Bank Julius Baer & Co. Ltd Zurich Has $877,000 Holdings in Microchip Technology Incorporated (NASDAQ:MCHP)

Bank Julius Baer & Co. Ltd Zurich lessened its holdings in shares of Microchip Technology Incorporated (NASDAQ:MCHP) by 98.5% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 15,290 shares of the semiconductor company’s stock after selling 980,825 shares during the quarter. Bank Julius Baer & Co. Ltd Zurich’s holdings in Microchip Technology were worth $877,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in MCHP. Summit Global Investments raised its stake in Microchip Technology by 2.5% during the 3rd quarter. Summit Global Investments now owns 8,463 shares of the semiconductor company’s stock worth $679,000 after buying an additional 207 shares during the period. United Bank raised its stake in Microchip Technology by 21.0% during the 3rd quarter. United Bank now owns 9,871 shares of the semiconductor company’s stock worth $793,000 after buying an additional 1,712 shares during the period. Verdence Capital Advisors LLC acquired a new stake in Microchip Technology during the 3rd quarter worth $449,000. Crossmark Global Holdings Inc. raised its stake in Microchip Technology by 5.3% during the 3rd quarter. Crossmark Global Holdings Inc. now owns 331,752 shares of the semiconductor company’s stock worth $26,636,000 after buying an additional 16,649 shares during the period. Finally, Venturi Wealth Management LLC increased its holdings in Microchip Technology by 5.7% during the 3rd quarter. Venturi Wealth Management LLC now owns 8,190 shares of the semiconductor company’s stock worth $658,000 after purchasing an additional 442 shares in the last quarter. Institutional investors and hedge funds own 91.51% of the company’s stock.

Microchip Technology Trading Up 2.6 %

Microchip Technology stock opened at $59.77 on Monday. Microchip Technology Incorporated has a 52 week low of $50.21 and a 52 week high of $100.57. The company has a debt-to-equity ratio of 1.12, a quick ratio of 1.23 and a current ratio of 2.25. The stock has a market capitalization of $32.15 billion, a P/E ratio of 106.73 and a beta of 1.52. The stock has a 50-day simple moving average of $56.98 and a 200 day simple moving average of $66.56.

Microchip Technology (NASDAQ:MCHP) last posted its quarterly earnings results 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 expect that Microchip Technology Incorporated will post 1.03 earnings per share for the current year.

Microchip Technology Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 7th. Investors of record on Monday, February 24th were issued a dividend of $0.455 per share. This represents a $1.82 dividend on an annualized basis and a yield of 3.05%. The ex-dividend date was Monday, February 24th. Microchip Technology’s payout ratio is currently 325.00%.

Analyst Ratings Changes

MCHP has been the subject of a number of research reports. The Goldman Sachs Group lowered their target price on Microchip Technology from $72.00 to $63.00 and set a “neutral” rating for the company in a report on Friday, January 10th. Needham & Company LLC increased their target price on Microchip Technology from $60.00 to $66.00 and gave the stock a “buy” rating in a report on Tuesday, March 4th. StockNews.com cut Microchip Technology from a “hold” rating to a “sell” rating in a report on Monday, February 10th. Raymond James reiterated a “strong-buy” rating and set a $60.00 target price (down previously from $95.00) on shares of Microchip Technology in a report on Friday, February 7th. Finally, Morgan Stanley lowered their target price on Microchip Technology from $71.00 to $58.00 and set an “equal weight” rating for the company in a report on Tuesday, February 4th. Two analysts have rated the stock with a sell rating, four have given a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $74.37.

Insiders Place Their Bets

In other Microchip Technology news, CFO James Eric Bjornholt sold 3,724 shares of the firm’s stock in a transaction that occurred on 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. This trade represents a 10.07 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Company insiders own 2.10% of the company’s stock.

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.