.00, for a total value of $31,080.00. Following the sale, the director now owns 1,789 shares in the company, valued at $150,276. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO James Eric Bjornholt sold 1,970 shares of Microchip Technology stock in a transaction on Friday, February 23rd. The shares were 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 owns 32,893 shares in the company, 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

MCHP has been the topic of a number of analyst reports. UBS Group cut their price target on Microchip Technology from $105.00 to $95.00 and set a “buy” rating on the stock in a research note on Friday, February 2nd. Stifel Nicolaus increased their price objective on shares of Microchip Technology from $98.00 to $102.00 and gave the stock a “buy” rating in a research report on Wednesday. TD Cowen increased their target price on Microchip Technology from $75.00 to $80.00 and gave the stock a “market perform” rating in a report on Friday, February 2nd. The Goldman Sachs Group dropped their target price on Microchip Technology from $87.00 to $77.00 and set a “neutral” rating on the stock in a research report on Friday, February 2nd. Finally, Rosenblatt Securities reaffirmed a “buy” rating and set a $100.00 price target on shares of Microchip Technology in a research note on Tuesday, January 30th. Six equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $92.75.

Microchip Technology Price Performance

MCHP stock opened at $91.36 on Friday. The company has a market capitalization of $49.37 billion, a P/E ratio of 21.35, a price-to-earnings-growth ratio of 2.73 and a beta of 1.60. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.58 and a current ratio of 0.98. Microchip Technology Incorporated has a 52-week low of $68.75 and a 52-week high of $94.63. The business has a 50-day simple moving average of $87.88 and a two-hundred day simple moving average of $84.95.

Microchip Technology (NASDAQ:MCHP) last posted its quarterly earnings results on Thursday, February 1st. The semiconductor company reported $1.08 EPS for the quarter, topping analysts’ consensus estimates of $1.04 by $0.04. The company had revenue of $1.77 billion for the quarter, compared to analysts’ expectations of $1.77 billion. Microchip Technology had a net margin of 27.59% and a return on equity of 45.59%. Microchip Technology’s revenue was down 18.6% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.48 EPS. Research analysts expect that Microchip Technology Incorporated will post 4.64 EPS for the current fiscal year.

About Microchip Technology

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.