Banco Bilbao Vizcaya Argentaria S.A. Has $2.58 Million Stock Position in Microchip Technology Incorporated (NASDAQ:MCHP)

Banco Bilbao Vizcaya Argentaria S.A. cut its stake in shares of Microchip Technology Incorporated (NASDAQ:MCHP) by 75.9% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 45,035 shares of the semiconductor company’s stock after selling 142,136 shares during the period. Banco Bilbao Vizcaya Argentaria S.A.’s holdings in Microchip Technology were worth $2,582,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of MCHP. Norges Bank acquired a new position in Microchip Technology in the 4th quarter worth about $452,627,000. Barrow Hanley Mewhinney & Strauss LLC increased its stake in shares of Microchip Technology by 273.2% in the fourth quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 5,345,096 shares of the semiconductor company’s stock valued at $306,541,000 after buying an additional 3,912,895 shares during the period. Van ECK Associates Corp raised its holdings in Microchip Technology by 39.3% in the 4th quarter. Van ECK Associates Corp now owns 11,093,007 shares of the semiconductor company’s stock valued at $636,184,000 after buying an additional 3,131,807 shares during the last quarter. Franklin Resources Inc. boosted its position in Microchip Technology by 90.0% during the 4th quarter. Franklin Resources Inc. now owns 6,360,805 shares of the semiconductor company’s stock worth $364,792,000 after buying an additional 3,013,162 shares during the period. Finally, Assenagon Asset Management S.A. grew its holdings in Microchip Technology by 9,901.6% during 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 acquiring an additional 2,829,082 shares during the last quarter. 91.51% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Microchip Technology

In other Microchip Technology news, CFO James Eric Bjornholt sold 3,724 shares of the business’s 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 owns 33,272 shares of the company’s stock, valued at approximately $2,025,599.36. The trade was a 10.07 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 2.10% of the company’s stock.

Microchip Technology Stock Performance

NASDAQ MCHP opened at $46.89 on Friday. The company has a current ratio of 2.25, a quick ratio of 1.23 and a debt-to-equity ratio of 1.12. The company has a fifty day simple moving average of $49.48 and a 200 day simple moving average of $58.42. Microchip Technology Incorporated has a 12-month low of $34.13 and a 12-month high of $100.57. The company has a market cap of $25.22 billion, a P/E ratio of 83.73 and a beta of 1.51.

Microchip Technology (NASDAQ:MCHP) last posted its earnings results on Thursday, February 6th. The semiconductor company reported $0.13 earnings per share 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%. Sell-side analysts predict that Microchip Technology Incorporated will post 1.03 earnings per share for the current fiscal year.

Microchip Technology Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, March 7th. Investors of record on Monday, February 24th were given a $0.455 dividend. This represents a $1.82 dividend on an annualized basis and a yield of 3.88%. The ex-dividend date was Monday, February 24th. Microchip Technology’s payout ratio is currently 325.00%.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on MCHP. KeyCorp dropped their price target on shares of Microchip Technology from $70.00 to $60.00 and set an “overweight” rating for the company in a research note on Friday, February 7th. Truist Financial reduced their price target on Microchip Technology from $56.00 to $43.00 and set a “hold” rating on the stock in a research report on Monday, April 21st. Piper Sandler restated an “overweight” rating and set a $65.00 price objective (down from $85.00) on shares of Microchip Technology in a research report on Friday, February 7th. StockNews.com cut Microchip Technology from a “hold” rating to a “sell” rating in a report on Monday, February 10th. Finally, Needham & Company LLC raised their price target on shares of Microchip Technology from $60.00 to $66.00 and gave the stock a “buy” rating in a report on Tuesday, March 4th. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $69.32.

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.